Ben T. Smith IV, a longtime Silicon Valley executive and currently head of the Communications, Media and Technology practice at Kearney, speaks to Global Finance about the post-SVB venture capital industry and the pace of innovation.
Many of the world's richest countries are also the world's smallest: the pandemic and the global economic slowdown barely made a dent in their huge wealth.
Global Finance editor Andrea Fiano interviews Ásgeir Jónsson, Central Bank Governor of Iceland during Global Finance's World's Best Bank Awards at the National Press Club in Washington, DC on October 15th.
GAZPROM DOUBLES PROFITS AS IT PREPARES FOR “EFFICIENCY” AUDIT
By Kim Iskyan
Gas giant Gazprom reported that net profit doubled in the third quarter of 2012, thanks to forex gains.
The results came just days after the government announced that it would launch an audit of the company to assess its efficiency.
Russia’s uranium monopoly, ARMZ, announced it is buying the remaining 49% of shares that it doesn’t already own in Uranium One, a Toronto-listed producer with significant operations in Kazakhstan. The acquisition marks a major step in the consolidation of the global uranium market.
Russia’s full-year GDP growth for 2012 was announced at 3.4%, lower than earlier forecasts as a result of unexpectedly weak growth of 2.2% during the fourth quarter. Overall, growth is decelerating; GDP rose 4.5% during the first half of the year, and consensus estimates suggest 2013 GDP growth of 3.2%. Prime minister Dmitry Medvedev announced a target of 5% per year, but most analysts say growth is unlikely to accelerate without significant economic reform.
Russia’s banking sector continued to be a key source of strength for the economy, as retail loans rose by 39% in 2012, and corporate loans posted growth at 13%. Meanwhile, retail deposits increased 20%, and corporate deposits rose 14%.