Clym Evernden, one of London's most influential people in the art space, details his creative process, the role of social media, and AI-generated art
arts1 hour ago
Siemens ‘would very much welcome an active involvement’ by funds from the Gulf, Russia and other regions, Joe Kaeser told the Financial Times in an interview.
‘We are very open to anyone who would want to join us as an investor.’
But while an investment similar to one by Mubadala, Abu Dhabi's investment vehicle, in rival General Electric (GE) would provide opportunites in fast-growing regions, a deal could be hard to sell politically.
Germany is in the midst of a stiff debate over whether to allow state-owned foreign funds to buy major stakes in prominent or strategic companies.
But Kaeser called the GE deal with Abu Dhabi, which includes the creation of an eight billion euro (11.8 billion dollar) joint venture in the Middle East, ‘a meaningful and smart move.’
He did not say which funds Siemens had talked with, but said they included ones from the Gulf and elsewhere, including Russia.
The German industrial group already cooperates with Russian steel magnate Alexey Mordashov in a joint venture to build power plant components, the Financial Times noted.
Siemens' share price has fallen by almost one third this year, and a major long-term investor would also provide protection against ‘activist investors or rivals,’ it added.
But Germany has drafted a law to protect companies from unwanted foreign investors, though it is not directed specifically against investment funds from the countries or regions in question.
Clym Evernden, one of London's most influential people in the art space, details his creative process, the role of social media, and AI-generated art
arts1 hour ago
Police said no one has yet claimed responsibility for the judge's abduction
world1 hour ago
Earlier today, the met alerted residents of unstable weather conditions and rainfall that might hit the country on Thursday
weather1 hour ago
The country remains committed to supporting all humanitarian efforts alongside the international community to mitigate the crisis
uae2 hours ago
Students in the country are gearing up for their I/GCSE and A Level exams that will be held between May 9 and June 25
uae2 hours ago
Western countries, including the US, have pleaded with Israel to hold back from attacking the southern city, which is sheltering more than a million Palestinians
mena2 hours ago
The event follows on from the successful hosting of the Ultimate Golf Challenge in January this year
sports2 hours ago