Has Swire bet on the wrong horse?

His new company with his mate Lord Barker (friend of Russian oligarchs) was formed to take advantage of “emerging energy markets”:

https://eastdevonwatch.org/2018/05/30/swire-and-his-investment-in-emerging-economies/

https://eastdevonwatch.org/2018/06/15/swires-mate-and-co-director-shames-himself/

Today, we read (following Trump’s trade tantrums):

“Emerging Market stocks hit an 8-month low, down 7% YTD and 16% from their January high.”

Only 7% – poor Swire.

Swire’s mate and co-director “shames himself”

It seems the national press is reluctant to point out that Lord Barker is in the energy business with our own Hugo Swire:

https://eastdevonwatch.org/2018/05/20/swire-and-lord-barker-linked-to-russian-military-and-oligarchs-appear-to-be-in-business-together-a-business-apparently-not-on-his-register-of-interests/

“A Tory peer has “shamed himself” by ­lobbying for a Russian energy giant that had sanctions imposed after the Salisbury attack.

David Cameron’s ex-Energy Minister Greg Barker met with the Irish government last month in a bid to enlist its support for En+.

Lord Barker is chairman of En+, which is majority owned by Russian oligarch Oleg Deripaska, a close ally of Vladimir Putin.

En+ and Mr Deripaska were slapped with sanctions after the murder plot against Sergei and Yulia Skripal in March.

The meeting can be disclosed today by the Mirror.

In response, MPs called on Theresa May to launch an inquiry into Lord Barker’s business dealings.

In April, Donald Trump imposed sanctions against billionaire Mr Deripaska and the companies in which he is a large shareholder.

His firms include aluminium producer, Rusal, and its parent firm En+. Rusal is the parent company of Aughinish Alumina in County Limerick, which employs 450 workers.

Lord Barker’s meeting with Irish Business Minister Heather Humphreys will raise ­questions about Tory links to Russia after the PM blamed the Salisbury attack on Moscow.

Lib Dem MP Tom Brake said: “He has shamed himself and the office he held.”

Jon Trickett MP, Labour’s Shadow Minister for the Cabinet Office, added: “It stinks.”

The Irish government said it remained “concerned” about the impact of sanctions.

There is no suggestion Lord Barker is in breach of the Lords’ code of conduct.

Neither he nor En+ would comment.”

https://www.mirror.co.uk/news/politics/tory-shamed-himself-lobbying-russian-12718297

DCC East Devon Alliance Councillor backs East Devon National Park

“I’m putting forward a motion to the next meeting in July for the Council to support a new park, which would include the East Devon Area of Outstanding Natural Beauty, and prepare a case for submission to the review of national parks recently announced by the Government.

I’m proposing that Devon County Council supports the creation of a Dorset and East Devon National Park

And EDDC Leader Thomas is … silent so far. And Hugo Swire is … silent so far!

Beware the close pals of your close pals …

Swire is a 50% director of a company planning to invest in energy projects in emerging markets with Lord Barker:

https://eastdevonwatch.org/2018/05/20/swire-and-lord-barker-linked-to-russian-military-and-oligarchs-appear-to-be-in-business-together-a-business-apparently-not-on-his-register-of-interests/

Lord Barker is facing pressure to resign as chair of the Russian aluminium giant En+ owned by sanction-hit billionaire Oleg Deripaska.

Here is what the Sunday Times has to say about Mr Deripaska today in an article headed: ” ‘Dirty money’ probe targets oligarchs”:

” … aluminium tycoon Oleg Deripaska, who is worth more than £2.6 billion and whose company En+ Group is listed on the Lindon Stock Exchange … was accused of illegal wiretapping, extortion, racketeering, money laundering, and threats against business rivals. …”

Source: Sunday Times (pay wall)

Swire and his investment in “emerging economies”

Our MP Hugo Swire is investing in “emerging economies” with his controversial pal, Lord Barker:

https://eastdevonwatch.org/2018/05/28/swire-and-eaglesham-investments-still-not-on-his-register-of-interests/

But what is an “emerging economy”? Fortunately, a business publication has an explanation:

” … Top of the list of emerging markets is China, according to Ross Teverson, co-manager of Jupiter Emerging & Frontier Income Trust. China’s economy is predicted to grow by 6.6 per cent in 2018, compared to 1.6 per cent for the UK economy, as stated by the International Monetary Fund.

“China is the obvious example of an emerging market country making rapid and dramatic economic progress; today, a number of Chinese companies rank among the largest and most innovative globally.”

Another region to consider is sub-Saharan Africa, according to Teverson, where a growing middle class, as well as improved infrastructure, communications, and technology, is creating several attractive long-term investment opportunities.

“Gradually increasing penetration of financial products, combined with remarkable demographics – the median age in Kenya is just 20 years – should create a backdrop that, for well-placed financial institutions operating in the region, should prove conducive to strong and sustained earnings growth for a long time to come.”

While some savers might be sceptical of putting their money at risk in these markets, it’s worth remembering that the emerging economies of today may likely grow into leading, developed ones in the future.

After all, the world’s largest economy, the US, was actually considered an emerging market 150 years ago. …”

Source: City AM
http://flip.it/V6OcZV

So, no investment in East Devon then!

Swire and Eaglesham Investments … still not on his register of interests

Eaglesham Investments incorporated on 12 December 2016 and shown as live’
https://beta.companieshouse.gov.uk/company/10520733

Swire and Lord Barker only two directors, shown as active.

Described by Lord Barker in HIS register of interests as “developer of clean energy projects overseas, focussed on emerging economies”
https://www.parliament.uk/biographies/lords/lord-barker-of-battle/1389/register-of-interests

Barker is very controversial – involved in a company with a Russian oligarch (Oleg Deripaska) who is allegedly linked to a “dirty money” scandal:
https://www.mirror.co.uk/news/politics/second-tory-russia-dirty-money-12608295

and

https://order-order.com/2018/05/21/top-torys-firm-implicated-russian-dirty-money-report/

The company is still not on Swire’s register of interests on 18 May 2018:
https://publications.parliament.uk/pa/cm/cmregmem/180514/swire_hugo.htm