Fortescue’s CEO is seeing ‘strong growth’ in China’s steel production

Amid concerns about the state of the Chinese economy, Australian mining company Fortescue is seeing robust steel production coming from the country. “When it comes to China, what we’ve really seen, particularly in that first quarter, is strong growth in steel production, ” Elizabeth Gaines, CEO of Fortescue, told CNBC’s “Capital Connection” on Tuesday. Data from the World Steel Association show the country increased its share of global crude steel production from 50.3% in 2017 to 51.3% in 2018.


Amid concerns about the state of the Chinese economy, Australian mining company Fortescue is seeing robust steel production coming from the country. “When it comes to China, what we’ve really seen, particularly in that first quarter, is strong growth in steel production, ” Elizabeth Gaines, CEO of Fortescue, told CNBC’s “Capital Connection” on Tuesday. Data from the World Steel Association show the country increased its share of global crude steel production from 50.3% in 2017 to 51.3% in 2018.
Fortescue’s CEO is seeing ‘strong growth’ in China’s steel production Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: eustance huang
Keywords: news, cnbc, companies, seeing, chinas, strong, growth, quarter, fortescues, million, steel, fortescue, tons, ore, production, chinese, china, ceo


Fortescue's CEO is seeing 'strong growth' in China's steel production

This photo taken on April 10, 2019 shows a Chinese employee pouring molten steel at a factory in Jinjiang in China’s eastern Fujian province.

Amid concerns about the state of the Chinese economy, Australian mining company Fortescue is seeing robust steel production coming from the country.

“When it comes to China, what we’ve really seen, particularly in that first quarter, is strong growth in steel production, ” Elizabeth Gaines, CEO of Fortescue, told CNBC’s “Capital Connection” on Tuesday.

China is the world’s largest steel making country. Data from the World Steel Association show the country increased its share of global crude steel production from 50.3% in 2017 to 51.3% in 2018.

“Last year, China produced a record 928 million tons of crude steel and, in the March quarter, we saw that up 9.9%. We have been expecting based on discussions with our customers in China that steel production will grow around 3% to 4% … this year,” Gaines said.

Furthermore, iron ore inventories at Chinese ports have been reduced to 136 million tons — the lowest level since October 2017 — she said.

Looking ahead, the Fortescue exec said there could be “some slowdown” but the demand for seaborne iron ore has been “very strong.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: eustance huang
Keywords: news, cnbc, companies, seeing, chinas, strong, growth, quarter, fortescues, million, steel, fortescue, tons, ore, production, chinese, china, ceo


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Uber is ‘totally different’ to Lyft, major investor Saudi Arabia says ahead of IPO

Uber can’t be compared to Lyft because its business is spread across the world and it has more services to offer, according to Saudi Arabia’s sovereign wealth fund. The Saudi Public Investment Fund (PIF) is one of the largest shareholders in the ride-hailing giant, with a roughly 4% stake according to a regulatory filing. That holding is estimated to be worth around $3.4 billion when Uber goes public this month. “Uber is totally different than Lyft,” Yasir Othman Al-Rumayyan, managing director o


Uber can’t be compared to Lyft because its business is spread across the world and it has more services to offer, according to Saudi Arabia’s sovereign wealth fund. The Saudi Public Investment Fund (PIF) is one of the largest shareholders in the ride-hailing giant, with a roughly 4% stake according to a regulatory filing. That holding is estimated to be worth around $3.4 billion when Uber goes public this month. “Uber is totally different than Lyft,” Yasir Othman Al-Rumayyan, managing director o
Uber is ‘totally different’ to Lyft, major investor Saudi Arabia says ahead of IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: ryan browne
Keywords: news, cnbc, companies, sharing, ipo, public, pif, yasir, company, lyft, ahead, different, investor, ride, saudi, according, totally, arabia, uber, major


Uber is 'totally different' to Lyft, major investor Saudi Arabia says ahead of IPO

Uber can’t be compared to Lyft because its business is spread across the world and it has more services to offer, according to Saudi Arabia’s sovereign wealth fund.

