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The falling oil prices may have varied effects on the investment strategies adopted by the petro-states and also on the various markets being analyzed in this study. The level of petrodollar investments is bound to increase. However, if the trend of falling oil prices continue, the quantum of investments made is also likely to fall. On the whole, dramatic growth is expected in the level of domestic investments in 2009. However, international investments are likely to continue growing in a few key sectors of the economy. The following are the various international sectors that can be expected to attract maximum petrodollar investments in 2009 * Real estate * Healthcare * Industrial The following are the various domestic sectors that can be expected to attract maximum petrodollar investments in 2009 * Banking and financial services * Aerospace and defense * Industrial * Education

Sony Corp will invest $369 million (40 billion yen) to power up its lithium-ion battery production operations, adding new facilities and augmenting existing lines. The infusion, which Sony said is the first phase of investment in lithium-ion batteries the company is undertaking as part of efforts to reinforce core areas of its component and semiconductor business over the next three years, will be used to construct new production facilities and to enhance existing lines at Sony's lithium-ion battery production sites in Japan, the Motomiya Technology Center and Tochigi Technology Center of Sony Energy Device Corp. Sony said it is making the investment in response to the growing demand for lithium-ion batteries and that the new production facilities will focus on electrodes, battery cell production lines, and charge and discharge equipment, among other technologies. Sony further reminded its expanding lithium-ion battery production in Singapore and China, and said that in total its monthly production capacity will increase from the current level of 41 million cells per month to 74 million cells in 2010. Sony's $369 million investment will start in its current fiscal year and continue through the second half of its fiscal year 2010. Sony's fiscal Q1 2008 concluded in June. Meanwhile, Matsushita Electric Industrial Co recently committed $923 million (100 billion yen) to build a plant in Osaka, Japan, that is expected to bring its cell production to about 75 million a month from its current 25 million cells per month. Sanyo Electric Co has also reportedly announced plans to invest, promising $1.15 billion (125 billion yen) to develop its rechargeable-batteries business over the next three years. That investment is expected to increase cell output to 90 million per month from Sanyo's current 70 million cells per month. All three of the Japan-based companies last year suffered from loses brought on by their battery operations. Sony-made lithium-

Venture capital is one of the pulses of the industry, and so a headline that VC investments are dropping by double digits is enough to catch the eye of anyone involved in the high tech ecosphere. But when you look at more data, things don't look bleak. On one hand, according to Dow Jones VentureSource, investment is down:\n\nIn the second quarter of 2008, quarterly venture capital investment in U.S. companies slipped below the $7 billion mark for the first time in 18 months. According to the Quarterly U.S. Venture Capital Report released today by Dow Jones VentureSource (http://www.venturecapital.dowjones.com), investment fell 12% in the second quarter compared to the same period last year with $6.64 billion put into 602 deals, the lowest quarterly deal count since 2005. The $7.58 billion invested in second quarter of 2007 was the second-highest quarterly totals recorded since the end of the dot-com boom in 2001.\n\nYet it's not all bad news because there was " steady deal activity and investment in the first half of the year," according to Dow Jones VentureSource director of global research Jessica Canning.\n\n"The movement of venture dollars from the traditional areas of information technology and health care toward burgeoning sectors like renewable energy, power management, and agriculture - or 'clean technology' areas - proves that venture capitalists are making good on their promise to tap opportunities in the massive energy market," said Ms. Canning.

"The transition to a more decentralised and intelligent energy system will continue in 2017, driven by the continued regulatory support for renewable energy in a number of key markets. The 3 Ds of energy are driving future investment - increased decentralisation, the need to decarbonise electricity generation, and digitisation to boost the sector's operational efficiency and open up new market opportunities. The highest growth rates will be for solar PV, with investment forecast to increase by 11.5% to €141.6 billion in 2017. China continues to be the largest market in terms of revenue investment, but the fastest growth will come from India, which will see double-digit growth in investment to 2020. New business models that incentivise smarter consumption patterns, and the growth of energy storage technologies, will increasingly reduce the need for peak capacity investment in mature energy markets."

"He concludes that standard macroeconomic factors alone (growth, interest rates, global growth, and global financial market volatility) fail to fully explain the recent investment deceleration. He further concludes that while the importance of structural factors in explaining the recent weakening of aggregate investment is not entirely clear, at the micro level, panel data analysis suggests that improving the business environment by reducing costs of doing business, deepening the financial system, and developing infrastructure, could stimulate corporate investment." The IMF's (2013a) recent staff report on India argues that several causes of weaker growth seem to be of a supply-side nature. The following key factors are listed as possible contributors to the recent investment slowdown: Rising policy uncertainty. In particular, high profile tax policy decisions announced in the 2012/13 Budget have reduced foreign investors' interest in India, while the increasing difficulty of obtaining land use and environmental permits have raised regulatory uncertainty for infrastructure and other large-scale projects. Delayed project approvals and implementation. As a reaction to high-profile governance scandals, project approvals, clearances, and implementation have slowed sharply. Supply bottlenecks are particularly pronounced in mining and power, with attendant consequences for the broader economy, especially manufacturing.

