Connect with us

Investment

Strategic investment projects approved – Kathimerini English Edition

Published

 on


The Interministerial Committee for Strategic Investments approved two new strategic investments on Thursday, one of which is characterized as an “Flagship Investment of Exceptional Importance,” a designation granted for the first time after the passing of the relevant law.

The first Flagship Investment of Exceptional Importance concerns the construction of a solar power plant and energy storage and green hydrogen conversion units of the Bluesky300 IKE investment body, with a budget of 226.4 million euros.

It concerns the construction, installation and operation of a 200-megawatt capacity solar power plant, a 100-MW capacity energy storage unit with lithium batteries, as well as the installation of a 50 MW capacity unit for conversion to green hydrogen through electrolysis.

A 200 MW photovoltaic park will be developed within the same area, consisting of a cluster of individual parks as well as energy storage facilities in a 100 MW lithium-ion battery array and green hydrogen production with a capacity of 16 tons per day.

This investment will create 442 jobs during construction and 24 during operation.

The second investment concerns the construction and development of a hotel unit on Mykonos by investment entity Kortia SA, with a budget of €61 million.

It is a tourism complex with five-star hotel accommodation, a capacity of 178 beds and four tourism residences, plus spa, restaurants, bars etc, as well as recreational and sports facilities in the Ilia area.

The investment will create 550 jobs.

Adblock test (Why?)



Source link

Continue Reading

Investment

How rising interest rates impact insurers' investment decisions – Canadian Underwriter

Published

 on


Recent interest rate hikes aimed at curbing inflation, and the potential for more rate hikes next year, has the insurance industry keeping an eye on its investment returns.

But while the transition from a low-interest-rate environment to a higher-rate environment will create short-term challenges, it also creates a long-term opportunity, noted Gord Dowhan, CFO at Wawanesa Insurance in a recent Canadian Underwriter interview.

“Over time…higher interest rates can create an opportunity for us to increase our yield moving forward,” Dowhan said. “As bonds mature, it gives us the opportunity to invest at a higher rate.

“You’ve seen this experience in Europe and elsewhere, where they were at zero percent and negative interest-rate environments in some cases. Having higher rates is healthier than being in that environment [of extremely low or negative interest rates], and there’s definitely an opportunity for us to pick up yield and investment returns within our investment portfolio as those instruments mature.”

For an insurer’s portfolio, Dowhan noted a rising interest rate environment makes certain investment instruments more attractive. And his firm has some of these in place, including preferred shares, limited recourse capital notes, and floating-rate or variable-rate debt.

“We’re also looking at real estate and infrastructure investments. From a rate-reset, preferred-share perspective, this gives us the opportunity to increase our yield; the dividend yield resets regularly based on five-year government bond yields,” he said.

“In a rising rate environment, this gives us an opportunity to increase our returns. Floating-rate, or variable-rate, debt has become increasingly attractive as rates rise. We’ve invested in and will continue to invest in floating-rate debt and look for opportunities to grow our portfolio there.”

What’s more, Dowhan said that during high inflationary periods, real estate and infrastructure tend to outperform other asset classes.

“The underlying instruments within these products, leases and other revenues that produce revenue streams linked to inflation, is one reason why they typically outperform other asset classes during periods of high inflation,” he told CU. “So, opportunities exist for us to enhance our yield in the long term and continue to deliver value for our policyholders.”

This article is excepted from one that appeared in the August-September issue of Canadian Underwriter. Feature image by iStock.com/porcorex

Adblock test (Why?)



Source link

Continue Reading

Investment

Landa Sees More Growth, EPac Gets New Investment And More | Label and Narrow Web – Label & Narrow Web Magazine

Published

 on


Demonstrating its commitment to supporting its growing customer base and interest from future customers, Landa Digital Printing is aggressively expanding its global team and business development infrastructure with the appointment of several new sales professionals.

New Landa appointments include:

  • Bill Lawver, Inside Sales Representative
  • Michael Weyermann, Regional Sales Manager – Northeast
  • Steve Smith, Regional Sales Manager – Southeast
  • Danny Green, Regional Sales Manager – Mideast
  • Michelle Weir, Regional Sales Manager, Southwest

Sharon Cohen, chief business officer, Landa Digital Printing, comments, “We are delighted to have secured the talent and experience of Bill, Michael, Steve, Danny and Michelle. Their highly relevant backgrounds will be instrumental in supporting our growth plans across North America, while also supporting the wider team to ensure continued high customer satisfaction, innovation and success.

Meanwhile, Amcor has announced a further strategic investment of up to $45 million in ePac Flexible Packaging. The investment will increase Amcor’s minority shareholding in ePac Holdings LLC.

Amcor’s executive vice president of strategy and development, Ian Wilson, comments, “This additional investment reflects our confidence in ePac’s entrepreneurial team and their proven ability to rapidly scale in the high growth, often higher value short run segment. Since our initial investment last year, we have been deeply impressed with ePac’s focused and innovative business model centered around deploying a very high level of digitalization and customization. ePac’s proven digital technologies enable the delivery of exceptional service levels and significantly reduced lead times. These specializations are designed to meet the unique speed to market and service needs of locally based small to medium customers, skill sets that are highly transferable to areas of Amcor’s core business.

Here are the highest-trafficked news items for the week ending on September 23:

1. Landa announces five senior additions to NA sales team
2. Amcor expands investment in ePac Flexible Packaging
3. FLAG enjoys productive Labelexpo Americas
4. Mondi invests in new research and development center in Germany
5. S-OneLP recognized as Global Label Award winner

Adblock test (Why?)



Source link

Continue Reading

Investment

Britain outlines tax incentives for new investment zones – Reuters UK

Published

 on


LONDON, Sept 23 (Reuters) – British finance minister Kwasi Kwarteng outlined what he called an “unprecedented set of tax incentives” for businesses in newly-announced investment zones, saying the government would also liberalise planning rules for specified agreed sites.

The government said there were potential investment zones in England so far but it would work with the devolved administrations in Scotland, Wales and Northern Ireland to deliver them around the United Kingdom.

“On purchases of land and buildings for commercial or new residential development, there will be no stamp duty to pay whatsoever,” Kwarteng told lawmakers in a fiscal statement on Friday.

“On newly-occupied business premises, there will be no business rates to pay whatsoever. And if a business hires a new employee in the tax site, then on the first 50,000 pounds ($55,800) they earn, the employer will pay no National Insurance whatsoever.”

The government said more detail on how a liberalised planning offer in the zones would work in due course.

Areas interested in becoming investment zones include Liverpool and Greater Manchester in northwest England, Somerset and Plymouth in the southwest, Sunderland and the Tees Valley in the northeast and Southampton and Essex in the south and east.

The government also said infrastructure projects would be accelerated, aiming to get as many as possible under construction by the start of 2023.

The list of projects to be accelerated included nuclear energy sites Hinkley Point C and Sizewell C, oil fields search as Cambo Phase 1, and several train lines, stations and roads.
($1 = 0.8961 pounds)

Reporting by David Milliken and Alistair Smout, editing by Elizabeth Piper

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)



Source link

Continue Reading

Trending