China 'wants to set up factories in Africa'

The Chinese government has shown "strong interest" in setting up factories in Africa, helping the continent develop a manufacturing base and boost its economy, the president of the World Bank said today.

While most attention on China's investment in Africa has focused on its large-scale pursuit of natural resources, experts say a growing number of the country's entrepreneurs are experimenting with production there.

However, some questioned whether the workshop of the world was ready to outsource much of its industry.

"There is not only willingness but strong interest among some in China, and I've discussed with the minister of commerce, Chen Deming, that there may be possibilities of moving some of the lower-value manufacturing facilities to sub-Saharan Africa, toys or footwear," Robert Zoellick, the president of the World Bank, told the Financial Times.

He suggested Chinese knowhow in production and marketing could boost Africa's declining share of international trade, but admitted infrastructure improvements were needed to attract companies.

It is thought the scheme might involve creating industrial parks -- possibly part-funded by the World Bank and China -- so companies could settle in quickly and operate more effectively.

The institution sees manufacturing as a missing element in the continent's development.

China is keen that its presence in Africa should be seen as more than a resources grab

Pirates of Somalia

Somali pirates continue their attacks against international ships in and around the Gulf of Aden, despite the deterrent of stepped-up international naval escorts and patrols - and the increased failure rate of their attacks. Under agreements with Somalia, the U.N, and each other, ships belonging to fifteen countries now patrol the area. Somali pirates - who have won themselves nearly $200 million in ransom since early 2008 - are being captured more frequently now, and handed over to authorities in Kenya, Yemen and Somalia for trial. Collected here are some recent photos of piracy off the coast of Somalia, and the international efforts to rein it in. (30 photos total)

Host proposal at Copenhagen calls for 50 per cent cuts by 2050

But mid-term target is lacking for developing countries, leading to India's rejection of proposal

Cath Everett, BusinessGreen, 30 Nov 2009


The world should cut greenhouse gas emissions by 50 per cent by 2050 from 1990 levels, with most of the cuts coming from rich countries, according to a draft proposal from Denmark, which will host UN climate change talks next month.

A copy of the draft, which was seen by Reuters, could become the basis of a political agreement at the forthcoming summit in Copenhagen, which will take place between 7 and 18 December.

The text said that industrialised nations should generate a huge 80 per cent of the proposed global emissions cuts, and suggested that 2020 be endorsed as the year when such emissions should peak.

The draft also advocated that efforts should be made to keep average temperature rises across the world to within 2°C.

But no mid-term emissions target was specified for developed countries, even though this is a key demand of southern nations. As a result, India has already criticised it as a “dead end”.

Westinghouse to fuel Koeberg

FUEL for Eskom’s Koeberg nuclear power plant will be provided by Westinghouse Electric Company’s Swedish operations.

In a statement today, Westinghouse said it had been selected by Eskom Holdings to provide 3 reloads of fuel for the Koeberg Nuclear Power Plant, north of Cape Town, from end 2011 to 2015.

“Under terms of the $30 million (about R220 million) contract executed with Westinghouse Electric Sweden AB, Westinghouse will produce fuel at its fabrication facility in Västerås, Sweden,” the statement added.

“We are pleased to be able to continue to assist the Republic of South Africa in its ongoing and successful effort to generate the safe, clean and reliable electricity necessary to fuel continued economic growth,” said Rita Bowser, regional vice president for Westinghouse Electric SA.