Glencore has agreed to supply cobalt to a leading Chinese battery materials company for five years, as China looks to secure supplies of the battery metal to meet rising demand for electric cars. Shenzhen-listed GEM Co, a producer of battery materials, said it had agreed to buy 61,200 tonnes of cobalt from Glencore between 2020 and 2024. The deal comes less than a year after GEM walked away from a similar supply deal, after cobalt prices plummeted due to a surge of supply from the Congo. Cobalt prices fell by over 60 per cent between the beginning of January 2018 and August this year. But prices have rebounded since August after Glencore agreed to shut its Mutanda mine in the Congo, the largest cobalt mine in the world. After hitting USD 12 a pound in August, cobalt prices have risen to $17.9 per pound, according to Fastmarkets. There were no details on pricing for the supply agreement with GEM Co released. A spokesman for Glencore confirmed the deal.
Swiss fragrance giant sets up workshop in Shanghai as the industry’s ‘under-exploited’ market scale approaches USD 3.28 billion. he world’s largest privately-owned fragrance and taste company, Firmenich, has launched a fine fragrance workshop in downtown Shanghai by offering dedicated models that provide easy access to all fragrance capabilities under one roof, China Daily reported. The firm expects the workshop to bring it closer to the world’s fastest growing but under exploited fragrance market. As the world’s second largest economy, China saw the fine fragrance market increase 15% last year, according to data from Euromonitor International. “Fragrance consumers in China are expanding rapidly from women to both men and women, and the market scale is projected to reach 23.3 billion yuan (USD 3.28 billion),” said Cai Zhihao, a researcher with the Shenzhen-based Qianzhan Industry Research Institute, the report said.
The second China-Europe Talent Forum was jointly hosted in Zurich, Switzerland to explore a new model for companies to “bring, buy or build” talent as they expand internationally. Co-hosted by the Chinese Embassy in Switzerland and the Swiss Adecco Group, the forum brought together more than 180 participants from firms, academic institutions, international organizations and government agencies. Geng Wenbing, Chinese ambassador to Switzerland, said that China and Europe together hold a “treasure bowl” of the world’s best talent, but each side has their own strengths in the talent field. Geng noted that China has a large amount of skilled talent, while Europe boasts innovative and entrepreneurial talent. The complementary advantages that follow are obvious, and the potential for exchange and cooperation is huge. Geng said that China is happy to see local talent go international, and is willing to recruit talent from all over the world to participate in China’s construction and development. The forum, he said, intends to open up exchange channels between Chinese and European companies, schools and government departments.
Swiss automation and power technology giant ABB Group is partnering with Chinese telecom behemoth Huawei to develop China’s industrial cloud systems, the two companies announced at Huawei’s annual Connect conference in Shanghai. ABB said it will offer its platform, dubbed ABB Ability, to help industrial customers digitize their manufacturing processes using Huawei’s cloud infrastructure. Launched in 2017, the platform combines industrial machines with industrial internet of things analytics and entered the Chinese market in June that year. ABB’s German rival Kuka, which is owned by Midea Group Co. also has a strong foothold in the Chinese market. ABB Ability aims to raise production efficiency by offering services including predicting equipment malfunctions before they happen and collecting data during the manufacturing processes, ABB said in a previous statement. “This collaboration enables us to further grow ABB’s industrial digital solutions in the Chinese market, which represents our second largest customer base,” said Guido Jouret, chief digital officer of ABB.
Beijing’s noxious air condition has greatly changed over the years and the bustling capital is about to renew its status as one of the most polluted metros on the planet, the latest data revealed. The city is bent on cutting down levels of toxic smog and other lung-damaging pollutants called ‘PM2.5’ by nearly 21% this year, which is bigger than last year’s, and by nearly 75% compared to 2017, Swiss air quality monitoring firm IQAir AirVisual reported. The average PM2.5 readings per hour in the smog-covered Beijing was down to almost 43 mcg-per cubic meter of air in the first half this year, declining from 53 in the same quarter in 2018. Beijing has been spearheading a serious campaign to curb rising volumes of lung-damaging pollutants in 2014 and has since made huge efforts to clamp down and revoke licenses of industrial companies found violating the city’s air quality ordinance. The city has also been working tirelessly to improve carbon and fuel emission standards and slash coal consumption right in the capital and its adjacent neighbors. IQAir said that there has been a huge difference since environmental authorities worked in bringing down the pollution in Beijing. “Compared to a decade ago, the difference is very striking,” the air purification firm said.
