Chinese state takes over Logicor assets in Romania
China’s sovereign fund China Investment Corporation (CIC) has taken over the Logicor assets in Romania, namely four logistics parks and over 100 hectares, after the European Commission approved the fund’s takeover of the Logicor assets in an international transaction.
Logicor owns four logistics parks in Romania, in Ploiesti, Timisoara, Mogosoaia and Pantelimon. The company bought a portfolio of storage facilities from Immofinanz last year, including four projects in Romania.
In May, Blackstone, the largest alternative investment fund, announced the sale of Logicor to China’s sovereign fund. The deal is estimated at EUR 12.25 billion. Blackstone, which set up Logicor in 2012, is making its way out of the European market.
Kuwait supports a program for health sector in Iraq
Kuwait Fund for Arab Economic Development (KFAED) has announced the launch of emergency health projects in Iraq within the recent $ 100 million grant allocated by the Reconstruction Fund for Iraq.
The Development Fund representative Nawaf al-Mohammad, who is currently visiting Iraq, said that the fund will launch next Thursday with 15 million dollars of the total grant for the implementation of urgent health projects in eight Iraqi provinces.
The projects agreed upon with the Iraqi government and will focus on rebuilding destroyed health centers and equipping them with medical equipment and equipment to receive the displaced citizen.The urgent need to restore stability in those areas prompted the Development Fund to launch the emergency program in agreement with the Reconstruction Fund for Iraq.
X-cite opens 19th store in Khaitan
Continuing its expansion to provide customers with a closely located one-stop-shop for electronics, X-cite by Alghanim Electronics launched its nineteenth store in Sama Center in the Khaitan area on the Airport road 55, offering customers its complete variety of products ranging from mobile phones and gadgets to home appliances and computers.
The opening of the store provides convenience, serving to residents in Khaitan and neighboring areas including AlYarmouk located 2 minutes away and South Surra, a mere 5 minutes away, This brings X-cite’s competitive quality and prices closer to every customer in Kuwait for the ultimate customer shopping experience.
The opening ceremony was attended by X-cite’s management team, making this the official 19th store in Kuwait. X-cite by Alghanim Electronics is Kuwait’s largest electronic retailer and a fast-growing electronics showroom in the Gulf region, launching its expansion out of Kuwait in 2015 by entering the Kingdom of Saudi Arabia (KSA).
Taiwanese delegation hopes to establish a patient transfer system in Malaysia
A delegation of medical experts from nine Taiwanese hospitals and clinics led by the Taiwan External Trade and Development Council (TAITRA, 外貿協會) is visiting Malaysia, hoping to establish a patient transfer system with Malaysian medical institutes and introduce more patients to Taiwan.
"We aim to draw more overseas patients to Taiwan. We believe that it would benefit Taiwan’s medical and tourism industries and support the nation’s economy in the long term," TAITRA president and chief executive officer Walter Yeh (葉明水) yesterday said on the sidelines of the Taiwan Health Industry Forum at the Kuala Lumpur Convention Center.
The delegation includes representatives from National Taiwan University Hospital, Linkou Chang Gung Memorial Hospital, Kaohsiung Municipal Siaogang Hospital and Lee Women’s Hospital.
More than 300,000 overseas patients visited Taiwan for physical examinations, operations and other medical services last year, Yeh said, adding that the number of patients from Malaysia accounted for more than 3 percent, or 10,000 patients, of Taiwan’s total overseas patients.
As Singapore and Thailand are also competing for the business opportunity from overseas patients from other Southeast Asian nations, Taiwan has to step-up its efforts in promoting the nation’s medical services, Yeh said.
Compared with medical services in Singapore, the average expense for a similar treatment is one-third in Taiwan, providing Taiwan an upper-hand in the fierce competition, Yeh said, adding that Taiwin has 15 Joint Commission International-accredited medical institutes, while Thailand has only two.
The TAITRA believes there is a huge potential for Taiwan to increase its number of patients from Malaysia, given that the accumulated number of Malaysian graduates from Taiwan’s universities reached more than 150,000 last year and currently has 16,000 Malaysian students, Yeh said.
The TAITRA is also assisting Taiwanese food and beverage makers obtain halal certification via the council’s Taiwan Halal Center.
Largest online retailer in Romania has EUR 100 mln for investments this year
eMAG, the largest online retailer in Romania, with operations in Hungary, Bulgaria and Poland, has a EUR 100 million investment budget for this year, said the eMAG CEO Iulian Stanciu, reports Ziarul Financiar.
The money will be allocated for several projects, including for increasing the automation degree of eMAG’s warehouse located near Bucharest.
The company will reduce the number of parcels. The products are currently sent separately if a customer orders more products in order to speed up the packaging process. Once the warehouse’s automation degree increases, eMAG will be able to send more products in the same parcel.
The retailer needs to bring some of the warehouse’s employees from up to 100 kilometers away, said Stanciu. This could be related to Romania’s current labor crisis.
The state should help Romanian companies launch abroad, including those with a mixed ownership.
eMAG is owned by the South-African investment fund Naspers whereas Stanciu is the minority shareholder.