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Exxaro Resources, Eskom's biggest coal supplier, has become the latest company to offload thermal coal assets as pressure mounts for mining houses to reduce exposure to fossil fuels amid climate change concerns. ....
Why the rand is now the only emerging market currency winning against the dollar this year Business Insider SA facebook (Getty) The rand has reached its best level in weeks this week, and is currently the only major emerging market currency that has strengthened against the dollar this year. This is thanks in part to rallying commodity prices. But some investors have also had to reassess their very negative forecasts of South Africa s fiscal situation. For more articles, go to www.BusinessInsider.co.za. The rand has been firing on all cylinders in recent days, briefly dipping below R14.50/$ on Wednesday – its best level since February this year. It also traded below R20/pound. On Thursday morning it was trading at R14.56/$, R20.03/pound and R17.28/euro. ....
MONEYWEB app instead? Tebogo Naledi believes OMIG is now very well positioned to respond to client needs. By Patrick Cairns, Citywire 7 Apr 2021 14:31 Open: Old Mutual Investment Group MD, Tebogo Naledi. Image: Supplied When Old Mutual Equities and MacroSolutions announced their merger earlier this year, the number of boutiques within the Old Mutual Investment Group (OMIG) fell to three. This is apart from the four other businesses within Old Mutual Investments â Futuregrowth Asset Management, Marriott Investment Managers, Old Mutual Alternative Investments and Old Mutual Specialised Finance. Fourteen years ago, when Old Mutual Investment Group unveiled its new boutique model, there were 12 businesses in the group. Even more were added in subsequent years. ....
The evidence is now available about how severely emerging market investments have been hit by the market’s anxiety about inflation returning and central banks tightening the monetary policy reins earlier than expected – and it’s not a pretty sight. The latest Institute of International Finance data show that the scale of outflows approached those seen at the peak of the 2013 taper tantrum, with the biggest emerging market investment selloffs seen in emerging markets outside China, as shown in the graphs below. However, last week saw demand return for riskier assets brought on by US inflation data that held no surprises and increasingly optimistic expectations for global growth in the wake of the signing of the $1.9-trillion US fiscal package. ....
Opinion: The markets have since rallied on the back of that speech and sentiment has for the most part remained positive, at least for the country’s short-term prospects. ....