Saudi Arabia to lead a trillion dollar MENA investment splurge

The group says planned investments account for the majority of the spending at $613 billion while committed investments cover the remainder. Oil remains key, but gas is risingThe power sector accounts for the largest share of total investments at $348 billion. Iraq is second behind Saudi Arabia for committed and planned investments, followed by Iran, Egypt and the United Arab Emirates (UAE). The Emirates is the only country in the GCC (Gulf Cooperation Council) with committed investments up year


The group says planned investments account for the majority of the spending at $613 billion while committed investments cover the remainder. Oil remains key, but gas is risingThe power sector accounts for the largest share of total investments at $348 billion. Iraq is second behind Saudi Arabia for committed and planned investments, followed by Iran, Egypt and the United Arab Emirates (UAE). The Emirates is the only country in the GCC (Gulf Cooperation Council) with committed investments up year
Saudi Arabia to lead a trillion dollar MENA investment splurge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: dan murphy
Keywords: news, cnbc, companies, planned, dollar, trillion, investments, investment, billion, countries, splurge, sector, saudi, committed, lead, mena, arabia, oil, power, energy


Saudi Arabia to lead a trillion dollar MENA investment splurge

The energy sector in the Middle East and North Africa will amass almost $1 trillion in investment over the next five years, as countries build out energy capabilities and pivot to renewables, according to new research.

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank with around $7 billion in total assets, provides an annual estimate for both planned and committed investments for 2019 to 2023.

“We are seeing growth in the total amount of investments going into the energy sector,” Apicorp CEO Ahmed Attiga told CNBC’s “Capital Connection” on Wednesday.

The group says planned investments account for the majority of the spending at $613 billion while committed investments cover the remainder.

Oil remains key, but gas is rising

The power sector accounts for the largest share of total investments at $348 billion. Of that, there are $90 billion worth of projects currently under execution.

“The power sector is really showing tremendous growth, and this is a direct outcome of the countries of the region diversifying their energy mix and also trying to rely on renewables as a major source of energy,” Attiga said.

“Most of the countries of the region are determined now to implement an energy transition regardless of the volatility of oil prices,” he added.

The report said the case for switching from oil to gas and renewables remains strong in countries with sizeable gas reserves, such as Saudi Arabia and Iraq, or where the share of liquids in power generation remains significant.

Total investments in the gas sector will amount to $186 billion over the five years, it said, which includes $87 billion of committed investment. Despite that, the oil sector (upstream, midstream and refining) is still a key investment driver at $304 billion, of which committed investments account for a little under 50% or $138 billion.

Saudi Arabia takes regional center stage

Saudi Arabia has the largest committed and planned investments in the medium term, worth more than $140 billion, as it looks to make renewable and possibly nuclear energy a bigger component of its supply mix.

Iraq is second behind Saudi Arabia for committed and planned investments, followed by Iran, Egypt and the United Arab Emirates (UAE). The Emirates is the only country in the GCC (Gulf Cooperation Council) with committed investments up year-on-year, with upstream oil investments set to reach $20 billion.

Except for Lebanon, all net-importers in the region experienced year-on-year growth in their five-year investment outlook, with Jordan, Iraq and Tunisia witnessing the largest percentage increase.

Paying for energy investments

Despite the growing figures, the report said the rate of transition from planned to committed investments has been poor, due to renewed uncertainty about growth and oil prices.

That means non-government lead investments are rising, particularly in countries with weaker fiscal reserves or a higher share of power sector projects. “We are seeing the trend considerably increasing,” said Attiga.

