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Super Calls Out Hasbro To Level Financial Playing Field and Showcase “The Game of REAL Life”

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News provided by

Super

Nov 30, 2022, 19:21 ET

The release of re-written rules of The Game of Life comes with a chance to win $50,000 to help with the cost of weddings, mortgages, student loans, childcare, or vehicles

SAN FRANCISCO, Nov. 30, 2022 /PRNewswire/ — Super, the fintech company with modern money in mind, just launched The Game Of REAL Life, a rewritten rulebook to Hasbro’s classic board game to highlight the financial realities Americans are currently facing. To celebrate the launch and sweeten life for some lucky folks this Thanksgiving season, Super is encouraging consumers to rip up Hasbro’s original Game of Life rulebook for a chance to win. Super is giving away $50,000 to 2,000 lucky people who take home between $10 and $10,000 cash to be used for weddings, mortgages, student loans, childcare or a vehicle – steadily increasing costs that the antiquated rules of the original The Game of Life got all wrong.

“More than 55% of Americans are uneasy with their level of emergency savings, so it’s unlikely that we all start off life with $200,000 in the bank, as the game suggests. To emphasize how unrealistic this expectation is, we’re making a statement by rewriting the rules and helping some lucky winners get a headstart in their REAL life this holiday season,” says Radhika Duggal, Chief Strategy Officer at Super.

The Original Rules Are Rigged, So Super Rewrote Them

In 2022, people are screaming for student loan forgiveness, scraping their savings to get married, facing housing prices that are skyrocketing, struggling to afford childcare and wondering how they are going to buy a car. For over 80 years, families have gathered around the table for an innocent evening playing The Game of Life; and for over 80 years, kids were misled by the original rules, being taught they would start adulthood with no debt, a car, and unrealistic notions of what a college degree could afford them. To better reflect reality, Super fact checked and re-wrote the rulebook to reflect what’s actually going on with Americans’ money in 2022. Find the re-written rules here: The Game of REAL Life.

How to Enter

In protest of the game that set unrealistic expectations about real life, Super is giving Americans a chance to actually live it. To enter to win, rip up rules to The Game of Life and visit super.com/game-of-life-sweeps starting November 30th to win one of three $10,000 grand prizes or 2,000 smaller prizes. Winners will have the opportunity to take their winnings and put them towards real life situations reflected in the game, including weddings, student loans, mortgage/rent payments, childcare or car down payments. Entries to the sweepstakes will close on Wednesday, December 7 at 11:59pm ET.

About Super

Super is the technology company at the intersection of fintech and commerce that empowers users to spend less, save more, and build credit – so they can experience more of what life has to offer. Super is home to the best prices on everything from discounted everyday items to great hotel deals – as well as the hub that enables cashback and credit building on every transaction. Super’s product offerings include SuperCash, SuperTravel (formerly SnapTravel) and SuperShop (formerly SnapShop). Super is trusted by over 5 million customers worldwide and has helped them save over $145M to date. Super is backed by Steph Curry and has raised over $100MM USD and surpassed $1B in sales.

CONTACT: Nicole Beck, press@super.com

SOURCE Super

https://www.prnewswire.com/news-releases/super-calls-out-hasbro-to-level-financial-playing-field-and-showcase-the-game-of-real-life-301690877.html

Lithuanian unicorns: an insatiable hunger to prove their talent drives Lithuanian startups’ growth

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News provided by

Startup Lithuania

Nov 28, 2022, 19:00 ET

VILNIUS, Lithuania, Nov. 28, 2022 /PRNewswire/ — Smashing its records year by year, Lithuania’s startup ecosystem has proved that there’re no limits to growth. According to Dealroom.co, over the last five years, it has accelerated 16,6 times and is now valued at 10 billion EUR, placing Lithuania as a leader in the CEE region. Tom Okman (Nord Security) and Milda Mitkute (Vinted) – two Lithuanian unicorn founders, say that talents, community, global focus, flexibility, and rising investment inflows are the base of a strong country’s startup ecosystem.

“Our talent pool can successfully compete with professionals from any Fortune 500 company. Their hard work and forward-thinking are gaining valuation – we see increasing interest from foreign investors who find Lithuania’s startup ecosystem a perspective platform for investments and business development”, says Tom Okman, co-founder of cybersecurity solutions unicorn Nord Security. He adds that in contrast to other, more established startup ecosystems, Lithuanian specialists have an insatiable hunger to prove their talent. This kind of employee enthusiasm can sometimes be a key success factor in the race against competitors in a startup’s business sector.

