MOSCOW/AMMAN (Reuters) – President Bashar al Assad said on Monday he wanted to expand business ties with Russia to help Damascus cope with new U.S. sanctions on Syria’s already crippled economy that threaten to undermine military gains achieved with Moscow’s help.
Assad spoke during a meeting in Damascus with Russian Deputy Prime Minister Yuri Borisov and Foreign Minister Sergei Lavrov. The Russian foreign minister told a televised news conference that Syria needed international help to rebuild its economy.
Syria and Russia, whose military support since 2015 helped Damascus reverse gains by Islamists and other rebels in an almost decade-long war, have said the two sides plan to boost trade ties and will review energy, mining and power projects.
“The government was determined to continue to work with Russian allies to implement signed agreements and to ensure the success of Russian investments in Syria,” Assad said, state media reported.
Borisov told a Damascus news conference that Moscow had presented in July an agreement to expand economic ties that was being studied by Damascus. He said he expected it would be sealed in December, during his next visit to Syria’s capital.
He said Moscow wanted to help Damascus break the blockade of U.S. sanctions.
“Russia turned the tide for Assad and with the regime now facing its gravest challenges, Moscow is in a better position than any other time to further squeeze Assad,” said one Western diplomat who follows Syria.
Although Assad has now regained most of the territory he had lost in the war, the economy is in tatters, leaving many Syrians in poverty as the currency has lost 80% of its value.
Russia has criticized the new U.S. sanctions that took effect in June under the so-called Caesar Act.
Washington says the sanctions, which penalize foreign firms dealing with Syrian government entities, aim to cut revenue for Assad’s government and push him back into U.N.-led talks to end the conflict.
Syria is pinning hopes on Russia, its biggest foreign ally, to help it shore up its economy.
Hussam Taleb, a Syrian pro-government analyst, told Syrian state television the Russian visit would anger Washington which he said was “fighting us in our livelihood by passing the Caesar Act to deprive us of our wealth.”
Western diplomats say Russian President Vladimir Putin’s military involvement in Syria, its biggest Middle East intervention in decades, secured Moscow major regional influence and a bigger foothold in a naval base in Syria’s Tartus port.
Reporting by Anton Kolodyazhnyy in Moscow and Kinda Makieh in Damascus; Writing by Tom Balmforth and Suleiman Al-Khalidi; Editing by Toby Chopra and Edmund Blair
Want to invest like Warren Buffett? Now you can with the Buffettology Smaller Companies Investment Trust
Is Warren Buffett headed to the UK? Well, more in spirit than in body.
For the 90-year-old Sage of Omaha’s investment philosophy that turned him into one of the world’s most successful stock-pickers will be at the heart of a trust that also takes his name.
The Buffettology Smaller Companies Investment Trust is aiming to raise at least £100mln, which it will plough into some of the market’s hidden gems.
It is the brainchild of Sanford DeLand, the boutique asset manager behind the top-performing SDL UK Buffettology fund inspired by billionaire head of Berkshire Hathaway.
The listed vehicle will be run by Keith Ashworth-Lord, the driving force behind the highly-rated, £1.4bn SDL UK Buffettology fund. Over the last three years, it has delivered a 30% return and is ranked second out of more than 200 similar funds for its five-year performance.
Its top holding is Games Workshop, which accounts for just under 10% of the portfolio.
In a statement on the launch of the listing of the new trust, chief investment officer Ashworth-Lord said: “We believe that the UK small-cap market offers excellent investment opportunities to experienced managers who know what to look for and have the freedom to take a long-term view.
“Our business perspective investing approach is ripe for application to smaller companies and presents an opportunity to deliver superior returns for our shareholders, over the long-term.”
Buffettology will be quoted on the premium segment of the official list. The prospectus is expected to be published on or around September 29.
Source:- Proactive Investors USA & Canada
Rogers announces comprehensive $3 billion investment proposal to benefit Quebec – GlobeNewswire
Rogers unveils investments to honour Cogeco’s legacy, expand rural connectivity, accelerate 5G coverage to 95% of Quebecers and create hundreds of highly skilled jobs with new tech innovation hub
MONTREAL and TORONTO, Sept. 25, 2020 (GLOBE NEWSWIRE) — After 35 years of building in Quebec, Rogers today unveiled a $3 billion investment proposal to bring connectivity, jobs and economic growth to Quebec should it be successful in its bid to acquire Cogeco’s Canadian assets.
