Latest news with #MESC
Daily Mail
31-05-2025
- Business
- Daily Mail
JEFF PRESTRIDGE: There ARE simple ways for trusts to boost their shares
Investments trusts are a super way for investors to get long-term exposure to stock markets – and make some money along the way. They're easy to buy and sell, and most provide value for money. Yet they are not without flaws, as predators such as American hedge fund manager Saba Capital have sought to exploit. The biggest one is that as funds listed on the London Stock Exchange, their share prices do not always reflect their underlying asset value. In most cases, they undervalue them. In investment speak, they trade at a discount. When this happens, shareholders see the worth of their investments eroded. It's frustrating. The average discount industrywide is currently about 15 per cent. Trust shares trade at discounts for many reasons: out of vogue investment mandates; an unappealing stock market (as London has been for quite a while); and an unfriendly economic and financial backdrop. Yet underpinning all these reasons is a mismatch between buyers and sellers. More investors want out than in. Saba has sought to make money from this by buying stakes in undervalued investment trusts and then agitating for change. So far it hasn't managed to take any trusts under its wing, but it has helped close discounts on some trusts, making money in the process. A few days ago I spoke to Richard Curling, chairman of trust Montanaro European Smaller Companies (MESC), about discounts. The £277 million trust has Saba among its shareholders. Curling says investment trusts must do more to reduce the 'volatility' in share price discounts. At MESC, he has implemented a three-prong strategy designed to drive down the trust's discount. It has involved buying back shares (in effect reducing their supply to make them scarcer); allowing investors twice a year to exit the trust at close to asset value; and reducing the annual charge from 0.9 to 0.825 per cent. Although early days, it's working. The trust's discount is now 8 per cent, more than half what it was in November last year (Saba has taken advantage of this to trim its stake). And unlike many other trust chairs, Curling has a bit of get up and go about him. Curling believes the investment trust industry needs to do far more to attract investors – young and old – something which would help drive down discounts. His ideas include the use of social media to get younger people interested in investing, and the removal of jargon from key literature such as annual reports. He adds: 'We must present our case better to potential investors. Plain English, not jargon.' Curling is bang on the nail. Although stellar investment performance will always be the number one priority for investors (MESC's share price is up 17 per cent over the past year), investment trusts must become more relevant to today's investors. Otherwise there is a danger many will be undermined by discounts. On a related issue, the industry's flag waver, the Association of Investment Companies (AIC), is calling for a change in UK company law that would ensure more trust shareholders vote on key issues, such as a trust's discontinuation or takeover. Currently, many shareholders are thwarted from voting because the platform they hold their investments with don't pass on details. The AIC has launched a petition on this issue. It needs 10,000 signatures for the Government to respond ( As a fan of trusts and investor empowerment, I've put my name to it, as have 1,798 other people. Are there 8,202 lovers of investment trusts out there who will get the petition to the next step? I do hope so. Leave Gift Aid alone, Rachel Gift Aid is a financial lifeline to many charities left battered and bruised by Chancellor Rachel Reeves's recent hike in employer National Insurance costs. It boosts the coffers of 66,000 charities by £1.6 billion a year. This month, I am doing two Race For Life runs for fabulous charity Cancer Research UK – a 5km event in London's Battersea Park, followed by a 10km run in glorious Worthing, West Sussex (I have a thing about piers). So far, Gift Aid, a 25 per cent top-up on donations, has increased my fundraising by more than £180. So, Rachel, I know you've made a pig's ear of the country's finances, but please leave Gift Aid alone come the Autumn Budget. You've hit charities once in the pocket. Twice would be cruel beyond cruel. Rachel de Vil. Watch out for your bank sneakily dropping chip and pin payments Like many readers, retired teacher Moira McCormick isn't a fan of new banking technology. She prefers cards that require a personal identification number (PIN) to contactless. 'It provides me with a layer of financial protection,' she says. But recently she used her card to pay for parking at her local Banbury railway station, only for the payment to be completed without requiring a PIN. Worried that anyone could use her card to pay for parking if she were to lose it, she contacted Chiltern Railways (operator of the car park) for an explanation. She was told that Mastercard and Visa have informed the company which provides the payment service for Chiltern's ticket machines that 'insecure unencrypted PIN validation' was no longer permitted. She was told to contact her card issuer (HSBC) for a replacement that asks for PIN verification. Chiltern informed her that some cardholders with Lloyds and Royal Bank of Scotland (NatWest) were also affected. 'I was told the change is meant to improve the security of my card,' says Moira, 'but it's now less secure. Anyone could use it if I lost it.' Indeed, when sales director Bradford Bines, from Leigh-on-Sea in Essex, lost a card in a Manchester car park, he later discovered it was fraudulently used 29 times by exiting drivers. HSBC insisted that changes to the technology were designed to make cards 'more secure from criminals trying to steal data'. Moira's non-PIN payment, it said, was deemed to be 'low value and low risk', adding: 'A decision was made to approve this payment without a PIN for the convenience of the customer.' Moira isn't happy. She says HSBC should have informed her that some payments would no longer require a PIN. Fair point.