“It’s no longer the governments that’s shouldering the bulk of these investments, but rather an increase in the role of the private sector, and we think this is a very good development,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: dan murphy
Keywords: news, cnbc, companies, planned, dollar, trillion, investments, investment, billion, countries, splurge, sector, saudi, committed, lead, mena, arabia, oil, power, energy


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Some international banks are finally seeing their China investments pay off

As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business. In November, UBS became the first foreign bank to receive Beijing’s approval to take a majo


As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business. In November, UBS became the first foreign bank to receive Beijing’s approval to take a majo
Some international banks are finally seeing their China investments pay off Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: evelyn cheng, -chantal grinderslev, partner at z-ben
Keywords: news, cnbc, companies, pay, stake, investments, switzerlandbased, international, finally, china, ubs, topped, stakes, zben, seeing, foreign, firms, venture, banks


Some international banks are finally seeing their China investments pay off

As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack.

UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. Data was collected as of December 2018, and scored firms by three business lines: onshore, outbound and inbound.

For UBS, it was the second year the Switzerland-based asset manager ranked first. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business.

In November, UBS became the first foreign bank to receive Beijing’s approval to take a majority stake in its joint venture with China Guodian Capital. For the last decades, previous policy limited foreign banks to minority stakes, giving local partners more control.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: evelyn cheng, -chantal grinderslev, partner at z-ben
Keywords: news, cnbc, companies, pay, stake, investments, switzerlandbased, international, finally, china, ubs, topped, stakes, zben, seeing, foreign, firms, venture, banks


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Workers want those hard-to-find socially responsible investments in their 401(k) plans: Survey

If you’re looking in your 401(k) plan for investments that back clean energy or gender and racial diversity, you may have a tough time finding them. A recent survey from Natixis Investment Managers finds that many workers would be more likely to save for retirement if their employer-sponsored retirement plan offered socially conscious investments. Of the 1,000 workers surveyed, 61% of employees said they would start saving or increase their investments if that also meant doing social good. At th


If you’re looking in your 401(k) plan for investments that back clean energy or gender and racial diversity, you may have a tough time finding them. A recent survey from Natixis Investment Managers finds that many workers would be more likely to save for retirement if their employer-sponsored retirement plan offered socially conscious investments. Of the 1,000 workers surveyed, 61% of employees said they would start saving or increase their investments if that also meant doing social good. At th
Workers want those hard-to-find socially responsible investments in their 401(k) plans: Survey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: lorie konish, wolfgang kaehler, lightrocket, getty images, krisanapong detraphiphat, moment, dominick reuter, afp, pauline askin, steve parsons
Keywords: news, cnbc, companies, survey, plans, responsible, retirement, surveyed, save, social, workers, socially, hardtofind, investment, plan, 401k, investments, natixis


Workers want those hard-to-find socially responsible investments in their 401(k) plans: Survey

If you’re looking in your 401(k) plan for investments that back clean energy or gender and racial diversity, you may have a tough time finding them.

A recent survey from Natixis Investment Managers finds that many workers would be more likely to save for retirement if their employer-sponsored retirement plan offered socially conscious investments.

Of the 1,000 workers surveyed, 61% of employees said they would start saving or increase their investments if that also meant doing social good. Millennials, 66%, were even more likely to agree with that statement.

At the same time, just 13% of workers surveyed said they have access to environmental, social and governance — or ESG — investments in their workplace retirement plan.

More from Impact Investing:

Investing with equal pay in mind is more difficult than you think

Leonardo DiCaprio is investing in a greener way to save, spend

These public companies do the most to help prevent climate change

That level of access to socially conscious investments is “not good enough,” according to Edward Farrington, executive vice president at Natixis Investment Managers.

That is because those kinds of investments offer key benefits, Farrington said, including higher-quality companies that can potentially withstand market fluctuations better.

Natixis and other financial firms are rolling out investment products that reflect these ideals.

