OpenFunds, the leading independent, partner-owned, Swiss fund placement agent, has entered into a collaboration with Anarosa Asset Management to distribute Anarosa Funds (Lux) – Gate of India (‘Gate of India Fund’), a Luxembourg SICAV UCITS V investing in Indian equities.
Grab, the ride-hailing company competing with Uber in Southeast Asia, has pulled in $2 billion of new financing from existing investors Didi Chuxing, the company that defeated Uber in China, and SoftBank.
The latest round of funding comes from Japan’s Softbank and China’s top ride-hailing firm Didi Chuxing. Grab said Monday that it expects another $500 million will come from other existing and new investors. Its last announced cash injection was in September when it raised $750 million led by Softbank, whose chief executive Masayoshi Son is Japan’s richest person and a self-styled tech visionary.
It is ironic that the fate of the US dollar depends on whether Saudi Arabia will continue to insist on accepting only US dollars for oil. The Free Thought Project had a good article by Jay Syrmopoulos on this subject on 16th July 2017, Russia and China Declare All Out War on US Petrodollar – Prepare for Exclusive Trade in Gold, which was picked up by Activist Post. It is the position of the US dollar as the main world reserve currency that has made it possible for the US to continue in its role as the global policeman or, as some would have it, the imperialist bully.
– The economy continues to decelerate gradually to a more sustained speed of around 5% in the medium term. It is expected to slow in Q2 17, but also to transform itself toward more consumption and services
– Beyond the growth objectives, the authorities are looking to curb financial excesses and to diversify in and outflows channels. State Owned Enterprises (SOE) restructuring remains the weak link of the current reforms
An important step was moved the last week towards the integration of the Chinese economy within the financial world. The index giant MSCI has finally decided to include, next year, 222 China mainland stocks to its emerging markets index. The proposal had been rejected three times in the recent years.
It’s a big decision since MSCI controls the benchmarks of the most heavily owned exchange-traded funds worldwide, an asset class that is more and more relevant in the global financial world.
Angola’s capital Luanda has overtaken Hong Kong to become the costliest city in the world for expats, Mercer’s annual survey said Wednesday.
According to Mercer’s 23rd annual Cost of Living Survey, Luanda was the costliest city, driven by cost of goods and security, followed by Hong Kong and Tokyo at the second and third places, respectively.
Others in the top 10 include Zurich at the 4th place, Singapore (5th), Seoul (6th), Geneva (7th), Shanghai (8th), New York City (9th), and Bern (10th).
Switzerland, Sweden, the Netherlands, the United States and the United Kingdom are the top five global innovative economies, according to the Global Innovation Index 2017, released today.
“Innovation Feeding the World” is the theme of the Global Innovation Index 2017 (GII 2017), the tenth edition of the index, which was presented today at a press briefing at the United Nations in Geneva. The Global Innovation Index 2017 (GII 2017) is co-published by the Cornell University, the European Institute for Business Administration (INSEAD) and the World Intellectual Property Organization.
Brazil has seen a recent boom in fintech with startups providing digital, low-interest banking solutions. These innovative alternatives are in turn causing big banks to reevaluate their own services. In Goldman Sachs’ latest report to the New York Times, Brazil’s fintech leaders are revolutionizing the traditional banking sector.
Entitled “Fintech Brazil’s Moment,” the 45-page research report estimates that the more than 200 financial technology companies in Brazil should generate a potential revenue pool of about $24 billion over the next 10 years. Payments, lending and personal finance are three promising segments, as is insurance, the report found.
