After Japanese companies, UK based companies may also take up Rajasthan as an investment destination. UK Capital Trade & Investment,
India,(UKTI) Northern Region deputy head Ms Jane Sanders has evinced interest in parking investment in the state.
“We have discussed the prospective investment areas with Rajasthan State Industrial Development and Investment Corporation (RIICO). We will further explore the possibilities after discussing with interested UK based
companies,” she said.
UKTI is a government organization that help UK based companies succeed in the global economy and also assists overseas companies to bring their high quality investment to the United Kingdom.
RIICO chairman Sunil Arora said that the corporation would facilitate a cluster or sectoral approach for setting up a group of industries. “SEZs in Rajasthan can be a viable opportunity for investment by the UK companies.
Besides, there is a huge potential for UK Capital Investment companies in auto sector, higher education, health care and engineering. The proposed 1483-Km long Delhi-Mumbai Industrial Corridor (DMIC) can well be a driving factor for foreign investment as 40% of the corridor passes through the state,” he said.
This is not for the first time that an international trade body has shown interest in Rajasthan. Japanese External Trade Organization (Jetro) has already tied up with RIICO for roping in Japanese investment in the state.
RIICO has reserved around 588 acres saleable land in Neemrana for Japanese companies out of which 264 acres have already been sold. Around 20 leading Japanese companies including Ahresty Corporation, Mitsui Chemicals and Nissin Corporation have set up their shops while five more companies are likely to invest in next couple of years.
Friday, October 30, 2009
£18m capital investment for UK renewable energy
The Carbon Trust is to inject up to £18 million as uk capital investment in the UK in additional funding into the UK clean and renewable energy sector, providing a booster for clean tech start-ups and Britain's move to a low carbon economy. The additional money has been provided by the Department of Energy and Climate Change.
Investment will focus on companies that offer prospects of a strong commercial return and, in particular, on those renewable energy technologies where the UK has natural strength and potential to become a global leader.
Ed Miliband, Secretary of State for Energy and Climate Change, says: "This cash injection will help safeguard the new generation of promising renewable technologies. Supporting green start-up companies with this capital means innovative ideas for low carbon energy will be able to make it out of the lab and into the future energy mix."
Tom Delay, Chief Executive at the Carbon Trust, adds: "The UK is a real hot-bed of clean tech innovation and the sector has the potential to create significant economic value for Britain but it needs urgent support. In the current environment, even the most promising companies are finding it hard to attract the funding needed to turn bright ideas into commercial success stories. With this new funding boost, we are confident that the tide will now begin to turn."
Investment will focus on companies that offer prospects of a strong commercial return and, in particular, on those renewable energy technologies where the UK has natural strength and potential to become a global leader.
Ed Miliband, Secretary of State for Energy and Climate Change, says: "This cash injection will help safeguard the new generation of promising renewable technologies. Supporting green start-up companies with this capital means innovative ideas for low carbon energy will be able to make it out of the lab and into the future energy mix."
Tom Delay, Chief Executive at the Carbon Trust, adds: "The UK is a real hot-bed of clean tech innovation and the sector has the potential to create significant economic value for Britain but it needs urgent support. In the current environment, even the most promising companies are finding it hard to attract the funding needed to turn bright ideas into commercial success stories. With this new funding boost, we are confident that the tide will now begin to turn."
Overseas Buyers Poised To Ignite UK Capital Investments Mkt
The UK capital investments real estate sector could be gearing up for fierce competition from buyers as funds, expecting more distressed property to come to market in the next two years, plan to snap up prime properties in hope of a recovery
"The UK Capital Investments Market is attractive to overseas equity as values have fallen 45% peak-to-trough" and sterling has lost ground this year against major currencies such as the U.S., the euro and the yen, said James Thornton, founder of Mayfair Capital Investment Management, adding that "it makes for a very liquid market."
Thornton said he saw U.S. and Japanese investors returning to the U.K. market, as well as German open-ended funds, which traditionally have been prominent U.K. real-estate buyers.
According to CB Richard Ellis, 82% of the investors in the Central London office market in the third quarter were international, with U.S. buyers the most active, dominated by Blackstone Group LP???s (BX) acquisition in September of a 50% stake in British Land PLC's (BLND.LN) Broadgate Estates for GBP77 million plus the assumption of GBP987 million of debt.
Mayfair Capital recently has teamed up with Dallas-based property fund manager L&B Realty Advisors, which manages $4 billion of U.S. pension funds, to invest $250 million of equity from U.S. institutions into U.K. property over the next two years.
