Norway’s clout in financial markets far outweighs its economy, which is about a 10th the size of Germany’s. The central bank’s $1 trillion investment fund plows the Nordic nation’s oil income into public securities and has become the biggest of its kind, owning about 1.4 percent of global stocks. Yngve Slyngstad, who grew up in Asker just outside Oslo and received multiple graduate degrees before devoting himself to finance, has been chief executive officer of Norges Bank Investment Management since 2008. The 56-year-old spoke to Bloomberg Markets about what makes a good money manager, how he learns about China’s economy, his concerns regarding information monopolies, and why all investing is active. He also explains his strategy for private equity and real estate and why his fund’s potential divestment from oil company stocks has nothing to do with climate change concerns. While the fund now aims to be 70 percent in equities, he foresees that … [Read more...] about Norway’s $1 Trillion Man Talks Brexit, China and Big Tech
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The risk of more devastating tsunamis than previously estimated has risen because of climate change, according to new findings published today. Tsunamis are destructive fast-moving waves that can be triggered by earthquakes, mountain slides, or meteor impacts. They have hit the Devon and Cornwall coast at least twice before according to historians - causing large numbers of deaths and destruction. In the 11th century a massive wave was thought to have been caused by an asteroid falling at sea and in the 18th century an earthquake off Lisbon was responsible. But now because of sea-levels rising the risks for coastal communities around the world are growing. In the new study researchers warned that what was previously assumed to be the 'absolute worst case' now appears to be 'modest' for what is predicted in some locations. Previous models published in 2006 show waves up to 4.5m could hit parts of Cornwall, with lower 2m waves in the Bristol Channel and North Devon. But now those models … [Read more...] about New tsunami warning for Devon and Cornwall coasts
By Rashid Shirinov The Armenian government has found itself in a difficult situation because of the huge state debt that the former authorities ‘gifted’ to them. In 2008, that is, before Serzh Sargsyan came to power in Armenia, the state debt of the country was $1.5 billion. However, it amounted to $6.7 billion at the end of June 2018. “Over the past 10 years, the former authorities have squandered loans. I say squandered because we did not see the effectiveness of their use. In 2008, Armenia’s GDP was $11.66 billion, and now it is $11,35 – that is, we have not even reached the then figure,” Armenian economist Vahagn Khachatryan has recently told Armenian media. He noted that the quality of life and the level of well-being remained the same. The high level of poverty (30 percent) and unemployment (20 percent) also remained. For 10 years, about 450,000 people emigrated from Armenia. “Corruption revelations have shown that the loans were used to … [Read more...] about Armenia may be left without new loans
Ruth Margalit meets a doctor who has devoted his professional life to the treatment of infants, developing simple techniques to encourage them to sleep, and now a bassinette that helps new-borns to nod off by themselves.Harvey Karp, the pediatrician, parenting expert and inventor-slash- entrepreneur, cuts an unimposing figure. Lean and agile, with wispy dark hair, blue-rimmed glasses and a bounce in his step, Karp hugs like the Angeleno he has become and deadpans like the New Yorker he once was.Gray has infiltrated his beard and his eyes are a little hooded, but he still makes for a young 66. He used to dress only in blue button-up shirts with matching sweater vests and bulbous ties in a seemingly self- conscious take on the Nutty Professor, but he has graduated to a darker navy, with slim-fitting jeans, an occasional blazer and a pair of Converse or laceless Vans: his transformation into a hip West Coast chief executive — Prius included — complete.Karp is the author of The … [Read more...] about How parenting expert Dr Karp is helping new-borns to nod off by themselves
Richard Martyn-Hemphill 7 July 2018 1:00 PM 7 July 2018 1:00 PM Share Twitter Facebook LinkedIn Email Whatsapp In January, a pair of pandas flew to Finland on a diplomatic mission. Hua Bao and Jin Bao Bao had been dispatched from their native Chengdu as a gesture of goodwill from China’s president Xi Jinping. Their arrival, part of China’s ‘panda diplomacy’, is one of several signs that the country is on a High North charm offensive. Days after the pandas had settled into their new home, China released its first ever White Paper on the Arctic. It is a document that defies geography, referring to China as a “Near-Arctic State,” despite its borders lying over a thousand miles south of the Arctic Circle. Much of the language is cautious, yet a few phrases underscore China’s long-term ambitions for this part of the world and its proposed construction of a “Polar Silk Road.” Why is China so … [Read more...] about What is China up to in the Arctic?