The Saudi Public Investment Fund (PIF) is one of the largest shareholders in the ride-hailing giant, with a roughly 4% stake according to a regulatory filing. That holding is estimated to be worth around $3.4 billion when Uber goes public this month.

“Uber is totally different than Lyft,” Yasir Othman Al-Rumayyan, managing director of the PIF, told CNBC’s Hadley Gamble on Tuesday. “Of course it’s a ride sharing company, but it’s a ride sharing company not only in the U.S. but all over the world.”

While Lyft has gained significant market share in the North American mobility space, Uber’s strategy has been to grow its platform internationally. The firm is currently present in 63 countries and more than 700 cities while Lyft only operates in the U.S. and Canada.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: ryan browne
Keywords: news, cnbc, companies, sharing, ipo, public, pif, yasir, company, lyft, ahead, different, investor, ride, saudi, according, totally, arabia, uber, major


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How two Filipino brothers staved off competition from McDonald’s to build global fast food chain Jollibee

Only, for brothers Tony Tan Caktiong and Ernesto Tanmantiong, that healthy competition came early on — in the sizable form of fast food icon McDonald’s. Tony Tan Caktiong, chairman of Jollibee Foods Corp., speaks during the Hong Kong Asian Financial Forum (AFF) in Hong Kong, China, on Monday, Jan. 19, 2015. Ernesto Tanmantiong CEO and president, Jollibee”What we did was to have a strategic planning internally,” said Tanmantiong. It’s that unique menu — which includes a sweet “Jolly Spaghetti,” h


Only, for brothers Tony Tan Caktiong and Ernesto Tanmantiong, that healthy competition came early on — in the sizable form of fast food icon McDonald’s. Tony Tan Caktiong, chairman of Jollibee Foods Corp., speaks during the Hong Kong Asian Financial Forum (AFF) in Hong Kong, China, on Monday, Jan. 19, 2015. Ernesto Tanmantiong CEO and president, Jollibee”What we did was to have a strategic planning internally,” said Tanmantiong. It’s that unique menu — which includes a sweet “Jolly Spaghetti,” h
How two Filipino brothers staved off competition from McDonald’s to build global fast food chain Jollibee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, filipino, food, philippines, global, staved, chain, build, tan, caktiong, foods, weaknesses, competition, tanmantiong, fast, jollibee, business, mcdonalds, ceo


How two Filipino brothers staved off competition from McDonald's to build global fast food chain Jollibee

In business, there’s nothing like a little healthy competition to keep you motivated. Only, for brothers Tony Tan Caktiong and Ernesto Tanmantiong, that healthy competition came early on — in the sizable form of fast food icon McDonald’s. It was then 1981 and the brothers were just setting out on the ambitious dream of creating a fast food empire in their native Philippines when McDonald’s arrived in town and threatened to consume the market with its vast appetite for international expansion. Jollibee had already grown substantially from what started in 1975 as an ice cream parlor in Quezon City, just outside of the capital Manila. But, with just a couple dozen fast food outlets scattered across the fractured archipelago, it was a small fry next to McDonald’s thousands of branches in the U.S. and international markets.

Tony Tan Caktiong, chairman of Jollibee Foods Corp., speaks during the Hong Kong Asian Financial Forum (AFF) in Hong Kong, China, on Monday, Jan. 19, 2015. Bloomberg | Getty Images

Indeed, friends told the pair as much, and advised them to retreat from the challenge, Tanmantiong revealed in a recent episode of CNBC’s “Managing Asia.” “When we learned that McDonald’s was coming into the country, friends were telling us to shy away from the competition — do (like) other businesses and to not try confronting the global giant,” Tanmantiong, Jollibee’s president and CEO, told CNBC’s Christine Tan. But Tan Caktiong refused to hear it, Tanmantiong explained. Instead, the then-28-year-old founder called the business together to form a plan of attack.

