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DP World Announces 'Historic' Investment At Port Saint John – country94.ca

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The Hapag-Lloyd vessel Glasgow Express sits at Port Saint John. (Image submitted)

It is being described as one of the largest investments ever made by a terminal operator in New Brunswick.

DP World has announced a “historic” technology and asset investment in its container terminal at Port Saint John.

The investment includes the purchase of two additional quay cranes which are scheduled to arrive on site later this year.

In a news release, DP World said the additional cranes will allow two container vessels to be handled simultaneously. The cranes, the release said, will allow the terminal to handle ships of up to about 10,000 twenty-foot-equivalent (TEUs).

Once commissioned, the terminal will have a total of four quay cranes.

Terrence White, general manager of DP World Saint John, declined to say how much they are investing in the enhancements.

“The equipment listed along with the technology that will be integrated into DP World Saint John is substantial – quay cranes are some of the most significant terminal assets that can be purchased,” White said in a statement.

Other upgrades include additional reach stackers, more internal transfer vehicles and container trailers, an upgraded terminal operating system, a new truck gate system, and enterprise-wide financial management systems.

Maksim Mihic, CEO & General Manager of DP World (Canada) Inc., said this investment is about building the right trade ecosystem to make Port Saint John the “logistics hub for the east coast.”

“By creating additional capacity, we provide more options for Canadian exporters to reach global markets leading to sustainable economic growth for the region,” Mihic said in a news release.

The investment comes as Port Saint John undergoes a $205-million modernization project to increase its capacity to 300,000 TEUs. An additional $38 million from the federal and provincial governments, announced last month, will allow the port to grow its capacity to 800,000 TEUs.

Nearly 87,000 TEUs (twenty-foot equivalent units) came through the port last year, and CEO Craig Estabrooks has said he expects that number to surpass 200,000 TEUs by the end of 2023.

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China proposes rules to regulate private pension investment via mutual funds – Reuters.com

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A Chinese national flag flutters near the building of China Securities Regulatory Commission (CSRC) at the Financial Street area in Beijing, China July 16, 2020. REUTERS/Tingshu Wang/Files

SHANGHAI, June 25 (Reuters) – China’s securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country’s capital markets.

The draft rules, published by the China Securities Regulatory Commission (CSRC) late on Friday, came after Beijing in April launched a milestone private pension scheme to tackle challenges of aging population. read more

Under the scheme, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting a pension market that has lured foreign asset managers including Fidelity International and BlackRock.

The proposed rules “have set a relatively high bar for products and institutions, and are designed to ensure safety of pension fund investment and protect investors’ interest,” the CSRC said in a statement on its website.

Initially, pension target funds with at least 50 million yuan ($7.48 million) of assets over the past four quarters are eligible under the pilot pension scheme, the CSRC said.

Other types of retail funds with clear investment strategies and good long-term track records will be gradually added to the eligibility list as the scheme expands, the CSRC said.

Currently, there are 91 pension target funds that meet the CSRC’s criteria, according to TF Securities.

In addition, fund managers and sales agents participating in private pension business must set up internal control systems, adopt long-term incentives, and ensure independent operation of the pension assets, according to the rules.

Independent consultancies estimate China’s private pension market will grow to at least $1.7 trillion by 2025, from $300 billion currently.

In 20 years, 28% of China’s population will be more than 60 years old, up from 10% today, making it one of the most rapidly-aging populations in the world, according to the World Health Organization.

($1 = 6.6878 Chinese yuan renminbi)

Reporting by Samuel Shen and Brenda Goh
Editing by Nick Zieminski

Our Standards: The Thomson Reuters Trust Principles.

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Not gold or bank FD, Jefferies finds this asset as top investment by Indians | Mint – Mint

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Amid soaring inflation and slowdown worries, investors are busy finding out save haven for their money. While some are batting in favour of gold, some investors are favouring debt instruments for short term like bank fixed deposits (FDs) and other deposits. But, if we go by the Jefferies findings, around half of the Indian household savings in March 2022 has been invested in real estate properties whereas bank deposits and gold are distant second and third most preferred asset investment options among Indian households.

As per the Jefferies findings, out of $ 10.7 trillion Indian households assets in March 2022, whopping 49.4 per cent have been invested in real estate properties whereas 15.10 per cent went to band deposits 15 per cent of the Indian households savings were invested in gold. Impact of Covid-19 pandemic was also visible in this Jefferies report as Indian households invested 6.20 per cent of their net savings in insurance funds and it was fourth most preferred investment option by Indians.

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Photo: Courtesy Jefferies

Provident funds and pension is at 5th spot after receiving 5.70 per cent of $10.70 trillion Indian households savings in March 2022. Despite heavy FIIs selling at Indian equity markets, DIIs have remained net buyers since October 2021. However, in Jefferies report, equities has received 4.80 per cent of the net Indian households savings in March 2022 and it is 6th most preferred investment option among Indians. As Indian households has a habit of keeping some part of its savings in liquid form. 

Jefferies report has a mention about it as well. As per the Jefferies findings, 3.50 per cent of the net Indian households savings in this period has gone to cash or liquid segment and it an obvious least preferred option among the Indian households.

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HomeFirst Home Healthcare secures investment from Fulcrum – PE Hub

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Harpeth Ventures also participated in the investment.




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