Word: banking
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...move demonstrates the fulsome financial power of a region possessing tidal liquidity--as much as $2 trillion, by some estimates--built up by two years of oil prices topping $60 per bbl. "Nothing can stop them," says Hassan Heikal, CEO of EFG-Hermes, the region's leading investment bank. "These guys have investment managers as good as their counterparts in global institutions...
...troubles for Nova don't end there. Court-appointed lawyers investigating the case allege that Sahashi, who has been fired by the board and hasn't been seen in public since June, had turned his company into something of a personal piggy bank; they accuse him of misappropriation and aggravated breach of trust. (Sahashi's representative has filed a petition rebutting these allegations.) On Oct. 30, the lawyers invited reporters to check out Sahashi's lavish office at the company's Osaka headquarters, complete with a fully stocked wet bar and a hidden bedroom and sauna. "I wanted to show...
...fund to around $350 billion. But those good times couldn't last forever. With fields beginning to dry up, oil production has slid to 2.6 million bbl. a day this year, from 3.5 million six years ago, says John Olaisen, Oslo-based energy analyst at Carnegie, a Nordic investment bank. For Helge Lund, 44, formerly CEO of Statoil and now chief of the combined company, the message couldn't be clearer: "If we're going to grow the company," he says at StatoilHydro's office in Oslo, "we have to grow outside Norway...
...swing, the $9.2 billion project will pump up to one-fifth of Britain's gas. More than that, though, StatoilHydro's technological muscle on show at Ormen Lange can give it an advantage when bidding for projects in places like the Arctic, says Kjetil Bakken, an analyst at investment bank Fondsfinans in Oslo...
Such an insight was supposed to be a great strength of Citigroup, which combined a venerable global bank (founded as the City Bank of New York in 1812) with the upstart financial supermarket that Weill, the Brooklyn-born son of Polish immigrants, put together in the second act of his remarkable career...