Buttigieg raised 7 million

- A + A (Aug 15): Saudi billionaire Prince Alwaleed Bin Talal invested more than US$500 million in Russian firms in the days around Moscow’s invasion of Ukraine. Prince Alwaleed’s investment firm, Kingdom Holding Co., acquired depositary receipts issued by Gazprom PSJC, Lukoil PJSC and Rosneft PJSC in February, according to a stock exchange filing. Russia invaded Ukraine on Feb. 24. No specific dates for the investments were given, and the Saudi firm didn’t respond to questions about whether it still owned them. The value of all those depositary receipts dropped rapidly after the war began, when trading in Moscow was halted and western sanctions were imposed on Russia. Alwaleed, whose grandfather was the founder of modern Saudi Arabia, is one of the country’s richest men and most high profile international investors. More recently he has been eclipsed by the kingdom’s sovereign wealth fund, chaired by his cousin, Crown Prince Mohammed bin Salman, which acquired a … [Read more...] about Saudi billionaire made US$500 million Russia bet near war’s onset

- A + A KUALA LUMPUR (August 15): Hong Leong IB Research (HLIB) has maintained its “Buy” rating on Heineken Malaysia Bhd at RM24.40 with a higher target price (TP) of RM30.85 (from RM28.87) and said Heineken reported a 1H22 core net profit of RM199.5 million (+101.9% y-o-y) which came in above both house and consensus projections at 5 8% and 63%, respectively. In a note on Monday (Aug 15), the research house said the positive result surprise was due to a higher-than-expected beer demand following the transition to endemicity. “We raise our earnings forecasts for FY22-24f by 2-7% as we pencil in higher sales volume assumption to reflect the stronger-than-expected beers demand recovery. “Subsequently, our TP is raised to RM30.85 (from RM28. 87), implying a PE multiple of 25x on its FY23f EPS of 123.4 sen. “Reiterate Buy rating on Heineken,” it said. … [Read more...] about HLIB raises target price for Heineken to RM30.85

After a weekend marathon “vote-a-rama,” the U.S. Senate gaveled through a 50 to 51 party-line vote to approve a monumental piece of legislation: the Inflation Reduction Act—the IRA. While the bill is not yet law, it’s likely that it will be approved by the House and signed by the President within the next few weeks. When it becomes law, the IRA will be the biggest climate legislation in U.S. history. advertisement advertisement The IRA invests $369 billion in climate action, from an expansive system of renewable energy tax credits to targeted investments in climate adaptation, carbon sequestration, and environmental justice efforts. These investments are paid for by $739 billion raised through taxes on large corporations, increased IRS auditing, and new authority for Medicare to negotiate lower drug prices. All in all, the IRA is projected to reduce total U.S. greenhouse gas emissions 40% by 2030, putting the United States back in shooting distance of … [Read more...] about The top 10 takeaways for businesses and financial Institutions about the IRA

Share to Twitter Share to Linkedin Tom Wilde is the CEO of Indico Data , an unstructured data platform. Having now lived and managed through three key market resets, including the dot-com crash, the recession of 2008 and the stock market reset of early this year, I’ve found several takeaways as a CEO of early-stage companies that can be consistently applied. As a CEO, competition is always a major factor, especially in developing market segments or categories. The noise is always extremely high as funding flows in to try and capture the prize when customers start to spend, and the market comes into focus. 1. Money almost never closes a technology or product gap. I’ve seen this pattern over and over again. Technology advantages are hard to come by, but when you have them, they can be magical. But at the same time, you’re always looking over your shoulder, wondering if someone is about to catch up and steal one of your core advantages. Then, it … [Read more...] about Five Lessons From The Great Reset

- A + A BENGALURU: Scandinavian airline SAS said on Saturday (Aug 13) that it entered into an agreement with Apollo Global Management to raise US$700 million of fresh financing it needs to see it through bankruptcy. The airline filed for bankruptcy protection in the United States in early July to help cut debt after the collapse of wage talks between the airline and its pilots, triggering a 15-day strike that added to travel chaos across Europe. SAS said in a statement it expects to complete the Chapter 11 restructuring process in nine to 12 months. The airline anticipates receiving court approval for its US$700 million financing by the end of September. SAS chief executive Anko van der Werff has said the strike accelerated its decision to file for Chapter 11 status. The airline has said the industrial action had cost it more than US$145 million, affecting 380,000 passengers in the peak summer travel season, and might jeopardize the firm's ability to secure … [Read more...] about SAS secures US$700 mil financing to aid restructuring