But employers are slow to pick up these options. And experts say there are a couple of reasons why they are holding back.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: lorie konish, wolfgang kaehler, lightrocket, getty images, krisanapong detraphiphat, moment, dominick reuter, afp, pauline askin, steve parsons
Keywords: news, cnbc, companies, survey, plans, responsible, retirement, surveyed, save, social, workers, socially, hardtofind, investment, plan, 401k, investments, natixis


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4 self-made millionaires reveal the best investments they ever made

“Work for companies that give you equity, like I did at my first startup 2Market and later at AOL. There are so many out there, and they’re not all in Silicon Valley anymore. Also, understand what stock options are. If it scares you or you don’t understand, figure it out. —Kara Goldin, founder and CEO of Hint Inc.; creator of The Kara Network, a digital resource for entrepreneurs; and host of the “Unstoppable” podcast; follow Kara on Twitter and Instagram


“Work for companies that give you equity, like I did at my first startup 2Market and later at AOL. There are so many out there, and they’re not all in Silicon Valley anymore. Also, understand what stock options are. If it scares you or you don’t understand, figure it out. —Kara Goldin, founder and CEO of Hint Inc.; creator of The Kara Network, a digital resource for entrepreneurs; and host of the “Unstoppable” podcast; follow Kara on Twitter and Instagram
4 self-made millionaires reveal the best investments they ever made Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: the oracles, credit, -james daily, founding partner, the law group
Keywords: news, cnbc, companies, dont, millionaires, kara, work, unstoppable, twitter, reveal, theyre, tokara, valley, selfmade, investments, best, stock, understand


4 self-made millionaires reveal the best investments they ever made

“Work for companies that give you equity, like I did at my first startup 2Market and later at AOL. There are so many out there, and they’re not all in Silicon Valley anymore. Also, understand what stock options are. Take a class if you need to. If it scares you or you don’t understand, figure it out. Don’t leave it for someone else to.”

—Kara Goldin, founder and CEO of Hint Inc.; creator of The Kara Network, a digital resource for entrepreneurs; and host of the “Unstoppable” podcast; follow Kara on Twitter and Instagram


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: the oracles, credit, -james daily, founding partner, the law group
Keywords: news, cnbc, companies, dont, millionaires, kara, work, unstoppable, twitter, reveal, theyre, tokara, valley, selfmade, investments, best, stock, understand


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Gates, Bezos and other investors are pouring billions into clean tech

As funding for coal- and gas-fired power generation continues to decline, investors long leery of so-called “clean tech” plays are taking a shine to renewable-energy start-ups and other carbon-reducing technologies. That’s got investors — from major global investment banks to billionaire philanthropists such as Bill Gates, Jeff Bezos and Jack Ma — looking at renewable energy differently than they did just a few years ago. Shifts in energy market trends, investment patterns and the global mindset


As funding for coal- and gas-fired power generation continues to decline, investors long leery of so-called “clean tech” plays are taking a shine to renewable-energy start-ups and other carbon-reducing technologies. That’s got investors — from major global investment banks to billionaire philanthropists such as Bill Gates, Jeff Bezos and Jack Ma — looking at renewable energy differently than they did just a few years ago. Shifts in energy market trends, investment patterns and the global mindset
Gates, Bezos and other investors are pouring billions into clean tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: clay dillow, john lamparski, getty images, alphabets moonshot factory, krisanapong detraphiphat, moment, vcg, adam jeffery, michael short
Keywords: news, cnbc, companies, bezos, investment, companies, energy, storage, investments, clean, gates, pouring, renewable, technologies, systems, investors, technology, startups, tech, billions


Gates, Bezos and other investors are pouring billions into clean tech

As funding for coal- and gas-fired power generation continues to decline, investors long leery of so-called “clean tech” plays are taking a shine to renewable-energy start-ups and other carbon-reducing technologies.

According to reports from the International Energy Agency, electricity investments are flowing toward renewables, networks and flexibility, while at the same time more than 100 globally significant financial institutions have implemented policies restricting investments in carbon-intensive fossil fuels like coal.

That’s got investors — from major global investment banks to billionaire philanthropists such as Bill Gates, Jeff Bezos and Jack Ma — looking at renewable energy differently than they did just a few years ago. Shifts in energy market trends, investment patterns and the global mindset toward climate change are creating new rationales for investments in companies and projects in the clean energy space.

