Eyes of the India

  The Spanish company is in talks with Adnoc and Masdar as it pursues its low-carbon energy strategy in Europe Cepsa is leveraging its relationship with Mubadala Investment Company and is in talks with Abu Dhabi National Oil Company and Masdar on potential co-investments and partnerships as it pursues its low-carbon energy strategy in Europe, its chief executive has said. The Spanish oil and gas company, which is majority owned by Abu Dhabi’s strategic investment fund Mubadala, is in talks with state-owned energy producer Adnoc for a green hydrogen partnership, Maarten Wetselaar told The National in an interview. The potential tie-up can take the form of joint investments in developing the entire hydrogen value chain from the Middle East to Europe and North Africa. Another option is Cepsa focusing on building demand and infrastructure in Spain and other parts of Europe as Adnoc remains focused on hydrogen production, he said. “We are actually discussing exactly that question ...

  As the Russia-Ukraine war and inflation weigh on global markets, the S&P 500 index, Chinese tech stocks and agriculture funds could help investors to take advantage of a recovery Investing is a long-term game, but it pays to take advantage of short-term opportunities. Buying assets when they are out of favour and trading at low prices can really pay off, assuming they bounce back later. So can spotting an opportunity before other investors do and jumping in before it takes off. Inevitably, both are risky. It is never easy to get your timing right. We asked analysts to name three exciting ways to invest $10,000 over the next three months. The first was supposed to have crashed this year but is proving resilient, the second plummeted last year, costing investors trillions of dollars, but now looks a brighter prospect, while the final one could go either way. Just remember that your aim should be to generate profits over years, rather than making a quick gain over a few m...

  The Russia-Ukraine crisis, Covid-19 and volatile stock markets caused wealth erosion and led to 329 billionaires dropping out of the Forbes’ 2022 rich list The combined net worth of the world’s richest people slipped 3 per cent to $12.7 trillion over the past year, from a record $13.1tn in 2021, driven by the Russia-Ukraine crisis , Covid-19 pandemic and volatile stock markets , with Elon Musk , the founder and chief executive of Tesla topping the Forbes ’ 2022 World Billionaires List. There are 2,668 billionaires in the world, down from an all-time high of 2,755 last year, it said in the annual report, which used stock prices and exchange rates from March 11 to calculate the net worth of the world’s richest people. “In all, 329 people fell off the billionaires list this year — the most since the 2009 financial crisis,” Forbes said on Tuesday. Mr Musk , who was recently appointed to Twitter’s board after emerging as the biggest single shareholder in the microblogging platf...

  Foreign investors are concerned over geopolitical events and inflationary conditions, IIF says Emerging market (EM) stocks and bonds recorded an outflow of $9.8 billion in March, the first outflow month in a year, as concerns over geopolitical events , inflationary pressures and economic recovery from the pandemic dampened the outlook for investors. That compares with an inflow of about $17.6bn in February and roughly $1.1bn of flows in January , according to the Institute of International Finance (IIF). Foreign investment in EM securities “suffered” throughout the first quarter of the year, with the outflow in March driven by China, the IIF said in its monthly Capital Flows Tracker report. Outflows were recorded from both bonds ($11.2bn) and equities ($6.3bn) in China, while non-China EM debt attracted $8.2bn. One constant through all the ups and downs in capital flows dynamics of recent years has been China, which saw steady inflows as foreign investors built their expos...

  Shares of India’s largest digital payments service provider remain roughly 70% below its IPO price Paytm, India’s largest digital payments service provider, aims to break even on an operating basis by September 2023, as it struggles to appease investors following a disappointing initial public offering in November 2021. The company, which is backed by Japan’s SoftBank Group and China’s Ant Capital, said on Wednesday that its monthly transacting users exceeded 70 million in the fourth quarter of its fiscal year that ended on March 31, 2022, and projected strong growth prospects. Paytm’s shares were up 5 per cent to 642 rupees ($8.5) at 11.24am UAE time, following the announcement. “We are encouraged by our business momentum, scale of monetisation and operating leverage,” said Vijay Sharma, founder and chief executive of Paytm. “We expect this to continue, and I believe we should be operating Ebitda [earnings before interest, taxes, depreciation and amortisation] break even i...

 In November last year, I woke up to find two messages on my mobile phone that were sent by my bank. One of the messages was a one-time password number and the other informed me that Dh53,000 ($14,431) had been deducted from my account. The transaction was carried out from Baku, Azerbaijan. The money that had been taken was my life savings. I immediately contacted my bank, the police and the Central Bank of the UAE to inform them that my money had been stolen without my knowledge. The police investigated my case and gave me a letter detailing the incident, which I then gave to the bank for its investigation into the matter. However, the bank told me that it was a secured, authorised transaction and it was not responsible for my money disappearing. I don’t understand how this happened as I did not give the OTP to anybody and it happened while I was sleeping. I have since lodged a complaint with the bank as I am unhappy with their decision. I have also made a formal complaint with th...

