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EDITOR’S NOTE COVID-19 sent the world into lockdown. Our lives, our jobs, and our supply chains have all been interrupted. And that’s if we’re lucky. From supporting those working on a cure to others predicting what the long-term impacts on global trade (p.28) will be, this pandemic factors heavily in our financial decisions. But it hasn’t managed to slow the impact investing movement! Even the prospect of cheaper fossil fuel has failed to convince investors away from solar energy, which has seen remarkable share surges in the past few months. Meanwhile, the blue economy could also stand to benefit from COVID-19 (p.64). CNNMoney Switzerland’s Editor-in-Chief, Andreas Schaffner, argues that the pressure on businesses and investors to go green will only increase after COVID-19 (p.22). In this issue, we can’t help but discuss this crisis. But we’re also looking beyond. From the Asian Development Bank’s innovative anti-corruption efforts (p.16) to the Yo me uno fundraising platform for non-governmental and non-profit organisations in Central America (p.70), we’re bringing you stories of innovators and pioneers in their respective fields. If you know an organisation or individual who deserves to be recognised, please do nominate them for an award! Stay safe, Sophie Rasbash
22 08 Like and Subscribe
22 The Digital Bridge Between Switzerland and the World
48 37 Beyond Conventional Financing
An interview with Andreas Schaffner, CNNMoney Switzerland’s Editor-inChief.
T Bridge’s renewable energy fund has a target of a 1000MW of renewable energy projects by 2022.
Successful Trading after COVID-19
China’s Road to Recovery
Panthera Solutions empowers professional investors towards most evidence-based investment decisions.
Graham Bright, Euro Exim’s Head of Compliance and Operations, explores the post-pandemic international trading landscape.
What are the challenges China faces in reopening its economy? .
How are investors responding to a subscription economy?
13 Empowering Professional Investors
Innovation in AntiCorruption
Developing Custom Strategies for International Growth
The Asian Development Bank is promoting innovation and efficiency to enhance its anti-corruption efforts.
ARC Capital supports their clients through the process of accessing new markets.
The Bond Watch is Revealed Omega unveils 007’s latest timepiece.
56 The Race for a Viable Vaccine Despite big investments in a cure, COVID-19 is wreaking havoc on supply chains.
81 The International Investor Awards We celebrate the organisations innovating and driving the world of investment.
INTERNATIONAL INVESTOR MAGAZINE
AI-Powered Innovation in Mobile Banking With an exclusively online presence, au Jibun Bank is a pioneer in the mobile banking field.
64 Tapping the Seas for Power Will COVID-19 ultimately drive more money into the blue economy?
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HOW INVESTORS ARE RESPONDING TO THE SUBSCRIPTION ECONOMY by Viktor Tachev
In recent years, the subscription business
Subscription Commerce Economy report,
businesses’ revenues grew five times
model has managed to penetrate a
for the last five years, the industry has had
faster than those of S&P 500 companies
variety of industries, including health care,
a 17.33% CAGR. Harvard Business Review
(18.2% vs. 3.6%) and U.S. retail sales (18.2%
transportation, cosmetics, fashion, and
states that, since 2011, it has been growing
more. Today you can get everything f rom
HOW INVESTORS ARE RESPONDING
sneakers and designer clothes to your family tree and DNA analysis for a monthly
Zuora’s Subscription Economy Index
The investing community is actively
also confirms the trend. The index was
embracing the migration to a subscription
created to track the performance and
economy due to its unique characteristics.
Such is the success of the subscription-
reflect the growth metrics of subscription-
It disrupts the status quo on the existing
based model, it is already seen as the
based businesses worldwide. It covers
markets, generates large-scale social
norm, rather than an alternative.
companies from industries like media,
effects, aggregates capabilities, and
telecommunications, corporate services,
enhances the current business models.
THE RISE OF THE SUBSCRIPTION ECONOMY According to the Subscription Trade
and IoT. According to the last issue, released in October 2019, over the period January 2012 – June 2019, subscription
Association’s (SUBTA) 2019 State of the
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To get a clearer understanding of why
about a product, check it out, decide to
access to movies and music. From the
investors respond positively to the
buy it, and everything is concluded in one
investors’ point of view, though, the real
subscription economy, it is essential to
swift transaction. If you ever get back to
benefit is that these users spend much
look at their perceptions f rom several
the company, it will most probably be to
more time on Amazon, which dramatically
complain about something. Subscription
increases their chances of making
companies, on the other hand, rely heavily
• The subscription model’s characteristics
on their long-term relationships that help
The success of subscription businesses is
guarantee steady revenue growth. They
In the subscription medicine niche,
also ease the collection of information
patients, who get used to perks like same-
about their customers, analysis of their
or next-day doctor appointments and
behaviour flow, and coming out with
phone or video chat consultation, slowly
better and more personalised experiences.
get attached. Over time, the comfort
The biggest challenge for investors in
of the service makes them less likely to
subscription businesses is churn. The cost
cancel their subscriptions. From a financial
of replacing lost subscribers is very high
point of view, this means a steady income
and this can dramatically undermine the
stream for the service provider, thus more
viability of a business and even drain its
accurate projections for investors.
built on their ability to lock in their most faithful customers. Forming a tighter relationship with clients is easier because they have phased out the middleman, now it’s a direct connection between the business and the market. This is a very straightforward relationship for investors to analyse. Shifting the focus from retailers to producers directly helps companies build stabler relationships and first-hand experience with their clients by providing a more convenient and quick service for the consumer. The industry leaders are very much focused on community building and making their customers feel like part of a bigger movement. All this contributes to a higher lifetime sales potential f rom each customer.
cash reserves. That is why it is so crucial for companies to ensure continuous value
In the case of Netflix, the model is very
delivery so that they can maximise the
well-built and applied, which directly
customer lifecycle value and minimise
influences customers’ reasoning. A
subscription of $8.99 per month is identical (even lower, depending on the
Investors should be aware that not everything can be sold using the subscription model. Many businesses have tried and failed.