We did a SWOT analysis on our strengths, our weaknesses and what the gaps were. Ernesto Tanmantiong CEO and president, Jollibee

“What we did was to have a strategic planning internally,” said Tanmantiong. “We did a SWOT analysis on our strengths, our weaknesses and what the gaps were,” he continued, referring to a common analysis technique which aims to assess a business’ strengths, weaknesses, opportunities and threats. While McDonald’s benefited from economies of scale and decades’ more experience, Tanmantiong said they identified one major area in which the U.S. giant could not compete: Taste. Filipinos tend to favor sweeter and spicier flavors, he said, and it would be difficult for McDonald’s to adapt to that without hurting the iconic American taste for which they had become famed.

“After that strategic session, we came out quite confident. So instead of chickening out, we jokingly said, we actually serve Chickenjoy,” Tanmantiong said, referring to the company’s core fried chicken dish. It’s that unique menu — which includes a sweet “Jolly Spaghetti,” hot dogs and spicy burgers — that has fueled the now expanded Jollibee Foods’ vast international growth in the years since. The company now has more than 3,500 stores in the Philippines and another 1,000 internationally, including under its additional brands like Smashburger, Burger King Philippines and Panda Express Philippines. But as the business embarks on further expansion into the U.S., one of its key strategic markets next to China, it will again come head to head with McDonald’s — this time on the American rival’s home turf. Earlier this year, Jollibee launched its first branch in Manhattan, New York, one of currently just 37 outlets in the U.S.

Ernesto Tanmantiong, CEO of Jollibee Foods Corp., speaks during a Bloomberg Television interview at the Asia-Pacific Economic Cooperation (APEC) CEO Summit. Bloomberg | Getty Images

Tanmantiong said he, Tan Caktiong (now Jollibee chairman), their two other brothers and the rest of the team, initially planned to embark on that path by by targeting Filipino customers living overseas. But, in fact, he said, they’ve been surprised to find Jollibee’s distinct taste has a home among non-native patrons, too. Indeed, they account for 50 percent of the company’s overseas customer base. That should help Tan Caktiong on his latest mission to turn Jollibee into one of the world’s top five restaurant companies in terms of market capitalization. Having become the largest restaurant in Asia in 2014, Jollibee will have to face off against the likes of Starbucks, Yum! Brands and Domino’s to secure that accolade. Tanmantiong said, however, that his brother loves a challenge. “Tony is a visionary and he loves to dream big,” Tanmantiong said. “That’s primarily the reason why (Jollibee Foods Corporation) is where it is today. Because of that bold vision, the entire organization has been challenged, but it has been fulfilling trying to achieve the vision.” Don’t miss: How these women went from earning 20 cents a day to sending their children to college Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: karen gilchrist
Keywords: news, cnbc, companies, filipino, food, philippines, global, staved, chain, build, tan, caktiong, foods, weaknesses, competition, tanmantiong, fast, jollibee, business, mcdonalds, ceo


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Saudi Arabia’s sovereign wealth fund aims to tap debt markets twice this year after ‘amazing’ market response

Saudi Arabia’s sovereign wealth fund is planning to tap the debt market twice this year, after an overwhelmingly positive response from international investors. The Public Investment Fund (PIF) is seeking to raise debt over the coming months as part of a sustained effort to boost its firepower and help support the oil-rich kingdom’s ambitious economic transformation plans. “We asked for $8 billion syndicate loan and we got an amazing response from the markets. This year, we will do at least two


Saudi Arabia’s sovereign wealth fund is planning to tap the debt market twice this year, after an overwhelmingly positive response from international investors. The Public Investment Fund (PIF) is seeking to raise debt over the coming months as part of a sustained effort to boost its firepower and help support the oil-rich kingdom’s ambitious economic transformation plans. “We asked for $8 billion syndicate loan and we got an amazing response from the markets. This year, we will do at least two
Saudi Arabia’s sovereign wealth fund aims to tap debt markets twice this year after ‘amazing’ market response Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: sam meredith
Keywords: news, cnbc, companies, wealth, going, debt, pif, raise, response, market, markets, fund, saudi, billion, sovereign, twice, tap, think, months


Saudi Arabia's sovereign wealth fund aims to tap debt markets twice this year after 'amazing' market response

An employee looks out from the 32nd floor viewing platform of the Al Faisaliah Tower, as skyscrapers and commercial buildings stand beyond, in Riyadh, Saudi Arabia, on Thursday, Dec. 1, 2016.

