Serbia Joins China In The Fast Lane
State-owned China Road & Bridge Corp. and the Serbia government say they will build a highway - "Fruska Gora Corridor" - in the northern part of Serbia.
The project is a 47.7-kilometer multilane road connecting Novi Sad and Ruma and features a 1.8-kilometer bridge across the Danube River and a 3.5-kilometer tunnel.
Serbian President Aleksandar Vucic said the project would improve transport in northern Serbia and would help the local economy.
Preside Vucic said the countries were in talks on other urban development projects including sewage disposal and highway and railway construction.
Europe, China Investment Companies Create Sino-Italian Fund
Leading Europe investment group Investindustrial, China's sovereign wealth fund China Investment Corporation and Italian bank UniCredita have launched a China-Italy Industrial Cooperation Fund with an initial capital of 600 million euros ($700 million) fully underwritten by the three partners.
Investindustrial is the sole investment manager of the new fund which will seek to raise additional capital, a joint statement said.
The investment in "Italian midmarket companies" is expected to establish and accelerate their business development in China. "Italian midmarket companies deserve to be both bigger and more competitive on a global scale." Andrea C. Bonomi, managing principal of Investindustrial said.
The cross-border partnership would benefit Chin, particularly the consumer, industrial and health care sectors, Richard Burton, chief executive of corporate and investment banking at UniCredit, said.
Bulk Commodity Market Continues Slow Growth In September
China's bulk commodity market saw slower growth in September compared with August, industrial data showed.
The China Bulk Merchandise Index, a gauge of domestic bulk commodity market growth, stood above the boom-or-bust line of 100 at 102.3% in September, from 102.5 in August, according to the China Federation of Logistics and Purchasing.
It shows supply pressure eased and demand for commodities continued to bounce back - signaling a more balanced supply-and-demand structure, the association said.
In August, the China Bulk Merchandise Index was 102.5 - down from 104.8 in July.
