Business Arena 21.06

On Tuesday’s episode, our host David Kennedy kicked off the show with our main stories which were: 3Seas balanced and resilient energy sector and a big sale of Western assets in Russia.

We took a deeper dive into the diversification of energy sources in Central and Eastern Europe. The new energy landscape must address energy security, energy sustainability, and behavioural changes through energy efficiency. Our host David discussed building a balanced and resilient energy sector in Three Seas Region with our guest Anna Łukaszewska-Trzeciakowska, CEO of ORLEN Neptun I and CEO of BalticPower (Poland).

Also on the programme:

Norway hits Russia. It`s banning oil imports from Russia to Norway by sea. The government of Norway also prohibited the provision of technical and technological assistance, financing investments related to the purchase, import or transfer of oil.

Among other topics, we looked at, were:

Big company for one ruble? There is a big sale of Western assets in Russia. A great deal of Western brands are withdrawing from the aggressor state, selling their property in a hurry. Buyers who do not care about the attack on Ukraine see it as an opportunity to make a good deal that will pay off in the future.

Sri Lanka is set to begin talks with IMF as the economic crisis worsens. The IMF programme will provide access to other financing options. That would be the main way that the country would get any help. But the IMF has already said they are mainly considering the debt restructuring process to provide the assistance.

There really is no such thing as a free lunch. The mystery winner of a charity auction paid $19 million for a private steak lunch with legendary investor Warren Buffet. The sale was part of the 21st annual auction for a lunch with Buffet, produced in collaboration with eBay and the Glide Foundation, a San Francisco-based non-profit working on combating poverty, hunger, and homelessness. It has raised over $53 million for Glide. Unfortunately for aspiring investors hoping to top this year's record, this is the last year of the "power lunch" with Buffet.