BNP Paribas Real Estate, the property adviser, said that planned new opportunity funds formed this year could have almost GBP18 billion to spend globally on commercial property, and GBP5 billion of that may be targeting property in the U.K.
Most of the opportunity funds were launched in the third quarter of this year, signaling hopes that the U.K. market has reached a bottom, but so far they have been chasing prime property only.
The U.K. commercial property market has been hit the hardest and fallen the fastest in Europe as a lack of debt financing caused declines in values and damped sales. While prices are beginning to rise again, vacancies still are high, subduing rental values.
Aviva is planning to buy prime property, with secure leases and with strong covenants, across the U.K. and will focus on retail warehousing, high-street retail and supermarkets, with lot sizes in the range of GBP10 million to GBP30 million.
Thornton said, "The risk appetite returned for all classes, but demand is only there for prime assets." He added that he saw good opportunities in property in prime locations but with shorter leases and, therefore, considered secondary, or less attractive.
"The UK Capital Investments Market is attractive to overseas equity as values have fallen 45% peak-to-trough" and sterling has lost ground this year against major currencies such as the U.S., the euro and the yen, said James Thornton, founder of Mayfair Capital Investment Management, adding that "it makes for a very liquid market."
Thornton said he saw U.S. and Japanese investors returning to the U.K. market, as well as German open-ended funds, which traditionally have been prominent U.K. real-estate buyers.
According to CB Richard Ellis, 82% of the investors in the Central London office market in the third quarter were international, with U.S. buyers the most active, dominated by Blackstone Group LP???s (BX) acquisition in September of a 50% stake in British Land PLC's (BLND.LN) Broadgate Estates for GBP77 million plus the assumption of GBP987 million of debt.
Mayfair Capital recently has teamed up with Dallas-based property fund manager L&B Realty Advisors, which manages $4 billion of U.S. pension funds, to invest $250 million of equity from U.S. institutions into U.K. property over the next two years.
BNP Paribas Real Estate, the property adviser, said that planned new opportunity funds formed this year could have almost GBP18 billion to spend globally on commercial property, and GBP5 billion of that may be targeting property in the U.K.
Most of the opportunity funds were launched in the third quarter of this year, signaling hopes that the U.K. market has reached a bottom, but so far they have been chasing prime property only.
The U.K. commercial property market has been hit the hardest and fallen the fastest in Europe as a lack of debt financing caused declines in values and damped sales. While prices are beginning to rise again, vacancies still are high, subduing rental values.
Aviva is planning to buy prime property, with secure leases and with strong covenants, across the U.K. and will focus on retail warehousing, high-street retail and supermarkets, with lot sizes in the range of GBP10 million to GBP30 million.
Thornton said, "The risk appetite returned for all classes, but demand is only there for prime assets." He added that he saw good opportunities in property in prime locations but with shorter leases and, therefore, considered secondary, or less attractive.
German funds identify UK property as key investment
Property bargains in the UK are luring German capital investment funds to shop for real estate on British shores, it was revealed today.
Money managers in Germany said they have earmarked UK capital investments commercial property as a key sector for investment, claiming values have plummeted up to 45% from their highs two years ago.
Before the credit crunch, German property funds accounted for heavy investment in the UK, including landmarks like the Lloyd's building and One Exchange Square in Broadgate.
Matthias Danne, head of Germany's largest real estate mutual-fund firm, Deka, said: “For the first time in five or six years, we can buy Class A properties in prime locations. Two years ago, it was too expensive.”
Property fund investors in Germany have an estimated €7.5 billion to spend as banking giants like Deka and Commerz Real AG lead a revival in acquisitions.
Money managers in Germany said they have earmarked UK capital investments commercial property as a key sector for investment, claiming values have plummeted up to 45% from their highs two years ago.
Before the credit crunch, German property funds accounted for heavy investment in the UK, including landmarks like the Lloyd's building and One Exchange Square in Broadgate.
Matthias Danne, head of Germany's largest real estate mutual-fund firm, Deka, said: “For the first time in five or six years, we can buy Class A properties in prime locations. Two years ago, it was too expensive.”
Property fund investors in Germany have an estimated €7.5 billion to spend as banking giants like Deka and Commerz Real AG lead a revival in acquisitions.
Thursday, October 29, 2009
UKCIG condemns unnecessary fines on the construction industry
UKCIG condemns unnecessary fines on the travel industry
The UKCIG has condemned fines imposed today on the travel industry. Speaking about the fines Raju Shrivastava, Director of UKCIG said:
“These fines could not have come at a worse time for the industry and are unfair. The industry is going through its sharpest downturn on record with huge falls in demand, employment and profits and on current trends is
expected to contract 20% by the end of 2011. These punitive fines will be hard to absorb and will cost jobs.