Saudi Arabia’s sovereign wealth fund is planning to tap the debt market twice this year, after an overwhelmingly positive response from international investors.

The Public Investment Fund (PIF) is seeking to raise debt over the coming months as part of a sustained effort to boost its firepower and help support the oil-rich kingdom’s ambitious economic transformation plans.

“We asked for $8 billion syndicate loan and we got an amazing response from the markets. We got like $24 (billion)… That was sometime last year. This year, we will do at least two debt raises,” Yasir Bin Othman Al-Rumayyan, managing director of Saudi Arabia’s PIF, told CNBC’s Hadley Gamble at the Milken Institute Global Conference in Los Angeles on Tuesday.

When asked how much he was expecting the fund to raise over the coming months, Al-Rumayyan said: “I think it’s going to be in the neighborhood of like 14 billion Saudi riyal and for the U.S. dollar I think it’s going to be north of $8 or $10 billion.”

“And still, I mean, this doesn’t represent even 5% of our AUM (assets under management). Our target is to go between 15% to 20%. So, we’ll continue on raising debt,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: sam meredith
Keywords: news, cnbc, companies, wealth, going, debt, pif, raise, response, market, markets, fund, saudi, billion, sovereign, twice, tap, think, months


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Cramer calls Mark Zuckerberg ‘tone-deaf’ after the CEO’s privacy joke bombs at Facebook’s developers conference

Mark Zuckerberg’s joke about Facebook’s privacy scandals during the company’s F8 developer conference didn’t land well, CNBC’s Jim Cramer said Wednesday. It is rather amazing,” Cramer said on “Squawk on the Street. ” The social media giant is still facing a slew of controversies and remains subject to investigations and fines. “This company has not gotten its reputation back,” Cramer, host of “Mad Money, ” said. CNBC reported in March that agencies around the world are thought to be still lookin


Mark Zuckerberg’s joke about Facebook’s privacy scandals during the company’s F8 developer conference didn’t land well, CNBC’s Jim Cramer said Wednesday. It is rather amazing,” Cramer said on “Squawk on the Street. ” The social media giant is still facing a slew of controversies and remains subject to investigations and fines. “This company has not gotten its reputation back,” Cramer, host of “Mad Money, ” said. CNBC reported in March that agencies around the world are thought to be still lookin
Cramer calls Mark Zuckerberg ‘tone-deaf’ after the CEO’s privacy joke bombs at Facebook’s developers conference Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: jessica bursztynsky, lauren feiner
Keywords: news, cnbc, companies, reputation, privacy, conference, developers, data, scandals, starting, mark, facebooks, commission, cramer, zuckerberg, facebook, protection, ceos, tonedeaf, joke


Cramer calls Mark Zuckerberg 'tone-deaf' after the CEO's privacy joke bombs at Facebook's developers conference

Mark Zuckerberg’s joke about Facebook’s privacy scandals during the company’s F8 developer conference didn’t land well, CNBC’s Jim Cramer said Wednesday.

“He’s really tone-deaf. It is rather amazing,” Cramer said on “Squawk on the Street. ”

Zuckerberg, the company’s CEO, on Tuesday referenced Facebook’s several scandals over the past year, at a time when the company is being questioned for its role in distributing users’ data without their permission.

“I know that we don’t exactly have the strongest reputation on privacy right now to put it lightly,” he said, “but I’m committed to doing this well and to starting a new chapter for our products.”

The social media giant is still facing a slew of controversies and remains subject to investigations and fines. Zuckerberg and other top Facebook executives have been called to testify in front of congressional committees, starting when the public learned that Cambridge Analytica exploited Facebook user data to try to influence the 2016 U.S. presidential election.

“This company has not gotten its reputation back,” Cramer, host of “Mad Money, ” said.

