Latest International Business News
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Business Epson targets Kenyan Market with new printers
The new printers, which will be retailing at Shs14000, are targeted at customers who are keen on reliable products that offer maximum productivity but at a lower cost. The LX-350 printers are ideal for commercial, industrial and logistic applications. According ...
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Reporting Incidental Findings In Gene Sequencing Ethicists Provide Framework Supporting New Recommendations
In a paper published in Science Express, a group of experts led by bioethicists in the Center for Medical Ethics and Health Policy at Baylor College of Medicine provide a framework for the new American College of Medical Genetics and Genomics (ACMG) recommendations on reporting incidental findings in clinical exome and genome sequencing. In March 2013, the ACMG recommended that all ...
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Sreesanth if found guilty to forgo World Cup medals career records
Sports News: CHANDIGARH: If India pacer S Sreesanth is found guilty in the IPL spot-fixing case, have to return the World Cup 2011 and World T20 2007 medals, along with his man-of-the-match awards. It is learnt that the BCCI will not just ban him for life, but also suggest that the International Cricket Council (ICC) erase all his records from international ...
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Rapid growth for food industry expected
cto r of the China Food Industry Association, said. Xiong attributed the growth to the country's deepening urbanization and the industry's opportunities of further tapping into the food-processing sector. According to data from ...
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Peng Shuai Hsieh Su-wei upset world No 1 for Rome title
Hsieh Su-wei (L) of Chinese Taipei and Peng Shuai of China celebrate winning the WTA Rome Masters women's doubles in Rome, on May 19, 2013. Hsieh and Peng upset the top-ranked Italian pair of Sara Errani and Roberta Vinci 4-6, 6-3, 10-8. ...
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Sweet Official new themes give Windows 8 a global makeover
Desktop themes are so often catered for by third party tools that it's easy to forget that Windows has built in support for theme packs. If you're short of inspiration, don't trust your own photography skill, or just can't be bothered to browse Flickr for a new ...
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Bird flu costs China industry $6.5 bln state media
BEIJING (AFP) - China's human H7N9 bird flu outbreak has cost the country's poultry industry more than 40 billion yuan ($6.5 billion) as consumers shun chicken, government officials said, according to state media.The sector has been losing an average of one billion yuan a day since the end of March, the Beijing Times said on Monday, citing Li Xirong, head of the National Animal ...
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International Retirement Scheme opens to UK Limited Companies
A new tax-efficient Pension Trust that allows UK Limited Companies to provide retirement packages for their employees who have responsibilities outside the UK has been launched by s615(6) Limited. The International Retirement Benefit Scheme had previously only been open to direct clients, but for the first time will be offered as a new international pensions solution, and can stand ...
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Landmark securities fraud settlement reached against Shell
The largest securities fraud settlement ever has been reached in Europe, with a Dutch appeals court ordering Royal Dutch Shell plc to begin the payment of $381million, plus interest, to a foundation representing a group of institutional investors from 17 European countries. Investors from Canada and Australia were also represented, and in total more than 150 institutional investors were ...
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Significant variations in European countries’ reactions to global downturn
European countries’ pension markets have experienced mixed reactions to the global crisis, although UK businesses are at a ‘severe competitive disadvantage’ in Europe due to weaknesses in private and state pension systems, says Aon Consulting. The employee risk and benefits management firm has produced a report detailing the state of the pensions markets in individual ...
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Swiss economy still suffering
The prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW). The Credit Suisse ZEW indicator of economic expectations crawled up by a mere 0.6 points to the -57.1 mark, and 65.3 per cent of financial market experts forecast further deterioration ...
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Growing number of multinationals considering global policies
The number of multinationals that plan to implement global funding policies across all aspects of retirement plan management by 2010 has increased to 87 per cent, according to Mercer. The financial consultant’s Multinational Survey also shows that 85 per cent of multinationals will use some form of ‘global’ approach to set their investment objectives by 2010, and 61 per ...
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Global pension systems ‘tested on every level’
show that assets fell from around US$25trn to US$20trn, with the global pensions balance sheet also shrinking by around 29 per cent in 2008. The financial consultant says this reflects the combined effects of poor performing assets and lower government bond yields. ';While the ramifications of this global economic crisis will be played out for many years to come, the striking ...
