Nusa Dua, Bali, Sept 12 (ANTARA News) - Bank Indonesia (BI) has estimated that around 3.5 thousand to 5 thousand foreign investors will attend the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB) Group in Bali, from Oct 8 to 14, 2018. Head of Special Unit at BI for the IMF-WB Annual Meeting, Peter Jacobs, said this at the meetings on incentives, conventions, and exhibitions (MICE) tourism development acceleration workshop in Nusa Dua, Bali, on Wednesday. "What we need to pay attention to is the presence of investors, as they are the company officials with a trillion-dollar portfolio," he remarked. Hence, he noted that the largest financial meeting was expected to serve as a momentum in introducing the (economic) potentials of Indonesia to the investors from around the world. In addition to thousands of entrepreneurs or investors, the IMF-WB meetings in Bali will be attended by around 3 thousand to 4 thousand official delegates, 1 thousand observers, 1 … [Read more...] about 5 thousand investors to attend imf-wb annual meeting in bali
International investors fund
LONDON (Reuters) - Britain's OakNorth, a start-up specialist bank that provides business and property loans, has been valued at $2.3 billion (1.8 billion pounds) after closing a $100 million funding round. OakNorth, which also provides personal and business savings, said on Thursday that the funds would be used to increase the size of its business in Britain and drive sales of its financial technology platform to other banks internationally. Its valuation, up from $1.4 billion last year, is the latest example of the quickly increasing values investors are putting on financial technology firms, known as "fintechs", they believe are set to shake-up an industry still dominated by long-established giants. Rishi Khosla, OakNorth's co-founder and chief executive, said in a statement the firm, which was launched in September 2015, had been overwhelmed by interest in its fintech platform, dubbed Acorn, which helps banks that adopt it lend to small and medium-sized firms more efficiently. … [Read more...] about British bank OakNorth valued at $2.3 billion in funding round
ANKARA, Turkey (AP) — Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis.The national currency recovered somewhat from record lows hit earlier this week, a day after Qatar pledged $15 billion in investments to help Turkey's economy. The lira strengthened some 4 percent against the dollar, to around 5.75 per dollar.Treasury and Finance Minister Berat Albayrak was quoted by private media NTV as saying the economy would emerge stronger from the turmoil.Albayrak said Turkey's banks are "healthy and strong" and that implementing structural reforms and maintain tight monetary policy to fight inflation remain a priority. The minister ruled out any move to limit money flows — which is a possibility that worries investors — or any assistance from the International Monetary Fund, NTV said.The lira had nosedived in … [Read more...] about Turkish finance chief tries to reassure investors on crisis
In the investing world, there's no such thing as a free lunch. But that all changed last week, when Fidelity Investments, the mutual fund and brokerage giant, launched two stock index funds with zero expenses. To be clear, this is a unique thing in the financial industry. It costs a firm money to operate a fund, which includes costs for things like office space, employee salaries, trading, regulatory filings and legal expenses. Fidelity is the first major fund manager willing to absorb these costs for two of its index funds. The new zero-cost funds mean that investors in these funds will experience the same returns as provided by the broad range of stocks that make up the index, without any loss of returns because of fees. The two new funds are the Fidelity Zero Total Market Index Fund (FZROX) and the Fidelity Zero Internal Index Fund (FZILX.) The total market index fund seeks to provide the investment returns of the broad market of U.S. stocks. The International index fund … [Read more...] about Fidelity offers new zero-cost mutual funds – should you switch?
The Turkish lira took a nosedive on Friday as Turkish President Recep Tayyip Erdogan decisively lost the first battle in his “economic war” against the United States. Erodgan was obliged to hold emergency meetings, give bizarre Islamist speeches to rally the Turkish people, and plead with Russia for help within hours of President Donald Trump announcing harsh tariffs on Turkish steel and aluminum.The Wall Street Journal saw good reason for Erdogan to be nervous and quoted analysts who said he only has himself to blame: The lira was down almost 16% against the U.S. dollar on the day in European afternoon trading and 47% in the past 52 weeks—the second-biggest decline for a Group of 20 currency over the past decade, after the Russian ruble’s drop in 2014. The lira is down 23% this week alone. Turkish sovereign bonds also sold off, with yields on 10-year debt trading at above 20%, compared with 19% Thursday and roughly 12% at the start of May. “First you put … [Read more...] about Turkish President Erdogan Scrambles to Reassure Investors as Lira Tumbles Under Trump Tariff Threat