Earlier this week Google.org, the philanthropic arm of web technology company Google (Nasdaq: GOOG), announced its first two investments under its RechargeIT initiative, which aims to accelerate the adoption of plug-in electric vehicles. Google.org's official blog stated that RechargeIT, which released a request for proposals last Septmber, invested a combined $2.75 million into ActaCell, an Austin, Texas-based battery developer, and Aptera Motors, a Carlsbad, California-based electric car maker. In the blog posting Karl Sun, an investments principal Google.org, said, "Both of these innovative companies and their capable teams are working to develop technology that is crucial to helping us realize the RechargeIT vision: millions of plug-in vehicles on the road." The ActaCell investment was part of a larger Series A funding round that raised $5.8 million for the company, which began at the University of Texas at Austin. Funders included DFJ Mercury, Good Energies and Applied Ventures, the venture capital arm of Applied Materials (Nasdaq: AMAT).

Mainstream Renewable Power, a renewable energy company led by Airtricity founder Eddie O'Connor, has announced the successful closing of a €40 million [US $59.6 million] equity fundraising in which Barclays Capital have invested €20 million [US $29.8 million] for a 14.6% stake in the company. The board, management and staff of Mainstream, as well as close associates of the company, have invested an additional €20 million [US $29.8 million]. Together with the initial seed capital of €32 million [US $47.75 million], this brings the total equity raised to date to €72 million [US $107.43 million]. The company is also planning a major fundraiser later this year, with Barclays Capital committing to invest a further substantial amount at that stage. As part of the deal, Mark Brown, head of Barclays Capital Commodities Principal Investment team has been appointed to the board of Mainstream. The money will be used to fund the company's international expansion plans across Europe, North and South America and Australia and will be used to secure the supply of turbines to be delivered in 2009, 2010 and 2011. In June, Mainstream announced its plans to build an initial pipeline of 240 megawatts of projects in Chile with its partner Andes Energy.

The current growth in the local and international engineering, civils and construction markets is expected to continue despite the current volatility experi- enced in world economic markets, reports the South African Association of Consulting Engineers (Saace). Saace CEO Graham Pirie says that even though the local infrastructure roll-out programme and the infrastructure investments from emerging markets such as China were initiated before the period of global market volatility, infrastructure builds cannot be halted as they are vital to the economic growth of countries. "Government's commitment of R500-bil-lion, in addition to the money invested in the 2010 FIFA World Cup stadiums, to be spent over three years, means that 2010 is a small component of a larger investment that government is encouraging," says Pirie. He comments that the infrastructure roll-out programme is necessary, given the 20-year infrastructure investment backlog that South Africa needs to resolve. Pirie says that events hosted in the country since 1994 have encouraged infrastructure reinvestment. "Prior to 1994, South Africa didn't host sporting or political events that would draw an influx of tourists into the country, so the need for infrastructure reinvestment was minimal. "From 1994, with the 1995 rugby World Cup looming, government got serious about resolving this. Certain sporting events, such as the 1995 rugby World Cup, the 2003 cricket World Cup and the 2010 soccer World Cup, focus the right amount of attention on infras- tructure reinvestment at the right time," says Pirie

Paranapanema announced that it approved a capacity expansion and technology modernisation plan, supported by a positive macroeconomic outlook and favourable price trends for its products. The market will be boosted by Brazil's anticipated economic growth, and in particular by infrastructure, civil construction, electricity and green power projects. In addition, the 2014 World Cup and 2016 Olympic Games will provide further support. Paranapanema will increase its refined copper capacity at its Dias D'Avila unit from 230,000tpy to 280,000tpy in H1 2012. The company will also install a precious metal refining plant at the same unit, scheduled to be operational in H2 2012. Paranapanema's copper semis division, Eluma, will expand its cold rolling capacity from 28,000tpy to 55,000tpy. Furthermore, hot rolled products capacity will rise from 60,000tpy to 200,000tpy whilst tube capacity from 18,000tpy to 36,000tpy. Investment of the entire plan for 2011-13 will amount to 630 million reais (US$377 million).

"Brazilian copper products manufacturer Paranapanema's (Bovespa: PMAM3) board has approved an investment plan of 630mn reais (US$377mn) for the 2011-13 period."