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Recession looms for Swiss economy
The Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse. Switzerland’s real economy finally felt the full force of the financial crisis in late 2008. Previous to this, the country had held up considerably better than that of other industrialised nations, but economists fear that Switzerland’s gross domestic product (GDP) could decline by 0.6 ...
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SGAM sells London business
Societe Generale Asset Management (SGAM) has sold its London subsidiary (SGAM UK) to GLG Partners, Inc. SGAM UK currently manages $8.2bn worth of assets, equating to around 2.5 per cent of overall assets managed by SGAM. The transaction will see SGAM UK shares sold to GLG, and is expected to be finalised in the first half of 2009, subject to regulatory approval. GLG intends to ...
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Norway Global fund suffers 7.7 drop
Norway’s Government Pension Fund – Global recorded all-time low returns of -7.7 per cent in quarter three of 2008 (Q3 2008), 1.8 per cent lower than that on the benchmark portfolio defined by the Ministry of Finance, according to the latest quarterly report by Norges Bank Investment Management (NBIM). NOK 128bn of transfers were made to the fund in the quarter, and at the end ...
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Liquidation shock provokes industry warning
The importance of pension fund trustees continuing to review the strength of their sponsoring employers is highlighted by a sharp rise in the number of insolvency events, according to Watson Wyatt. The financial consultant has looked at figures released by the Insolvency Service, which it said show there were 4,059 insolvent liquidations in quarter three of 2008 – a figure which is ...
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db x-trackers achieves massive global growth
The year 2008 represented a record growth in assets under management (AUM) for db x-trackers, Deutsche Bank’s exchange traded fund (ETF) platform, amongst all ETF providers globally. The past 21 months have brought db x-trackers up to the third largest ETF provider in Europe, and the sixth largest globally. Between the beginning of 2008 and 30 September 2008, db x-trackers’ ...
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Lowest asset growth among world top managers
The total assets under management among the world’s 500 largest fund managers grew by around nine per cent in 2007 to US$69.4trn, according to ...
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Launch of world’s fifth largest insurance company
Aviva Investors has officially launched, marking the creation of the world’s fifth largest insurance company. The company is investing to transform its asset management business over the coming years, which will significantly increase its contribution to the Aviva Group’s profit, and will become an ';investment powerhouse on a global scale';. The single business ...
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Swiss economy will neither boom nor bust
The Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current economic climate has had a negative impact on perception, it has had little reflection in the economic data. Economists say that the Swiss economy, despite seeing economic growth below its potential, will ...
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Sarkozy accusation leads to industry call for clarification
French President Nicolas Sarkozy has blamed the current financial turmoil on hedge funds. At the United Nations General Assembly on Tuesday 23 September 2008, Sarkozy stated that an overhaul and more regulation are necessary for the global financial system. He also said it should become less opaque. Sarkozy called for a punishment to those responsible for the current crisis and alleged ...
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World pension assets grow to US$12 trn
, also showed that most major countries recorded increases in assets, and that the size of these assets has more than doubled over five years. ';The world’s largest pension funds continue to benefit from a high profile as global demographic challenges remain front of mind,'; commented Carl Hess, global head of investment consulting at Watson Wyatt. ';As a result ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
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First global sound practices guide for FOHFs
The world’s first global guide to sound practices for fund of hedge funds (FOHFs) managers is to be published by the Alternative Investment Management Association (AIMA) in early 2009. The guide is being developed by fund of funds practitioners, and will focus on areas including risk management, disclosure to investors, valuation, management of conflicts of interest and other ...
Kazakhstan Focus
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Kazakhstan capital's next challenge
Astana, the capital of Kazakhstan, has experienced rapid growth in recent years and has seen the completion of some impressive architectural feats, now there are plans by the government to build a huge indoor city within the capital, providing the country with a modern feat of engineering and a tourist attraction of which to be proud.
Astana and Dubai, despite vast differences, have a few things in common as cities. Dubai is not the capital of the United Arab Emirates, while Astana is the capital of Kazakhstan, Astana is one of the coldest capitals in the world while Dubai is in one of the hottest regions on the planet. But Astana, like Dubai, has experienced rapid development in recent years, due in large part to the relocation of the capital to the city, and like Dubai, it has had to make sometimes impressive adaptations to architecture and development in order to compensate for the climate. Read more
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