- A + A SINGAPORE (Oct 3): Malaysia's largest asset manager, Permodalan Nasional Bhd (PNB), plans to add infrastructure assets into its portfolio from next year to diversify its exposure and navigate the current high inflationary environment, its top executive said. PNB, which managed RM336.7 billion of assets in 2021, has the majority of its portfolio invested in public equities, both local and international, besides private investments and real estate, among others. "It's great as an asset class as it further diversifies our portfolio and improves the risk return characteristics of the portfolio," PNB's group chief executive officer Ahmad Zulqarnain Onn told Reuters in an interview during a visit to Singapore. "People are starting to look at how to protect their portfolios against the deterioration of value coming from inflation," Zulqarnain said, adding that globally, funds were under allocated to infrastructure as an asset class. The move by the state-owned … [Read more...] about PNB to add infrastructure assets in diversification drive
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Shares of gas companies declined on October 3 after the government hiked natural gas prices by a steep 40 percent to record levels, in sync with the strong energy rates globally. On Friday, the rate paid for gas produced from old fields, which accounts for about two-thirds of all gas produced in the country, was hiked to $8.57 per million British thermal units from $6.1, as per an order from the oil ministry’s Petroleum Planning and Analysis Cell. At 10:30 am, shares of Mahanagar Gas were down 3.2 percent to Rs 805.7 on the BSE, while those of Indraprastha Gas fell 3.3 percent to Rs 383.6 and Gujarat Gas declined 0.6 percent at Rs 499.85. Also Read | Oil stocks on a joyride after crude prices jump, tax cuts in India This price hike could put pressure on the margins of gas distribution companies. Close The companies believe that the price hike will impact sales volume and even the pace of expansion, The Economic Times reported quoting officials … [Read more...] about City gas distributors may face margin pressure; Indraprastha Gas, Mahanagar Gas, Gujarat Gas shares drop
Share to Twitter Share to Linkedin Amazon recently announced plans to more than double its maximum base pay for corporate and tech employees from $160,000 to $350,000. Those higher salaries, coupled with lucrative stock and bonus compensation, keep pace with fellow tech titans and ratchet up the pressure on other industries desperate for IT talent. Many c-suites reflexively blame staffing shortcomings on tech leaders’ prestige and the allure of innovation hubs such as Silicon Valley and Austin, Texas. In reality, there’s ample talent — it’s rudderless digital transformation HR strategy that’s the problem. Chasing pay premiums inevitably proves futile. Rather, to remain competitive, companies must devise and implement cohesive human capital plans that address board governance, executive leadership capabilities and frontline resource needs. Boardroom focus Serious tech talent strategies start with board composition and oversight. EY’s 2022 Board … [Read more...] about Amazon’s Pay Hike Calls Legacy Companies’ Bluffs — Here’s How Walmart And Ford Built Winning Tech Talent Hands
Share to Twitter Share to Linkedin J. Christopher Mizer, a 25-year alternative investment industry veteran, is President and CEO of Vivaris Capital, LLC and VICAN Fund. Investing in alternative assets such as hedge funds, private equity, real estate, infrastructure and natural resources can provide investors with a timely opportunity to tap into an array of benefits with various risk and reward characteristics. While alternative investing was primarily only an option for large, institutional investors during the past several decades, today’s new alternative funds and direct investment opportunities are increasingly available for individual investors and family offices. As a result, new capital inflows are fueling exponential growth in the alternatives industry. Preqin reports that total assets under management in the alternatives industry should reach $23.21 trillion by 2026, up from $13.32 trillion in 2021. Separately, Opalesque wrote … [Read more...] about Ten Reasons Some Investors Consider Investing In Alternative Assets
Share to Twitter Share to Linkedin Rich Kinder, 2012. (By Matt Hawthorne, for Forbes.) After 18 years at the helm of the pipeline giant that bears his name, Richard Kinder is stepping down this summer from his CEO position. To commemorate the occasion, Kinder agreed to sit down for a kind of exit interview. We discussed his legacy, the importance of learning from history, and his thoughts on where the energy industry stands today. This Q&A has been edited for length and clarity. Q: That bust of Winston Churchill is in a prominent position on your desk. What's he mean to you? I've always had that bust. In my view he's a real leader. Probably the greatest person of the 20th century in in terms of the direct contributions of one individual. If he had not been in the place he was in May 1940 I think other leadership might have struck a separate peace with Hitler and the whole world of history would be different. Without the U.K. we … [Read more...] about The Interview: Billionaire Rich Kinder On Leadership, Legacy And Energy Security