“Rogers is deeply committed to the future of innovation and the knowledge economy in Quebec. We would be honoured to help enhance the customer experience and bring new investments including 5G that will fundamentally reshape the economic landscape of Quebec,” said Joe Natale, President and CEO, Rogers Communications. “This is about the future, and helping ensure that Quebec’s ambitions around innovation, connectivity, health and education advancements are fully realized.”
Building off its base of 3,000 Quebec employees and nearly two million Quebec customers, Rogers new plans would include:
Growing jobs and powering economic growth:
- Investing a total of $3 billion in Quebec over the next five years, which includes $1.5 billion in network investments;
- Ensuring 5,000 jobs in Quebec for a combined Rogers/Cogeco entity;
- Maintaining Cogeco’s headquarters in Montreal with a Quebec President leading its business in Quebec;
- Maintaining the Cogeco brand in Quebec; and
- Continuing relationships with local suppliers and contractors.
Driving a made-in-Quebec innovation agenda:
- Expanding the rollout of 5G throughout Quebec, with a commitment to having 95% of the population covered over the next five years; and
- Establishing a tech innovation hub in Quebec, which would create up to 300 highly skilled new technology jobs as a Centre of Excellence in artificial intelligence, software engineering and digital technology.
Expanding rural connectivity and enhancing the customer experience:
- Building on Cogeco’s rural expansion commitments and establishing a rural connectivity partnership with the Quebec government to reach an additional 100,000 households.
- Upgrading services for existing Cogeco customers with the roll-out of Rogers next-generation connected home services, including Ignite Internet – the foundation of the home – that offers a personalized WiFi experience with the Ignite WiFi Hub; leading IPTV service with Ignite TV; Ignite SmartStream, a streaming platform that incorporates the most popular apps with voice search; and Smart Home Monitoring that allows customers to secure and control their home from anywhere.
Promoting culture and community partnerships:
- Continuing Cogeco’s existing community partnerships and launching a new student technology scholarship program;
- Continuing to sponsor major sporting and cultural events, including exploring ways to bring more major events to Quebec; and
- Establishing a French language training fund for Rogers employees outside of Quebec.
“We understand the importance of reaffirming our strong commitment to Quebec,” said Natale. “Rogers stands ready to be Quebec’s partner in building world-class networks to help make it a global leader in technology and innovation.”
Over the last 10 years, Rogers has invested more than $2 billion in its wireless network in Quebec and offers wireless services across the province. In January, Rogers started the rollout of Canada’s first and largest 5G network in Montreal, and expanded the Rogers 5G network to Quebec City, Gatineau and Trois Rivières earlier this month.
Last year, a PwC study commissioned by the company indicates that Rogers investments and operations resulted in a total economic footprint in Quebec of over $2.7 billion of output, including over 11,000 full-time jobs generated and supported.
Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com.
For further information: firstname.lastname@example.org, 1-844-226-1338
Buffett-following investment trust to list in London – TheChronicleHerald.ca
LONDON (Reuters) – An investment trust following the principles of veteran U.S. investor Warren Buffett is to list in London, the trust said on Friday.
Buffettology Smaller Companies Investment Trust intends to raise a minimum of 100 million pounds ($127.52 million) via an initial public offering on the London Stock Exchange, it said in a statement.
The trust will mainly invest in companies listed or traded in Britain, through a portfolio of 30-50 companies with market
capitalisations from 20-500 million pounds.
Sanford DeLand will be the trust’s investment manager, led by Keith Ashworth-Lord, CIO of Sanford DeLand Asset Management.
Sanford DeLand manages around 1.4 billion pounds across two open-ended funds.
“The UK small cap market offers excellent investment
opportunities to experienced managers who know what to look for and have the freedom to take a long-term view,” Ashworth-Lord said.
(Reporting by Carolyn Cohn; Editing by Rachel Armstrong)
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