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.
In the latest round of oil and gas industry consolidation, Gazprom received Russian President Vladimir Putin’s official blessing to take over Sibneft, the country’s fifth-largest oil producer. Meanwhile, Sibneft announced it would pay out a record $2.3 billion dividend, indicating to some analysts that a deal is likely as the company’s majority shareholders seek to bolster their cash holdings before a sale.
Meanwhile, the parade of Russian IPOs continued, as Novatek, the country’s largest independent gas producer, raised $966 million on the London Stock Exchange in a sale that was more than 10 times oversubscribed. Despite being priced at the high end of the targeted range, shares still rose more than 13% during the first day of trading.
Foreign investment in the Russian beer sector continued, as InBev agreed to buy Tinkoff, a high-end producer, for $202 million. The purchase comes on the heels of the sixth acquisition by Heineken in Russia, of Baikal Beer.
One man who won’t be drinking a toast is former Prime Minister Mikhail Kasyanov, who earlier in the year indicated that he might be interested in running for President in 2008. Kasyanov was put under investigation for fraud relating to his below-market acquisition of a government holiday house. Kremlin-watchers suggested that the investigation was a warning to Kasyanov to stay out of politics, even though the chances of the tainted and unpopular Kasyanov achieving any sort of political momentum are widely regarded as slim at best.