The government of Mongolia signaled on Monday it will not abide by an international tribunal’s order to pay more than US$100 million to Canadian uranium explorer Khan Resources Inc., whose chairman died suddenly while in the country meeting with officials over repayment plans last week.
“The Mongolian government, in order to protect its own interests, will work for the invalidation of the arbitration award,” a statement by the justice minister, dated Monday, said.
Submitted by Stephen Blank via The Diplomat, China has certainly been busy since it won observer status at the May Arctic Council summit in Kiruna, Sweden. First, Yu Zhengasheng, Chairman of China’s Political Consultative Conference, visited Finland, Sweden and Denmark with an eye to boosting general trade and cooperation, particularly in the Arctic.
China Resources Microelectronics has made a revised acquisition bid for Fairchild Semiconductor Intl Inc. (NASDAQ:FCS), reported Reuters. The Party G Group made the takeover offer on China Resources’ behalf. The new deal includes revised terms concerning the termination fees in case the acquisition fails to gain regulatory authorities’ approval.
George Weston’s net earnings dropped significantly in Q4 of 2012. In the last 12 years the annual return of China’s Social Security Fund reached at 8.4%. Beijing Enlight Media Co announced its annual revenue for 2012 of 1.03 billion yuan or $165.5 million. German group IG Metall expects to reach a deal with GM’s Opel branch next week.
The United Nations (UN) Convention on Climate Change — which sets the framework for governmental efforts to tackle the climate change and global warming issues — reached a groundbreaking agreement in Paris on Saturday, December 12. The deal highlights the need to address global warming in 195 countries through policies and use of low-carbon emitting technologies. Credit Suisse believes that although the agreement will not result in immediate changes in the country-level solar policies, it would certainly provide support to the cleaner energy sector.
By Doug Young:Thank goodness! That's my first and main reaction on reading that after years of negotiations, Apple (Nasdaq: AAPL) and China Mobile (HKEx: 941; NYSE: CHL) have finally announced their highly anticipated deal to sell the iPhone on the 3G and 4G networks of China's dominant telco.