IN BRIEF (Page 24)

Apple to open R&D center in China

Apple Inc will set up a research and development center in China this year - its first independently operated one in the Asia-Pacific region - as it attempts to regain market share. Apple CEO Tim Cook said on Aug 16 that the US tech giant will step up investment in China and play an active part in promoting the country's smart manufacturing Internet Plus strategy, which designed to advance the use of the internet in traditional industries. Cook revealed the company's plan during a meeting with Vice-Premier Zhang Gaoli. The size of the investment was not disclosed.

Mondelez to invest $100m in China

Global snack company Mondelez International Inc has said it will invest more than $100 million in China in the next three years to manufacture and launch its new chocolate brand, as it attempts to cash in on the country's growing $2.8 billion market. Milka chocolate bars will hit shelves in September as Mondelez's first chocolate brand in the country, with taste and flavor adapted to local customers. The investment also includes capital to create jobs, manufacturing, marketing and upgrading its distribution system of cold chains, the company said.

Germany to clear takeover of Kuka

Germany's economy ministry has said it will allow the takeover of industrial robot maker Kuka AG by Chinese household appliances company Midea Group, which has raised concerns in Berlin about losing control of important technology. The German government had sought a deal to limit the size of Midea's stake to 49 percent to try to curb the Chinese company's influence over what it views as a national champion in a key industry. But subsequent decisions by major German shareholders to sell their stakes affected that plan.

Capilano refutes claim it sold non-Aussie honey

Australia's Capilano Honey Ltd only exports 100 percent authentic Australian honey to China and nothing less, its top executive assured. The company's Chief Executive Ben McKee said the company had never sold blended honey originating from different countries other than Australia to China. "Claims that we buy honey from China and sell it back (to China) under our brand Capilano is not true at all," he said.

Ikea to launch e-commerce in Shanghai

Swedish home furnishings retailer Ikea Group will launch its e-commerce business in Shanghai and start to sell its products online by the end of August. It will be the company's first online sales attempt in the Asia-Pacific region. As a pilot program, the delivery services will be limited to Shanghai, but all of its ready-to-assemble furniture, appliances and home accessories, except for food and green plants, will be sold online. Ikea plans to expand its e-commerce services across the country if the trial run is successful.

Fosun to buy stake in Renaissance Capital

Russian businessman Mikhail Prokhorov's Onexim Group is in talks to sell a stake in Renaissance Capital bank to China's Fosun International, Russia's Vedomosti daily reported, citing three sources. Fosun could get a stake in RenCap that is smaller than a controlling one, the newspaper said. This year, Onexim sold a 20 percent stake in potash producer Uralkali.

(China Daily Africa Weekly 08/19/2016 page24)