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Banking / Investment in Southern Europe

  • The immigrant success story that led Spanish police to a Chinese banking behemoth

    CHINA, 2017/08/02 In Spain's Chinese community, Gao Ping was the ultimate immigrant success story. He was a young man at the same time as he arrived additional than two decades ago and took a job as a cook in a Chinese restaurant. By 1997 Gao had opened an import business and begun building a commercial empire that would make him the highest-profile Chinese in Spain. He became a patron of the arts and cultivated political ties in Spain and in his native Zhejiang Province. In 2007, Chinese media carried a picture of him with Spain's King Juan Carlos I. And in interviews he was quoted saying he wanted to become a bridge between the two cultures.

  • Crimea: Circumventing Trade Sanctions Via Novorossiysk

    ARMENIA, 2017/07/08 Despite trade sanctions, Crimea is maintaining connections to international markets. Crimean traders are performing some logistical gymnastics to skirt sanctions, in particular transiting goods through the Russian port of Novorossiysk. On paper, of course, Crimea is experiencing a severe trade crisis. Official statistics indicate that Crimea’s import volume in 2016 shrank by a full third compared to the 2015 level, a drop of $33.6 million. Exports fell by $31.8 million, a 40-% decline from 2015. The city of Sevastopol, which is not formally part of the Republic of Crimea, reported a 12.6 % fall in its imports and 66.8 % fall in its exports in the same period, with volumes shrinking to $33.4 million and $5.9 million, respectively.

  • Finance Minister of the Year 2016

    NEPAL, 2016/01/10 Finance Minister of the Year 2016 awards celebrate the officials that have best managed to stimulate increase and stabilise their economy. Global and Asia-Pacific Ram Sharan Mahat, former finance minister, Nepal Ram Sharan Mahat receives The Banker’s World and Asia-Pacific Finance Minister of the Year awards for his exemplary work in the aftermath of the two disastrous earthquakes that hit Nepal in 2015 and in pushing for reforms to improve governance in the country’s ministry of finance.

  • President of Portugal says investment in Mozambique is a success story

    MAPUTO CITY, 2015/07/18 Portuguese companies have shown openness to new markets and new partnerships, and Mozambique has been a “appropriate” case, said Thursday in Lisbon the President of Portugal, Aníbal Cavaco Silva. “At a time at the same time as the Portuguese business sector has demonstrated capacity and competitiveness in opening up to new markets and establishing new partnerships, a country like Mozambique justifies, and has deserves appropriate attention,” said Cavaco Silva at a dinner held in honour of the Mozambican President, Filipe Nyusi in the Ajuda Palace in Lisbon.

  • Chinese groups Anbang and Fosun closer to acquiring Novo Banco

    CHINA, 2015/07/07 Chinese groups Anbang Insurance and Fosun International have made the highest bids to buy Portugal’s Novo Banco, in what could be the major foreign investment ever in Portugal, according to the Portuguese press. Next the presentation of the final proposals, to be followed before the end of July by a negotiation phase with the Bank of Portugal, the Anbang group is the favourite, with a proposition totalling 4.2 billion euros. Portuguese TV station SIC said that the proposition of an extra Chinese competitor, Fosun International, which by presently has an significant position in the Portuguese insurance sector (Fidelidade) and health (Luz Saúde), is 3.9 billion euros, higher than the proposition from US group Apollo World Management, which owns the Tranquilidade insurance company.

  • Bosnia Urges Investments in War-Torn Mostar

    BOSNIA AND HERZEGOVINA, 2015/05/04 One of Bosnia’s major international business forums has opened in the southern city of Mostar on Tuesday, but the event, which is being attended by additional local government officials again foreign businessmen, highlighted the problems that the town and the country in general is facing in attracting investments. The host of the 18th annual event, Mostar mayor Ljubo Beslic, urged Bosnia’s newly-formed governments to help local authorities. “At this moment we congratulate newly-elected officials on [their] appointments but as well hope that the authorities will change their attitude to local governments, particularly Mostar, the town which was the majority devastated in the country next the war,” Beslic said. “Nowadays… local communities don't have the money to solve the problems that have accumulated,” he added.

  • Qatar takes full ownership of Porta Nuova

    ITALY, 2015/03/30 Qatar's sovereign fund has acquired full ownership of Milan's most significant business district next buying out other shareholders, property group Hines Italia announced Friday. The Qatar Investment Authority has owned 40 % of the Porta Nuova business district since 2013. Hines insurer Unipol and several investment funds were part the selling shareholders in a 25-building development conservatively valued at additional than two billion euros ($2.2 billion).

  • Albania President Nominates Central Bank Governor

    ALBANIA, 2014/12/18 “In the candidature of Gent Sejko, who comes from the ranks of the banking system, I valued the managerial experience, his education and moral integrity,” President Bujar Nishani said in a statement accompanying the decree on Monday. An economist by training, Sejko has a nearly two-decade-long career in Albania’s banking sector, with various commercial banks. He currently heads Societe General in the country.

  • Montenegro Seeks Foreign Investments in Middle East

    JORDAN, 2014/09/10 The new government office, which aims to promote investment opportunities in Montenegro to Middle Eastern nations, will open on Sunday in Amman, the Montenegrin Investment Promotion Agency has announced. The opening is the result of Podgorica’s collaboration with the Jordanian oil fund Al Qamar, which is interested in building a large data technology centre in the Montenegrin town of Cetinje. The chief of the Montenegrin Investment Promotion Agency, Milos Jovanovic, said there would be "critical partnership" with large Middle Eastern companies in the fields of tourism, agriculture and renewable energy sources by the end of this year.

  • central banks of the Community of Portuguese-speaking Nations (CPLP) with European Union (EU) rules

    PORTUGAL, 2014/05/12 The Bank of Portugal will lead the process of regulatory and supervisory convergence of the central banks of the Community of Portuguese-speaking Nations (CPLP) with European Union (EU) rules, said the governor of the Bank of Cabo Verde (Cape Verde). Speaking at the end of the seventh conference of the governors of the CPLP central banks, held in Praia, Carlos Burgo noted that the process of convergence is of interest to the “eight” nations in the community and that it was significant to take chance of the window opened up by the EU, which is currently debating the issue.
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