Joe Kiani surmounted overwhelming personal and professional odds to build a better blood oxygen monitoring device. So why should he be afraid to push his scrappy company into consumer electronics, challenging firms 100 times its size? J oe Kiani had achieved the dream. Masimo Corp., which he founded and runs as CEO and chairman, had carved out a lucrative niche as one of the top makers of pulse oximeters, those fingertip sensors that hospitals use to measure oxygen saturation in patients’ blood. Masimo had made Kiani, who immigrated in poverty to the U.S. from Iran as a child, rich—a billionaire , by Forbes’ reckoning. As an electrical engineer, he took pride in the fact that devices he had personally designed were excellent, commanding a slightly bigger share of the U.S. hospital pulse oximeter market than its chief competitor, Nellcor, which is a unit of Medtronic, a company roughly 15 times Masimo’s size. Together the two companies account for about 90% of sales. It’s … [Read more...] about Meet The Iranian Immigrant Who Became A Covid MedTech Billionaire
Share to Twitter Share to Linkedin Topline Shares of Credit Suisse plunged to an all-time low Monday as investors traded on concerns about the Swiss banking giant’s financial health and management’s ability to restructure the institution in a manner that would satisfy skeptics who believe the bank’s capital position is at great risk–which is sparking whispers of a so-called ‘Lehman Brothers moment.’ Key Facts Credit Suisse shares fell to an all-time low of $3.70 Monday in New York before recovering to $4.01 and fell as much as 5% in Zurich as investor confidence in the Swiss banking giant continues to fall as its capital position is being questioned after months of falling profits. The bank is working to restore confidence with CEO Ulrich Körner writing in a Friday note to employees (which was viewed by Forbes and shared earlier with other outlets) not confuse the company’s “day-to-day stock price performance with the strong capital base and … [Read more...] about Credit Suisse Shares Tank As Capital Concerns Spark Reminders Of Lehman Brothers Failure: Here’s What We Know
Share to Twitter Share to Linkedin Republican governors accuse ESG funds of not focusing exclusively on financial return. The anti-woke fund MAGA picks domestic firms that donate to the Republican party. MAGA’s firms simultaneously advertise their strong ESG credentials, benefit from large state subsidies and pay out large fines for violations related to workers, patients, investors and the environment. Despite lobbying and generous state subsidies received by its constituents, MAGA has lagged the S&P 500 since inception. Does MAGA simply support the belief of the ESG movement that treating stakeholders well is also shareholder value increasing? The political rancor around ESG continues. Most of this conversation is higher on heat than light. For instance, the defense usually offered for the regulatory actions enacted by the governors of Texas, West Virginia, and Florida on ESG funds is that such funds force investors to focus on considerations other … [Read more...] about Does The Anti-Woke MAGA ETF Inadvertently Make The Case For ESG?
People walk through the City of London financial district during rush hour in London, Britain, October 3, 2022. REUTERS/Henry Nicholls LONDON – Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crash ing the bond market over tax cuts will take the shine off her “ Big Bang ” plan for financial services. Market s took fright last month when UK finance minister Kwasi Kwarteng unveiled plans to increase borrowing to fund lower taxes, sending government bond yields rocketing and the pound plunging to a record low against the dollar. In a rare move, the Bank of England was forced to buy unlimited gilts to restore calm and avert what some have called a near “Lehman moment” in UK government bond s, casting a pall over the City of London financial district. “ Market s are all about confidence, and if you lose that confidence, which we are in serious danger of doing, then we have to show that fiscal … [Read more...] about UK bond market crash takes shine off Big Bang plans for London
Share to Twitter Share to Linkedin EY’s leadership recently green lighted a major restructuring, ending months of heated speculation. The plan has two key prongs: (1) EY’s audit and advisory businesses will split; and (2) the advisory business will replace its partnership model with a publicly traded corporate structure. The restructuring presents a unique opportunity for EY Law to expand the scope and meaning of “ legal services ,” reinvent how they are delivered , broaden the range of legal careers for licensed attorneys and allied legal professionals , and extract greater value from the legal function by aligning and integrating it with business. EY has the potential to change the legal delivery paradigm by providing multidisciplinary, vertically-integrated business, technology, and legal solutions. This will benefit its customers as well as the broader business community. It will also offer new career options for licensed attorneys, … [Read more...] about Will EY Law Change The Legal Delivery Paradigm?