 Top Volkswagen shareholder Porsche Automobil Holding supports plans to list luxury sports car maker Porsche but the conflict in Ukraine could affect the timing of the proposed initial public offering, the holding company said on Tuesday. Volkswagen aims to conduct the Porsche IPO in the fourth quarter of 2022, though that may change if the conflict in Ukraine drags on, Porsche Automobil Holding's finance chief said. "We cannot rule out, if the conflict lasts a longer time, that this could have potential implications on the listing," Johannes Lattwein told a news conference, without elaborating on how it would affect plans. No final decision has been made on the proposed IPO, the company said. A framework agreement for the listing proposed by Volkswagen in February includes selling 25 per cent plus 1 ordinary share in the car maker to Porsche Automobil Holding as well as listing up to 25 per cent of Porsche's preferred stock. Volkswagen aims to conduct the Porsche IPO...

 At least 80 per cent of Britain’s gas supplies and 70 per cent of oil must be sourced from abroad by 2030, a UK oil and gas trade body said on Tuesday, unless there is investment to boost North Sea output. Offshore Energies UK (OEUK) said major investment is needed to offset a reliance on imports after Norway became the leading supplier of gas to Britain last year – the first time a single country has become the primary source. Deirdre Michie, chief executive of Offshore Energies UK, said Britain’s overall oil and gas production will fall by up to 15 per cent a year unless there is rapid investment in new infrastructure. “This decline is much faster than the predicted reduction in UK energy demand so, if there is no such investment then, by 2030, we will be reliant on other countries for at least 80 per cent of our gas and 70 per cent of our oil,” Ms Michie said. “That gap will have to be filled by imports, meaning the UK will become ever more dependent on other countries.” This r...

 I have a Dh70,000 personal loan with a bank in the UAE. I have been unable to pay the instalments for a few months as I have been having financial problems and my salary is not enough to cover the payments. I have been applying for other jobs in the hope of increasing my salary and have been offered a position outside the UAE. The salary is higher than what my current position pays. Is it possible to pay my loan balance from another country? If so, what do I need to do to ensure that I will have no issues with the bank and move countries to start my new job without a problem? RL, Dubai You can pay your debt from another country. However, the crucial point to note here is to communicate with your bank. As soon as you change employers, your bank will be aware of your employment status. Also, if a bank knows that somebody is leaving the country and is expected to leave behind substantial debts, it can apply to the courts for a travel ban. Banks can enforce collection even if you are ...

 Challenges to come, analysts warn, with rising inflation set to trigger interest-rate rise next week Britain’s economy rebounded much more than expected in January, when the number of infections caused by the Omicron coronavirus variant eased, but the war in Ukraine darkens the outlook. Gross domestic product grew 0.8 per cent on the month in January after a 0.2 per cent decline in December — the strongest monthly expansion since June, according to the Office for National Statistics — with soaring inflation raising the spectre of an interest-rate increase next week. While January’s growth means the economy is now 0.8 per cent bigger than its pre-pandemic peak in February 2020, with growth set to continue in February, economists expect tougher times ahead. “Conflict in Ukraine is putting considerable pressure on energy and commodity prices, which, if sustained, will push inflation even higher than expected,” said Alpesh Paleja, lead economist at the Chamber of British Industry. “Th...

 Japanese electronics maker has been developing a bigger ‘4680’ cell that will improve vehicle range Panasonic is moving closer to bringing next generation lithium-ion batteries to the market, which is expected to substantially cut the cost of electric vehicles such as Tesla. The Japanese electronics maker has been developing a bigger “4680” battery that Tesla chief executive Elon Musk believes is key to placing EVs in the $25,000 price bracket. Tesla’s Model 3 starts at about $41,000 with tax incentives. The battery, about five times bigger than those currently supplied to Tesla, would allow the US car maker to lower production costs and improve vehicle range. The 4680 battery will have a “considerable impact” in lowering the cost of EVs, enabling them to spread more widely and, in turn, lower carbon emissions, said Kazuo Tadanobu, chief executive of Panasonic’s energy business. However, surging costs of raw materials, made worse by Russia’s military offensive in Ukraine, are expe...

  City of London office assets a key target despite Britain’s stuttering back-to-work drive Middle East appetite for UK commercial real estate is ramping up with wealthy investors expected to spend $1.5 billion this year, with office buildings — particularly in the City of London — the top target as easing Covid-19 restrictions unleash pent-up demand. The region’s accelerated investment in Britain’s commercial property landscape is set to be 33 per cent higher in 2022 than last year, according to Knight Frank, with office assets taking centre stage despite Britain’s employees making a slow return to city centres following the pandemic-induced work-from-home trend. The investment figure could be even higher, according to Alex James, head of private client commercial advisory at Knight Frank, with the consultancy tracking £4.17bn of active central London office requirements from Middle East investors this year — up 6 per cent on 2021 — with premium green office buildings that comply ...

  Do as much research as you can before taking the first steps to invest in digital tokens In the summer of 2018, I sat on my bed in south-west London and held a piece of paper with the date, my name and my signature next to my face so that I could take a picture with my webcam. This was just part of the process for signing up to buy cryptocurrency then, which also involved a woman calling me by video to verify I was the person in the picture and that the details all matched my passport. Only then was I allowed to create an account, deposit money and buy Bitcoin . From this platform I could then transfer it to another exchange where I could use that Bitcoin to purchase what are known as alt-coins . Alt-coins are as numerous as they are varied. Some you may have heard about have exceptional teams behind them, solving real world problems and aiming to make it into the big leagues. Others were started as jokes, such as Dogecoin and Shiba Inu, or get rich quick schemes and serve only ...