But the technologies themselves — which range from more efficient means of generating renewable energy to distributed grid storage systems and better battery technology — have also evolved substantially since the last renewable investment boom tapered in the wake of the 2008 financial crisis.

More from Impact Investing:

Here’s what Warren Buffett thinks about climate change

How investments can make money and help the environment

Top-rated responsible investing funds

“In the last few years, the number of technologies ripe for investment has expanded dramatically,” said Ravi Manghani, research director for energy storage at Wood Mackenzie, an energy research and consultancy firm. “It’s no longer just three or four technology verticals.”

That’s why Gates, Bezos, Ma and dozens of other high-net-worth individuals (including Michael Bloomberg and Richard Branson) launched Breakthrough Energy Ventures (BEV). The $1 billion fund will forgo near-term returns on investments, providing much-needed time and operating capital to researchers and companies solving difficult technical problems in the capital-intensive renewable energy space. The fund currently lists 14 companies in its portfolio, ranging from startups working on battery and grid storage technologies to companies developing better geothermal and even fusion energy generation systems. Investments range from $200,000 to $20 million, depending on each company’s needs and stage of development.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: clay dillow, john lamparski, getty images, alphabets moonshot factory, krisanapong detraphiphat, moment, vcg, adam jeffery, michael short
Keywords: news, cnbc, companies, bezos, investment, companies, energy, storage, investments, clean, gates, pouring, renewable, technologies, systems, investors, technology, startups, tech, billions


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Italy is reportedly going to support China’s Belt and Road program

Italy’s undersecretary in the economic development ministry, Michele Geraci, told the Financial Times his country is in negotiations to sign a memorandum of understanding in support of the program. The plan is to sign in time for Xi’s visit by the end of March, Geraci said in the article. Such public support would come at a critical time in China’s relations with the U.S. and the European Union, of which Italy is a founding member. Xi is expected to meet with U.S. President Donald Trump by the e


Italy’s undersecretary in the economic development ministry, Michele Geraci, told the Financial Times his country is in negotiations to sign a memorandum of understanding in support of the program. The plan is to sign in time for Xi’s visit by the end of March, Geraci said in the article. Such public support would come at a critical time in China’s relations with the U.S. and the European Union, of which Italy is a founding member. Xi is expected to meet with U.S. President Donald Trump by the e
Italy is reportedly going to support China’s Belt and Road program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: evelyn cheng, bloomberg, getty images
Keywords: news, cnbc, companies, geraci, italy, going, belt, reportedly, told, chinas, investments, financial, program, end, support, sign, times, road, council


Italy is reportedly going to support China's Belt and Road program

Italy’s undersecretary in the economic development ministry, Michele Geraci, told the Financial Times his country is in negotiations to sign a memorandum of understanding in support of the program. The plan is to sign in time for Xi’s visit by the end of March, Geraci said in the article.

“We want to make sure that ‘Made in Italy’ products can have more success in terms of export volume to China, which is the fastest-growing market in the world,” he added in the report.

Such public support would come at a critical time in China’s relations with the U.S. and the European Union, of which Italy is a founding member.

Xi is expected to meet with U.S. President Donald Trump by the end of March to clinch a deal to end their trade impasse. This week, the EU Council adopted its first-ever framework of rules on foreign direct investment, amid a rise of Chinese investments in the region and concerns about protection of key technologies.

Garrett Marquis, White House National Security Council spokesperson, told the FT that the U.S. is skeptical of the benefits to Italy from an endorsement of the Chinese initiative, and urged allies and partners to increase the pressure on Beijing to align its global investments with international practices.

A representative from the Italian embassy in Beijing was not immediately available for comment when contacted by CNBC.