Everybody knows – including the OFT - that cover pricing was widespread in the industry in the past. It is perverse and unfair to impose such disproportionate penalties on a small number of contractors selected by
geographical sampling.
Speaking about the investigation more generally, Stephen Ratcliffe said:
“It is important to remember that the infringements are historic and do not reflect practices in today’s market place. Today’s decision should leave no doubt in the mind of any contractor that the practice of giving or taking cover prices is illegal and could result in severe financial penalties for the company, as well as criminal prosecution and/or director disqualification.
In particular, UKCIG supports the industry wide code of competition law compliance launched on 20 August and each of its members has procedures in place to ensure that breaches do not occur.
It is important therefore that everybody nw moves on and that companies who have been fined for past practices are not discriminated against in the future. UKCIG therefore welcomes the guidance issued –
The UK Contractors Group (UKCIG) represents 29 leading contractors operating in the UK on construction specific issues. Its mission is to represent contractors’ interests to government and key clients and to encourage contractors to work together to promote change and best practice, especially on health and safety and environmental issues. UKCIG also works closely with the CBI Construction Council to ensure that contractors’ interests are properly reflected in the wider business agenda.
The construction industry has an annual turnover of over £100 bn and represents some 9% of GDP. Over 170,000 companies work in the industry and employ around 3 million people.
The UKCIG has condemned fines imposed today on the travel industry. Speaking about the fines Raju Shrivastava, Director of UKCIG said:
“These fines could not have come at a worse time for the industry and are unfair. The industry is going through its sharpest downturn on record with huge falls in demand, employment and profits and on current trends is
expected to contract 20% by the end of 2011. These punitive fines will be hard to absorb and will cost jobs.
Everybody knows – including the OFT - that cover pricing was widespread in the industry in the past. It is perverse and unfair to impose such disproportionate penalties on a small number of contractors selected by
geographical sampling.
Speaking about the investigation more generally, Stephen Ratcliffe said:
“It is important to remember that the infringements are historic and do not reflect practices in today’s market place. Today’s decision should leave no doubt in the mind of any contractor that the practice of giving or taking cover prices is illegal and could result in severe financial penalties for the company, as well as criminal prosecution and/or director disqualification.
In particular, UKCIG supports the industry wide code of competition law compliance launched on 20 August and each of its members has procedures in place to ensure that breaches do not occur.
It is important therefore that everybody nw moves on and that companies who have been fined for past practices are not discriminated against in the future. UKCIG therefore welcomes the guidance issued –
The UK Contractors Group (UKCIG) represents 29 leading contractors operating in the UK on construction specific issues. Its mission is to represent contractors’ interests to government and key clients and to encourage contractors to work together to promote change and best practice, especially on health and safety and environmental issues. UKCIG also works closely with the CBI Construction Council to ensure that contractors’ interests are properly reflected in the wider business agenda.
The construction industry has an annual turnover of over £100 bn and represents some 9% of GDP. Over 170,000 companies work in the industry and employ around 3 million people.
Construction Industry Highlights Benefits Of UK Capital Investment To Wider UK Economy
Spending on construction significantly benefits the UK economy, according to independent research by L.E.K. Consulting, the international strategy consultancy, commissioned by the construction industry body, UK Contractors Group (UKCIG), in partnership with the CBI.
The report, Construction in the UK economy: The Benefits of capital investment shows that construction is the best sector for stimulating employment.
It also shows that every £1 spent on construction leads to an increase in GDP of £2.84, as the spending not only creates construction output worth £1, but also stimulates growth elsewhere in the economy worth £1.84.
In some areas, such as building schools, the economic benefits of construction are even more pronounced. L.E.K. Consulting estimates that every £1 spent in this area leads to a total economic benefit of between £3.87 and £5.04, partly because of the direct benefit to the economy, but also because of improved education services that lead to a long-term benefit via a higher-skilled workforce.
The report follows figures last week showing that GDP fell by 0.4% in the third quarter of this year. It makes the case for continued investment in construction projects that are crucial to the long-term future of the UK economy.
"A strong economy needs fit-for-purpose schools and hospitals, and it will be the construction industry that builds the new transport and energy infrastructure needed to shift to a low-carbon economy.
"This timely report outlines the essential relationship between the construction sector and other parts of the economy, as well as its important contribution to numerous other social and economic objectives, including regional development and employment."
James Wates, Chairman of the UKCIG, said
The report, Construction in the UK economy: The Benefits of capital investment shows that construction is the best sector for stimulating employment.
