Monthly Archives: August 2014

Aeroflot sees obstacles to low-cost Russian air travel lifted soon

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“Laws preventing airlines from charging for food and baggage – the last obstacles standing in the way of significantly cheaper airfares in Russia – will be lifted soon, the country’s largest carrier Aeroflot predicted on Sunday.  The Russian government has already revoked laws prohibiting the sale of non-refundable tickets and employment of foreign pilots since the state-carrier announced plans to launch low-cost airline Dobrolet last year, chief executive Vitaly Saveliev said.  But allowing Russia’s new budget airline to charge for food and baggage would result in ticket prices up to 40 percent cheaper than Aeroflot’s traditional economy class service.”

http://finance.yahoo.com/news/aeroflot-sees-obstacles-low-cost-russian-air-travel-173250962–finance.html

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Clearstream to Give Direct Access to Local Russian Stocks

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“Clearstream’s announcement is part of Moscow bourse officials’ efforts to lure more foreign investors to trade Russian stocks locally rather than in London and New York. The Moscow Exchange merged its two competing depositories in 2012 and in September extended the time allowed to settle transactions to two days.  The Moscow Exchange is optimistic that international depositories will open direct equities accounts. The exchange would like to reduce the volume of Russian equities trading abroad to between 20 percent and 25 percent of the total by 2015, from about 40 percent in 2013, Alexander Afanasiev, chief executive officer at the Moscow bourse, said in a June 2013 interview.”

http://www.bloomberg.com/news/2014-06-27/clearstream-to-give-direct-access-to-local-russian-stocks.html

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Russian Brokers Gain From Crisis, Trading From the Beach

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“The Ukrainian crisis is making 2014 a busy, and potentially profitable, year for Russian stockbrokers. While investment bankers have seen their fees plunge as deals dry up amid the conflict, trading in equities almost doubled on average at 50 Russian brokerages in March from February and has remained elevated this month, according to data from OAO Moscow Exchange. The RTS Volatility Index, which uses futures to measure expected swings in Russian equities, is more than double the level of December.  The recent price swings and the pickup in transactions are similar to the surge in volatility triggered when Russia sent troops into Georgia in 2008 during a five-day war.”

http://www.bloomberg.com/news/2014-04-23/beach-vacation-trading-shows-russia-crisis-aiding-brokers.html

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Pimco Using Ukraine Turmoil to Buy Cheap Russian Stocks

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“When some investors were fleeing Russian stocks as President Vladimir Putin moved to annex Crimea, Pacific Investment Management Co. (PEQWX) turned bullish.  The Newport Beach, California-based investment manager has been buying Russian equities amid a decline which, at the height of the conflict with Ukraine, pushed the average dividend yield for the benchmark Micex Index (INDEXCF) above its estimated 12-month price-to-earnings ratio for the first time since at least 2009.”

http://www.bloomberg.com/news/2014-06-05/pimco-using-ukraine-turmoil-to-buy-cheap-russian-stocks.html

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Don’t buy Russian stocks, White House says in Crimea dispute

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“In an unusual move, the White House recommended that investors avoid Russian stocks as the political rhetoric heated up in the dispute over Moscow declaring Ukraine’s Crimean peninsula part of Russia.  ‘I wouldn’t, if I were you, invest in Russian equities right now, unless you’re going short,’ White House spokesman Jay Carney said, half smiling, at a press briefing.  Stressing that the United States was preparing a new round of sanctions, Carney told reporters that the long-term impact of Russia’s bid to annex the Crimea region of Ukraine would have an impact on Russia’s economy. ‘They will also incur costs because of the sanctions that we and the EU have imposed,’ Carney said.”

http://www.reuters.com/article/2014/03/18/ukraine-crisis-obama-stocks-idUSL2N0MF1WO20140318

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Jim Rogers: Forget U.S. markets, I’m buying Chinese and Russian stocks

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“Rogers says he is buying shares in China for the first time since 2008 given authorities’ desire to open the economy more, ‘especially in finance.’  He says he’s not buying much in China though, because of the country’s ‘big debt problem’ — his concerns stem from China’s shadow banking system, specifically.  When it comes to the main stock index  in Russia falling 10% in March and the ruble losing 9% against the dollar in the first three months of the year, Rogers says he bought more Russian stocks during the turmoil in Crimea and is interested in buying more.  Why?  You’re ‘supposed to buy when there is blood in the streets,’ he tells us. ‘In Rusia, figuratively there is blood in the streets.'”

http://finance.yahoo.com/blogs/daily-ticker/jim-rogers–i-m-buying-chinese-and-russians-stocks-112227696.html

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Jim Rogers: China to be most important country in 21st century

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“Sanction threats against Russia sent shock waves of panic across the world of investment. There’s still those who still believe in the prospects of the Russian economy, despite the political turmoil. So, what are these prospects? How are sanctions affecting the financial balance of power? And, finally, what does Moscow’s turn to Beijing mean for the future of the global economy? We ask these questions to a renowned investor and businessman – Jim Rogers.”

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New Irish REITs Gain Interest From Investors Including Soros, Paulson

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“Private-equity firms dominated the buying of distressed commercial property in Ireland in the past year, but other investors can now participate in the market. The Irish government in April 2013 introduced legislation allowing the creation of REITs, a move designed to help pump liquidity into the Irish market. Green REIT launched in July and Hibernia in December.  Both REITs have attracted the interest of some large investors who are betting the Irish property sector is recovering from its slump. George Soros‘s Quantum Fund had an 8.2% stake in Hibernia, according to a disclosure last July. John Paulson’s Paulson & Co. had 12.9% of the voting rights of Green REIT.”

http://online.wsj.com/news/articles/SB10001424052702304851104579363042257515828

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Greek REIT Said to Seek $1.4 Billion as Investors Return

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“Foreign investors are returning to Greece after a crisis that nearly pushed the country out of the euro, and the European Commission predicts the economy will grow for the first time in seven years in 2014. Greece’s last IPO was done by MIG Real Estate REIC in 2009. Regulators set a deadline of October 2015 for Pangaea’s IPO. Invel, a London-based real estate investment firm led by Christophoros Papachristophorou, bought a 66 percent stake in Pangaea in a December deal that valued the company at about 1 billion euros. Pangaea has since acquired real estate in Greece and Italy and currently has assets totaling 1.2 billion euros, the people said.”

http://www.bloomberg.com/news/2014-04-02/greek-reit-said-to-seek-1-4-billion-as-foreign-investors-return.html

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Spanish real estate is where to invest, say Soros and Paulson

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“Two billionaire hedge-fund managers, and investment bank Morgan Stanley, have made hefty investments into the Spanish property market.   George Soros and John Paulson, both from the US, have each taken a €92 million stake in Hispania Activos Inmobiliarios, a Spanish property-investment vehicle. Meanwhile, US bank Morgan Stanley has announced it will purchase €20 million of assets within the company.  REITs are companies that own and operate portfolios of income-producing real estate, or related assets, instead of this being done directly by landlords.  Investment in Spanish real estate doubled in 2013, to €2.7 billion, reaching its highest level since the eurozone crisis.”

http://www.terrameridiana.com/blog/849-spanish-real-estate-invest-say-soros-paulson.html

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