SWCC Showa Holdings Co., Ltd, the Japan-based cable and systems manufacturer, announced plans to construct a copper wirerod plant in China during fiscal year 2012. The new factory, which will have an annual capacity of 60,000t, will be located in Tianjin. Investment is expected to reach RMB1.0B - RMB1.5B. In China, high-quality copper wire is in demand because it is used in winding wire assembling, primarily for automobiles. The company said it also plans to invest RMB1.5B in adding equipment to its factory in Zhejiang to double annual capacity there to 60,000t.

To improve streamlining and strengthen businesses in China, SWCC Showa Holdings is to increase capital investment by US$83.5M - an increase of around 60%y-o-y, the company said. Broken down, this will be an increase of around 75-80% for domestic investment and around 20-25% for overseas investment. Domestically the company said it will focus on streamlining to strengthen profitability; improving the productivity of electric wires for construction and electric power fields and replacing production lines for fibre optic cables. The overseas investment will be to increase the capacity for growth markets such as copper wire rods and industrial electric wires, the company said.

As the economy attempts to take off from the current position, the power sector holds the key to support rapid economic growth in the currently power starved country. This is likely to create significant investment opportunities in the power sector. Currently, there exists a major power crisis in the country. The scope to bridge the impending power demand-supply gap offers huge investment opportunities for both the multinational and domestic companies across the power industry value chain from generation to transmission and distribution and in distributed power generation including power rental sector

The China Electricity Council reported that power investment increased by 2.3% y-o-y in H1 2012, representing a significant slow-down after the 9.1% y-o-y rise seen in H1 2011. Investment in the power grid rose by 8.0% y-o-y, while power generation investment was down by 2.6% y-o-y.

Carrots are more appealing than sticks - and sometimes just as effective. That, at least, is the message that Europe's big telecoms operators have successfully delivered to European policy makers in Brussels. Late last week, Neelie Kroes, EU telecoms commissioner, backed down on her threat to make owners of old-style copper networks - the likes of France Telecom or Telefónica - lower the price at which they grant access to smaller rivals unless investment in high-speed fibre networks is stepped up. Instead, the Dutch politician, who estimates EU broadband investment needs at €270bn, promised regulatory "stability and consistency". True, she plans stricter rules to ensure equal access to networks. But for incumbent telcos, that is like being poked by a twig compared with the big baton of lower access charges.

ArcelorMittal (NYSE: MT), a steel manufacturer based in New Deli, launched a clean technology venture capital fund to support ventures that have relevance for the carbon-intensive steel industry. The Fund has made its first investment of US$20 million in Miasolé, a California-based pioneer in the development of thin-film solar panels Miasolé has developed unique high volume manufacturing processes that enable efficient production of Copper Indium Gallium Selenium (CIGS) solar products on a flexible stainless steel substrate. This technology promises to dramatically lowers the installed cost of Photovoltaic (PV) systems and will enable renewable energy from the sun to replace carbon generating fossil fuels. Fund managers will be working with leading venture capital firms, including Bessemer Venture Partners, Khosla Ventures, and Kleiner Perkins Caufield & Byers, to identify worthy cleantech ventures. ArcelorMittal also announced that it has created a new carbon fund in order to strategically engage in the carbon market and promote climate friendly solutions that are relevant for the steel industry. The fund, which has an initial investment commitment of €100 million (US$ 157 million) is currently looking at investment opportunities in renewable energy, energy efficiency, methane capture and greenhouse gas reducing technologies--all of which have the potential to generate carbon credits under the Kyoto Protocol. ArcelorMittal intends to use the carbon credits received from these Clean Development Mechanism and Joint Implementation projects for compliance in the EU Emissions Trading Scheme.

June 2008\nNA Copper Mail

Norddeutsche Affinerie AG (NA) said it is expecting at least EUR40 million of synergies each year from the takeover of Cumerio which was completed in March this year. The company said that it will benefit from the transfer of best practice between the two companies while cost savings mainly come from logistics and process optimization. NA also plans to increase production at its Cumerio smelters. The company expects further acquisition opportunities in Europe and in other parts of the world, including Asia. NA plans to expand its operations in southeastern Europe and the Black Sea region to capitalize on its strong economic growth before looking for growth opportunities outside Europe. In Bulgaria, the company currently expands copper cathode production capacity of its Pirdop smelter to 180,000 tonnes per year.