According to the Lithuanian startups’ database by Unicorns.lt and Startup Lithuania, there are 16 000 talents in active Lithuanian startups. This open and willing-to-cooperate community is one of the main reasons for the fast ecosystem’s growth, emphasizes T. Okman.

“We have a robust culture of partnership and networking and willing-to-cooperate startup community,” – says T. Okman, – “it allows new startups to gain knowledge or make hard-to-find connections quickly. The bond of our startup community is powerful and lasting – by helping each other to accelerate, we help the ecosystem itself, and it’s a win-win situation.”

Milda Mitkute, the co-founder of Vinted, another Lithuanian unicorn, says that over the last 15 years, the startup ecosystem in Lithuania has changed a lot: it has gone from zero to a mature environment that has funding sources, an open startup community, comfortable infrastructure.

“Lithuanians have a small market syndrome in a good way. Traditional businesses often think only about the Lithuanian market, while startups’ default thinking is about ideas focused on the global market. This is our country’s strength”, says M. Mitkute.

She also says that Lithuanian startup founders are flexible and brave – they are not afraid to experiment. They are open-minded, listen to feedback, and take advantage of the advice they receive. “The founders probably acquired these qualities because they traveled extensively worldwide after the fall of the USSR. Everyone was passionate about learning about other cultures and their values. Traveling has also shaped people’s worldview and work discipline, which is flexible and open.”

Roberta Rudokiene, Head of Startup Lithuania, adds that Lithuania is rich in investors, business accelerators, government agencies, and technical endeavors. These elements assist the startup community in generating and implementing new ideas. “Of course, we have many other advantages, such as developed infrastructure, highly green cities, harmonious cooperation between businesses, government agencies, strong and active venture capital funds, and Lithuanian Business Angel Network LITBAN. It is also important that the Lithuanian government has its focus on the startup ecosystem in our country – the government will allocate more than 100 million euros for startups in 2023-2027″, R. Rudokiene adds.

Successful startups bring investment, competitive salaries for local talents, foreign attention, and confidence in the local market. All this is especially relevant at this time. In 2021, despite economic uncertainty, Lithuanian startups faced record-breaking years. Their agility and resilience to unpredictability let them attract 2,2 times more investments (around 430 million EUR) than previous record years and grew revenue and export by more than 30 percent.

About Startup Lithuania

Startup Lithuania, the national startup ecosystem facilitator, is powered by Innovation Agency Lithuania, a non-profit agency under the Ministry of Economy and Innovation of the Republic of Lithuania, established to promote entrepreneurship, support business development, and foster export.

Startup Lithuania collects data about Lithuanian startups, consults startup founders, administrates online pre-acceleration program Startup Guide and Startup Visa Lithuania, and organizes different events and workshops, including the main international startupsʼ event in Lithuania – Startup Fair.

The Innovation Agency Lithuania was officially launched by the Lithuanian Ministry of Economy and Innovation in April 2022. The agency is responsible for the Lithuanian innovation ecosystem and the promotion of innovation at all stages of business development – from developing ideas to delivering products to end users.

The Innovation Agency Lithuania merges Enterprise Lithuania and the Lithuanian Business Support Agency. It consolidates the functions of promoting innovative activities performed by the Agency for Science, Innovation, and Technology. The agency administers a range of innovation, digitalization, and other business support measures with a total value over the next few years of more than EUR 500 million.

Free photos for your usage: https://lithuania.lt/brand-toolkit/assets/photos/

SOURCE Startup Lithuania

https://www.prnewswire.com/news-releases/lithuanian-unicorns-an-insatiable-hunger-to-prove-their-talent-drives-lithuanian-startups-growth-301688315.html

Finastra cements commitment to growth in Asia Pacific with Center of Excellence in Kuala Lumpur

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News provided by

Finastra

Nov 27, 2022, 20:00 ET

New strategic space at MRANTI Park will help Finastra expand its footprint, further contribute to the local economy and promote STEAM careers in a region dedicated to innovation

KUALA LUMPUR, Malaysia and SINGAPORE, Nov. 28, 2022 /PRNewswire/ — Finastra today announced a new Center of Excellence (COE) at Malaysia’s MRANTI Technology Park in Bukit Jalil, Kuala Lumpur. MRANTI Park is a hub for technology innovation, commercial adoption, and scientific excellence. It is an ideal location for Finastra to expand its Asia Pacific footprint, further, contribute to the local economy, and promote Science, Technology, Engineering, the Arts, and Mathematics (STEAM) careers in a region dedicated to innovation.