The subscription economy businesses interest investors because they show adaptability and flexibility. Transitions to subscription-based models require lots of resources and adequate strategic planning. Firms have to reshape their structure, change the existing sales culture, disrupt incentives, and convince both existing and new customers of the new offering’s value. Another reason investors are responding positively to the subscription economy is the room for businesses to adopt more
MoviePass, for example, tried to offer a cinema projection per day for a monthly fee of $9.95, which almost brought the company to bankruptcy. There are also several examples of subscription boxes that have appeared on the market before disappearing just as suddenly. It’s normally because they lack flexibility and a loyal customer base. Clients subscribe only to the services they need and care about. Their primary focus is the quality of the service, and they are often quick to cancel subscriptions that lack perceived value.
efficient growth strategies. Subscriptionbased services have higher potential for successful upsell campaigns beyond their initial subscription. This is because their customers already have an existing habit and are more open to paying extra for a better service. In fact, experts’ analysis points out that upselling additional services to the existing subscriber base is, by far, the most effective way to generate extra revenue. This is crucial for investors to better estimate the future profitability potential of such companies. With the pay-per-product model, the process is pretty straightforward. You hear
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• The psychological perspective and the demographics factor
state) to the costs of a cinema ticket. For the client, the perspective of consuming as much content as you want for the same price as going to see a single film per month is perfectly reasonable. The shift from a transactional to a subscription-based model was marked by the concentration of spending power in millennials and Generation Z. Their buyer profile has simple characteristics – they don’t fancy owning things and prefer having the freedom to explore and switch between new things effortlessly, with no strings attached. Instead of buying furniture for $5 000, millennials prefer renting it for $200 per month. According to McKinsey, e-commerce subscribers are younger individuals with spending power. The demographics analysis derives a client profile within the
From a psychological point of view,
age of 25 to 44, with income between
investors perceive subscription-based
$50 000 and $100 000, living in urban
models as a passive way for customers to
areas. 60% of the group are women.
build up familiarity with a service. Younger generations have embraced the In many cases, subscription services
subscription economy with 62% within the
become embedded in customers’
18 to 34 age group and 56% between 35
lifestyles. In the case of Amazon Prime, for
and 44 having subscriptions for three or
example, 50% of US households currently
more services at the same time.
have a monthly subscription worth $13. They are willing to renew it every month due to perks like faster shipping and full
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• The investment potential perspective
THE REAL-TIME IMPACT
Almost all of the leading tech companies
Research by the Harvard Business Review
are now using the subscription model.
focused on studying the way the stock
Apple, Adobe, Microsoft, Autodesk,
market responds to the news that a
and many more are partially or entirely
company is migrating to a subscription
ditching the outdated one-time license.
model, particularly software vendors
The effect on the share price since the
becoming SaaS (Software as a Service)
switch to subscription-based models is
providers, found several interesting points.
staggering. Adobe (ADBE) has jumped
First, a SaaS announcement has no effect
843.7%, Microsoft (MSFT) rose 522.2%,
on a company’s value. However, investors’
while Autodesk saw a 321% jump.
preferences are more aligned with new
If we rank companies based on their P/E
SaaS offerings, rather than product
ratios, we see that a significant part of
conversions. The study found that this
the 15 leading tech, media, and telecom
can result in intra-day stock valuation
businesses employ the subscription
moves of up to 3.5%. The other important
conclusion is that companies that partner with third-party cloud service providers
Another reason why investors are fond of
to deliver their SaaS solutions, instead of
subscription businesses is their stabler
building everything in-house from scratch,
sales and income streams, which are
enjoy up to a 2.9% increase in stock prices
typically referred to as recurring revenue.
on announcement day. Investors also
This significantly increases the accuracy
tend to increase their valuations by an
of companies’ earning estimations and
average of 2.2% if the company announces
reduces the risk of missing out on initial
that the SaaS offering is combined with a
projections. That way, investors can avoid
perpetual licensing model.
increased volatility for the shares in their portfolio.
Another finding is that having a previous version of the product, before switching
Subscription models go down well with investors because it gives them a clearer understanding of the corporate finances - the current inflow of subscribers and the potential for
to a SaaS offering decreases company value by 3.5% on average, compared to new subscription-based product launches. This means investors would instead prefer companies launching new product lines, rather than converting existing.
growth. The conclusion is that companies adopting a smoother shift from pay-perFor example, if the business has already
product to SaaS that has a transition
conquered a small and competitive
period of facilitating both models perform
domestic market, then this might not be
better on the market. An example of such
the best choice unless there are plans
a business is Autodesk. The perpetual
for international expansion. On the other
licensing option and subscriptions were
hand, a company with stable growth in its
offered together for a period of 15 years
subscribers in a bigger market can prove a
before the company shifted completely to
great investment opportunity.
Investors usually give higher valuations
to companies employing a subscription
The subscription model has been around
model, rather than relying on transactional sales. Subscription businesses can more efficiently predict the number of customers they can address and acquire, how many customers they can retain, and, most importantly, how much revenue they can get per customer.
since the first newspapers went to print in the 17th century. Since then, it has been growing stronger and is slowly becoming the dominant model on the market. With the new generations having the spending power, there will be no turning back. The subscription economy is here to stay, and investors are more than happy with it.
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EMPOWERING PROFESSIONAL INVESTORS BUZZWORDS VS INNOVATIVE SPECIALISATION
This is the environment we create.
Professional investors share their pain
points across asset classes, strategies and geographies: how to meet their investment and career objectives as durably and effortlessly as possible.
Others might train or consult. We
How to intervene in the choice architecture of a professional investment process that enables empowerment
APPLIED BEHAVIOURAL FINANCE SPECIALIST
towards most evidence-based decisionmaking? The framework needs to
Panthera Solutions Sarl is an Applied Behavioural Finance specialist, based in
Digitisation-driven margin pressure,
the Principality of Monaco.
oligopolistic tendencies in the asset
Our Intuitive Behavioural Design
management industry and regulatory
Solutions® empower asset managers and
requirements that strengthen the trend
asset owners to significantly, lastingly and
towards standardised services are pushing
measurably improve the quality of their
asset managers and asset owners in
investment decision-making. Panthera
a direction they have long avoided:
inclusively facilitates directed change
developing a comparative advantage
through customised training, coaching,
through innovative specialisation.
consulting, and Behaviour-Tech solutions.
believe while applying less than we know.” - Markus Schuller Nowadays, boardrooms, media publications and consulting pitches are full of buzzwords like change management, agile organisations, selfoptimisation, and mindfulness. However, despite all the buzzwords, the industry is full of ineffective passive learning offerings. They ignore that directed behavioural change requires real effort, which can be difficult and painful at times. Empirically we know, the more tailored an active learning environment is for an individual, the better the directed change can be facilitated.
interventions on an individual level, empowering the decision-maker to make the most of the enabling choice architecture. Our approach to satisfy these assumptions is represented by the Panthera
Our intervention framework, assignments
“We know less than we are willing to
be concrete enough to derive from
(which covers assets worth over €125 billion) and academic publications have proven us to be innovation leaders in
Intervention Framework. It addresses the need to overcome the described resistance to change by constructively closing the knowing-doing gap. In empowering professional investors towards more evidence-based investment
decisions, our framework concentrates on an intervention design based on three
Panthera Solutions is more than a company. It is a think tank. A laboratory. A solutions provider. An agent to facilitate directed change.
