Press release: Graham Stuart leads major infrastructure investment drive at Berlin conference

first_img Since DIT’s foundation in July 2016, the British government now has a department of state solely focused on trade and investment and our network is dedicated to supporting businesses across the globe. The UK is Europe’s top destination for foreign investment, and as an international economic department, we are determined that investment in infrastructure is a major part of the Industrial Strategy. With more than £500 billion of infrastructure investment opportunities up to 2020/21, and an exemplary record of project completion, I will be telling the world’s most influential investors why the UK should be their first choice for investment. One recent investment – of £1.4 billion as part of a consortium including Meridiam and Allianz Capital Partners – will help NeuConnect build the first direct power link between Germany and the UK.The project will create new export and import routes for electricity for each market, benefitting UK and German consumers with reduced wholesale and consumer electricity prices.Chief Executive Officer of NeuConnect Britain, David Inglis, said: The Infrastructure Investor Global Summit in Berlin will include 1,400 delegates from more than 140 of the world’s biggest global institutions and private investment firms, who collectively manage more than £500 billion in capital.During his speech, Minister Stuart will explain why the UK is the top investment destination in Europe, thanks to its open, liberal economy, flexible labour market, and business-friendly regulation.Inward FDI stock now stands at a record £1,199 billion, and is estimated to have created or safeguarded 107,000 jobs in 2016/17.The UK also has an excellent record of infrastructure delivery, with over 4,500 projects completed since 2010 and 98% of 158 priority projects either on track for delivery or completed.A further 720 infrastructure projects – with a value over £500 billion – are due to start before 2020/21, and Minister Stuart will hold roundtables with leading figures in the German financial community to show how the UK will continue to offer huge investment potential in years to come.Minister for Investment Graham Stuart said:center_img The first direct connection between the UK and German power grids offers great economic benefits for both countries and furthers the integration of renewables by enabling both countries to balance their future energy needs from a new market. The long-term investors are very committed to jointly work with the national governments and regulators of both countries to successfully deliver this innovative and independent energy infrastructure project to German and British consumers.last_img read more

Windies slip further in world rankings

first_img Race against time UBAI, United Arab Emirates, (CMC): West Indies’ hopes of an automatic World Cup spot suffered yet another blow when they slid even further in the latest ICC One-Day International (ODI) rankings released yesterday. The Caribbean side remained ninth in the rankings but lost four ratings points to slip to 79, falling further behind eighth placed Pakistan in their race for a top eight place in order to qualify for the 2019 World Cup in England. Hosts England and the next seven highest-ranked sides at the September 30 cut-off date will qualify for the showpiece. With their latest slide, the Windies are now nine points adrift of Pakistan who dropped two points in the latest rankings. The two sides met recently in a pivotal three-match one-day series with Pakistan emerging winners by a 2-1 margin. Two-time World Cup champions West Indies are running out of time to improve their ranking with series against minnows Afghanistan in June and England in September remaining. Should the Windies fail to qualify automatically, they will enter a 10-team qualification tournament in an attempt to secure one of the two remaining World Cup berths. South Africa and Australia, meanwhile, have remained top of the ODI rankings, with the Proteas gaining four points to move up to 123 and the Aussies remaining stagnant. India, meanwhile, have gained five points and replace New Zealand in third place with the Black Caps dropping to fourth. England lie fifth on 109 points, Sri Lanka are sixth despite dropping five points while Bangladesh are seventh on 91.last_img read more

Wimbledon: Serena Williams, Elena Vesnina set up semifinal clash

first_imgRussia’s Elena Vesnina, the last unseeded singles player standing, reached her first grand slam semi-final on Tuesday, defeating 19th seed Dominika Cibulkova 6-2 6-2.Vesnina’s power and accuracy on Wimbledon’s Court One saw her comfortably ease past the Slovak, who may have had to postpone her wedding on Saturday had she made it through. (Also read: Venus Williams, Angelique Kerber reach Wimbledon semifinals)Vesnina, ranked 50 in the world in singles, is best known as a doubles specialist and has won two majors with Ekaterina Makarova, her opponent in the previous round.  (Also read: Wimbledon: Sania Mirza-Ivan Dodig crash out of mixed doubles)Vesnina will play world number one and defending champion Serena Williams in Thursday’s semi-finals after the American defeated the other Russian in the last eight, Anastasia Pavlyuchenkova, 6-4 6-4.last_img read more