Finastra will benefit from MRANTI’s integrated infrastructure and services. It will be able to tap into local IT talent, including from nearby universities and the growing start-up technology community there. The new COE will champion Finastra’s Lending, Universal Banking, Payments and Treasury & Capital Markets software solutions across the region.

With its FusionFabric.cloud open development platform, Finastra will continue to support innovation for its financial institution customers around the world, connecting fintechs – including those in Malaysia – to its core solutions. The new space will also embrace sustainability and contribute to the circular economy, being a low carbon development that uses renewable energy, aims to recycle all waste and conserves water through rain harvesting. Moreover, Finastra brings its ESG philosophy around unlocking the potential of people, business and communities.

Simon Paris, CEO at Finastra said, “Growth in Asia Pacific is one of our company’s key strategic commitments and opening a Center of Excellence in Kuala Lumpur is an important milestone to help us achieve this goal. This site is a hub for technology innovation and MRANTI’s desire to act as a connector, incubator, and catalyst to transform ideas from early-stage ideation to impact complements our collaborative mantra to drive innovation and technology acceleration around digital trade, digital finance and acceleration to cloud, in line with Government initiatives around digitalization there. It is also a testament to our highly valued Malaysian banking and financial services customers.”

Dzuleira Abu Bakar, Chief Executive Officer of MRANTI said, “Through our recently launched MRANTI Park Master Plan, we seek to inspire the world with a bold new model that accelerates ideas to impact by combining our developmental expertise with tech infrastructure and services for the creation, development and commercialization of technology and innovation. We are excited that a leading fintech company like Finastra is joining our growing community and look forward to supporting local tech innovation to transform our nation’s technology landscape.”

The move is supported by Finastra’s investor, Vista Equity Partners, a leading global investment firm focused on enterprise software that has over a dozen companies active in Malaysia. Robert F. Smith, Founder, Chairman and CEO, Vista Equity Partners said, “I’m honored by the long-standing commitment of our Malaysian investing partners and enterprise software customers, and the positive impact they’re enabling in the country. We’re delighted to grow our engagement with direct investment through this Finastra Center of Excellence in partnership with MRANTI, and are excited about further developing local IT talent and increasing opportunities for even more Malaysians.”

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks. For more information, visit finastra.com.

Logo: https://mma.prnewswire.com/media/1916021/FINASTRA_Logo.jpg

SOURCE Finastra

https://www.prnewswire.com/news-releases/finastra-cements-commitment-to-growth-in-asia-pacific-with-center-of-excellence-in-kuala-lumpur-301687118.html

ACCORDING TO OPINIUM INSURERS INFLATE TRAVEL COVER COSTS BY £242 FOR DISABLED PEOPLE

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News provided by

Valuable 500

Nov 27, 2022, 19:01 ET

  • New research from the Valuable 500 reveals that disabled travellers are paying £242 more than non-disabled travellers for travel insurance
  • Findings also reveal that a fifth of disabled travellers felt unsafe whilst travelling

LONDON, Nov. 28, 2022 /PRNewswire/ — New research shows that disabled tourists are paying £242 more than non-disabled customers for travel insurance cover to go on holiday, a significant premium compared to those without disabilities.

The findings come at a time when the cost-of-living crisis is placing undue pressure on those with disabilities, who already face significant additional costs in their day-to-day lives.

The research also looked at the other barriers disabled tourists face whilst travelling, including time inequity, digital accessibility, a lack of disabled representation, lack of inclusive design, and lack of knowledge of disability and how to meet the needs of customers with disabilities.

Two in five disabled people face stressful and unsafe situations when travelling due to lack of accessibility. One fifth of disabled people reported feeling unsafe and scared when travelling and one in ten were not able to access a toilet.

As a consequence, feelings of embarrassment, isolation and being disregarded were also felt by a quarter of the respondents that were surveyed, and nearly a quarter (23%) felt ignored.

The Valuable 500 is the largest global collective of CEOs committed to disability inclusion. High profile members include Expedia, Airbnb, Heathrow Airport, and British Airways.

The business collective has produced a 7-point manifesto that each travel industry provider should abide by to ensure best practice. Please register interest to sign up: travelmanifesto@thevaluable500.com

The full report is here.

Caroline Casey, Founder, Valuable 500 commented: This research adds to a burgeoning list of discriminations that people with disabilities face day in, day out. When a hotel, restaurant or transport provider is inaccessible you’re leaving a proportion of business on the table. 