• A choice architecture that incentivises meaning creation, reduces friction and provides a tailored active learning environment for decision makers
We embody the idea that financial
(nudges, simple rules, etc.).
market complexities can be mastered most effectively with empowered market
• A team configuration that facilitates
participants supported by aligned teams
critical appraisal through cognitive
and a robust choice architecture. This
diversity and procedural design
transforms professional investment management into a crafted, skilful art.
• Directed behavioural change towards empowerment via
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• establishing focus through intuition-driven heuristics (i.e. internal and external distractor management via search, stop, decide routines) and debiasing techniques. • applying the established focus to select plausible tools, methods and/ or sources in building the case for most evidence-based investment decision.
THE PANTHERA TREE
The Panthera Tree is a state-of-the-art
The Panthera team teaches at renowned
behaviour-tech solution that facilitates
universities like HEC, London Business
most evidence-based investment
School, IUM, IE Business School and
decisions for asset managers and owners
EDHEC Business School. Our students
to strengthen their competitive edge.
gain exposure to our latest academic
As a habit-forming technology, it is
research and use new methodologies
incorporating learning, management and
on how to translate scientific insights
compliance aspects. Investment decisions
into applicable solutions for investment
are reasoned and monitored all in one
professionals. A win-win situation.
Maximising the use of adaptive and
Our expertise in applied behavioural
technical skills, while minimising luck
Our sound proprietary research is the
finance is a tool for us to intervene more
starting point for Panthera’s commercial
precisely and more meaningfully in the
offerings. As a team of internationally
long term for our clients. We love to see
renowned specialists in different asset
progress happening when working with
management fields, the catalogue of
professional investors. In our seminars,
our academic publications cements our
workshops and simulations, we apply a
position as innovation leaders in applied
multidisciplinary, constructivist form of
behavioural finance. Being research-driven
learning, where participants develop their
is easy to claim. In our case, it is embedded
adaptive and technical skills in a holistic,
in the Panthera DNA to generate and
instead of a subject-based, approach.
translate academic insights into applicable
in an investment decision process generates a competitive edge. MASTERCLASS INNOVATION In recent years, we have developed a unique concept of how to effectively develop participants’ skills in an educative setting: the Panthera Masterclass. Our Panthera Masterclass solves the
solutions for investment professionals. Our
team composition was shaped for that.
The combined insights from academic
to seamlessly implement tailored lessons
research and educative field experience
learned from educative offerings. We not
have proven to be a rich source of
only train participants but initiate directed
applicable solutions for commercial use.
behavioural change through deliberate
The Panthera Tree, our first Behaviour-
practice during a 4-6 day bootcamp,
Tech solution, was the result of this
either in Monaco or at the client’s office.
The participants define their individual
Our Panthera intervention framework was based on that. So are its elements, like the Panthera Tree. This bridge-building is now further strengthened with the launch of our Panthera Academy. We are excited to work with our clients on new Academy offerings like the Panthera Masterclass.
significant managerial problem of how
learning paths to meet their learning objectives, and work on their own case, while being guided through coaching and apprenticeship elements over three months after the Panthera Masterclass to ensure the most seamless adaptive and technical skill developments.
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INNOVATION IN ANTI-CORRUPTION THE STATISTICS
In 2019, ADB concluded 110 investigations
OAI conducted eight Proactive Integrity
into integrity violations, a 93% increase
Reviews (PIRs) of ADB-financed projects in
f rom the previous year, and assessed and
Afghanistan, Bhutan, Georgia, Indonesia,
closed 219 complaints, an increase of 16%.
Kazakhstan, Myanmar, Nepal, and Palau.
ADB debarred 69 firms and 62 individuals
PIRs assess the application of sound
for violating ADB’s Anti-corruption Policy
financial management, procurement,
(1998, as amended since). It cross-debarred
and asset management practices by
153 firms and 20 individuals sanctioned
government agencies responsible
by other multilateral development banks.
for implementing ADB projects and
Impositions of other remedial actions
recommend remedial measures for any
resources to align with ADB’s long-
against firms and individuals, such as
shortcomings. In 2019, OAI conducted a
term strategy, Strategy 2030,” said
reprimands and cautions, more than
PIR on an emergency assistance project
doubled from 2018.
for the first time.
The Asian Development Bank (ADB) is promoting innovation and efficiency to enhance its anti-corruption efforts by streamlining case management and expediting the assessment of complaints and completion of investigations, according to the Office of Anticorruption and Integrity (OAI)’s 2019 Annual Report, published in April.
“We reassessed and rebalanced our
the OAI’s Head, John Versantvoort. “These measures have allowed us to provide better value to our stakeholders and achieve significant improvements in the number of completed investigations and complaints that we assessed and closed.”
Strengthening governance and institutional capacity to improve service delivery in ADB’s developing member countries is one of seven operational priorities under ADB’s Strategy 2030.
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“We are fully appreciative of
ADB maintained quality screening
the constructive review and
methods to identify, assess, and mitigate
recommendations that OAI has provided in the ongoing Nikachhu Hydropower project so that we can improve, benefit, and better manage
integrity risks associated with its private sector counterparts and projects. It conducted integrity due diligence on 954 entities and issued 869 advisories on compliance. It provided capacity-building
our present and future projects,” said
support on anti-money laundering and
Managing Director of the Bhutan
combating the financing of terrorism in
Druk Green Power Corporation, Dasho Chhewang Rinzin, who is responsible for the implementation of the project. “We will continue to work
Mongolia, the Philippines, and Vietnam. ADB also expanded its technical assistance to strengthen tax integrity standards to Armenia, Cambodia, Maldives, the Marshall Islands, the Federated States of
to ensure that the recommendations of
Micronesia, Papua New Guinea, Samoa,
the OAI report get implemented.”
THE FUTURE ADB launched its first gamified e-learning course and delivered 98 learning sessions, including training on anti-corruption and respect at work to widen the reach of its knowledge-sharing and communication work. It also contributed to the G20’s Good Practices Guide on Promoting Integrity and Transparency in Infrastructure Development. It gathered representatives from 14 international financial institutions to strengthen integrity risk management in private sector transactions. Together with the Organisation for Economic Co-operation and Development and the Government of Vietnam, ADB hosted a conference for the Anti-corruption Initiative for Asia and the Pacific—the largest anti-corruption network in the region! ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty.
