Dec. 28, 2020
A garment factory in Gazipur, Bangladesh. Manufacturing and exports are shrinking as forces in the global economy, so it can be hard to imagine what would power the next “growth miracles.”Credit.Shamsul Haider Badsha/Agence France-Presse Getty Images
After 2000, globalization and surging commodity prices astronomically boosted economic growth among nations with emerging economies. Over the next decade their share of the global economy nearly doubled, growing to 35 percent. By 2007, 107 of the 110 developing economies featured in the Penn World Table were catching up to the United States in average income, helping millions to escape poverty. The celebratory mood was captured in a popular phrase: “The rise of the rest.”
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NEW YORK/BUENOS AIRES (Reuters) - Argentina’s honeymoon with the International Monetary Fund is about to be tested as it looks to update a $57 billion agreement struck two years ago that failed to prevent a slide into recession and the country’s ninth sovereign default.
FILE PHOTO: IMF Managing Director Kristalina Georgieva and Argentina s Economy Minister Martin Guzman attend a conference hosted by the Vatican on economic solidarity, at the Vatican, February 5, 2020. REUTERS/Remo Casilli/File Photo
The IMF, often the target of angry protests in the streets of Buenos Aires, has looked to soften its tone with Argentina as the center-left Peronist government has restructured over $100 billion with private creditors this year.
Saudi’s $360bn sovereign wealth fund PIF rejigs top leadership
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The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending
December 23, 2020
Saudi Arabia’s sovereign wealth fund overhauled some of its top management as it prepares to take a greater role in the local economy.
The $360bn Public Investment Fund on Tuesday said that Fahad Alsaif, chief executive officer of the country’s National Debt Management Center and adviser to the finance minister, will become head of corporate finance and a member of its management committee.
In 2021, More Consolidation Awaits the Asset Management Industry
The asset management space could be ripe for more mergers and acquisitions activity in 2021.
“On Feb. 18, just a day before the S&P 500 Index set a pre-pandemic record, Franklin Resources Inc. announced a deal to acquire asset manager Legg Mason Inc. for almost $4.5 billion, a move that would bring its combined assets under management to $1.5 trillion,” reports Brian Chappatta for
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It took a few months, but more deals appeared later in 2020. While it doesn’t have immediate or direct implications for actively managed exchange traded funds, Morgan Stanley’s $7 billion acquisition of mutual fund manager Eaton Vance underscores the point that active management is still desirable on multiple fronts.
Building the silver economy: Why do we need to pay attention now?
Globally, the proportion of people over 65 years of age is expected to be 22 percent by 2050, according to estimates by the World Economic Forum. December 21, 2020 / 09:30 AM IST
The rapid growth in the senior population is transforming societies across the globe. At the same time, it is forcing both developing and developed markets to revisit their existing economic models to consider the financial and social needs of the ageing populations. Globally, the proportion of people over 65 years of age was 10 percent in 2012 but it is expected to jump to 22 percent by 2050, according to estimates by the World Economic Forum.