AUGUSTASIA BUSINESS OUTLOOK8NEWSROOMNISSAN & RENAULT CONCLUDE AGREEMENT OF INVESTING EUR 600M IN EV UNIT AMPERENissan and Renault finalised the terms of their revamped alliance on July 25, with the Japanese automaker pledging up to 600 million euros ($663 million) in its partner's electric vehicle unit Ampere.The agreement to finalise the terms of their revamped partnership puts the two automakers on a more equal footing and comes after months of sometimes tense negotiations over issues such as future intellectual property sharing.According to Nissan, the investment in Ampere is consistent with Nissan's role as a strategic investor and a board seat on the new company.The companies stated that the overhaul would be completed in the fourth quarter of 2023, subject to regulatory approvals. INDIA & BRUNEI TO ENHANCE TRADE AND COOPERATION IN VARIOUS FIELDSAt the 8th Foreign Office Consultations on July 25, India and Brunei reviewed their bilateral relations and discussed ways to strengthen cooperation in various fields. The meeting was held in the city of Bandar Seri Begawan.The meeting was co-chaired by Saurabh Kumar, Secretary (East), MEA, and Penigran Norhashimah binti Pengiran Mohd Hassan, Permanent Secretary, MoFA, Brunei Darussalam."The two sides reviewed their bilateral relations and discussed ways to strengthen cooperation, including in trade, commerce, investments, defence, and space," the Ministry of External Affairs said in a statement."They also agreed to look into collaborations in information and communication technology (ICT), agriculture, health and pharmaceuticals, maritime, culture, and people-to-people exchanges." "Opinions were also exchanged on regional and international issues of mutual interest," according to the statement.It was also agreed to commemorate the 40th anniversary of diplomatic relations in 2024 and to strengthen high-level exchanges. The MoUs under discussion will also be completed as soon as possible by the two parties. Singapore sovereign wealth fund GIC reported its highest returns since 2015 for the most recent fiscal year, but warned of "challenging" prospects ahead due to sticky inflation and other economic headwinds.To manage these risks, it stated that it would continue to prioritise investments with "stable long-term returns," such as infrastructure.GIC stated in its 2022/23 annual report released on Wednesday (Jul 26) that its 20-year annualised real rate of return was 4.6 percent for the fiscal year ended March 31. This was an increase from the previous fiscal year's 4.2 percent, and it was the highest since 2015, when real returns reached 4.9 percent.SINGAPORE SWF GIC TO BOOST INFRASTRUCTURAL INVESTMENT AMID RECORD RETURNS
< Page 7 | Page 9 >