The global spending power of people with disabilities is estimated to be $13 trillion annually, so the business case for the travel industry to put accessibility first, and not as an afterthought is absolutely imperative. This can be rectified by putting disabled staff and consumers at the heart of the travel business. 

Kathy Martinez, VP for Global Disability Inclusion, Expedia:

“Travel strengthens connections and broadens horizons, yet historic, physical and societal barriers often limit equitable access to travel. Disability is a natural part of the human condition. Everyone should have the right to travel, no matter their ability. Expedia Group is committed to creating a more open world and lessening equity gaps. By collaborating with our vast network of partners on resources like our Lodging Accessibility Guide, we are able to share best practices and work together towards a collective goal to ensure travellers with disabilities are valued and included.” 

Notes to Editors

Research based sample of 1000 UK based disabled travellers conducted via Opinium, from 29th August – 10th September 2022.

Find out more about the Valuable 500 here

SOURCE Valuable 500

https://www.prnewswire.com/news-releases/according-to-opinium-insurers-inflate-travel-cover-costs-by-242-for-disabled-people-301687277.html

GlobeTopper and Knox Wire Announce $50 Million Global Payment Partnership

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News provided by

GlobeTopper

Nov 26, 2022, 16:19 ET

GlobeTopper and Knox Wire announce global payment partnership. The collaboration will power payout capabilities world-wide.

HOUSTON, Nov. 26, 2022 /PRNewswire/ — (PRUnderground)

GlobeTopper and Knox Wire announce global payment partnership. The collaboration will power payout capabilities world-wide.

GlobeTopper is an award-winning prepaid B2B gift card concierge firm that helps clients navigate the ever evolving digital payments landscape.

They help their clients grow their businesses by providing them API access to an extensive and evolving catalog that includes brands from across the globe and a broad range of verticals.

Knox Wire is the ideal option to process payments to nearly 30,000 financial institutions across 190 countries. Knox Wire’s real-time gross settlement system keeps track of the progress of every transaction in real-time, ensuring rapid payments and information exchange across a global market.

The partnership, orchestrated by Zed Network, will facilitate same day payouts in 190+ countries for GlobeTopper.  GlobeTopper will also utilize Knox Wire’s payout system and FX services to add new providers and expand available products.

Knox Wire’s Chief Executive Officer, Stephen McCullah, says: “The partnership between Knox Wire and GlobeTopper is an exciting opportunity to allow both companies to provide better financial services globally in a dynamic digital payments environment.”

About GlobeTopper

GlobeTopper seeks to assist clients in maximizing their value in the digital economy. By accepting currencies such as USD, EUR, GBP, and CAD, GlobeTopper is proud to be a forerunner in the future of digital payments. Bearing the timeous nature of payments in mind, GlobeTopper can ensure that services run seamlessly.

Contact: info@globetopper.com

Website: globetopper.com

Contact:

Josh Hutchison – PR Manager

press@knoxwire.com

Website: knoxwire.com

About Zed Network

Based in Toronto, Canada, Zed is a global payments technology platform that connects MSBs, MTOs, PSPs, neobanks and fintech companies to cross border payment options using banks, blockchain, mobile wallets and cash networks.

Media contact

PR@zed.network

Website: www.zed.network

About Knox Wire

Knox Wire is a cross-border payment system combining the financial messaging capabilities of Swift, with the real-time gross settlement capabilities of the most powerful RTGS systems.

Press Contact

Josh Hutchison
+27617217112

SOURCE GlobeTopper

https://www.prnewswire.com/news-releases/globetopper-and-knox-wire-announce-50-million-global-payment-partnership-301687440.html

The American Carbon Registry (ACR) has partnered with AirCarbon Exchange (ACX) to offer ERT on the Exchange

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News provided by

AirCarbon Exchange

Nov 21, 2022, 20:35 ET

ABU DHABI, UAE, LONDON and SINGAPORE, Nov. 22, 2022 /PRNewswire/ — AirCarbon Exchange (ACX), the global exchange revolutionizing the Voluntary Carbon Market (VCM), is pleased to announce a partnership with the American Carbon Registry (ACR), a nonprofit enterprise of Winrock International and a leading carbon offset registry program, to offer Emission Reduction Tons (ERTs) on the ACX Platform.

