Connect with us

Investment

Nigeria’s Steel Sector Gets $100m Chinese Investment

Published

on

Steel Manufacture At Evraz Plc West-Siberian Metallurgical Plant
  • Nigeria’s Steel Sector Gets $100m Chinese Investment

Nigeria’s steel production has received a $100 million Chinese investment through HongXing Steel Company Limited. According to the Iron and Steel Senior Staff Association of Nigeria (ISSSAN), Nigeria’s present steel production stands at about 300,000 tonnes per annum, while consumption is above 20 million tonnes per annum.

Managing Director, HongXing Steel Company Limited, Mr. Feng Zheng Ke, said the company has invested $100 million to establish scrap and billet manufacturing plants in Nigeria to boost domestic consumption and export, adding that the steel plant, which is located in Aba, Abia State capital, will be completed by the end of the first quarter of 2017.

Biggest steel manufacturing plants

Zheng Ke who spoke during a briefing on the project said, “Once the plants start operation, the likes of Julius Berger and other construction firms in the country won’t need to import steel again. We are currently investing over a $100 million to build state-of-the- art and the biggest steel manufacturing plants not just in Nigeria, but in West Africa. When operational, not only will it feed the local consumption, we will also be able to export and earn foreign exchange for Nigeria”.

According to him, the company has achieved 70 percent completion of the first phase of the plants and it will become operational on or before the end of the first quarter of 2017. He said,

“The Aba projects have plant A, which will be using local raw materials from scraps, while the plant B will be using billets and will be producing to international standards. When operational, the plants have great prospects not only for the company but also for Nigerian economy. The project has reached 70 percent completion. Recently, we commissioned the power plants sub-station, which is a milestone to having the plants to start operation.”

Zheng Ke urged governments to help local manufacturers to thrive by granting them incentives like tax waivers, power and infrastructure incentives, among others.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Investment

REVEALED: Millionaire Investors’ Biggest Mistakes in a New Survey

Published

on

eko-business-dinner

Relying on guidance from historical returns is the number one investment mistake made by millionaires, reveals a new global survey.

The survey was carried out by deVere Group, one of the world’s largest independent financial advisory and fintech organisations, and queried 752 investors with investable assets of more than £1m (or the equivalent) in the UK, Europe, Asia, Africa, the Middle East, Australasia, Latin America and North America about their biggest errors whilst investing before they became clients.

The top cited mistake (38%) was reliance on historical returns, the second (35%) was not having sought advice, and the third (21%) was lack of diversification. A collection of other mistakes and ‘do not knows’ made-up the remaining 6%.

deVere CEO and founder, Nigel Green, says: “It’s interesting to see that for the first time in our surveys of this kind that the number one investment mistake high-net-worth individuals have made is, they say, reliance on guidance from historical returns.

“To me, this suggests that wealthy investors are paying attention to how the world has changed dramatically this year and, therefore, investment strategies need to adapt and evolve too in order to reflect the new era we’re living in.

“With fundamental shifts in economies and the markets, the often-quoted industry phrase ‘past performance is not a reliable indicator of future performance’ has perhaps never rung more true than it does today.”

He continues: “It’s encouraging that seeking advice is deemed fundamental to success by millionaires as it shows that DIY investing and not having a regularly reviewed plan is, typically, a path full of costly pitfalls.

Mr Green goes on to add: “The lack of diversification was in some ways bound to make the top three. Why? Because it is universally regarded as an investor’s best tool to mitigate risks and capitalise on opportunities that arise.”

The fact the top three mistakes are all fairly close in percentage terms says to the deVere boss, “that, in fact, they all link in pretty tight to number two – that’s to say, having a robust, considered and consistently reviewed strategy for your personal finances.”

Mr Green concludes: “To some, this could appear as if investing your hard-earned money is dangerous.

“Yet nothing could be further from the truth – not investing is likely to be more dangerous to your wealth over the longer-term.

“This is shown by the fact that most of the world’s wealthiest people are themselves committed investors.”

Continue Reading

Investment

Investors Turn to Digital Health Startups With $10 Billion Funding in 2020

Published

on

digital-start-ups

Global Investors Dump $10 Billion on Digital Health Startups in 2020

Data presented by Buy Shares shows that digital health startups funding has hit $9.9 billion in 2020. The highest funding was recorded in Q3 at $4.6 billion.