Read the full story in the Financial Times here.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: evelyn cheng, bloomberg, getty images
Keywords: news, cnbc, companies, geraci, italy, going, belt, reportedly, told, chinas, investments, financial, program, end, support, sign, times, road, council


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The world’s largest wealth fund picked up $22 billion worth of stocks during 2018 rout

The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018. Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December. During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 perce


The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018. Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December. During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 perce
The world’s largest wealth fund picked up $22 billion worth of stocks during 2018 rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: david reid, krister soerboe bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, worth, billion, market, 2018, norges, rout, wealth, picked, bank, investments, value, stocks, largest, funds, 22, fund, equity


The world's largest wealth fund picked up $22 billion worth of stocks during 2018 rout

The world’s biggest sovereign wealth fund went on a stock buying spree during the market turmoil at the end of 2018.

Norges Bank, which manages Norway’s $1 trillion oil-funded wealth pot, said it bought 185 billion crowns ($21.7 billion) worth of equities, with the bulk of purchases coming in November and December.

The U.S. stock market had its worst December since the Great Depression as investors feared trade tensions with China and rate hikes by the Federal Reserve.

Despite the Norges Bank purchases, the fund’s overall market value dipped over the course of 2018 by 6.1 percent, marking a steep reverse from the 13.7 percent growth witnessed in 2017.

“This is the first time that the fund has had a considerable decline in value,” CEO Yngve Slyngstad told a news conference on Wednesday. “The only other time was a slight decline in 2002.”

The bank said the fund’s market value was $967 million at 31 December 2018. On the same day, 66.3 percent was invested in equities, 3 percent in unlisted real estate and 30.7 percent in fixed income.

In 2017, Norges Bank said it intended to raise its equity allocation over time to 70 percent.

During 2018, equity investments for the fund returned a loss of 9.5 percent, while unlisted real estate investments gained 7.5 percent, and fixed-income investments returned 0.6 percent.

At the end of 2018, the fund’s biggest equity holdings were in Microsoft ($7.5 billion), Apple ($7.3 billion), Alphabet ($6.7 billion), Amazon ($6.4 billion), Nestle ($6.3 billion) and Royal Dutch Shell ($6 billion).

After a strong start to 2019 for stocks, the Norges Bank website said the fund is currently valued at $1.03 trillion.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: david reid, krister soerboe bloomberg, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, worth, billion, market, 2018, norges, rout, wealth, picked, bank, investments, value, stocks, largest, funds, 22, fund, equity


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Here are the stocks Warren Buffett says he’s betting on for the long run

Warren Buffett’s Berkshire Hathaway is betting on companies like Apple, Goldman Sachs and American Express for the long run, the “Oracle of Omaha” said in his annual letter to shareholders released Saturday. The letter showed Berkshire’s investment in Apple was worth more than $40 billion in terms of market value at the end of 2018. Berkshire’s investments in Goldman Sachs and American Express were worth $3.13 billion and $14.45 billion, respectively. Overall, Berkshire’s common stock investment


Warren Buffett’s Berkshire Hathaway is betting on companies like Apple, Goldman Sachs and American Express for the long run, the “Oracle of Omaha” said in his annual letter to shareholders released Saturday. The letter showed Berkshire’s investment in Apple was worth more than $40 billion in terms of market value at the end of 2018. Berkshire’s investments in Goldman Sachs and American Express were worth $3.13 billion and $14.45 billion, respectively. Overall, Berkshire’s common stock investment
Here are the stocks Warren Buffett says he’s betting on for the long run Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: fred imbert, david a grogan
Keywords: news, cnbc, companies, value, buffett, long, hes, billion, berkshires, market, letter, warren, investments, end, companies, stocks, run, betting, 2018, worth


Here are the stocks Warren Buffett says he's betting on for the long run

Warren Buffett’s Berkshire Hathaway is betting on companies like Apple, Goldman Sachs and American Express for the long run, the “Oracle of Omaha” said in his annual letter to shareholders released Saturday.