Through this partnership, ACR Account Holders can offer ERTs on ACX’s Auctions platform and also facilitate back-to-back Over-the-Counter (OTC) transactions through ACX. The partnership allows for ACX Members who do not have ACR Account to access ERTs for their carbon asset management. At the same time, this partnership offers ACR Account Holders more opportunities to reach new clients and routes to sell ERTs through the direct link to ACX’s international member list of over 150 members.

Lauren Nichols, ACR Managing Director said, “ACR is excited to link with ACX to expand market access to ERTs as voluntary carbon market demand continues to grow. We are pleased to facilitate the opportunity for ACR Account Holders to offer and transact their credits with a wider range of market participants via the ACX platform.”

William Pazos, Managing Director and Co-Founder of ACX said, “We are pleased to announce the partnership with ACR and create a direct connection between ACR Account Holders and ACX Members. We look forward to working closely with the ACR team to broaden the carbon offerings available to ACR and ACX members in the future to enable broader carbon market participation.”

To learn more about ACX, please visit www.aircarbon.co or follow us on LinkedIn.

About AirCarbon Exchange (ACX):

AirCarbon Exchange (“ACX”) is a global exchange revolutionizing the voluntary carbon market. The Exchange’s client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its participants with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest transaction fees available on the market. Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.

ACX was recognized as the Best Carbon Exchange globally in Environmental Finance’s prestigious Voluntary Carbon Market Rankings, the largest and most closely watched survey of the world’s Voluntary Carbon Market, for two consecutive years (2021, 2022). ACX was also named as the ‘Best Solution in Energy Trading’ by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are ‘Winning the Race to Reinvent Energy’.

For more information or to trade carbon, please reach out to info@AirCarbon.co or visit www.aircarbon.co

SOURCE AirCarbon Exchange

https://www.prnewswire.com/news-releases/the-american-carbon-registry-acr-has-partnered-with-aircarbon-exchange-acx-to-offer-ert-on-the-exchange-301684455.html

ESR’s ARA announces milestone partnership with the Export-Import Bank of China for US$1 billion infrastructure fund

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News provided by

ESR Group Limited

Nov 21, 2022, 02:22 ET

  • China ASEAN Investment Cooperation Fund II is the largest ASEAN-focused private infrastructure fund and this represents ESR Group‘s first infrastructure fund
  • Fund will invest in infrastructure, energy resources including renewables, and information and communications (“ICT”) sub-sectors, with a strong focus on sustainability and ESG standards

SINGAPORE and HONG KONG, Nov. 21, 2022 /PRNewswire/ — ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), Asia-Pacific (“APAC”)’s largest real asset manager powered by the New Economy, today announced its wholly-owned subsidiary, ARA, has entered into a milestone partnership with the Export–Import Bank of China for the closing of a US$1 billion infrastructure fund – China-ASEAN Investment Cooperation Fund[1] II (“CAF II”). ARA Private Fund’s infrastructure arm, ARA Infrastructure, has also been appointed as investment adviser by the Export–Import Bank of China, the main anchor sponsor of the fund. This follows Chinese Premier Li Keqiang’s speech at the 25th China-ASEAN Summit highlighting the support of major infrastructure and energy projects in ASEAN.[2]

The Export-Import Bank of China, Gezhouba Group Overseas Investment Corporation, China Road & Bridge Corporation and ARA have together committed US$1 billion to CAF II. The fund will invest in ASEAN countries across various infrastructure, energy resources including renewables, and ICT sub-sectors, with a strong focus on sustainability and ESG standards.

Jeffrey Shen and Stuart Gibson, ESR Co-founders and Co-CEOs, said: “We are very proud of our ARA Infrastructure team for setting up the largest ASEAN-focused private infrastructure fund. We thank our partners and investors for their support and recognition of our Group’s sterling fund management expertise and track record as APAC’s largest real asset manager. Our move into the infrastructure and renewables business further strengthens our competitive edge as a fully integrated one-stop solution for our capital partners and customers. We are confident that the infrastructure fund is well-positioned to benefit from robust long-term macroeconomic trends in ASEAN including rising incomes, rapid urbanisation and favourable demographics. Alongside the focus on post-COVID economic recovery and growth, and various government investor-friendly policies to encourage infrastructure investment, the fund will contribute significantly to economic expansion and job creation across the region.”

Chen Bin, Vice President of the Export-Import Bank of China, said, “I’m very glad to see that with the strong support of government departments and the joint efforts of respective LPs, CAF II is now set up. Dedicated to supporting the foreign trade sector, the Export-Import Bank of China takes ASEAN countries as key areas for business development. We have established business ties with ASEAN countries for more than 20 years and financed more than 200 projects in such sectors as power, transportation, water conservancy and industrial production. We hope CAF II can help enhance connectivity, trade and investment cooperation between China and ASEAN countries, so as to contribute to the economic cooperation and trade in the region.”

