GCC BUSINESS: Saudi sovereign fund welcomes new special advisor

Riyadh – VIJAY SHAH via SAEED AZHAR and Reuters


A sovereign fund in Saudi Arabia has appointed a new special advisor formerly associated with the chemicals manufacturer Dow, and who was a chief executive officer there, the Business News desk at news agency Reuters reported this morning.

The state fund, run by the royal government of the Kingdom of Saudi Arabia, appointed Andrew Liveris, who was previously U.S. firm Dow’s chairman and CEO, today in an announcement. In English the fund trades under the name Public Investment Fund (PIF) and manages more than USD 250 billion (GBP 192.8 billion) in state assets. The fund plans to more than double its portfolio to USD 400 billion (GBP 309 billion) by the year 2020, Reuters reported. The PIF is run by the Saudi Council of Economic and Development Affairs on behalf of the kingdom, and in July 2018, bought a 5% minority stake in American electric car maker Tesla.

Liveris’s new role will see him work with the PIF on essential and significant matters, as well as help PIF strengthen its collection of assets and give input on the contribution of PIF companies to Saudi Arabia’s ambitious economic plan, Vision 2030.

Liveris is an Australian national, currently residing in Midland, in Michigan state of the U.S. He served at Dow for fourteen years before retiring in April this year.

SOURCES:

HEM Newsbreakers, HEM News Agency, Twitter, Twitter Inc. https://twitter.com/halfeatenmind/lists/hem-newsbreakers

Reuters Business, Twitter, Twitter Inc. https://twitter.com/ReutersBiz

“Saudi sovereign fund appoints ex-CEO of Dow Chemical as special adviser” – Saeed Azhar & Alison Williams, Reuters – Business News/Thomson Reuters (2 September 2018) https://www.reuters.com/article/us-saudi-pif/saudi-sovereign-fund-appoints-ex-ceo-of-dow-chemical-as-special-adviser-idUSKCN1LI0BF?feedType=RSS&feedName=businessNews&utm_source=Twitter&utm_medium=Social&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

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THE CASARES FORMULA: An Argentinian trick to become a bitcoin millionaire

Crypto-currencies have heralded the 21st century version of the Gold Rush as rising interest in the investment power of these new forms of payment is buoyed by the innate desire of many people to become rich beyond their wildest dreams. While some are very much wary of the newfangled money, particularly given the oft-reported lurches in the value of Bitcoin itself, a crypto-currency pioneer from Argentina claims to have worked out a simple formula to transform yourself into a bitcoin millionaire.

 

Entrepreneur Wenceslao Casares is the CEO of startup Xapo, a company that offers storage, purchase and purse services for bitcoins, and was previously founder of an Internet service provider, a video game company and a bank. Largely based in the tech heartland of Silicon Valley in the United States these days, Casares has long been a vocal defender of bitcoin and played a role in the development of the internet itself, according to online magazine Grandes Medios. His love of crypto and hobnobbing with the technorati even enabled him to convince Microsoft tech billionaire Bill Gates to adopt the currency. Casares also took on a position as an advisor for the compensation board of the PayPal council in 2016.

Being so familiar with the technology of the Net, you would have expected Casares to be quite knowledgeable about crypto-currencies, and indeed he claims to have cracked the binary code behind how to win big with cryptocoins. 

In an address to crypto advocates at the Westin Hotel in Times Square, New York, US, Casares publicly announced his formula to become a bitcoin millionaire, according to Quartz magazine. Casares advised the attendees to take just one per cent of what they owned in money, convert it into bitcoins and then stash the funds away for five years, simply forgetting about it. He said that even though you will lose one per cent of your fortune, within five years the value of bitcoin will have risen enough that you would be a millionaire in dollar terms, he told the audience.

Casares believes that while bitcoin will be on an upward value trajectory, it is still an investment with risks like any other. He warned that the success rate of his formula is fifty per cent and that there was a twenty per cent chance that bitcoin would fall and become worthless, meaning investors would lose all of their initial cash, but Casares also prophesied that within five years a single bitcoin would trade for more than a million U.S. dollars apiece. As of today’s date, one bitcoin is worth nearly USD 7,650 ($7,643.64), or GBP/£ 5,699.32.

