Entries by admin

Chinese aviation giant HNA bids for London airport

HNA Group, the Chinese aviation and shipping conglomerate, and a consortium led byOntario Teachers’ Pension Plan Board and Borealis Infrastructure, are in the lead to buyLondon City Airport from its United States owners, according to sources close to the potentialdeal. The central London airport, owned by Global Infrastructure Partners, could fetch more than 2billion pounds ($2.8 billion). The companies have been asked to submit another round of bids on Wednesday, and GIPhas not chosen a winner, two of the sources said, adding Cheung Kong InfrastructureHoldings Ltd is also still interested in bidding. The airport, located about 10 kilometers from London’s financial district and opened in 1987, was bought by American International Group Inc and GIP in 2006. At the time, reports said the companies agreed to pay 750 million pounds, though terms werenot disclosed. Two years later, American International sold its stake to GIP and HighstarCapital, which now owns 25 percent. Any deal would add to the $22.7 billion of airport-related acquisitions already completed overthe past 12 months, according to data compiled by Bloomberg. Spokesmen for GIP, PSP and Borealis declined to comment. Representatives for OntarioTeachers’ Pension and CKI did not immediately respond to requests for comment, while amedia representative for HNA said she could not immediately comment. The winning bidder will have to come to terms with ongoing political wranglings that stand inthe way of a planned expansion that would help City Airport serve 6.5 million passengers ayear by 2023. London Mayor Boris Johnson vetoed the 250-million-pound plan to add aircraftstands, an arrivals terminal and taxiway last year. Flights from City Airport carried 3.6 million passengers in 2014, according to the operation’sannual report, a 7.9 percent increase from the year before. HNA, which controls China’s fourth-largest carrier, Hainan Airlines Co Ltd, last month boughta stake in Uber China Ltd and completed its acquisition of aircraft lessor Avolon Holdings Ltdfor $7.6 billion including debt. Last week, its shipping affiliate announced a $6.1 billion takeover offer for California-basedsoftware distributor Ingram Micro Inc. http://www.chinadaily.com.cn/business/2016-02/26/content_23649126.htm

US, China ‘agree on’ DPRK sanctions

The United States and China have agreed on a proposed UN resolution on the Democratic People’s Republic of Korea and will not accept Pyongyang as a nuclear weapons state, the White House and United Nations diplomats said on Wednesday. US National Security Advisor Susan Rice and Chinese Foreign Minister Wang Yi agreed during a meeting […]

Treasury Sanctions Key ISIL Leaders and Facilitators Including a Senior Oil Official

WASHINGTON – The U.S. Department of the Treasury today announced the designations of senior ISIL oil official Faysal al-Zahrani, foreign fighter facilitator Husayn Juaythini, and senior ISIL official Turki al-Binali pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism.  These designations support President Obama’s strategy […]

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Barclays Bank Plc

ENFORCEMENT INFORMATION FOR February 8, 2016 Information concerning the civil penalties process is discussed in OFAC regulations governing the various sanctions programs and in 31 C.F.R. part 501. On November 9, 2009, OFAC published as Appendix A to part 501 Economic Sanctions Enforcement Guidelines. See 74 Fed. Reg. 57,593 (Nov. 9, 2009). The Economic Sanctions […]

Addison-Clifton carves niche in China’s growing industries

This article appeared in the USA-Midwest Report in the South China Morning Post on February 26, 2016 (prepared by Discovery Reports). Ulice Payne has an uncanny ability to understand the market and foresee its demands. In the same year that he founded Addison-Clifton in Chicago, Illinois, the company president set up a Shanghai representative office […]

China to accelerate free-trade negotiations

The Ministry of Commerce plans to step up the pace of its free trade arrangements with partner countries that offer what it called a high degree of transparency, openness and inclusiveness to the world economy. Noting the signing of the Trans-Pacific Partnership on Thursday, which does not include China, a ministry statement said: “China is […]

Commerce Dept. Moves against Sale of Aircraft to Terrorist-Supporting Iranian Airline

WASHINGTON—The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has acted against five parties who are attempting to sell two U.S. origin aircraft to Caspian Airlines, a designated Iranian airline. The U.S. Department of the Treasury designated Caspian in 2014 for its support for terrorism, sanctions that are not being lifted under the Joint […]

IRANIAN COMPANY SENTENCED FOR U.S. EXPORT VIOLATION

HARRISBURG – The United States Attorney’s Office for the Middle District of Pennsylvania and the Office of Export Enforcement of the United States Department of Commerce announced that FIMCO, an Iranian corporation, was sentenced today to pay a $100,000 criminal fine by United States District Court Judge Yvette Kane in Harrisburg for conspiracy to evade […]

Treasury Sanctions Those Involved in Ballistic Missile Procurement for Iran

WASHINGTON – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated 11 entities and individuals involved in procurement on behalf of Iran’s ballistic missile program.  OFAC sanctioned Mabrooka Trading Co LLC (Mabrooka Trading) – based in the United Arab Emirates (UAE) – and its China- and UAE-based network that have […]

Chinese enterprises continue to grow business in US in 2015

NEW YORK — The relationship between Chinese and US economies continued to grow in2015, with China surpassing Canada to become the US’s largest trading partner inNovember, the China General Chamber of Commerce-USA (CGCC) said Tuesday. More than 800,000 American jobs depend on goods and services sold to China, the CGCCsaid in the 2015 White Paper, […]