EUROPE

Increasing investment screening will lead to EU “Protectionism” : António Costa

The Portuguese Prime Minister warned EU members against the new security procedures for screening non-EU investments, believing they will lead to more protectionnism. These were approved last month by the European Parliament, amid concerns that China and other countries were seeking to buy technology or use investments to gain industrial and military advantage.

Source: Financial Times

EU members defy Brussels’ dirty money blacklist

A draft Brussels’ blacklist, that included Saudi Arabia and four overseas US territories – along with 18 other jurisdictions – for their failure to control dirty money and terrorist financing, was denied by 27 of the 28 Member states, the only exception being Belgium. It was believed that countries like the UK and France opposed it because of the lucrative business relations with some of the named territories while others felt that Brussels acted too hastily in delivering such a politically sensitive list. Brussels retaliated by saying that it was being blamed for something which it was required to do under the EU Anti Money Laundering Laws.

Source: Financial Times

Keep an eye on

  • Brexit
  • Huawei and 5G
  • Algerian presidential elections
  • MUFG’s plan to buy DZ Bank’s aviation finance unit

ASIA AND OCEANIA

Tencent eyes more e-Sport competitions in China

Tencent is aiming to increase investment in e-Sport tournaments in China, through subsidies from local governments. The audience for e-Sports is expected to cross 450 million, with revenues expected to cross $1 billion. Games such as League of Legends, Honour of Kings are attracting sponsorships from firms like McDonald’s, Mars and Nike.

Source: Financial Times

Rubber glove overproduction to affect Malaysian exports

Greater production, both home and abroad is expected to take a toll on prices with Thailand and China which are also expected to see increased productions this year. The long term outlook of the industry remains positive, on account of global medical care and food hygiene standards increasing in importance. Four of the top rubber glove and nitrile glove makers are Malaysian, despite Malaysia being the 6th largest rubber producer.

Source: Financial Times 

Japanese industrial production falls by 3.7% in January

AFRICA AND SOUTH AMERICA

Royal Dutch Shell to face criminal charges over corruption in Nigerian oil deal

Prosecutors in the Netherlands are preparing for criminal charges against Shell related to its acquisition with Italian rival Eni of OPL 245 2011 oil deal in Nigeria worth $1.3 billion. According to prosecutors, OPL 245 was tossed back and forth between Shell and Nigerian group Malabu, backed by former oil minister Dan Etete. The Nigerian government, which is also suing the companies in London, argued that it was the victim of a serious fraud involving payments of bribes to Nigerian politicians and oil executives via the transfer of funds through Malabu accounts.

Source: Financial Times

Pressure from green activists on soya traders in Brazil

Climate activists are pushing agricultural producers to enact stronger measures to tackle deforestation in Brazil’s Cerrado region. Companies like Bunge, Cargill ans Louis Dreyfus have committed to share granular data on their suppliers in the Cerrado region. But pressure groups are pushing for a moratorium on soya production.

Source: Financial Times

Moodys to lift Greece’s Credit Rating to B1.

NORTH AMERICA

Uber and Lyft: race to the IPO

Lyft reveals $2 billion revenues as it races to IPO. It has seen a sixfold increase in active users in the last two and a half years, along with doubling its revenues. The IPO will have a dual class share structure, which grants its founders greater control. The filings did not reveal the size of the offering nor the anticipated share price. Being the first publicly listed car-booking company, this move might allow it to grow out of Uber’s shadow.

Source: Financial Times

50% returns from Canadian Cannabis fund

The first ever cannabis fund since the legalisation of recreational cannabis is set to become the second best performing fund after recording a 50% return in its first two months (currently at $1.3 billion – Horizons Index Fund). The main reason for this is the high demand which is only met by limited supply, therefore creating the ability to charge a premium. There are more prospects as more countries are expected to legalize cannabis.

Source: Financial Times

Written jointly by Sarah Mbiaba, Kaushik PSK, Sahil Bansal, Sophia Boucher, Leo Bouvier, Deepak Chathoth Narayanan, Kaline Larousse, Nisham Hussain M, Anirudh Parthasarathy and Tejwinder Randhawa.

Disclaimer: This newsletter contains information about Financial markets and college events. This information is not advice and should not be taken as such.