Casares also predicted that bitcoin, as a ‘meta-currency’ would bypass central banks and become a new global monetary standard, “If bitcoin is successful, it will be the biggest leap forward in the democratisation of money we have seen, “ he said.

SOURCES:

Vijay Shah { विजय }, Twitter, Twitter Inc. https://twitter.com/VShah1984

Alexander Ochoa, Twitter, Twitter Inc. https://twitter.com/AlexanderOchoaQ

“La elemental fórmula con bitcoines que te hará millonario” – Grandes Medios/Grupo Editorial Grandes Medios (24 May 2017) https://www.grandesmedios.com/formula-ganar-millones-bitcoines/

IMAGE CREDIT:

“Cryptocurrency Concept Blockchain · Free photo on Pixabay” – WorldSpectrum, Pixabay (23 January 2018) https://pixabay.com/en/cryptocurrency-concept-blockchain-3409725/

URUGUAY AND ITS CAPITAL: A South American success story

The small South American nation of Uruguay, tucked away on the continent’s east coast between Brazil and Argentina, may be not as as well known as its bigger neighbours when it comes to the world stage and the everyday person, but the country is being lauded as a success story that has been financially and politically sound beyond many people’s expectations… and is on the rise.

In the past fifteen years, Uruguay has spearheaded economic growth on the continent with an interannual growth rate of 2 per cent under three successive governments of the country’s centre-left Frente Amplio coalition, bringing new wealth and the attentions of the moneyed and savvy to it and its cities.

 

The biggest beneficiary of Uruguay’s success has been its capital, Montevideo. A microcosm of old Spanish America with its vintage buildings, alongside the recognisable signs of modern city environments, Montevideo has been voted the Latin American city with the highest quality of life, as well as joining the club of the world’s thirty safest cities. On top of that, Uruguay’s capital is also at ninth place in terms of purchasing power per inhabitant in all of Latin America.

Montevideo not only offers great culture, but also great investment opportunities for those who want a part of the success story. Many of its neighbourhoods, including Punta Carretas, Pocitos Nuevo, Parque Rodo, Buceo and Villa Dolores, are highly sought after by both property investors and people searching for a better standard of life. They have attracted a lot of attention from investors owing to their decent selection of amenities, such as nightlife, transport links, and a high rate of urban development. The city is experiencing massive demand especially for new family sized homes as well as properties for singles and couples, as more people from outside Montevideo and Uruguay are drawn to the city’s prospects.

Montevideo, with its population of only 1.5 million inhabitants, is also a magnet for tourists, who flock to see old colonial architecture as well as the beaches of the Atlantic and the Rio de la Plata region. This massive river forms part of Montevideo’s allure, fringed with nature reserves and protected areas displaying the biological diversity of natural Uruguay. The city is experiencing a quiet boom in tourism, as more people discover its charms and magic.

Perhaps it will take a lot less than fifteen years for little Montevideo to become maybe the new Rio de Janeiro of Uruguay, or even the Barcelona of South America.

SOURCES:

Vijay Shah { विजय }, Twitter, Twitter Inc. https://twitter.com/VShah1984

Alexander Ochoa, Twitter, Twitter Inc. https://twitter.com/AlexanderOchoaQ

“De Hispano América Uruguay, de Uruguay Montevideo, de Montevideo Pocitos” – Grandes Medios (30 March 2017) https://www.grandesmedios.com/uruguay-montevideo-pocitos/

IMAGE CREDIT:

“Streets of Montevideo” – Héctor de Pereda, Flickr (26 January 2008) https://www.flickr.com/photos/hdepereda/3093337942

ICBI CONFERENCES: 19th Annual SuperReturn International in Berlin

The financial conference and events company ICBI, a division of multinational organisation Informa plc., will be launching its much awaited SuperReturn International event on the 22th to 25th February 2016, according to the official website hosted by ICBI.

The 19th Annual SuperReturn International, to be held at the InterContinental Hotel in Berlin, will bring together more than 1,500 senior-level delegates from the private equity world, representing over 350 powerful LP firms and 650+ private equity and venture capital managers. The event will also feature a line-up of more than 250 industry heavyweight speakers well versed in the fields of investment and capital growth, including many industry leaders and global investors.