According to the Asian Development Bank (ADB), developing Asia will require more than US$26 trillion of investments between 2016 to 2030 (US$1.7 trillion per year) in infrastructure to support economic growth, raise living standards and mitigate climate change impacts[3]. Of these funds, USD$14.7 trillion (56% of the total) will be needed for the transition of the energy sector to more renewable and efficient sources. However, there remains a funding gap of US$459 billion per year in the region.

Moses Song, ARA CEO, said: “We are excited to have expanded into a new asset class and we have established a specialist infrastructure and renewables team, leveraging the resources across the Group, to steer the business as we continue to accelerate our growth in size, scale and offerings. With the fund’s focus on essential infrastructure and renewable assets, we are delighted to play a part in helping to build connectivity, economic, trade and investment cooperation in ASEAN, and to bridge any funding gap. In line with our focus on ESG, the fund will also adopt best-in-class sustainability practices and ESG standards to support the region’s energy transition and climate action.”

The resilience of infrastructure assets during times of economic downturn has greatly raised the attractiveness of the asset class among investors. According to a 2021 Preqin survey, 47% of global investors intend to increase their long-term allocation to the asset class[4]. Assets under management (AUM) for the sector is projected to grow at a rate of 16.6% CAGR from US$86 billion to US$1.87 trillion between 2021 to 2026, overtaking real estate to become the largest real asset class.

[1] Mainly sponsored by the Export-Import Bank of China, CAF I invested in such sectors as infrastructure, energy resources and ICT, and provided capital support for outstanding enterprises in China and ASEAN countries.

[2] Speech by H.E. Li Keqiang Premier of the State Council of the People’s Republic of China at the 25th China-ASEAN Summit, 11 November 2022 (https://www.fmprc.gov.cn/mfa_eng/zxxx_662805/202211/t20221112_10973135.html)

[3] Meeting Asia’s Infrastructure Needs, ADB, 2017

[4] Global Infrastructure Report, Preqin, 2022

About ESR

ESR is APAC‘s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With over US$140 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allows capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index.

For more information on ESR, please visit www.esr.com.

About the Export–Import Bank of China

Founded in 1994, the Export-Import Bank of China (hereinafter referred to as the Bank) is a state-funded and state-owned policy bank with the status of an independent legal entity. It is a bank under the direct leadership of the State Council and dedicated to supporting China’s foreign trade, investment and international economic cooperation. Its financial support mainly goes to foreign trade, cross-border investment, the Belt and Road Initiative, international industrial capacity and equipment manufacturing cooperation, the “going global” endeavors of science and technology, cultural industries as well as SMEs, and the building of an open economy.

For more information on the Export-Import Bank of China, please visit www.eximbank.gov.cn/.

SOURCE ESR Group Limited

https://www.prnewswire.com/news-releases/esrs-ara-announces-milestone-partnership-with-the-exportimport-bank-of-china-for-us1-billion-infrastructure-fund-301683604.html

Cleveland Federal Reserve President Loretta Mester higher rates are likely later this year

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Original Source Cleveland Federal Reserve:

According to the words of Cleveland Federal Reserve President, Loretta Mester, on Tuesday, there is a need for the United States Federal Reserve to increase the interest rates in 2019 but raised concerns that it could lead to an end of its concerted efforts to reduce its significant bond portfolio before the end of the year.

For instance, the comments from Ms. Mester exhibit the complication of the United States central bank’s attempts to create new standards for the formulation of monetary policy at a period when the economic perspective looks gloomy.

As an advocate of increased interest rates, Ms. Mester also supported the decision of the Fed in the previous month to eliminate guidance in its policy statement on the next move of the agency if it will lead to a decrease or increase in interest rates. She also confirmed that the elimination of the rate guidance from the Fed’s policy statement is a movement of the Fed to what she termed as a “normal” policy.

However, she is hopeful that the economy will maintain its stable outlook irrespective of the hazards to its development such as a global economic slowdown and the prevalent trade negotiations between China and the United States of America. In an interview with reporters in Newark, Delaware, Ms. Mester said there is a likelihood that the interest rates will be slightly increased in the latter part of this year.

She also maintained that she hopes that the Fed could put an end to its process of pruning its bond holdings by the end of the year 2019.