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DURBAN: A PREMIUM DESTINATION FOR INVESTORS Invest Durban has been recognised by
all investment stakeholders.
organisations such as the Department of
the Durban City Council and various
Invest Durban delivers a world-class
Trade & Industry including Invest SA, Trade
businesses as the first stop for stimulating
investor support service, encompassing
and Investment KZN (TIKZN), the Durban
new investment in the Durban metropolis.
our four-part business mandate, namely
Chamber of Commerce and Industry, the
We act as a partnership between the
investment promotion and marketing;
KZN Growth Coalition, and state-owned
Metro City Council and the private
foreign investment identification,
enterprises such as Dube TradePort, the
business sector, offering a f ree investor
attraction and facilitation; FDI aftercare
DBSA, IDC, Eskom, ACSA and others.
advisory service, plus key promotion,
and expansion; plus investment advocacy.
facilitation, and aftercare services between
Invest Durban works together with
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THE OFFER TO INVESTORS The thrust of Durban’s proposition to
Other major projects in the pipeline
The research aims to find out how best to
grow particular economic sectors, and indepth discussions are held about how to
attract investors can be put into three broad categories:
• Premium Destination - a business and lifestyle environment most conducive to both profitability and sustainability with ample land available. • Catalytic Projects - projects which have the potential to shift the socioeconomic landscape and trigger a series of investments across several sectors. • Priority Sectors - areas which receive the focus of planners in a variety of ways, including the creation of clusters and the development of value chains to promote new ventures and investment opportunities.
CATALYTIC PROJECTS Durban is working on a number of largescale projects that have the potential to
• GO!Durban Transport Oriented Development, which has already
of KwaZulu-Natal is mostly consumed
received major road upgrades and will
or exported in its raw state - much more
be an even greater enabler of trade.
could be done to add value through processing.
• The Centrum Government Precinct which would formalise the relationship
on national trade routes or they should
The priority sectors are:
between buildings such as the International Convention Centre (and extensions) and a related hotel, the library, council chambers and the redevelopment of Gugu Dlamini Park. • Cornubia integrated human settlement development north of Durban, on 1 300 hectares, a partnership between Tongaat Hulett Development, the human settlement departments at the national and provincial levels and the eThekwini municipality. • Dube TradePort, the multi-modal
• Automotive and allied industries • Logistics and logistics management • ICT and BPS (Information & Comm’s Tech, plus business process services) • Agri-processing • Life sciences (incl. Pharmaceuticals, medical device manufacturing, plus health facilities) • Tourism asset development
facility at King Shaka International
Some of these initiatives play to the
existing strengths of the regional economy, some seek to exploit newer
make a regional impact. The location of these projects is vital. They must either be
develop and grow value chains. The wealth
avenues as in the emphasis on the environment and a growing interest in the
Durban has a very diverse economic
ocean economy. A variety of projects link
living/working dynamics. Projects are
landscape, within which there are
tourism, renewable energy generation,
selected for their scale in terms of job
some large-scale enterprises.
recycling and job creation.
Cooperation between the public and
There are various other broader
private sectors is formalised by the large
programmes which have their own goals,
number of cluster initiatives which aim to
but there will be positive spin-offs for
draw to together experience and expertise
the targeted sectors. These schemes
f rom commerce and industry, labour
include the drive to increase local content,
organisations, government and academia.
boosting metal fabrication across sectors,
The Point Waterf ront Development is a
Under manufacturing, the following
promoting exports and the overarching
clusters or programmes are active:
eThekwini Industrial Development Policy
help to break down the old apartheid
creation, investment size and potential revenue creation. Ideally, the projects should include a combination of uses (retail, commercial and housing, for example) and they should fit in with the United Nations’ Sustainable Development
prime example of a catalytic project. Some
the promotion of black industrialists,
projections put the potential investment value at R40 billion and the number of permanent jobs to be created at 6 750. It is an ambitious plan, linking the city’s beach promenade and the harbour. The Point Waterf ront Development offers a property use mix of office space, retail
• KZN Clothing and Textile Cluster (KZN CTC)
seen significant investment. A new cruise line terminal in the harbour, backing on to the Point will dovetail well with the new atmosphere of the precinct.
sectors are invited to contact Invest
• Durban Automotive Cluster (DAC)
Durban and benefit from these initiatives!
• Durban Chemical Cluster (DCC)
Visit www.invest.durban for more
• eThekwini Maritime Cluster (EMC)
shops, residential dwellings and leisure options. The 55-hectare site has already
Any companies operating in these key
• KZN Furniture Incubator • Agro-processing development programmes
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CNNMONEY SWITZERLAND: THE DIGITAL BRIDGE BETWEEN SWITZERLAND AND THE WORLD AN INTERVIEW WITH MR ANDREAS SCHAFFNER, EDITOR-IN-CHIEF OF CNNMONEY SWITZERLAND
CNNMONEY SWITZERLAND WAS SET UP AS AN INDEPENDENT SWISS MEDIA COMPANY. WHAT IS ITS RELATION TO AND ROLE WITHIN THE WIDER CNNMONEY BRAND?
access to CNN studios and correspondents
around the world. If we have breaking
Soon we realised that we could create
We are a great asset for CNN and we
Strike – we are able to provide them with
complement its global brand within the
coverage and additional information.
sport. This was a very positive surprise for us and
CNNMoney brand. In a certain sense,
WHAT ARE SOME OF THE TOPICS YOU WERE SURPRISED TO SEE INTERESTED YOUR VIEWERS?
we are pioneers. For us, it’s a privilege to
We started with what some might call
use CNN Business content and to have
a traditional approach toward business
European region. We are proud to be the first TV channel to create a fully integrated digital and linear TV outlet using the
news for our colleagues in London, New York, or Atlanta – like we did on the Swiss National Bank, Swissport, or the Women’s
communities around specific topics, such as innovation, entrepreneurship, blockchain, but also the arts and
made us reshape the company. Of course, in times of COVID-19, we had to adapt slightly to cover the pandemic in Europe.
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WHAT INSPIRED THE BIG PICTURE SEGMENT, WHERE YOU DEEP DIVE INTO TOPICS BEYOND THE HEADLINES?
