Word: foreigners
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Dates: during 2000-2009
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...largest aluminum company, Chinalco, spent the better part of the last four months doing something no other CEO of a state-owned Chinese company had ever done. He campaigned - in an open, very western way - to gain approval in Australia for what would have been China's largest foreign investment ever: a proposed $19.5 billion stake in Rio Tinto, the world's second largest mining company. The deal would have given Chinalco roughly an 18% stake in Rio, as well as outright control of some valuable copper and iron ore mines. Xiong travelled to Australia in March and made television...
...walk away spared the government of Kevin Rudd, the Mandarin-speaking Prime Minister of Australia, from having to make the tough decision as to whether to let the Chinalco investment go forward. After the Rio announcement, Rudd made a point of saying that Australia was very much open to foreign investment, and then met in Canberra on Friday with Xiong to reinforce the point. Analysts say the government was likely to approve the investment, but only after imposing what surmised would be "tough conditions." It s still unclear what those "conditions" might have been...
...signals that it doesn't really want it - at least in forms other than investments in US Treasury debt? One of the things a country with more cash than it can possibly invest at home - a description which China fits in spades - does is recycle its surpluses is through foreign direct investment. And China, in fact, has done scores of resource deals in the developing world - of late with Russia, Kazakhstan and Brazil in the old and gas sector, for example. But twice now in the developed world, big Chinese investments have been spurned. First CNOOC, now Chinalco...
...spoken with the Indian Prime Minister Manmohan Singh and assured him that Indian students - whose tuition is healthy source of income for Australian universities - are welcome. In a press release, he said a taskforce had been set up which would include senior officials from the Department of Foreign Affairs and Trade, the Department of Education and Workplace Relations, the Department of Immigration and Citizenship and the Attorney-Generals' Department to deal with the problem. (Read a short bio of Kevin Rudd...
...some people have firsthand experience of ADIRU failures on Air France flights: Air France pilots. Julien Gourguechon, International Secretary General of the French Pilots Union (SNPL) and an Air France pilot of 10 years, says ADIRU failures are not foreign to him, his colleagues or other French pilots flying for other companies and the military. "For sure there are pilots from SNPL who have experienced ADIRU problems," he says. But, he adds, this is "very rare ... You don't have more fly-by-wire technical failure with them than you do with hydraulic, mechanic or engine failure." As for Flight...