The letter showed Berkshire’s investment in Apple was worth more than $40 billion in terms of market value at the end of 2018. Berkshire’s investments in Goldman Sachs and American Express were worth $3.13 billion and $14.45 billion, respectively.

Buffett said that he and Charlie Munger, Berkshire’s vice chairman, don’t view these holdings “as a collection of ticker symbols – a financial dalliance to be terminated because of downgrades by ‘the Street,’ expected Federal Reserve actions, possible political developments, forecasts by economists or whatever else might be the subject du jour.”

“What we see in our holdings, rather, is an assembly of companies that we partly own and that, on a weighted basis, are earning about 20% on the net tangible equity capital required to run their businesses. These companies, also, earn their profits without employing excessive levels of debt,” Buffett added.

His investments in 2018 did not have a great year because of the market rollover in the fourth quarter, but the long-term investor remains unfazed by short-term setbacks. Buffett noted in the letter that Berkshire suffered a $20.6 billion loss “from a reduction in the amount of unrealized capital gains that existed in our investment holdings.”

Overall, Berkshire’s common stock investments totaled $172.75 billion in market value at the end of 2018, up from $170.54 billion at the end of 2017.

Below is the full list of Berkshire’s common stock investments at the end of 2018:


Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: fred imbert, david a grogan
Keywords: news, cnbc, companies, value, buffett, long, hes, billion, berkshires, market, letter, warren, investments, end, companies, stocks, run, betting, 2018, worth


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No-deal Brexit isn’t necessarily a bad thing: Belmont Investments

No-deal Brexit isn’t necessarily a bad thing: Belmont Investments3 Hours AgoAt this point, with regard to the Brexit deal, the U.K. and EU should just “jump” and “design the parachute on the way down,” says Jeremy O’Friel of Belmont Investments.


No-deal Brexit isn’t necessarily a bad thing: Belmont Investments3 Hours AgoAt this point, with regard to the Brexit deal, the U.K. and EU should just “jump” and “design the parachute on the way down,” says Jeremy O’Friel of Belmont Investments.
No-deal Brexit isn’t necessarily a bad thing: Belmont Investments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22
Keywords: news, cnbc, companies, thing, uk, belmont, bad, point, parachute, isnt, investments, regard, ofriel, way, necessarily, brexit, nodeal


No-deal Brexit isn't necessarily a bad thing: Belmont Investments

No-deal Brexit isn’t necessarily a bad thing: Belmont Investments

3 Hours Ago

At this point, with regard to the Brexit deal, the U.K. and EU should just “jump” and “design the parachute on the way down,” says Jeremy O’Friel of Belmont Investments.


Company: cnbc, Activity: cnbc, Date: 2019-02-22
Keywords: news, cnbc, companies, thing, uk, belmont, bad, point, parachute, isnt, investments, regard, ofriel, way, necessarily, brexit, nodeal


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Tencent says it will not scale back on investments this year

China’s Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing. Lau said 2018 was the best year for the company in terms of investment, according to a transcript of his speech made last month and seen by Reuters on Wednesday. Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are now listed, while 122


China’s Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing. Lau said 2018 was the best year for the company in terms of investment, according to a transcript of his speech made last month and seen by Reuters on Wednesday. Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are now listed, while 122
Tencent says it will not scale back on investments this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: vcg, getty images
Keywords: news, cnbc, companies, according, valued, wednesdaytencent, tencent, 2018, scale, transcriptshares, transcript, companies, lau, investments, invested


Tencent says it will not scale back on investments this year

China’s Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing.

Lau said 2018 was the best year for the company in terms of investment, according to a transcript of his speech made last month and seen by Reuters on Wednesday.

Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are now listed, while 122 are valued at more than $1 billion, according to the transcript.

Shares of Tencent fell 23 percent in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: vcg, getty images
Keywords: news, cnbc, companies, according, valued, wednesdaytencent, tencent, 2018, scale, transcriptshares, transcript, companies, lau, investments, invested


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