Norddeutsche Affinerie is to invest €62.5M to increase by 60% its copper scrap recycling capacity in Lünen, Germany by 2011. The investment will double the firm's capacity to process complex copper-bearing scrap such as shreddings, powders and electrical scrap to 140,000t/y, bringing total scrap recycling capacity up to 350,000t/y from 220,000t/y currently. The scrap will be processed into copper cathode. The investment will see the installation of a second smelting furnace, and a waste gas purification plant in Lünen. Norddeutsche's current secondary smelter in Lünen uses a range of scrap, whilst its Hamburg plant uses copper concentrate and a small percentage of high-grade scrap. Electronic scrap availability has increased in Europe as end-of-life regulations have been introduced for its disposal.

Furukawa Electric Co. Ltd. and Tohoku University Graduate School have jointly introduced a medical application made of copper alloy. This development refers to an apparatus that uses copper shape memory alloy and aims to correct ingrown nails. What the apparatus does is to insert an alloy plate at both sides of the nail correcting its curvature. Tohoku University is currently using the instrument on a pilot basis, however, Furukawa is planning to start selling it within this fiscal year. The company expects to sell a significant volume of the newly developed instrument as about 10 million people in Japan suffer from ingrown nails.

Furukawa Magnet Wire Co. Ltd., a subsidiary of Furukawa Electric Group, announced that it has expanded its facility in Malaysia. Production capacity of its TEX-E, trilayer insulated wire, which is principally used in rechargers for computers and mobile phones, has been doubled. The company expects that demand will increase in China and other emerging markets in the medium to long term. In addition, it was reported that Furukawa Electric increased its stake in Chongqing Changhua Automobile Harness Co. Ltd., the China-based wiring harness assembler, to 65% from its previously held 50% share.

Four major manufacturers of wire and cable are set to increase their level of capital investment in this fiscal year. The companies are expected to make large investments within emerging country markets, which promise growth over the medium to long term. Another area of investment is the field of smartphone components. Sumitomo Electric Industries Ltd., SWCC Showa Holdings Co. Ltd. and Furukawa Electric Co. Ltd. will expand capital investment "significantly", while Fujikura Ltd., will do so only "slightly".

Until November it was virtually impossible for a private developer of renewable energy power plants to become an independent power producer (IPP) in Mexico. Article 27 of the Mexican Constitution precluded private investment stating that electricity generation for public use is an activity to be undertaken exclusively by the Government. Mexico's enactment of a new law for the use of Renewable Energy and the Financing of the Energy Transition ( Ley para el Aprovechamiento de Energías Renovables y el Financiamiento de la Transición Energética ) substantially improves the legal framework for private investment in renewable energy projects. The law regulates renewable energy electricity generation for purposes other than providing public electricity services. The law states that the use of renewable energy for electricity generation is possible for private use and any excess energy can be sold, but only based on regulations and approvals by Mexico's energy regulatory body, CRE .

"The Industrial and Commercial Bank of China Ltd. (ICBC) plans to start a fund of up to $50 billion, to be managed by Brazil's state-owned bank Caixa Economica Federal, for investing in infrastructure projects in the South American country, according to a person familiar with the situation."

The U.S. Department of Energy (DOE) Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy John Mizroch announced recently that the DOE will invest up to US $24 million -- subject to the availability of funds -- to develop solar energy products that will hopefully accelerate the penetration of solar photovoltaic (PV) systems in the United States. \n\nWhen the projects are combined with the overall industry cost share of up to US $16 million, more than US $40 million in total could be invested in these SEGIS projects, with future federal funding subject to appropriations from Congress.\n\nThe Solar Energy Grid Integration Systems (SEGIS) projects will provide critical research and development (R&D) funding to develop less expensive, higher performing products to enhance the value of solar PV systems to homeowners and business owners. These projects are integral to the Solar America Initiative, which aims to make solar energy cost-competitive with conventional forms of electricity by 2015. \n

Although volatility in most assets is sharply lower than it was in November, oil price volatility has continued to climb. This rise in volatility, and resulting near $30-a-barrel oil price, is reflecting the same imbalances in the energy market that $147 oil did last summer: namely inadequate investment in basic infrastructure to produce, deliver, store and distribute energy. Last summer, attention focused on shortages in production capacity. However, present underlying shortages in storage and transportation are creating massive price distortions across the energy complex. Storage and transportation capacity provides the system with a buffer to supply-and-demand shocks by allowing it to run surpluses and deficits that smooth the normal cyclical swings in prices. As global storage capacity has failed to keep pace with growth in global demand over the past three decades, this buffer has shrunk relative to the size of the market, resulting in chronically higher than normal price volatility. Once infrastructure begins to constrain the ability of the market to run imbalances, prices have to create more of the adjustment process. Electricity markets are an extreme case of this. As power cannot be stored, supply must always equal demand, leaving price as the only mechanism to force the adjustment process. Accordingly, electricity is the most volatile of all assets. Due to inadequate infrastructure investment over the past several decades, oil is looking more like the electricity markets.