With inflation at record levels, the survival of your business depends on whether you set the right price for your products. Why is pricing so important now? In a nutshell, it affects all a company's stakeholders -- including consumers, employees, suppliers, competitors, and shareholders. Sadly, there is no simple formula for how to balance the interests of your company's stakeholders, and the right answer varies by industry and company. Here is how to think about pricing through the lens of each stakeholder based on a Charlotte, North Carolina, restaurant -- Good Food on Montford (GFOM). 1. Customers If you are the dominant provider in an industry with few competitors, you may be able to raise prices to maintain high profit margins. Most businesses face rivals who compete by giving customers more of what they want at a low price. If business leaders decide to be a low-cost producer , they should offer a good product at the lowest price. If they want to be … [Read more...] about Set Prices With 5 Stakeholders in Mind

Share to Twitter Share to Linkedin Center Jalen Smith played the best basketball of his career for the Indiana Pacers this past season, and that might actually end up being a problem for the Pacers franchise. Smith was acquired by Indiana in a deal at the trade deadline back in February — the Pacers sent away Torrey Craig when they received Smith and draft compensation from the Phoenix Suns in a financially-motivated move. The trade was a win for everyone — the Pacers, the Suns, Craig, and Smith. Smith was a winner because he went to an Indiana team that was far more focused on developing young players than his previous squad in Phoenix. During his first season-and-a-half with the Suns, there were just 18 times in which Smith played more than ten minutes in a game. With the Pacers in under two months, that occurred 22 times. The Pacers had more opportunities for the young big, which was beneficial for his growth. “I view this as a new beginning,” … [Read more...] about The Challenges The Indiana Pacers Face In Keeping Jalen Smith

- A + A KUALA LUMPUR (May 20): RM300 million was paid for helicopters that were never delivered to the Royal Malaysian Army, a source close to investigations into allegations of corruption and mismanagement in the purchase of defence assets was reported as saying. Free Malaysia Today reported six MD530G light scout attack helicopters, manufactured by MD Helicopters of US aerospace giant McDonnell Douglas, had been ordered in 2016 by the defence ministry (Mindef). Then headed by Hishammuddin Hussein, the defence ministry had ordered the helicopters following a demonstration at the 2015 Langkawi International Maritime and Aerospace (Lima) exhibition. The helicopters are also known as “Little Birds”. The publication reports that a local company -the appointed agent in Malaysia for MD Helicopters- has strong ties to “a very senior” Mindef official and made a proposal to Mindef to acquire the six MD530G. This proposal was submitted to former prime minister and … [Read more...] about Report: RM300m paid for US-made helicopters that were never delivered

- A + A (Aug 15): Salman Rushdie, the acclaimed author who was stabbed repeatedly at a public appearance in New York state on Friday, 33 years after Iran's then-supreme leader called for him to be killed, is off a ventilator and his health is improving, his agent and a son said on Sunday. "He's off the ventilator, so the road to recovery has begun," his agent, Andrew Wylie, wrote in an email to Reuters. "It will be long; the injuries are severe, but his condition is headed in the right direction." Rushdie, 75, was set to deliver a lecture at the Chautauqua Institution in western New York on the importance of the United States as a haven for targeted artists when police say a 24-year-old man rushed the stage and stabbed him. The Indian-born writer has lived with a bounty on his head following the publication of his 1988 novel "The Satanic Verses," which is viewed by some Muslims as containing blasphemous passages. In 1989 Iran's supreme leader Ayatollah Ruhollah … [Read more...] about Salman Rushdie off ventilator and ‘road to recovery has begun,’ agent says

British author Salman Rushdie listens during an interview with Reuters in London April 15, 2008. (REUTERS / File Photo) Salman Rushdie, the acclaimed author who was stabbed repeatedly at a public appearance in New York state on Friday, 33 years after Iran’s then-supreme leader called for him to be killed, is off a ventilator and his health is improving , his agent and a son said on Sunday. “He’s off the ventilator, so the road to recovery has begun,” his agent, Andrew Wylie, wrote in an email to Reuters. “It will be long; the injuries are severe, but his condition is headed in the right direction.” Rushdie, 75, was set to deliver a lecture at the Chautauqua Institution in western New York on the importance of the United States as a haven for targeted artists when police say a 24-year-old man rushed the stage and stabbed the novelist. The Indian-born writer has lived with a bounty on his head following the publication of his 1988 novel “The Satanic Verses,” which is viewed … [Read more...] about Salman Rushdie off ventilator and ‘road to recovery has begun,’ agent says