Axios
16-05-2025
- Business
- Axios
DOE's new grant scrutiny could endanger some energy projects
The Energy Department revealed it's carefully auditing billions of dollars in Biden-era grant awards. It could spell trouble for some projects. Why it matters: The news sheds light on an area of intense interest — how and whether DOE will proceed with unprecedented project support amid Trump 2.0's climate policy U-turn. Awards under the 2021 infrastructure law and 2022 climate law are provided in tranches based on milestones. That gives Trump 2.0 sway over its predecessors' award decisions — as well as openings to apply new types of vetting. Catch up quick: DOE on Thursday announced case-by-case reviews of grant awards and other aid. It's designed to ensure projects are "financially sound and economically viable, aligned with national and economic security interests," and consistent with Trump 2.0 priorities, the announcement states. Secretary Chris Wright, in a statement, said money was "rushed out the door" in the late Biden era and that DOE has already found "concerning" info. What they're saying: Jeff Navin, a partner at clean-tech focused lobbying and advisory firm Boundary Stone Partners, said he's already getting questions from clients about how to prepare for DOE reviews. "For some of these newer sectors, there isn't a ton of market data available, some of the assumptions in the analysis could be quite subjective, and it's going to be important that applicants are very diligent in responding to the questions," Navin, a senior Obama-era DOE aide, said via email. State of play: The agency said it's initially seeking more info on 179 awards totaling over $15 billion. It's focused on $8.4 billion in projects approved by DOE's Grid Deployment Office (GDO) and $7.3 billion under the Office of Manufacturing and Energy Supply Chains (MESC), per a tally via Bloomberg and confirmed to Axios by DOE. Zoom in: A DOE document sent to awardees and viewed by Axios shows many granular questions that together give a sense of department aims. For instance, GDO recipients are asked about their projects' effects on reliability, consumer energy costs, and more. For MESC projects, it seeks extremely detailed data on financial models, expected rates of return, pitchbooks, board minutes, market analyses and many other things. Both categories of recipients get expansive questions about any links to China, Iran, Russia or North Korea (the bucket known as "foreign entities of concern"). "With this process, the Department will ensure we are doing our due diligence, utilizing taxpayer dollars to generate the largest possible benefit to the American people and safeguarding our national security," Wright said in a statement. Threat level: Bridget Bartol, a senior DOE aide under Biden, said it's normal for a new team to examine existing awards. But she added: "This action comes across as though they're struggling to find a legally justifiable way to cancel projects they ideologically disagree with, and the delay tactic approach is getting stale." She said awarded projects have been very well-vetted and are aimed at "building a stronger industrial base, increasing electrons across the country and building secure infrastructure."