YOU’VE BEEN COVERING THE SWISS ECONOMY FOR OVER TWENTY YEARS NOW. LOOKING AHEAD WITH YOUR INSIGHT, WHAT DO YOU SEE AS THE EMERGING TRENDS THAT WILL SHAPE THE MARKET?
I believe that luxury brands are here to
the big picture. We are strong with long-
Since I started, I think the economy, and
especially from mainland China.
format interviews, and we will continue to
for that matter, many businesses, have
work on this type of content. I think this is
never really gotten out of crisis mode.
Will Baselworld remain the same?
exactly where we can provide our viewers
There was the dotcom bubble bursting,
Probably not. Will the Geneva Motor Show
and communities with added value. I
followed by 9/11, and then later the
remain the same? Probably not. Events
believe there is a need for conversations
big financial crisis that dominated the
will need to be more agile, digital, and
on this level. And by having these broader
conversation. Digitisation, too, has led to a
much more global than they used to be.
conversations with CEOs or experts, we
constant need to adapt business models.
Just waiting for the big luxury community
We were never in the business of breaking news only. Our approach was to look at
Well, we have been very lucky so far. Being the new kids on the block helped us here for sure. The fact that Switzerland is the place to be for many international players – just think about the WEF Annual Meeting – helped even more.
the globe will continue and this will be the main driver moving forward. I don’t see it picking up after the crisis quickly but you already see signs coming from Asia,
to travel to Switzerland once a year is not a
still create headlines.
IT’S CERTAINLY TRUE THAT CNNMONEY SWITZERLAND HAS INTERVIEWED SOME HUGE PLAYERS IN THE WORLDS OF FINANCE AND BUSINESS.
stay. The rise of the middle class across
A big topic that has changed companies
business case as such. Banks have shown
was the corporate governance discussions.
that they learned this lesson the hard way.
Now I really see companies adapting to a more sustainable way of production. Going green is not just an option anymore – even more so after the COVID-19 crisis.
DO YOU SEE THE MEDIA LANDSCAPE BEING CHANGED IN THE LONG TERM AS A RESULT OF THIS PANDEMIC? Yes, we have seen a dramatic shift already. Less spending on advertising is a fact that
BY CANCELLING EVENTS LIKE BASELWORLD AND THE GENEVA MOTOR SHOW, THE PANDEMIC IS PROVING DIFFICULT FOR ALL KINDS OF BRANDS. WHAT KIND OF IMPACT DO YOU THINK IT WILL HAVE ON LUXURY BRANDS IN THE LONG TERM? HAVE YOU SEEN ANY STRATEGIES FOR SURVIVAL THAT IMPRESSED YOU?
has impacted larger media companies across Europe, and this will have huge significance. At the same time, news consumption has reached new records and the need for trusted sources is higher than ever. And yes, linear TV has made a comeback. Like in all crises, there are many chances, too. Smaller, agile players like us at CNNMoney Switzerland can adapt their business models quicker.
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GEARED FOR GROWTH
A truly smart city, Durban, KZN, South Africa seamlessly combines an innovative business environment with an exciting, contemporary lifestyle. Connecting continents, here you will find Africa’s busiest port, the top ranking conferencing city and the home to the continent’s very first Aerotropolis. Boasting world-class infrastructure, manufacturing and industrial concentration that is constantly evolving, isn’t it time to join this progressive society rich in investment opportunities? …We can help you make it happen, now.
Tel: +27 31 311 4227 Email: email@example.com web: invest.durban
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Extensive first-world road, rail, sea and air
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The city of Durban (eThekwini Municipality) is South Africa’s second most important economic region
Rated in top 5 ‘Quality of Living’ cities in Africa and Middle East by Mercer Consulting in 2015
Named one of the New 7 Wonders Cities by the Swiss-based New 7 Wonders Foundation in 2014 1 01 00 1 I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 027
Continuing succ essfu l trade after COVI D -19
CONTINUING SUCCESSFUL TRADE AFTER COVID-19 by Graham Bright, Head of Compliance and Operations at Euro Exim Bank
The COVID-19 pandemic continues to have
Whilst governments, health
such as ventilators, and soon, hopefully,
global repercussions, and our lives will be
authorities and essential services
changed irreparably, affecting the goods we want, the goods we need, and what constitutes luxuries and essentials. We have seen how COVID-19 does not respect borders, resulting in appalling mortality rates, crashes and rebounds of stock markets, the general population isolated, with unclear ever-changing guidance, uncertainty and fear.
tackle the effect domestically, ultimately, global trade must continue. International trade generates trillions of dollars per year, supporting economies and huge workforces filling insatiable demand for garments, metals, foodstuffs, pharma, electronics and plastics across the globe. Now that demand has changed to include PPE - masks, testing kits, surgical gowns and medical equipment
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Whilst many companies have switched to PPE production, these are short-term strategies. When COVID-19 is beaten, we will need to re-tool original production processes, rebuilding supply sources and re-starting import of materials and export processes for finished goods. With a new world dynamic â&#x20AC;&#x201C; will the world still want or need those goods?
THE OUTLOOK The economic forecast remains grim, with US Federal Reserve Bank predictions of unemployment rates higher than the Great Depression (30%) and GDP falls of 50%. Unprecedented times indeed. Few foresaw the sustained falls across international markets, triggering trade
cash flow, loss of workforce and potential
and costs of using far-distant networks of
suppliers and factories.
Unfortunately, it may be too late for some
Meanwhile, the potential of Africa has
companies, as the digital world will grab
not gone unnoticed. With the availability
a larger market share, redefining how
of specialist raw materials not currently
we shop in future with household names
as heavily impacted by COVID-19, the
consigned to history.
region offers proximity and replacement supply source for companies seeking to
But there are always positive seeds of
distance themselves from Chinese market
optimism that come from every adversity.
THE GOOD NEWS
Weâ&#x20AC;&#x2122;ll have to see how effective this
Despite market fluctuations, those with
alternative proves, as few countries are yet
active wealth management strategies
able to match Chinaâ&#x20AC;&#x2122;s size and availability
Net effect? Car sales falling 97% f rom
will be best positioned to minimise the
of workforce, efficient suppliers and highly
the same time last year, travel industry
effects of this outbreak and benefit from
stagnation, air passenger and flight
the long-term recovery. Indeed, global
volumes down 90%, with fuel demand and
markets have recovered some of their
oil prices at historic lows.
losses, with the MSCI World Index ending
circuit-breakers designed to prevent panic-trading four times in 20 days. With no time to hedge, billions were wiped off company values with investors fleeing to safer market sectors.