The surge in funding is expected to continue

Between Q1 and Q3, the funding grew by 58.62%. During Q1, the funding was $2.9 billion. The figure slightly dropped during Q2 to $2.4 billion.

The Buy Shares research also overviewed the five largest digital health funding deals as of Q3 2020. Bright Health was the biggest deal at $500 million with funding from Blackstone, Tiger Global Management among others. XtalPi recorded the second-highest funding at $319 million.

In the third spot, there is RecursionPharmaceuticals with cumulative funding of $239 million while Ro is fourth at $200 million. Out of the overviewed top funding, Ground Rounds is ranked fifth at $175 million.

The research highlights the value of digital health to investors. According to the research report:

“To investors, the digital health sector offers a promise of both good financial returns and key positioning by supporting companies that build solutions to address clinical and operational hurdles. The sector offers a unique value to companies as they hold integral direct access to both providers and patients.”

The surge in funding is expected to continue and shatter various records in 2020.

Continue Reading

Investment

World’s Five Largest Asset Management Companies Hold $22.5trn in Assets, More than US GDP

Published

on

Global Five Biggest Asset Management Companies Hold $22.5trn in Assets, More than US GDP

Institutions and individuals who invest money usually do so with the asset manager’s help, a company that manages their investments and makes a profit for both sides. These firms make well-timed investment decisions on behalf of their clients to grow their portfolio and finances.

According to data presented by Stock Apps, the world’s five largest asset management companies hold $22.5trn in assets, more than the GDP of the United States. With more than $7.3trn in assets under management or one-third of that value, BlackRock represents the leading asset manager globally.

Total Assets Under Management of BlackRock Surged 57% in Five Years

Asset management companies work with several investors, which enables them to reduce the risk, diversify their clients’ portfolios, and provide access to higher-value options with better capital appreciation prospects. In many cases, they make money by charging fees based on the number of assets they manage, although some companies charge flat fees. These firms usually also provide other services than asset management, which generates only a part of their revenue.

The world’s largest asset manager, BlackRock, has become one of the leading players on the financial market over the last 25 years. It serves individual investors, companies, governments, and foundations through 70 offices all around the world. BlackRock also tops the list of largest Exchange Traded Fund (ETF) providers in the United States and has played a huge role in advising the US government during the financial crisis.

In 2015, the total value of assets under BlackRock’s management amounted to $4.6trn, revealed the company’s annual report. During the last five years, this figure surged by 57% to $7.3trn in 2020. Besides leading in the value of managed assets, the New York-based financial giant also witnessed a steady market cap growth in 2020. In September, the total value of BlackRock stocks hit $83.6bn, a 22% jump year-over-year.

With $5.7trn in total assets under management, the Vanguard Group ranked as the second-largest asset manager globally. The US financial company, with 20 locations worldwide and 17,600 employees, is also the second-largest provider of exchange traded funds and the largest provider of mutual funds in the world.

Eight of the top 10 Asset Management Firms are US Companies

UBS Group represents the third-largest asset manager globally, with more than $3.5trn in assets under management. The Swiss financial corporation and the country’s largest bank announced a net profit of $1.23 billion for the second quarter of 2020, an 11% drop year-over-year mostly caused by the continued credit losses amid the coronavirus crisis.

However, higher trading activity continued to support the bank’s earnings between March and June. The Group’s quarterly earnings also revealed an operating income of $7.4bn, compared to $7.5bn a year ago. Statistics show the Swiss lender lost $1.6bn in market capitalization in 2020, with the total value of stocks falling from $45.6bn in December 2019 to over $44bn this month.

State Street Global Advisors and Fidelity Investments ranked as the fourth and fifth largest asset managers globally, with $3.05trn and $2.92trn in total assets under management.

Analyzed by geography, the US asset managers lead on the global list of the most successful companies, with eight of the top 10 asset management firms from the United States. Statistics also show the world’s largest banks like JP Morgan Chase, Goldman Sachs, and Bank of America were not among the top five asset managers in terms of managed assets.

Continue Reading

Trending