Shanghai Expo 2010 Confirms 211 Participants
After the confirmed participation of North Korea, Antigua and Barbuda and the Marshall Islands , the organisers of the World Expo 2010 in Shanghai have announced that 211 countries and international organisations have signed up to attend the event. The Expo features five pavilions: "Urbanian," "City as a Form of Life," "Urban Planet," "Urban Future" and "Urban Culture" and organisers have publicly stated that they expect to host 70 million visitors from 1 May to 31 October 2010.
Carlyle Drops Investment in Xugong Group
Private equity firm Carlyle Group has abandoned plans to buy a stake in Xugong Group Construction Machinery. In 2005, Carlyle decided to buy 85 per cent of Xugong for USD375m, but has never received approval from the Chinese government. It reduced its share to 45 per cent this year, but its attempt has reportedly been "vetoed" by the Ministry of Commerce as (controlling) stakes in key industries, well-known trademarks or "old Chinese brands" cannot get clearance, Bloomberg reports. As reported earlier, Carlyle invested USD87m in Shanghai's chemical company Sinorgchem Group in early July.
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