April up 26.5% from its lowest point in
EXPOSING VULNERABILITIES The pandemic has shown vulnerabilities in contingency planning, especially with disrupted supply chains, short-term exposure, rise in liquidity demand, ravaged
March. Manufacturers will look more locally and may radically change their supply, logistics and production strategies, by cutting ties
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Continuing succ essfu l trade after COVI D -19
THE FACTORS THAT WILL ASSIST THE FUTURE OF TRADE
APPLYING APPROPRIATE COLLATERAL REQUIREMENTS
Key elements in all trades are trust, identity, means and intent to pay. Buyers need collateral and funding options but are constantly hampered with unreasonable financial demands. Many large financial institutions are charging buyers punitive rates for instruments, requiring locking of funds of up to 110% of the face value of trades for
To survive in these uncertain times,
APPLICATION OF INNOVATIVE TECHNOLOGY
firms must be realistic in profit
The complexity of cross-border trade
pragmatic management, hire
flows and industry initiatives in the
professionals, listen to peers and
standardisation of processes led us early on to build a bespoke trade platform, incorporating blockchain and AI
value and contribution, not just expenditure, and ultimately keep
operations and enabled us to pass on
producing and delivering what
benefits of speed, trust, efficiency and
immutability to our clients.
As a facilitator of global trade, Euro
Remote working, coupled with video conferencing, have altered work dynamics
cripples cash flow, especially with smaller
and re-ignited the move towards more
values, leaving companies disadvantaged
digital services, allowing trusted creation
and distribution of electronic complex documents. We expect greater use of
At, Euro Exim Bank, we take a pragmatic
verified, trusted delivery in preference to
approach, looking at appropriate collateral,
current â&#x20AC;&#x2DC;wet inkâ&#x20AC;&#x2122; bills of lading as physical
enabling clients where possible to transact
papers in multiple copies. And who will
multiple deals and therefore to trade
need bricks and mortar offices?
competitively and profitably.
RESOLVING PAYMENT AND LIQUIDITY ISSUES
competition. They must understand
technologies. This has future-proofed our
up to one year. Good for banks, but this
and investment outlook, exercise
FREE TRADE AGREEMENTS (FTAS) As threats of a renewed trade war between
Access to exchange-traded currency
the US and China loom, agreements in
such as US dollars can be expensive or
Af rica (AfCFTA) and the Far East (RCEP)
restrictive in emerging markets. Euro Exim
could hold the key to minimising a long-
Bank was one of the first regulated banks
term recession. Designed to eliminate
to embrace new payments technology
protectionism and isolation, FTAs allow
through participation with RippleNet.
f reer movement, unencumbered by tariffs,
Using xCurrent delivery of real-time,
excessive complex process or currency
f rictionless payments, cross-border
restrictions, encouraging trade with
transactions are guaranteed without
neighbouring partners, i.e. promoting
multiple routing hops or the necessity
faster, cheaper supply, where profit or
for traditional correspondent bank
economic supremacy cease to be the sole
With innovative ODL (On-Demand Liquidity) services, clients benefit f rom low-cost liquidity underpinned by Ripple XRP digital assets. This gives settlement with certainty, guaranteed exchange rates and immutability in terms of transfer and settlement allowing bilateral cross-border transactions in a local currency, without switching between expensive mainstream currencies.
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Exim Bank remains well-positioned and ready to work with corporates and SMEs finding innovative trade initiation solutions, enabling them to deal safely and competitively in the wider international arena. We look forward to a fast economic recovery, to a better, more charitable healthy humane world, with all citizens having access to the goods they need, at prices they can afford, as soon and as safely as possible.
GLOBAL VISION, LOCAL IMPACT THE THREE PILLARS OF BDC’S VALUES
Our definition of success is an
(BDC) has been effectively adopting a wide range of prominent Corporate Social
In line with the Sustainable Development
Responsibility (CSR) initiatives, providing a
empowerment of tomorrow’s young
Goals (SDGs) and Egypt’s vision for 2030,
dedicated approach that drives significant
BDC’s strategy focuses on economic,
impacts on community development in
social and environmental development.
Additionally, Banque du Caire’s 5-year
With a global vision and local impact,
strategy supports the governmental
the CSR team based our model on three
endeavours pertinent to SDG10 that strive
Banque du Caire’s strategy takes
main pillars: the economic empowerment
to reduce inequality and promotes social
into consideration the social and
of women and youth, sustainable
inclusion by ESG.
environmental consequences of business
communities, and the environment. Each
activities, not only across the country
of the three pillars works in tandem to
As a pioneer in micro-finance, BDC fosters
but also up to the most innovative
transform our communities and empower
partnerships with local and youth-led non-
global standards. We guarantee that the
people to lift themselves out of poverty
governmental organisations (NGOs) with
workflow demonstrates a full dedication to
and into developed social mobility.
the overall objective of creating new job
Established in 1952, Banque du Caire
impact that sustains for decades and
implementing effective governance.
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Global vision, local impact
opportunities for the youth by providing
With the training, they can start their
of their waste and can help them develop
vocational training and adequate support
own projects, generating income for
better living habits at an early age.
to persons with disabilities while assuring
their families, and, most importantly,
gender equality in all its activities.
become independent business owners. The project will continue on an annual
SUPPORTING HEALTH IN THE COMMUNITY
As for the second pillar related to
basis and expand targeting sustainable
In line with our core values, the bank
sustainable cities and communities, we
development of the less privileged areas
has supported the local health units to
have a wide range of support including
better serve residents. BDC has provided
the transformation of selected rural
the necessary medical devices used for
villages in upper Egypt. This support
FROM ORIGIN TO DISTINCTION
means providing the inhabitants with
In February, we launched the bGreen
community. The bank provides consistent
access to clean water and sanitation,
initiative, engaging all of our stakeholders
technical support visits for one year for
renovating schools and enhancing the
to follow sustainable practices in their
the units’ doctors, and bi-annual medical
curriculum, refurbishing and equipping
daily businesses. Under the umbrella
convoys to stipulate support through free
medical centres. Women are also
of bGreen, we are implementing green
medical examinations, medicines and
supported as self-sufficient earners.
roofing in our headquarters as well as
operational surgeries when needed. We
launching the initiative to be the first bank
also delivered free treatment of animals
As for the third pillar, we believe in leading
to plant trees in some neighbourhoods
in the villages, who provide a big portion
by example. In 2020, we launched the
across the country.
of income to families, in terms of both
bGreen initiative with a special focus on
treating diseases widely spread in the
food and textiles. The bank partners with
advocacy and awareness-raising among
The bank takes the necessary measures
numerous hospitals, providing them
our clients, suppliers, staff and community,
to ensure its branches are designed in
with not only financial support but also
addressing numerous identified areas
line with both national and international
psychological support where employees
standards by rebranding old branches.
visit those in need on a regular basis.