CNBC reported in March that agencies around the world are thought to be still looking into Facebook, including the German Federal Cartel Office, Belgian Data Protection Authority, Irish Data Protection Commission, Securities and Exchange Commission and Federal Trade Commission along with other U.S. organizations.

“Holding Mark Zuckerberg and other top Facebook executives personally at fault and liable for further wrongdoing would send a powerful message to business leaders across the country: You will pay a hefty price for skirting the law and deceiving consumers,” Sen. Richard Blumenthal, D-Conn., a member of the Senate Judiciary Committee, said in an April statement.

Facebook did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: jessica bursztynsky, lauren feiner
Keywords: news, cnbc, companies, reputation, privacy, conference, developers, data, scandals, starting, mark, facebooks, commission, cramer, zuckerberg, facebook, protection, ceos, tonedeaf, joke


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Europe’s savior or disruptor? Macron wanted an EU revolution — but little has changed

French President Emmanuel Macron has frustrated many of his European counterparts with his approach to EU politics. He has not been able to build the pan-European platform he wanted, Shahin Vallee, an economist who advised Macron when the president was France’s economy minister, told CNBC over the phone. It’s just something to be discussed and then we will be maybe informed?,” Teodorovici told CNBC in early April. Every member country has one commissioner in Brussels — preventing the U.K. from h


French President Emmanuel Macron has frustrated many of his European counterparts with his approach to EU politics. He has not been able to build the pan-European platform he wanted, Shahin Vallee, an economist who advised Macron when the president was France’s economy minister, told CNBC over the phone. It’s just something to be discussed and then we will be maybe informed?,” Teodorovici told CNBC in early April. Every member country has one commissioner in Brussels — preventing the U.K. from h
Europe’s savior or disruptor? Macron wanted an EU revolution — but little has changed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: silvia amaro
Keywords: news, cnbc, companies, told, ghez, wanted, disruptor, president, eu, little, revolution, changed, brexit, macron, politics, savior, europes, minister, european


Europe's savior or disruptor? Macron wanted an EU revolution — but little has changed

Emmanuel Macron, France’s president, speaks ahead of the Balkan summit at the Chancellery in Berlin, Germany, on Monday, April 29, 2019.

French President Emmanuel Macron has frustrated many of his European counterparts with his approach to EU politics. After being elected in May 2017, Macron was dubbed as the next leading figure in Europe — challenging German Chancellor Angela Merkel as the main champion of the European Union. Macron, the youngest ever French president, defeated his country’s nationalist forces and made big promises to reform the 28-member bloc. However, two years into his presidency he seems to be struggling to get the Europe he envisioned. He has not been able to build the pan-European platform he wanted, Shahin Vallee, an economist who advised Macron when the president was France’s economy minister, told CNBC over the phone. “He has made his European policy entirely dependent on bilateral agreements with Germany,” Vallee said, adding that this approach has been blocked by different coalitions inside the EU. For example, Macron presented plans to put together a euro zone budget and an EU-wide taxation on tech firms. However, his proposals were clearly downsized to get the backing of the German government and were opposed by different governments, including the Dutch, the Finnish and the Irish. Eugen Teodorovici, Romania’s finance minister, has expressed his frustration toward this Franco-German alliance. “All the financial and budgetary issues at EU level will be discussed first and foremost in this format, between Germany and France, and then what will remain for us? To discuss something that was already agreed at the highest level between the strongest member states? It’s just something to be discussed and then we will be maybe informed?,” Teodorovici told CNBC in early April.

Perhaps Macron’s biggest drive for integration came just four months in his presidency, when he addressed students at the Sorbonne University in Paris. He declared that the EU should build a joint military force by the next decade, a common defense budget and have a finance minister for the euro zone with its own budget. There’s no common agreement at the EU-level for any of these ideas yet. More recently, during a European summit to decide on the conditions for another extension to Brexit, Macron played hard ball and found himself isolated.