It also shows that every £1 spent on construction leads to an increase in GDP of £2.84, as the spending not only creates construction output worth £1, but also stimulates growth elsewhere in the economy worth £1.84.
In some areas, such as building schools, the economic benefits of construction are even more pronounced. L.E.K. Consulting estimates that every £1 spent in this area leads to a total economic benefit of between £3.87 and £5.04, partly because of the direct benefit to the economy, but also because of improved education services that lead to a long-term benefit via a higher-skilled workforce.
The report follows figures last week showing that GDP fell by 0.4% in the third quarter of this year. It makes the case for continued investment in construction projects that are crucial to the long-term future of the UK economy.
"A strong economy needs fit-for-purpose schools and hospitals, and it will be the construction industry that builds the new transport and energy infrastructure needed to shift to a low-carbon economy.
"This timely report outlines the essential relationship between the construction sector and other parts of the economy, as well as its important contribution to numerous other social and economic objectives, including regional development and employment."
James Wates, Chairman of the UKCIG, said
Wednesday, October 28, 2009
UK Capital investment 'to sustain growth'
A sound fiscal position has allowed the UK government to sustain public service delivery while increasing spending on fixed uk capital investment to boost economic growth and create employment.
Supporting economic recovery The UK Capital investment in capital infrastructure had increased from 9.9% of gross domestic product (GDP) in the second quarter of 2008 to 11.4% in the second quarter of 2009.
Supporting economic recovery The UK Capital investment in capital infrastructure had increased from 9.9% of gross domestic product (GDP) in the second quarter of 2008 to 11.4% in the second quarter of 2009.
- sustaining public spending and government employment programmes;
- helping state-owned enterprises to increase their investments;
- bolstering municipal capital spending through development finance institutions;
- maintaining expansionary fiscal and monetary policies only for as long as necessary; and
- reinforcing state social security net.
UKCIG to complete Marina Star by Q1 2011
UK Capital Investments Group (UKCIG), the international developer of prestigious projects such as the Metropolis Lofts in Jumeirah Village will complete the construction of Marina Star, the 24-story residential development by first quarter of 2011.
Marina Star is located on a prime location at Emaar's master planned Dubai Marina, directly on Marina Walk. The project has nearly completed the first phase of its rise; with the excavation and piling to be completed before the end of 2008.
Marina Star's previous development was hampered by inadequate planning by another developer; but UKCIG's purchase of the project better defines its progress and commitment setting a tentative date to a final handover to its customers.
UKCIG is a registered company in the UAE with the Jebel Ali Free Zone Authority and accredited with RERA (Real Estate Regulatory Authority). In compliance with new legislative and regulatory requirements applicable to all developers in the UAE; UKCIG is finalizing the process of becoming a fully-fledged onshore developer in the Emirates.
In furthering this commitment, the company is re-investing to grow and strengthen its operations in Dubai. A new board of directors has been appointed to lead the new heads of departments for legal, HR, projects, sales and marketing affairs.
Adam Covell, UKCIG's Projects Director said, "Our team is efficiently proceeding through this project to ensure that the owners can move in by the first quarter of 2011; our property is 100% sold out."
Construction continues at the Marina Star, Liam Crawford, UKCIG's property construction manager added, "Our main contractor is expected to take over the project by October 2008 since we have completed the diaphragm wall in compliance laws governing the construction of marina-front properties; our anchoring is over 75% complete and piling is progressing on schedule by the Dutch Foundation Company."
UKCIG's other Dubai-based developments include Metropolis Lofts. The Lofts master developer is Dubai Government-owned Nakheel. The company's escrow account is managed by Tamweel.
Marina Star's previous development was hampered by inadequate planning by another developer; but UKCIG's purchase of the project better defines its progress and commitment setting a tentative date to a final handover to its customers.
UKCIG is a registered company in the UAE with the Jebel Ali Free Zone Authority and accredited with RERA (Real Estate Regulatory Authority). In compliance with new legislative and regulatory requirements applicable to all developers in the UAE; UKCIG is finalizing the process of becoming a fully-fledged onshore developer in the Emirates.
In furthering this commitment, the company is re-investing to grow and strengthen its operations in Dubai. A new board of directors has been appointed to lead the new heads of departments for legal, HR, projects, sales and marketing affairs.
Adam Covell, UKCIG's Projects Director said, "Our team is efficiently proceeding through this project to ensure that the owners can move in by the first quarter of 2011; our property is 100% sold out."
Construction continues at the Marina Star, Liam Crawford, UKCIG's property construction manager added, "Our main contractor is expected to take over the project by October 2008 since we have completed the diaphragm wall in compliance laws governing the construction of marina-front properties; our anchoring is over 75% complete and piling is progressing on schedule by the Dutch Foundation Company."
