Category Archives: Companies

Majid Jafar Supporting Others Through the GEI

Companies, Economy, , , ,

Crescent Petroleum with Majid Jafar is making a global impact, highlighted, amongst other things, by Majid’s election in 2013 as the deputy chairman of the Global Energy Initiative (GEI) which is a major international non-profit that helps to promote sustainable energy to fight energy poverty and to protect the environment.

Upon his appointment Majid Jafar commented:

“Like food, shelter, and medicine, access to affordable energy for all people must be viewed as an international objective that will require cooperation and coordination on a global scale to achieve in a sustainable manner that encourages development.”

Among their vast array of activities, the GEI is, this week, co-organizing 1 of the 3 strands of the  APO International Conference in Taiwan.

Called “How will green energy shape our future?” this segment of the conference is taking place on March 13th from 1:30-5:10. As GEI describes on its website: “Traditional energies had provided the backdrop for the last century’s industrial rapid growth. But, in view of the negative impact these energy sources have to our environment, we question: will they be able to sustain us for another century? How are we going to satisfy the increasing demand from our population and industrial growth? History has taught us that a diverse energy portfolio is better than a single energy source for a nation. However, are the other energy sources ready for the main stage? How can we nurture the growth of renewable energies? In this keynote, we hope to address this intractable topic through policy, technology and market place.”

Crescent Petroleum’s history ensures it is well placed to contribute to the GEI. It has been working in the sector since the 1970s, at a time when Saddam Hussein was both unofficially and then officially in power in the Iraqi government. Indeed, the company is the longest-established private gas and oil company in all of the Middle East, boasting experience as a global operator in countries like: Argentina, Canada, Egypt, Iraq, Montenegro, Pakistan, Tunisia, and the United Arab Emirates.

Upcoming Conference in Hong Kong

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For those in the financial sector and interested in Latin American fixed-income securities and other investment opportunities, this upcoming conference is worth a look. The Latin America Asia Fixed Income Workshop will take place on May 26, 2015 in Hong Kong at the Grand Hyatt. The conference has been launched in close connection with the Development Bank of Latin America and plans to connect Asian portfolio investors with Latin American corporate and other issuers.

 
Certainly, this could be an interesting opportunity for companies with interest in Latin America. Latam Securities for instance, with Jorge Pepa and Diego Marynberg, purchases and sells corporate and sovereign debt and equity securities. They also provide investment advisory services to institutional investors about investments in fixed-income securities in the US and in foreign markets.

 
Another company that could benefit from such a conference is the US power company ContourGlobal. They are planning to expand their wind operations in Brazil, Peru and Chile and are looking for new opportunities all the time. As the ContourGlobal executive vice-president and CEO for Latin America Alessandra Marinheiro said, “These markets are becoming very attractive and aligned with our strategy.”

 
Confirmed speakers for the conference include Gabriel Felpeto, Director of Financial Policy and International Issuances, CAF; Marco Aurélio Crocco Afonso, President, Minas Gerais Development Bank (MGDB);  Hugo Sarmiento, CFO, CAF; and Rogerio Sobreira, Director – Credit and Risk, Minas Gerais Development Bank (MGDB).

Layoffs on Horizon as GSK on Verge of Restructuring

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British-based pharmaceutical giant GlaxoSmithKline is planning on initiating cost-cutting measures that will ultimately cause hundreds of jobs to be lost.

On October 22 this year GSK, Britain’s leading drug company, announced their Q-3 results and also stated that they will save about 1 billion pounds ($1.56 billion) in yearly costs over three years. It has not yet been announced who will be laid off to save this money.

The company’s head of North American pharmaceuticals, Deirdre Connelly, will brief US employees on the upcoming changes. Sales of GSK respiratory drugs have been falling of late in the US.

“Each business unit is currently deciding how to respond to this challenge. When we do have proposals, we will first share those with our employees,” said a GSK spokesman.

Madoff: How You Could Have Known

Communications, Companies, , , ,

Before the Madoff story broke, a research and portfolio advisory firm called Aksia issued a statement warning clients to avoid doing business with his investment fund, citing several red flags which it uncovered during an investigation. A review of these indicators offers insight into due diligence as well as warning signs to look out for prior to doing business with a firm. Aksia picked up on the following patterns and inconsistencies, and the fund’s concerns were quickly validated:

  1. The firm utilized an especially volatile investment strategy, but was still able to garner stable returns of 8-10% over an entire decade.
  2. A financial advisor who claimed to have studied the firm’s operations issued a letter to the Securities and Exchange Commission in 2005 stating that Madoff was running a Ponzi scheme.
  3. The firm was run by family members, and the strategy was erratic and undocumented.
  4. The firm’s comptroller wasn’t based in the United States, but in Bermuda. The “feeder funds” were audited by reliable auditors, while the primary investments were not.
  5. Accounting statements were sent via mail, as opposed to email, as is commonly practiced in the industry.
  6. The firm had been looked into previously.

McDonald’s Planning to Shine Up their Tarnishing Golden Arches

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As business at McDonald’s plummets the globally ubiquitous fast food chain is looking for ways to halt the downward spiral and retrieve a bit of their former glory. Sales are in the doghouse, and increased competition from fast-casual restaurants is making it even harder for McDonald’s to get back on track. In addition, McDonald’s is dealing with worker unrest and trouble from the franchises. McDonald’s announced this week a 3.3 percent decline in sales last quarter.

CEO Don Thompson is ready with a plan of action to turn his brand around.

•    Create menus more in tune with the local consumer
•    Lose some menu items: this reduces waiting times and improves the worker environment
•    Allow customers to personalize their food
•    Get there reputation as unhealthy and bad for the environment rehabilitated

McDonald's will need to make some changes to preserve their market share
McDonald’s will need to make some changes to preserve their market share

“Conveying the facts and adjusting misperceptions about the freshness, quality and integrity of our ingredients appeals to our customers and supports the work we’re doing to offer greater menu choice,” Thompson said.