AuthorNicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

Schiphol cancels 2020 profit forecast

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Schiphol Airport company throws the expectations it expressed earlier for 2020 in the trash because of the corona crisis. The company is not venturing into new predictions, the situation is now too uncertain. At the presentation of the annual figures for 2019 in mid-February, Schiphol still assumed limited passenger growth in 2020. Net profit, which amounted to 355 million euros last year, was...

Timur Kulibayev, the man who bought his own oil company

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Timur Kulibayev is one of the richest businessmen of the World. His wealth is dispersed in oil and gas exploration, banking, finance and development projects. Being a son-in-law of the long-time Kazakhstan president Nazarbayev he accumulated unseen wealth and influence. Officially, Nursultan Nazarbaev, has three daughters and no sons. In the Central Asian reality it means that sons-in-law had to...

Air France – KLM first in line for emergency credit

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Air France-KLM and aircraft manufacturer Airbus are at the front of the queue with the French government to receive special emergency credits for getting through the corona crisis. Airbus is also said to have approached the German government for help. Bloomberg news agency reports this on the basis of insiders. Aviation is one of the hardest hit sectors due to the outbreak of the new corona virus...

Saudi Arabia – Russia spat made oil 30 percent cheaper

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Oil prices have fallen by almost 30 percent after Saudi Arabia decided to lower the asking price for its oil. Moreover, the country announced that it would be producing considerably more in April. The Saudis want to force Russia to agree with a production reduction proposed by the oil cartel OPEC. American oil was worth a little more than $ 30 a barrel, at $ 30.03 on Monday morning around 8:00 am...

Jamie Dimon undergoes heart surgery

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JPMorgan Chase boss Jamie Dimon, chief executive of the largest bank in the United States, underwent urgent heart surgery on Thursday to close a crack in his main artery. According to the financial group, the intervention was successful. Dimon, who is considered one of the most prominent drivers on Wall Street, will be replaced by two other executives during his recovery. The 63-year-old has been...

Mukhtar Ablyazov to be sanctioned for not showing up in court

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The District Court of New York ordered Mukhtar Ablyazov to pay an additional $140,115 to cover the expenses of the Almaty city and the BTA Bank. It will reimburse the attorneys and other fees, Ministry of Justice of Kazakhstan reported. Plaintiffs are seeking to to impose additional fines and sanction on the fugitive ex-banker Mukhtar Ablyazov. The proceedings started in July 2019. Sanctions are...

B&S has achieved a lower EBITDA because of Asian troubles

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B&S Group has achieved a lower operating result (EBITDA) than expected. However, this is mainly due to problems in Asia such as the trade war between the United States and China and the ongoing protests in Hong Kong. The results are encouraging, according to analysts at ING. They also point to the expectation of the B&S board that the consequences of the outbreak of the new corona virus...

Bridging the investment and ICO’s: the story of Kenes Rakishev and his Sirin Labs

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Sirin Labs with its Finney smartphone was a bright star of the Year of the Crypto. It managed to attract first-hand celebrities and multi-million investments. It wouldn’t be true to proclaim it as a total and utter success. In fact, it wasn’t designed to be broad-base phone for everyone. It has some market and is quite successful in its own niche. What’s more important is that...

Allianz insurance company reported higher annual profits

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Allianz closed last year with a higher profit than a year earlier. The German insurer sold more insurance policies and benefited from higher margins on investments at its life and health insurance division. In addition, the total assets that Allianz invests for other parties increased, resulting in higher fees. Turnover for 2019 rose by 7.6 percent on an annual basis to EUR 142.2 billion. Allianz...

Telefónica Q4 in red as Latin American market tumbles

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The Spanish telecom group Telefónica suffered a loss in the fourth quarter of 2019 against a profit a year earlier. The company had to deal with, among other things, depreciation in Latin America and restructuring costs. The net loss amounted to 202 million euros against a profit of 610 million euros a year earlier. Turnover fell to 12.4 billion euros from 12.9 billion euros in the same period in...

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