UKCIG's other Dubai-based developments include Metropolis Lofts. The Lofts master developer is Dubai Government-owned Nakheel. The company's escrow account is managed by Tamweel.
Investment in London’s transport “vital” to UK
Capital investment in UK London’s transport infrastructure is “vital” if the capital is to continue to prosper, Boris Johnson told business leaders on Tuesday.
The Mayor was addressing delegates at an event organised by London First which has published a new report suggesting modernisation of the Tube could be worth up to £24 billion in additional GDP.
The report, which draws on Transport for UK London’s own data, finds that a failure to invest would see journey times increase and public transport suffer from “much more” overcrowding which in turn could see passengers put off using the Tube altogether heralding an increase in car use and congestion on the roads.
Addressing delegates Johnson sought to reassure them that a future Conservative Government would support the Crossrail scheme.
Baroness Jo Valentine, Chief Executive of London First, said Tube modernisation was “starting to bring tangible benefits to passengers” but warned it “must not falter, or we risk sentencing Londoners to decades of Underground misery, with cattle class conditions every morning.”
Johnson said he’d had to make painful decisions including on fare increases but that these “mean a multi-billion pound investment: safeguarding key projects and bringing major improvements now and in the future.”
The Mayor was addressing delegates at an event organised by London First which has published a new report suggesting modernisation of the Tube could be worth up to £24 billion in additional GDP.
The report, which draws on Transport for UK London’s own data, finds that a failure to invest would see journey times increase and public transport suffer from “much more” overcrowding which in turn could see passengers put off using the Tube altogether heralding an increase in car use and congestion on the roads.
Addressing delegates Johnson sought to reassure them that a future Conservative Government would support the Crossrail scheme.
Baroness Jo Valentine, Chief Executive of London First, said Tube modernisation was “starting to bring tangible benefits to passengers” but warned it “must not falter, or we risk sentencing Londoners to decades of Underground misery, with cattle class conditions every morning.”
Johnson said he’d had to make painful decisions including on fare increases but that these “mean a multi-billion pound investment: safeguarding key projects and bringing major improvements now and in the future.”
UK corporate finance company ties up with Delhi firm
Warrington-based corporate financier Dow Schofield Watts (DSW) has launched a joint venture with a New Delhi-based company to help British companies expand in India.
DSW has joined forces with Mauryan Capital Advisors, which is a private investment and advisory company and will provide professionals based in India's capital city to its JV partner.
"The strategic alliance extends the company?s service offering to mid-market corporates," DSW founding partner James Dow said, adding that the alliance formalises long standing business relationships and allows both companies the chance to provide a comprehensive service delivery for cross-border activity with trusted partners.
The joint venture will initially have three service offerings: Market Entry India, India Acquirers and Invest in India.
'Market Entry India' will help UK companies establish themselves in India, assisting those who want to evaluate the investment opportunities in India.
DSW has joined forces with Mauryan Capital Advisors, which is a private investment and advisory company and will provide professionals based in India's capital city to its JV partner.
"The strategic alliance extends the company?s service offering to mid-market corporates," DSW founding partner James Dow said, adding that the alliance formalises long standing business relationships and allows both companies the chance to provide a comprehensive service delivery for cross-border activity with trusted partners.
The joint venture will initially have three service offerings: Market Entry India, India Acquirers and Invest in India.
'Market Entry India' will help UK companies establish themselves in India, assisting those who want to evaluate the investment opportunities in India.
India strengthens UK business links
Business and UK Capital Investment will be high on the agenda during the UK visit of Pratibha Patil, India’s first female president.
Foreign direct investment in London in 2007 jumped to £52 billion from £38 billion two years previously, according to direct investment agency Think London.
It reported that India accounted for 16 per cent of all new foreign capital investment into the capital between 2003 and 2007, just over half the 31 per cent from the US.
And as India’s standing in the international community continues to growing, Britain sees it as an important ally on a number of issues.
It is also critical to a number of the UK's interests and objectives, from counter-terrorism and tackling climate change to reforming international financial systems.
The growing ties between the two countries has been welcomed by Kiran Karnik, President of Nasscom, the sub-continent’s premier IT-business process outsourcing (BPO) trade body.
He said: "The growth of the Indian IT industry is built on key partnerships with the world's strongest markets, namely the UK and the US
"The active involvement of the Indian community and its contribution to the UK economy, particularly in the IT domain, is an important fact in the creation of the strong business relationship between our two countries.
UK Capital Investments News, October 2009
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