(c) ICBI

The SuperReturn International event, part of the highly-respected SuperReturn and SuperInvestor series of financial events and summits managed by Informa, was first organised in 1998, and since then has gone from strength to strength, helping share valuable knowledge and investment strategies in the private equity field as it has grown from being a small ‘cottage industry‘ to a mainstream one in charge of billions of dollars of investments. Over the years, the SuperReturn International events, which are held yearly, have built up an enviable and formidable reputation as the world’s leading private equity and venture capital event, bringing top private equity performers, global leaders and industry trailblazers together every year to discuss the most pressing issues concerning their market. The event also offers valuable opportunities for networking and discussion among private equity leaders and executives. In 2014 alone, SuperReturn attracted over 1,500 delegates from all over the world. 

The event is also famed for its high levels of current and topical debates in global private equity, without any editing, giving an unaltered and no-holds-barred experience of issues and hot topics on a multi-million dollar industry. It will also host two smaller events during the conference, the German Private Equity Summit and the Private Debt & Mezzanine Finance Summit alongside the set speakers and presentations, aimed at delegates looking to specialise in those aspects of investment.

SuperReturn is particularly aimed at a worldwide audience, including European and North American pension plans and family offices, Middle Eastern sovereign wealth funds, global insurance companies, funds of funds investment houses, asset and wealth managers, DFIs and those involved with endowments and foundations. The event comes officially endorsed by private equity and venture capital associations from Poland, the Netherlands, Lithuania, India and Canada.

Among the top delegates and speakers expected to attend SuperReturn include heavyweights such as long-time event veteran David Rubenstein of The Carlyle Group; Joe Baratta (The Blackstone Group); Kathleen Bacon (Harbourvest Partners); Mike Powell (USS) and professors from the universities of Oxford and Lausanne. One previous delegate, Kevin Albert, a partner at Pantheon, a leading international private equity fund-of-funds manager, commented that SuperReturn International was “the New York of conferences. It’s the biggest, it’s the best and it’s the one you want to make it at”. The event is also one of the most up-to-date in the field technologically, with delegates able to download brochures and attendee lists via the ICBI event website for SuperReturn, as well as read the event’s official blog, follow the Twitter account, view special programming on SuperReturn TV and organise meetings with other delegates and senior executives via the revolutionary new SuperReturn App and online networking platform.

While the SuperReturn International event has a global focus, there are also specialist events covering private equity leaders and investors in Asia, the United States, Africa, China, the Middle East and for companies in emerging markets.

2016’s SuperReturn International will be held at the InterContinental Hotel conference suite at Budapester Straße 2, 10787 Berlin, Germany on the 22-25 February. For more information visit http://www.icbi-superreturn.com/

DISCLAIMER: The writer is employed with Informa, of which ICBI is a subsidiary.

HEM 3rd anniversary banner pizap.com14293560242241

SOURCES:
“Informa Accounts” – Half-Eaten Mind, Twitter, Twitter Inc. https://twitter.com/halfeatenmind/lists/informa-accounts
SuperReturn, Twitter, Twitter Inc. https://twitter.com/SuperReturn
“SuperReturn International – private equity conference – Event home” – 19th Annual SuperReturn International, ICBI/Informa plc. http://www.icbi-superreturn.com/?xtssot=0
“Event History – SuperReturn International” – 19th Annual SuperReturn International, ICBI/Informa plc. http://www.icbi-superreturn.com/page/about-us
“Why SuperReturn Is The Must-Attend Global Private Equity Conference” – 19th Annual SuperReturn International, ICBI/Informa plc. http://www.icbi-superreturn.com/page/highlights
“Accommodation” – 19th Annual SuperReturn International, ICBI/Informa plc. http://www.icbi-superreturn.com/page/accommodation
IMAGE CREDIT:
“SuperReturn International – private equity conference – Event home” – 19th Annual SuperReturn International, ICBI/Informa plc. http://www.icbi-superreturn.com/?xtssot=0