We implemented the use of LED lighting • Climate change • Recycling projects in 150 schools • Cleaning 10 beaches across the country and helping clean the River Nile • Planting roofs • Being a green bank
The bank has been adhering to the United Nations’ Global Compact principles since 2016; supporting precautionary approaches to environmental challenges, encouraging initiatives to promote greater environmental responsibility and ecof riendly technologies.
THE BCR EDUCATIONAL VALUES IN THE COMMUNITY Leveraging on our commitment to sustain the economic and educational pillars, we launched vocational training initiatives, in which we bring workers from underprivileged areas and provide them with vocational training to develop their skills. We help them sustain and expand their small businesses by opening up their sales opportunities. The training is available for both men and women, who can be the breadwinners of their families.
along with the renovated floors of the
ENGAGING THE STAFF
headquarters - replacing traditional
As part of our CSR & Sustainability strategy
fluorescent lighting. This helps save
to keep employees engaged by giving
energy and increase air conditioners’
them a sense of contributing to society,
efficiency as it decreases the heat
we launched our internal volunteering
emissions coming from lighting. Eco-
programme, designed for nine thousand
f riendly plumbing systems are used in
employees. The programme targets
the bank’s buildings to save water and
all bank staff across Egypt, engaging
energy, provide clean water, and decrease
employees with monthly planned
chemical pollution. The bank’s main
activities that revolve around giving back
building is equipped with double-glazing
to the community. As a promotion and
to absorb heat before it can negatively
motivation for more engagement and
affect the central air conditioning system.
loyalty to the programme, we reward the
Additionally, the branches’ facades are
champions with a paid overseas trek to
designed with thermal control to save
volunteer with one of the international
energy consumed by air conditioners.
NGOs that we partner with. Additionally,
Highlighting our environmental
the programme holds an annual summit
conservation initiatives, the bank also
at the end of each year, where all our CSR
designed and developed a fully eco-
partners and volunteers are invited to
f riendly branch in Siwa where all materials
recognise the champions and announce
used are environmentally friendly and in
new targets and trek destinations for the
line with international standards.
To highlight our focus on sustainability
Banque du Caire follows its path to
within our community, we provided
achieving the ultimate goals of creating
both public and private high schools
environmental, social and governance
with recycling bins to reduce waste.
This served as a medium to provide educational awareness for the students, where we closely monitored workshops focused on environmental challenges. This programme makes students more aware
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DEVELOPING CUSTOM STRATEGIES FOR INTERNATIONAL GROWTH ARC Capital is a mid-market investment bank with an international presence, and offices in China, Singapore, the United States, Indonesia and Mexico. Our financial team specialises in public listings, mergers & acquisitions (M&A), financial advisory services, and wealth management. ARC provides a customised and personal approach to our clients.
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Developing custom strategies for international growth
ACCESS TO NEW MARKETS We founded the company in 2015 with the aim of helping Chinese companies to find alternative sources of financing, taking advantage of our knowledge and experience in the US stock markets. We were fortunate to start with a client who gave us the opportunity to work with him and prove our worth. ARC Capital started its business offering focusing on the capital markets area, mostly with IPOs in the NASDAQ f rom companies f rom China, as well as other companies in Asia. However, over the past few years, we have also paid particular
investment fund that allows public stock
STRATEGIES FOR INTERNATIONAL EXPANSION
market investors to invest in private
ARC Capitalâ&#x20AC;&#x2122;s main focus has been mainly
equity-type transactions, particularly
in small and medium companies across
different industries. We have helped our
companies (SPAC) This is a type of
clients to gain international exposure, In addition, we offer M&A services for
finding the best strategy according to
companies, as well as providing the best
their expansion goals, including offshore
corporate finance solutions and different
services to provide them the best strategic
types of investments to ensure the best
location for their expansion purposes.
returns for our clients. Also, some M&A transactions we have performed in the
Sectors that we have focused on in Asia
past have had an important cross-border
include high-tech, e-commerce, retail,
component, particularly between Western
luxury, food and beverage, chemicals,
countries and China, as much on the buy
pharmaceutical, automotive, aerospace,
side as the sell side.
agriculture, hospitality, infrastructure,
attention to special purpose acquisition
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among many others.
ARC Capital has seen increased deal
We leverage our deep experience
ARC Capital continues to grow its SPAC
flow over the past few months. We have
in Asia to provide our clients with
practice, we now take companies from the
advised multiple companies on IPOs such as Indonesia Energy Corporation, the first Indonesian company to ever list directly on the New York Stock Exchange and the first family office-backed SPAC out of Singapore called Yunhong International. ARC Capital was also the lead advisor on a recent M&A transaction involving a publicly-traded company called CTI Industries, and, in just the past six months, we have closed four private capital raises in excess of $70 million, just in Asia! Our multiple offices around the globe enable
IPO process through the merger process,
services and guidance in other countries. Most of our clients hire us to guide them through complicated
offering a complete range of services. We have also been in talks with multiples companies looking to raise money
transactions in foreign countries.
through a merger with a SPAC.
ARC Capital is also an advisor for private companies in confidential transactions. We have been working with an important real estate developer in Peru that is
Raising money through a SPAC merger is a great alternative for companies that operate in countries where credit markets have frozen due to the COVID-19 crisis.
currently in the final stages of raising capital for their most recent project. We are the exclusive advisors on this deal.
us to provide invaluable advice to our clients and work around the clock on fastmoving transactions.
