Briefs, October 16, 2012
Huaneng Power International said its power output during the January-September period fell 5.4 per cent compared with a year earlier. The company said in a filing with the Shanghai Stock Exchange that the drop in output was partly due to slowing demand caused by the economic slowdown. Electricity consumption is considered to be a reliable indicator of a country's economic condition. Reuters
Sales by Japan's Nissan Motor on the mainland are improving day by day, executive vice-president Hiroto Saikawa said yesterday. He said he hoped to see sales return to a normal pace in about two months, though it was a bit early to speak of the future. Nissan's China car sales, excluding imports, fell 34.6 per cent last month from a year earlier. Reuters
Carmaker Volvo said it would halt production from October 29 to November 2 at its Torslanda plant in Sweden, reducing output by about 3,000 vehicles, as continued low demand, especially in Europe, its main market, makes its growth targets more elusive. Volvo, owned by Zhejiang Geely Holding, has been hindered by the European economic downturn, slower Chinese demand and internal divisions. Reuters
