More transparency for Africa, please
How can governments reduce corruption in Africa, one of the biggest deterrents to investment in the resource-rich continent? One way is to copy recent legislation in the United States, according to speakers and delegates at a recent forum in London organised by the Foreign Policy Centre thinktank, and force listed companies to report any payments they make to foreign governments for the extraction of oil, gas and minerals.
The Cardin-Lugar amendment, introduced by the U.S. in July, is designed to help alleviate the curse of oil corruption.
Analysis: Inflation from QE2 may rein in frontier markets
LONDON (Reuters) – The world’s least developed frontier markets could fall off an emerging markets bandwagon as a second bout of U.S. money-printing risks fuelling inflation that may be more damaging to their economies than most.
The larger emerging markets are bracing for a new wave of yield-seeking cash after the U.S. Federal Reserve said earlier this month it would spend $600 billion buying bonds in a second wave of quantitative easing (QE).
Conferences head for a bubble
Never mind Chinese property prices, the world appears to be heading for a bubble in conference attendance. Alongside the big meetings that are happening just now — the IMF and G7 meetings in Washington last weekend, and the G20 financial leaders’ meeting in South Korea next week, countries and bankers are flocking to London to show off their wares, particularly in emerging markets.
Abu Dhabi, Kazakhstan and Albania are among countries holding investment forums next week alone, just ahead of or coinciding with the G20 meeting.
Dollar plunges, world stocks up on Singapore move
NEW YORK/LONDON (Reuters) – The U.S. dollar index hit the year’s low and world stocks were higher on Thursday after Singapore let its currency strengthen, spurring gains in most major currencies against the struggling greenback.
The Australian dollar, which boasts the highest yield among major currencies, soared to a 28-year high at $0.9994 and poised to near parity.
Dollar plunges,stocks up on Singapore move
NEW YORK/LONDON, Oct 14 (Reuters) – The U.S. dollar index
hit the year’s low and world stocks were higher on Thursday
after Singapore let its currency strengthen, spurring gains in
most major currencies against the struggling greenback.
The Australian dollar, which boasts the highest yield among
major currencies, soared to a 28-year high at $0.9994 AUD=D4
and poised to near parity.
Dollar falls, world stocks at 2-yr high on S’pore move
LONDON (Reuters) – The U.S. dollar hit a 10-month low and world stocks hit 2-year highs on Thursday after Singapore let its currency strengthen with investors seeing easier U.S. monetary policy driving a flight to high-yielding assets.
Emerging market and other riskier assets are receiving a wave of investment ahead of an expected second round of quantitative easing — money-printing — by the U.S. Federal Reserve.
Dollar falls, stocks at 2-yr high on S’pore move
LONDON, Oct 14 (Reuters) – The U.S. dollar hit a 10-month
low and world stocks hit 2-year highs on Thursday after
Singapore let its currency strengthen with investors seeing
easier U.S. monetary policy driving a flight to high-yielding
assets.
Emerging market and other riskier assets are receiving a
wave of investment ahead of an expected second round of
quantitative easing — money-printing — by the U.S. Federal
Reserve.
Dubai’s DEWA to issue bonds, Moody’s ups outlook
LONDON/DUBAI, Oct 13 (Reuters) – State-owned Dubai
Electricity and Water Authority [DEWATF.UL] will launch a
two-tranche dollar bond, a source at one of the lead managers
said, while Moody’s on Wednesday raised outlook for the utility.
DEWA’s new six- and 10-year bonds are its second issue this
year and follow last month’s offering of the parent Dubai
emirate. Analysts expect solid demand as short-term debt
concerns eased and investors favour risky assets globally.
Frontier investors seek lift from wealth funds
LONDON (Reuters) – Investors are eyeing a new crop of sovereign wealth funds they hope will manage revenues in frontier economies more efficiently, avoiding past pitfalls of high costs and corruption and boosting inflows and country ratings.
At least nine frontier market countries in Africa, the Middle East and Asia, from Angola to Bangladesh to Nigeria, are looking at the possibility of setting up a sovereign wealth fund.
Analysis: Frontier investors seek lift from wealth funds
LONDON (Reuters) – Investors are eyeing a new crop of sovereign wealth funds they hope will manage revenues in frontier economies more efficiently, avoiding past pitfalls of high costs and corruption and boosting inflows and country ratings.
At least nine frontier market countries in Africa, the Middle East and Asia, from Angola to Bangladesh to Nigeria, are looking at the possibility of setting up a sovereign wealth fund.
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