Switzerland has the most environmentally sound tourism record, according to a global comparison study by the World Economic Forum (WEF). The study ranks the alpine country as the 10th most “competitive” holiday location overall against a broad range of criteria. The WEF ‘Travel and Tourism Competitiveness Report’, conducted every two years, ranks 140 countries on their relative strengths in global tourism and travel. In 2018, it found Switzerland’s attention to environmental standards in the sector to be top of class. The study makes specific mention of Switzerland’s waste water treatment system and the country’s impressive record in the category “environmental regulatory enforcement and stringency”. Switzerland is also rated as one of the safest places in the world to visit and achieves high marks for its competitive business environment, low taxes and wealth of highly skilled workforce.
Swiss Bühler Group and Premier Tech from Canada, announced the formation of a strategic cooperation for industrial flexible packaging solutions. Both companies agreed to build a design and manufacturing center in China. “Combining the portfolio and expertise of Premier Tech and Bühler will enable future packaging solutions which are significantly more efficient, accurate and food safe by using automation technologies”, says Johannes Wick, CEO of Bühler’s Grains & Food business. “The two companies are complementing each other in a perfect way with Bühler’s strong footprint and market position in China and Premier Tech’s recognized know-how in the field of automated packaging technologies,” says André Noreau, CEO of Premier Tech’s Systems and Automation business.
Switzerland has won 16 medals, including five gold, at the WorldSkills competition – a kind of Olympics for trade skills – in Kazan in western Russia. The Swiss team, known as SwissSkills, captured five gold, five silver and six bronze medals at the event, which wrapped up on Tuesday night in the Kazan Arena. The five gold medals went to the following participants: restaurant service specialist Martina Wick (who had to highest score of all Swiss; see video below), baker/confectioner Sonja Durrer, wall and floor tiler Renato Meier, electrician Florian Baumgartner and the landscape gardening team of Mario Enz and Fabian Hodel. The full result list with trainer names can be found here. Only China and Korea earned more medals than SwissSkills, the top European team. The team’s aim had been to come in among the top three nations, following on from its best ever performance at the last WorldSkills competition in Abu Dhabi in 2017.
Switzerland’s Federal Council, during its meeting on August 14th, confirmed that Switzerland will exchange financial account information with 33 more reviewed partner countries for the first time in September. The list comprises Andorra, Argentina, Barbados, Belize, Brazil, Chile, China, Colombia, Cook Island, Costa Rica, Curaçao, Faroe Islands, Greenland, India, Indonesia, Liechtenstein, Malaysia, Mauritius, Mexico, Monaco, Montserrat, New Zealand, Russia, Saint-Kitts and Nevis, Saint Martin, Saint Vincent and the Grenadines, Sainte-Lucia, Saudi Arabia, Seychelles, Singapore, South Africa, and Uruguay. The Federal Council decided to commence the automatic exchange of financial account information (AEOI) based on the positive feedback by the economic affairs and taxation committees of both parliamentary chambers.
Interroll Group, a Swiss manufacturer of products for material handling logistics and automation, such as rollers and sorters, said it remains confident on the huge growth potential in China and will continue to increase investments, triggered by robust demand from the express delivery market in the country. Later this year, the technology center of Interroll at Suzhou, Jiangsu province, will introduce a new German microelectronic roller assembly line and some advanced processing equipment for electric roller pipes, the company said. Besides, the Swiss firm will also set up a new office in Beijing, in addition to its current one in Shanghai, to provide more direct services to its customers in North China and Northeast China, to cater to the growing demand.