So much for his European leadership … He didn’t make any friends tonight. Brussels-based official

Given the impasse in London over how the U.K. should leave the EU, Prime Minister Theresa May asked her counterparts for more time to deal with the issue. Most European countries favored a long delay, of about a year, to avoid repeated meetings over Brexit. However, with a new political cycle later this year, following EU elections, Macron pushed for a shorter extension. His efforts culminated with an agreement to delay Brexit day for six months only, until October 31. In those discussions, the French president reportedly even wanted to remove the U.K.’s right to have a representative at the European Commission, the EU’s executive body. Every member country has one commissioner in Brussels — preventing the U.K. from having one would diminish its ability to have any influence on European politics. “The problem is that the stuff he asks for violates the treaty,” a Brussels-based official, with knowledge of the summit’s discussions but did not want to be named due to the sensitivity of the situation, told CNBC on the night of the meeting. “So much for his European leadership … He didn’t make any friends tonight,” the same official said. Also recently, France was the only country in the EU to say no to starting trade talks with the United States. Macron is of the opinion that the EU should not work toward an agreement over trade while President Donald Trump doesn’t support the latest climate change deal. However, some analysts believe Macron is not truly cut-off from others and changing the EU would be a lengthy and arduous task for anyone. “I don’t think he has isolated himself at all. He is defending a viewpoint that is not widely shared by European partners, but that is shaping the European agenda,” Jeremy Ghez, professor of economics and international affairs at H.E.C. Paris business school, told CNBC via email. Arguably, without French opposition, the latest decision on Brexit could have resulted in a much longer delay. “During the last European summit (in late March), the (leaders) were supposed to talk about China and never really did. More broadly, as the EU is preparing for a new round of trade negotiations with the U.S. and in the age of 5G technology and all its geopolitical and security ramifications, the European Union cannot be held hostage by this issue of Brexit. And this is an important point to defend,” Ghez told CNBC. “A redefinition of the EU project will not happen overnight. It’s easier to brand Macron as out of touch with the ‘regular people,’ which he may very well be, than to redefine the way we do policy and politics within the EU,” Ghez also said, adding that the upcoming European parliamentary elections will be a defining moment for Macron and the EU’s future as whole.

European citizens will head to the polls in late May, in an election that could shake Brussels to the core. For the first time in 40 years, anti-establishment parties are expected to end the dominance of mainstream politics at the European Union. Ghez argued that Macron has succeeded in stifling traditional political opposition at home and that his real opponents are Matteo Salvini (Italy’s deputy prime minister) and Viktor Orban (the prime minister of Hungary). Arguably, Macron’s fiercest opposition in France are the regular street protests, the so-called Yellow Vests, who have complained about the president’s reforms and have demanded his resignation. “The stakes are high: it’s not only about his presidency but about the ability of the EU to reinvent itself from the center … Expect many stakeholders, including Macron, to fight hard as a result. The jury is still out on who wins,” Ghez said.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: silvia amaro
Keywords: news, cnbc, companies, told, ghez, wanted, disruptor, president, eu, little, revolution, changed, brexit, macron, politics, savior, europes, minister, european


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Massive Saudi wealth fund zeros in on China, plans to open new Asia office

Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles. In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” I don’t mind growing the 6% if I’m entering now i


Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles. In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” I don’t mind growing the 6% if I’m entering now i
Massive Saudi wealth fund zeros in on China, plans to open new Asia office Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: natasha turak
Keywords: news, cnbc, companies, wealth, told, massive, zeros, fund, office, im, alrumayyan, saudi, asia, plans, international, open, china, chinese


Massive Saudi wealth fund zeros in on China, plans to open new Asia office

Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. 1 target” remains the U.S., its managing director told CNBC on Tuesday.

The Saudi Public Investment Fund is one of the Middle East’s largest, with some $300 billion in assets under management and an aim to increase that to $2 trillion by 2030 as it aggressively invests in both domestic and international markets.

“We’re opening up in New York and London, San Francisco. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles.

In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” That follows Al-Rumayyan, who has served as the fund’s director since 2015, recently visiting Beijing for a forum on China’s Belt and Road Initiative, which culminated in billions of dollars worth of deals to expand the flagship Chinese project that seeks to invest across Asia, Africa and parts of Europe.