In the wake of 2007-09 recessions, the balance sheet of the Fed increased to more than $4 trillion, and this led to policymakers to start the process of lowering bond holdings in the concluding months of 2017.

According to some financial market analysts, the reduction of the balance sheet is responsible for the contraction of monetary policy and Ms. Mester confirmed that the procedure is partly the reason for a rising pressure on longer-term interest rates.

Ms. Mester does not believe in the fact that eliminating the balance sheet reduction procedure will improve the fortunes of the economy. In her words, she said that she does not think the balance sheet would have a significant effect on the economy. In this year’s meeting of the Fed committee that set policies, Mester does not have a vote irrespective of the fact that she is a participant in the discussions of the central bank.

Mester held on to her opinion that she would love the Fed to keep Treasury securities only and approve an idea that would support a portfolio subjective towards shorter-term maturity dates.

The Fed is decreasing the balance sheet by not investing the entire proceeds of its maturing securities again. Previously in the day, the comments of Ms. Mester on a panel at the University of Delaware posited that she is in support for the idea of decelerating the balance sheet reduction procedure. In an interactive session with reporters, Mester said she thought the Fed could put an end to its efforts at the reduction of balance sheet reduction in one stage.

For comments and feedback: editor@bestratedirect.com

Australia’s key rate held at 1.50 percent as the economy has faster growth and less jobless

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The economy of Australia is performing incredibly well according to statements by Reserve Bank of Australia Philip Lowe, Governor Monetary Policy Decision.  The Gross Domestic Product has been increased by 3.4 per cent while the unemployment rate has reduced to 5 per cent over the past year; this is the lowest point in six years. However, it is important to note that the forecasts for economic growth in 2018 and 2019 have been modified. The central outline is for the growth of GDP to be at an average of 3½ per cent over these two years before it reduces in 2020 as a result of the slower growth in the exports of resources.

The continuous expansion of the global economy coupled with the fact that most advanced economies are increasing at an above-trend rate and having low unemployment rates. The pace of growth in China has diminished a little, as the government is introducing favorable policies and observing the hazards in the financial sector. The inflation is still low across the globe, though its rate has increased because of the higher oil prices and an improvement in the growth of wages. There is an expected rise in inflation rate due to the stiffening labor markets, in the United States, and the considerable fiscal stimulus. One continuous doubt concerning the global outlook is as a result of the international trade policy direction in the United States.

There has been an expansion in the financial conditions in the advanced economies, but this has been stiffened in recent times. The equity prices have reduced while returns on government bonds in some economies have improved, though remain low. The United States dollar has considerably appreciated this year. On the other hand, the money-market interest rates have reduced in recent times in Australia despite recording an increase during the year. The standard variable mortgage rates are somewhat higher than a few months ago, while the rates charged to individuals borrowing for the first time for housing are considerably lower than for those with unpaid loans.

There is an aura of positivity surrounding business conditions, and there is an expectation of increase for the non-mining business investment. The increased levels of public infrastructure investment are also offering support for the economy, as well as the improvement in resource exports. However, a significant source of doubt is the household consumption outlook. The household income has remained low with stunted growth, coupled with higher debt levels and the prices of some assets have reduced drastically. This has resulted in severe conditions in various facets of the farm sector.

The terms of trade of Australia has improved over the last few years, and have remained stronger than anticipated. There is no doubt that it has helped in the advancement of the national income. Though there is an expectation that the terms of trade will decrease as time goes by, there is a probability that the terms of trade in Australia will remain at a high level for some time. The Australian dollar is still within the range it has maintained in the last two years on a trade-weighted basis, though the Australian dollar is presently in the lower region of the scale.

The labour market’s outlook remains optimistic as the economic growth is above the trend; an additional reduction in the unemployment rate is predicted to be around 4¾ per cent in 2020. On the other hand, the vacancy rate remains high, and there are accounts of skills shortages in some places. Despite picking up a little, the growth of the wages remains low. There is an expectation that economic improvement should result in an extra lift in wages growth over time; it is anticipated to be a slow process.

The inflation rate has remained steady and low. CPI inflation was 1.9 per cent and, in basic terms, the inflation rate was 1¾ per cent over the past year. These consequences tally with the expectations of the Bank and were grossly manipulated by declines in some administered prices as a result of the altercations in the government policies. There is anticipation for inflation to pick up over the next few years, and the rise is likely to be slow and steady. The central situation is for the inflation rate to be 2¼ per cent in 2019 and a bit greater in the coming year.

