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China's top regulators ban crypto trading and mining, sending bitcoin tumbling
September 24, 2021--China intensifies crypto crackdown
Vows to root out "illegal" trading activity, bans mining
Bitcoin, smaller coins slump
China's most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.
Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out "illegal" cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.
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Source: reuters.com
IMF-Australia: Staff Concluding Statement of the 2021 Article IV Discussions
September 23, 2021--Following swift economic recovery from COVID-related lockdowns in 2020, new outbreaks set back economic activity in the near term, posing fresh challenges. Recent progress in the vaccination campaign offers a pathway out of lockdowns starting in the December quarter and will enable an ensuing economic recovery.
Supportive and well-coordinated fiscal and monetary policies soften the near-term economic impact and lay the foundation for post-lockdown recovery. Fiscal and monetary support should stay nimble amid very high uncertainty, and additional stimulus should be provided if downside risks materialize.
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Source: SEC.gov
Asia's Climate Emergency-Fiscal policy can help address climate change in Asia, the region hit hardest by global warming
September 21, 2021--Climate change is the defining challenge of our time, and the stakes are particularly high for the Asia-Pacific region. Temperatures are rising two times faster in Asia than the global average, which is associated with the increased frequency and severity of weather-related natural disasters.
In 2019 alone, India was buffeted by a severe heat wave that led to water scarcity in parts of the country. Torrential rains in South Asia caused large-scale population displacement, while water levels in the Mekong Delta fell to unprecedented lows due to intense dry weather. Australia faced historic bushfires fueled by a particularly harsh dry season. And more than 25 tropical cyclones wreaked damage on the Pacific and Indian Ocean coasts. Such climate hazards are projected to intensify in the period ahead.
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Source: IMF
AIX launches 2 ETNs based on its new AIX Qazaq Index
September 20, 2021--Astana International Exchange ("AIX", "Exchange") in cooperation with Halyk Finance JSC ("Halyk Finance") is pleased to announce the listing of two new exchange-traded notes linked to its brand-new AIX Qazaq Index (AIXQI):
Qazaq Equity Passive ETN-exchange traded note with a passive investment approach, investing substantially all its assets in Kazakhstani equities in weights determined by AIX Qazaq Index; and,
Qazaq Equity Active ETN-actively managed investment vehicle intended to outperform the AIXQI by taking the momentum and adopting an opportunistic approach.
Halyk Finance is acting as the Investment Manager for both ETNs, bringing its recognized experience in investment management and promoting ETNs among its extensive clientele.
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Source: Astana International Exchange
BetaShares Australian ETF Review-August 2021: The Equities Party Continues, as the Industry Reaches New Highs
September 15, 2021--The Australian ETF industry passed a significant new milestone in August and is now over $125B in funds under management, as the 'triple threat' of sharemarket gains, robust inflows and active ETF conversions led to rapid growth for the month.
Market cap
ASX Exchange Traded Product market cap: $125.1B1-all time end-of-month high
Market cap change for month: 5.3%, $6.3B
Market cap growth for the last 12 months: 76.9%, + $54.4B- fastest yearly growth ($ terms) on record
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Source: BetaShares
How to Tax in Asia's Digital Age
September 14, 2021-New global reforms will change where tech giants pay taxes in Asia and make the international tax system more robust.
Digitalization-the technology that powers fintech, e-commerce, and online services-enables us to make mobile money transfers, purchase goods and services online, and interact with people across the globe. It has created some of the largest global businesses, such as online platforms and marketplaces connecting producers and consumers across the world.
Asia alone has roughly two billion internet users, with considerable room to grow. Asia's advanced and emerging market economies have several locally headquartered tech giants-including Alibaba, JD.com, Tencent, Rakuten-and host foreign tech giants such as Facebook. A new set of agreed global tax reforms will change where these tech giants and other global giants pay taxes.
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Source: IMF
Taking the lead on climate action could be worth $11 trillion to India
September 13, 2021--Climate change is already impacting people's lives and livelihoods in India.
Left unchecked, people will be under even greater threat and the economy could lose $35 trillion by 2070, according to Deloitte.
But if India leads the way with climate action, it could gain $11 trillion in economic value.
India already produces advanced climate solutions, which it could export to the rest of the world.
India can lead the way on climate action and prosper, or do nothing and "impose steep economic costs"-as well as the continuing human and environmental cost-on the country, according to a new report.
Leaving climate change unchecked could cost India $35 trillion in lost economic potential over the next 50 years, finds the Deloitte Economics Institute in its report, India's turning point: How climate action can drive our economic future.
view the Deloitte Economics Institute report-India's turning point: How climate action can drive our economic future
Source: weforum.org
Chinese cross-listing fund shines light on surging demand
September 13, 2021--ETF listings on the mainland and Hong Kong accelerate from low base
Hong Kong's products invest directly in equivalent products listed on the Shanghai Stock Exchange and utilize the so-called "cross-list" construction to spend money on shares associated to China’s photovoltaic sector-which focuses on the conversion of sunshine to vitality.
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Source: FT.com
Chinese government summons gaming firms, says it will crack down on ride-hailing
September 9, 2021--Tech giants Tencent, NetEase urged to implement new gaming rules
Govt also targets ride-hailing in sweeping regulatory crackdown
Cyberspace body shuts, bans almost 1,800 'self-media' accounts
China's government on Wednesday summoned gaming firms including Tencent Holdings Ltd (0700.HK) and NetEase Inc (9999.HK) to ensure they implement new rules for the sector.
It also said it would crack down on illegal behaviour in the ride-hailing industry.
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Source: reuters.com
BlackRock raises $1bn for first foreign-run China mutual fund
September 8, 2021--Asset manager presses ahead with expansion into savings market despite concerns over Beijing's tech crackdown.
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Source: ft.com
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