“This is the first time for me to go out and meet asset managers, companies, Chinese entrepreneurs, and they are really very impressive,” Al-Rumayyan said, speaking on the topic of China. “The GDP growth now is, I think, at 6.25% which is larger than most of the other countries around the world. But the concern is it came down from 11-plus percent. I don’t mind growing the 6% if I’m entering now in China. The Softbank Vision Fund also deployed big amounts of money in China and some of the Chinese companies. So we are OK in the longer term.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: natasha turak
Keywords: news, cnbc, companies, wealth, told, massive, zeros, fund, office, im, alrumayyan, saudi, asia, plans, international, open, china, chinese


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Venezuela’s Guaido calls for ‘largest march in history’ in uprising effort

In his boldest effort yet to gain the support of the armed forces, Guaido appeared early Tuesday morning outside a Caracas air force base with dozens of National Guard members. That triggered a day of violent protests, leaving more than 100 injured but without any concrete signs of defection from the armed forces leadership. “We know that Maduro does not have the backing or the respect of the armed forces,” Guaido said in a video message posted to his social media accounts on Tuesday evening. Wh


In his boldest effort yet to gain the support of the armed forces, Guaido appeared early Tuesday morning outside a Caracas air force base with dozens of National Guard members. That triggered a day of violent protests, leaving more than 100 injured but without any concrete signs of defection from the armed forces leadership. “We know that Maduro does not have the backing or the respect of the armed forces,” Guaido said in a video message posted to his social media accounts on Tuesday evening. Wh
Venezuela’s Guaido calls for ‘largest march in history’ in uprising effort Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, largest, calls, maduro, protest, president, forces, support, history, armed, opposition, guaido, effort, supporters, venezuelas, uprising, venezuelan


Venezuela's Guaido calls for 'largest march in history' in uprising effort

Venezuelan opposition leader and self-proclaimed acting president Juan Guaido (C) speaks to supporters next to high-profile opposition politician Leopoldo Lopez, who had been put under home arrest by Venezuelan President Nicolas Maduro’s regime, and members of the Bolivarian National Guard who joined his campaign to oust Maduro, in Caracas on April 30, 2019.

Venezuelans were expected to take to the streets on Wednesday for what opposition leader Juan Guaido pledged would be the “largest march” in the country’s history, a day after he called for the military to oust President Nicolas Maduro.

In his boldest effort yet to gain the support of the armed forces, Guaido appeared early Tuesday morning outside a Caracas air force base with dozens of National Guard members. That triggered a day of violent protests, leaving more than 100 injured but without any concrete signs of defection from the armed forces leadership.

“We know that Maduro does not have the backing or the respect of the armed forces,” Guaido said in a video message posted to his social media accounts on Tuesday evening. “We have seen that protest yields results. We should keep up the pressure.”

Whether the protest turnout meets those lofty hopes will provide a key test for Guaido, as some supporters grow frustrated that Maduro remains in office more than three months after Guaido — who leads the opposition-controlled National Assembly — invoked the constitution to assume an interim presidency, arguing Maduro’s May 2018 re-election was illegitimate.

While Guaido earned the backing of the United States and most Western countries, the armed forces have stood by Maduro, who retains the support of allies like Russia, China and Cuba. That has frustrated Guaido’s bid to assume the day-to-day functions of government on an interim basis – which he says would be a prelude to calling new elections.

Venezuelan living standards have declined even further in the first several months of the year, with a series of blackouts and water shortages adding to hyperinflation and chronic shortages of food and medicine that have prompted millions to emigrate.

“I hope this will be the last time we have to take to the streets,” said Claudia Riveros, a 36-year-old bakery worker carrying a Venezuelan flag during Tuesday’s protest. “I want to see the end of this usurping government.”

Maduro, a socialist who calls Guaido a U.S. puppet seeking to orchestrate a coup against him, has also called on supporters to march on Wednesday.