The conditions in the Sydney and Melbourne housing markets have continuously enjoyed peace, and the national measures of rent inflation have remained low. The growth in credit stretched to the owner-occupiers has alleviated but maintained its robust nature, while the demand by investors has reduced significantly as the housing market dynamics have changed. There have been stricter credit conditions in recent times, despite the low status of the mortgage rates, and in the face of intense competition for borrowers of high credit quality.

The low level of interest rates continuously supports the Australian economy. Moreover, there is an expectation of the further progress in unemployment reduction and getting the inflation return to target, though it is considered to be a slow process. Fortified with the available data, the Board concluded that leaving the monetary policy stance stable at this meeting would agree with the viable growth in the economy and aim to achieve the inflation target over time.

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Bank of Canada Keeps Benchmark Rate Unchanged

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The interest rate was maintained at 1.5% by the Central Bank, an indication that the NAFTA talks could influence the pace of increases in the future. On Wednesday, the Bank of Canada kept its standard interest rate stable at 1.5% as there is a possibility that the North American Free Trade Agreement could have a significant impact on the increases of future rates.

In a short policy statement, the central bank opined that higher interest rates would be required to ensure inflation is kept close to its 2% target. The central bank also confirmed that it would continue to engage a systematic style to increase rates, backed with incoming data and the reaction of the economy to higher rates.

In its policy statement, the bank also confirmed that it is also ensuring the monitoring of the NAFTA discussions and other trade policy expansions, as well as their influence on the outlook of the inflation. However, the central bank of Canada fixes interest rates to maintain and achieve 2% inflation over the long term.

In the words of Josh Nye, an economist with the Royal Bank, he said that the statement strengthened the expectations of analyst that the Bank of Canada will increase the key interest by a quarter-percentage point at a policy declaration in the latter part of October. He also said that in the case of an unforeseen weakening in business reaction or the disbanding of NAFTA, the increase in the rate by October remains unchanged.

However, the interest-rate decision was released on Wednesday, the same day that United States and Canada negotiators were supposed to discuss the NAFTA negotiations in Washington after they avoided a deadline imposed by the United States on Friday. During the early part of the week, Mexico and the United States of America agreed on their trilateral deal, and this has placed Canada under severe pressure to conform to the conditions given by the United States or be eliminated from the accord.

According to a study by the Bank for International Settlements, NAFTA is considered to be important for Canada, as a significant part of its exports are shipped to the United States, Canada will be the biggest loser if the deal is suspended. According to the data offered by Statistics Canada on Wednesday, the exports of Canada increased in July thereby reducing the trade deficit of the nation with the other countries of the world.

In a statement released by the central bank on Wednesday, the Bank of Canada has expressed concerns about the aftermath of the trade deal’s future for more than twelve months. It has been trying to increase interest rates after maintaining them at super-low levels in a bid to ensure the recovery of the economy from the financial disaster and the 2014 reduction in the prices of the global commodity. The business investment in Canada has been affected by the doubt surrounding the trade policy. The central bank also confirmed that increased trade tensions have posed a threat to the global outlook and playing a role in the reduction of some commodity prices when the economy of the United States is performing excellently.

The Bank of Canada asserted that the headline inflation at a rate higher than the anticipated rate at 3% in response to the maintaining the key rate on hold. The central bank suggested that there is an expectation of the inflation moving to its 2% target in the early part of 2019, as the impact of previous increases in the prices of gas disappears. It has also been observed that the instruments of fundamental and core inflation are unchanged around 2%.

According to the Central Bank Governor, Stephen Poloz, he confirmed that the economy of Canada is progressing according to the new prediction which was released in July. Nevertheless, the economic growth is expected to experience slowness in the next few months on additional variations in exports and energy production. The deputy governor of the central bank, Carolyn Wilkins is expected to deliver a speech on Thursday which is anticipated to grow on the outlook of Canada.

The Bank of Canada said the business investment and exports have been increasing for some segments irrespective of the risks involved in trade policy. It is noteworthy that the housing activity is stable after the introduction of strict mortgage-financing regulations and increased interest rates.

According to a Wall Street Journal survey of economists, the Bank of Canada was expected to keep interest rates on hold, as they opined that the doubt surrounding NAFTA and the belief that rate increases should be taken slowly would ensure the shelving of the central bank until October. However, the next arranged decision will be provided on October 24.

Since the mid-2017, the interest rates have been increased four times by the Bank of Canada, with the most recent one in July.

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