In the asset management industry, we cannot afford to bury our heads in the sand about AI. At the most basic level, it will transform some of the businesses we own and lead to new investment opportunities that we must be open to.
There has been much debate over the potentially negative impact of information overload on productivity, as opposed to the positive benefits from lower search costs.
Forecasting is more difficult than ever, given the rapid advances in technology. Before we anchor to today’s successes, we should bear in mind the lessons of history.
Switzerland has launched a campaign to discourage Nigerian immigration based on drama. Switzerland’s State Secretariat for Migration (SEM) is spending $450,000 on filming a TV series with African actors showing the perils of living in Europe illegally, which will be shown on Nigerian television.
Speaking to reporters, the spokesman for SEM, Lukas Rieder, said that one of the objectives of the series was to make clear that there are few chances of being granted asylum and the trip does not worth the dangerous crossing of the Mediterranean.”Human traffickers tell potential migrants that Switzerland is paradise, it’s El Dorado. But that’s not true. We want to provide objective information about the dangers of passage, and the dangers of living in Switzerland without a permit, for example.”
Solomon’s Knot is a double tie. For Robert D. Cooter and Hans-Bernard Schaefer, authors of the book by the same name and published by Princeton University Press, the knot is the one between law and economical growth in the developing countries.
According to them, only laws can create the right environment for these nations to prosper: an example would be obliging parties to respect contracts, while in many countries opening a new business is always a matter of long time and complex procedures. In Venezuela, according to the data reported by the authors, 141 days and 16 procedures are needed, versus the 5 days and 1 procedure in Canada.
Argentina wants to take the path of economic recovery as soon as possible. The head of the Agency for Investment and International Trade, Juan Procaccini, in announcing an International Forum, a sort of mini-Davos, to be held in Buenos Aires in September with the presence of around 800 companies, has revealed that the Mauricio Macri’s government aims to attract investments of about one hundred billion dollars over the next eight years to revive the country’s economy.
From 12 to 15 September over 1,500 local and international investors, entrepreneurs and political leaders will have the opportunity to explore investment opportunities that Argentina has to offer.
This morning the Swiss Consumer Price Index came out in line with the analysts’ expectations (0.1% vs 0.2% expected MoM and -0.4% vs -0.4% expected YoY). The figure is, in absolute value, very low and comparatively, it is located in the average of what we experienced since 2010. This does confirm what we explained with the Foreign Currency Reserves, which was the highest number ever for the SNB.
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