Zawya
24-04-2025
- Business
- Zawya
MESC obtains $37.33mln loan from Riyad Bank
Riyadh – Middle East Specialized Cables Company (MESC) penned a Sharia-compliant facility deal worth SAR 140 million with Riyad Bank on 23 April 2025. The loan is secured by promissory notes valued at SAR 148 million and assignment of insurance proceeds, according to a bourse filing. MESC will use the investment to finance its working capital and issue different types of bank guarantees. In September 2024, the company secured a SAR 100 million facility from Alinma Bank. Source: Mubasher All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. ( Mubasher
Time of India
21-04-2025
- Entertainment
- Time of India
Fostering creativity and innovation: Indian Institute of creative skills and MESC at startup Mahakumbh 2025
In a grand confluence of creativity and innovation, the Indian Institute of Creative Skills , affiliated with NSDC Academy and operated by the Media & Entertainment Skills Council (MESC) under the aegis of the Ministry of Skill Development & Entrepreneurship (MSDE), marked its presence as an academic partner at Startup Mahakumbh 2025 . Held at Bharat Mandapam from April 3 to 5, the event, themed "Startup India @ 2047—Unfolding the Bharat Story," brought together over 3,000 startups, more than 1,000 investors and incubators, and delegates from over 50 countries. The summit celebrated visionary ideas, entrepreneurship, and the future of India's innovation economy. As knowledge partners, the Indian Institute of Creative Skills and MESC highlighted the role of skill-based creative education in driving India's growth story. From prosthetic makeup to game design, film production to animation, and journalism to public relations and creative communication, the institute offered a glimpse into the future of hands-on, job-ready learning . A highlight of the participation was the live prosthetics demonstrations by Harry, Industry Mentor in Hair, Makeup & Prosthetics. These sessions drew enthusiastic crowds and offered insight into the craftsmanship and evolving technology transforming the world of media and entertainment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Adding intellectual depth to the event, Dr. Mohit Soni, CEO of MESC, joined a panel discussion titled 'India's Gaming Industry : A Rising Global Powerhouse' at the WinZO Booth in the Gaming & SportsTech Pavilion. Addressing the audience, he said, 'To position India as a global leader in gaming, we must invest in nurturing talent that is both creatively adept and technologically proficient.' Throughout the summit, the institute connected with aspiring professionals, entrepreneurs, and industry leaders, showcasing its future-ready curriculum that blends traditional artistry with modern tools and technology. Startup Mahakumbh 2025 proved to be a canvas of collaboration, inspiration, and future-building. The participation of the Indian Institute of Creative Skills and MESC reaffirmed their commitment to empowering India's next generation of storytellers, creators, and communicators. Admissions are now open for the upcoming academic session. Students looking to build careers in media, entertainment, journalism, public relations, design, and communication are encouraged to join a transformative institution committed to shaping tomorrow's creative leaders.
Arab News
18-04-2025
- Business
- Arab News
Who's Who: Shahid Khan, Global Head of Media, Entertainment, Sports, and Culture sector at Arthur D. Little (ADL)
Shahid Khan is the global head of media, entertainment, sports and culture at Arthur D. Little (ADL), the world's oldest management consulting firm. Born and raised in Kuwait and fluent in Arabic, Khan brings a globally informed yet locally grounded perspective shaped by a 25-year professional career across the US, Europe and the GCC. In recent years, he has centered his efforts on Saudi Arabia's transformation under Vision 2030. As part of this commitment, he relocated to the region and moved ADL's global headquarters for the MESC practice to Riyadh, from where he leads the firm's global engagements. Since 2018, Khan has served as a trusted adviser to a range of Saudi entities — including ministries, regulators, commissions, sovereign wealth funds, and leaders from the private and non-profit sectors. His work spans media, entertainment, sports, gaming, culture, tourism, hospitality and other adjacent sectors. Khan's advisory scope includes sector development and enablement, policy and regulatory design, innovation, value creation, commercialization, investment and transaction advisory, partnerships and sponsorships, branding, marketing & communications, digitalization, business incubation & venture building, and large-scale transformations. His commitment to the region is evident in his work and approach. He and his team are known for going beyond traditional consulting outputs — delivering tangible, lasting results that support long-term sustainable impact. Additionally, Khan has contributed to the Kingdom's creative economy through advisory roles, including serving on the boards of the Saudi Film Fund and Sandbox. Before anchoring his work in the Middle East, Khan spent more than two decades immersed in the Hollywood and wider global media and technology space. He held senior leadership roles at consulting firms such as IBM Global Services, BearingPoint, Zefer, and Accenture (formerly IBB Consulting), and worked with industry giants including Disney, NBC Universal, Time Inc., Dow Jones, Conde Nast, WWE, and GolfNow among many others. As a serial entrepreneur, he founded Mediamorph, a revolutionary cloud-based platform that transformed how digital content is bought and sold. The platform earned the Cablefax Tech Award, was named in Deloitte's Fast 500, and was later acquired by Whip Media Group. He also launched MAG (Meridian Advisory Group), a boutique consultancy focused on media, entertainment, sports, and tech & wireless innovation, which was recognized by Consulting Magazine as one of its 'Seven Small Jewels' before being acquired by ADL in 2021. Khan earned his MBA in finance and marketing from New York University's Stern School of Business. He is an active member of the Young Presidents' Organization — having served on the board of the Manhattan chapter, and is now a member of the Saudi chapter — and is a former board member of NATPE, a global content industry association. His contributions have been recognized through accolades such as 'Top 25 Digital Transformation Leaders' and '50 Outstanding Asian Americans in Business.' Khan is a proud father of two, who are already carrying his legacy forward – his son is in investment banking at Jefferies, focused on media, entertainment, and sports, while his daughter is following a similar path at LionTree.