“Tomorrow, the first of May, we will have a large, millions-strong march of the working class,” Maduro said in a Tuesday night television address. “We have been confronting different types of aggression and attempted coups never before seen in our history.”

Guaido’s choice of International Workers’ Day for a major march comes as he is making appeals to union leaders and public workers, a traditional base of support for Maduro and his predecessor and mentor, the late President Hugo Chavez.

“If he does get some degree of participation from labor movements, then that can be an additional feather in his cap,” said Risa Grais-Targow, the Latin America director at Eurasia Group in Washington, adding that the march would be “a significant barometer of his support and capacity to mobilize.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, largest, calls, maduro, protest, president, forces, support, history, armed, opposition, guaido, effort, supporters, venezuelas, uprising, venezuelan


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Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats

Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019. Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned. In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi. Horn has been a longtime backer of


Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019. Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned. In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi. Horn has been a longtime backer of
Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: brian schwartz
Keywords: news, cnbc, companies, congressional, rep, event, horn, president, studios, nancy, hosting, fundraiser, house, pelosi, democrats, dccc, committee, seats, chairman, dca, disney


Disney Studios Chairman Alan Horn hosting fundraiser for Nancy Pelosi and House Democrats

Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., March 27, 2019.

Walt Disney Studios Chairman Alan Horn is hosting a fundraiser at his Los Angeles mansion for House Majority Leader Nancy Pelosi and the Democratic Congressional Campaign Committee, CNBC has learned.

In an email to CNBC, Horn confirmed details of the event that he and his wife, Cindy, are holding for Pelosi.

“We are in fact hosting an event for Nancy and the DCCC at our home on May 30,” he said on Tuesday.

There are at least 12 other House Democrats attending the event, including House Intel Committee chairman Rep. Adam Schiff, D-CA, DCCC Chairwoman Rep. Cheri Bustos, D-IL, Rep. Gil Cisneros, D-CA, Rep. Abby Finkenauer, D-IA, Rep. Katie Hill, D-CA, Rep. Nita Lowey, D-NY, Rep.Richard Neal, D-MA, Rep. Harley Rouda, D-CA, and Rep. Lauren Underwood, D-IL, according to a senior Democratic congressional aide with direct knowledge of the matter.

Horn has been a longtime backer of the DCCC, the official campaign arm for Democrats running for seats in the U.S. House of Representatives. He donated just over $95,000 to the committee during the 2018 congressional midterm elections, according to Federal Election Commission records. During former President Barack Obama’s second term in office, Horn hosted at least one DCCC fundraising event with the then-commander in chief as the featured guest.

He was also a supporter of Hillary Clinton when she ran for the White House in 2016, helping her raise at least $100,000 and contributing $50,000 directly to her joint fundraising committee, the Hillary Victory Fund, according to the nonpartisan Center for Responsive Politics.

Horn referred questions about how much each ticket will cost and names of other attendees to his political consultant who declined to respond to follow up requests for comment. Tickets for a prior fundraiser with Obama as the marquee guest ranged from $15,000 to $66,800 per couple.

A spokesman for the DCCC said that the event was closed to the press while a representative for Pelosi’s office did not return an email seeking comment.

A strong year of fundraising before the next congressional election in 2020 will likely prove crucial for House Democrats if they want to successfully defend their majority.

In 2018, the party flipped at least 40 seats and pulled off enough victories to retake control of the House.

The nonpartisan Cook Political Report, however, shows that in 2020, 31 Democrats are up for re-election are in districts carried by President Donald Trump when he first ran for president three years ago. It marks 17 Democrat-held seats as toss-ups, which includes districts in New York, Iowa, Virginia and South Carolina.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: brian schwartz
Keywords: news, cnbc, companies, congressional, rep, event, horn, president, studios, nancy, hosting, fundraiser, house, pelosi, democrats, dccc, committee, seats, chairman, dca, disney


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Makyajart Toptan Kozmetik


Makyajart Toptan Kozmetik Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, makyajart, kozmetik, toptan



Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, makyajart, kozmetik, toptan


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