Asia Covid19 

GIC highlights 4 key shifts likely to lead to a ‘challenging investing environment’ in a Covid-19 world – Mothership.SG

In the face of a global pandemic and economic crisis, lower future returns and increased market volatility are expected, according to GIC. In an article accompanying its annual report, the sovereign wealth fund laid out four major shifts that were likely to precipitate a challenging investing environment. “In this environment, GIC continues to proactively seek opportunities that will generate good long-term risk-adjusted returns, as well as ensure that the total GIC portfolio remains resilient to uncertain outcomes,” said Chief Executive Officer Lim Chow Kiat. Lim added that GIC had to…

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Africa Covid19 Government Healthcare 

Egypt’s economic growth will slow to 3.1% due to coronavirus pandemic

Egypt’s economic growth will slow to 3.1 per cent in the 2020/2021 fiscal year. Growth is down due to the country’s coronavirus pandemic, which has negatively affected tourism revenues. As the price of gas has fallen, expat Egyptians living in the oil rich Gulf states have sent fewer remittances back home. According to the report, if coronavirus continues until the end of this year growth could slow to two per cent in contrast to the expected 3.5 per cent. The economic repercussions of the coronavirus pandemic have been huge for…

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Covid19 North America 

Canada’s coronavirus deficit soaring to $343B as feds warn of ‘permanent change’ to economy

The flood of federal spending in response to the coronavirus pandemic and the ensuing economic crisis will see the deficit soar to $343 billion this year, as officials warn the economy might never go back to normal. At the same time, Finance Minister Bill Morneau provided no indication of a road map for when or how the government plans to rein in spending. But he insisted in the 168-page fiscal snapshot that the country remains well-positioned to handle the weight of that deficit because of historically low interest rates .…

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Australasia Covid19 

Australia fears second wave as Victoria state tightens coronavirus controls

Australia’s second-most populous state has tightened coronavirus controls as a spike in cases triggers fears the nation could be hit by a second wave of infections. Victoria extended a state of emergency by four weeks to July 20, halved the number of visitors allowed in homes to 5 and delayed a planned increase in the size of gatherings in cafes, restaurants and pubs. The weekend announcement, and a jump in cases in countries including the US, Israel and South Korea, heightened market concerns about the difficulty of reviving economic growth…

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Africa Government Information Services 

Sudan embraces digital payments to build a more inclusive economy

As part of its vision to transform its economy, Sudan announced a new commitment to accelerate the transition from cash to digital payments. By joining the United Nations-based Better Than Cash Alliance, the government commits to increasing financial inclusion and transparency, taking steps to build an economy that benefits all citizens. Moving from cash to responsible digital payments is central to the government’s economic recovery and reform strategy. In particular, digital payments will be critical to the success of the recently announced Sudan Family Support Program, which will provide monthly…

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