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LOOKING BEYOND CONVENTIONAL FINANCING The T Bridge mantra is “We back the
property, renewable energy and telecoms
into co-investing into our chosen sectors
innovative, the courageous, the risk-takers
and he is part of several entrepreneurial
that share our enthusiasm for positive
and the boundary pushers”.
communities and associations.
change, he believes T Bridge is the radical
T Bridge Venture Partners is a dynamic
Innovation, ambition and dynamism
solution that can bridge the gap. and impactful venture company investing in companies. The company was started on the premise of seeking innovative and ground-breaking firms across a number of sectors: renewable energy, proptech,
have been the key actors through Oluleye’s endeavours with the underlying theme to excel and build leading and defining companies.
fintech, consumer retail, TMT and agritech. Started in 2017 by award-winning serial
THE ORIGINS OF T BRIDGE
entrepreneur Fope Oluleye who has
While building his own companies,
been building successful companies
Oluleye realised the gap in funding for
since he was 21 years old and runs
new-age companies that fitted outside
multiple operations through his group of
conventional financing due to their
companies across Europe, USA and Africa
business models and positioning to
that sit under the parent umbrella, Zenith
disrupt the status quo. Partnering with
Guild Group. Since 2011, he has built up a
family offices, wealth management and
collective set of organisations involved in
climate funds and attracting institutions
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Looking beyond conventional financing
T Bridge’s mission to invest capital into innovative and creative companies has seen them form a partnership with Brightstar Solar Global to focus on tackling the shortage of electricity inf rastructure in sub-Saharan Af rica through renewable energy. Renewable energy is a key sector for them as it is still at a nascent stage in terms of potential applications and wideranging uses.
2020 AND BEYOND
The venture capital industry remains,
With the present situation of the current
first and foremost, an essential source of
adverse fluctuation in the oil market, T
capital and resources for a great number
Bridge aims to further draw attention to
of burgeoning industry startups seeking
renewable energy as a reliable source of
to address a number of problems through
energy production through Brightstar
a variety of sectors and provide active
Solar Global to the region and provide
solutions. T Bridge aims to further add
much needed electrical production
value to the industry by focusing on early-
to hospitals, homes and commercial
stage companies and founders that have
enormous potential to disrupt current inefficient norms or create new innovative
We have initiated a series of options
pathways and create lasting value for
to implement and create a pipeline of
potential users and society as a whole.
opportunities to attract further investment from investors that are looking for
THE T BRIDGE APPROACH
T BRIDGE RENEWABLE ENERGY FUND – THE OPPORTUNITY
alternatives to oil.
T Bridge takes its vocation seriously,
The current marketplace provides
having established the partnership with
an opportunity for T Bridge and
Brightstar Solar Global for a £500m fund, setting its sights on renewable energy as
T Bridge realises that building successful
a medium to help address and positively
firms means infusing them through both
increase the electricity production to
active collaboration and investment that
increase productivity and impacting
will ultimately steer them onwards to
economic growth. The T Bridge renewable
growth and success. We want to create
energy fund, with its £500m fund, will
an ecosystem where our companies can
target Brightstar Solar Global’s mandate
thrive. Fope Oluleye describes a three-step
of 1000MW of renewable energy projects
process for identifying businesses that fit T
by 2022. With a 30MW solar farm already
Bridge VP’s investment profile.
underway in Nigeria, we have signed with the Nigerian Government to supply
electricity and are looking at potentially Potential for viable high
another 300 MW of projects in the country.
transformative growth through tackling a key problem in our chosen sectors.
The company has also signed an MOU with a major first-tier banking institution
to complement its rooftop strategy for Founder team with knowledge and
understanding of the addressable market to execute its vision.
Brightstar as the financial incentive of investing in renewable energy becomes as attractive as the oil market. Over the coming years, we will deliver our goal of 1000MW across our four main operational systems of large-scale utility solar farms, commercial solar systems, distributed mini energy grid systems and rooftop solar systems with a key emphasis on technological innovation and longterm sustainability. To find out more about the T Bridge Venture partners, visit www.tbridgevp.com.
home installations. In addition to home solar systems, utility-scale solar farms, commercial and industrial systems are targets. Energy solutions on a commercial basis would cater to agribusiness, mining, healthcare and commercial premises.
The company has a clear identity of
Whether it is integrated solar systems
where they sit within their sector and how
or stand-alone systems, we aim to use
they can impact it.
these solutions to positively influence the electricity and energy market in the
Most importantly, he recognises that those
founders with boundless energy, untiring commitment to reaching their goals, and a deep desire to win as ones most likely to succeed. Through co-creating and fostering an environment that allows portfolio companies to shape their brand identity along with best-in-class resources, T bridge believes they can further accelerate their growth.
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OUR EMPLOYEES A R E C R U C I A L TO OUR SUCCESS
WHITESTAR.PT SERVICING OF CREDIT LOANS
REAL ESTATE MANAGEMENT ADVISORY AND SOLUTIONS
LEAVING NO ONE BEHIND IN THE DIGITAL ERA
Our vision is to promote digital economies that leave no one behind. Our goal is to equip millions of people by 2024 to use innovative digital services in their daily lives that will empower them and contribute to achieving the Sustainable Development Goals.
The United Nations Capital Development Fund (UNCDF) has announced partnerships with digital services providers to increase access to and usage of digital services in the North and West Nile regions of Uganda. Through these partnerships, the UNCDF is supporting private sector players to develop and scale digital solutions for communities that are often marginalised and denied digital innovation and technology due to social norms, societal status, and limited revenue and capacity. The partnership is part of the ‘Leaving No One Behind in the Digital Era’ strategy, funded by the Swedish International Development Cooperation Agency (Sida), which aims to build an inclusive digital economy in Uganda. The programme focuses on empowering rural communities to use digital services in their daily lives for development impact in agriculture, health, education, and finance. “In line with our strategy, the partnerships aim at breaking the obstacles that limit the reach of digital services in rural communities,” said Jenifer Bukokhe Wakhugu, Deputy Head of Office at UNCDF Uganda.
“Our goal is to enable at least one million people in rural communities of Uganda to use digital services that will empower them to lead productive and healthy lives while at the same time contributing to the achievement of the Sustainable Development Goals.”
THE DIGITAL GAP While the overall number of people accessing digital products and services in Uganda continues to grow, the digital access gap is widening, negatively impacting routinely excluded populations: rural communities, smallholder farmers, women, youth, MSMEs & refugees. Over the last four years, the Ugandan digital financial market has grown from 26% of the adult population actively using digital financial services in 2014 to roughly 56% in 2019. However, in rural communities, such as the Northern and West Nile Regions of Uganda, access to mobile digital financial services lags behind at dismal levels of less than 30%.
BRIDGING THE GAP To bridge this gap, the UNCDF is partnering with mobile network operators (MNOs), Airtel Uganda and MTN Uganda, to increase mobile phone penetration, strengthen the rural agent network, improve liquidity, optimise connectivity across the target areas, and develop relevant and affordable products for rural communities.
The UNCDF is also partnering with agri-techs, Ensibuuko Tech Limited and MobiPay Agrosys Limited, to create a network of digital community entrepreneurs (lead farmers) aimed at increasing last-mile distribution of digital inclusion related services and products such as phones, off-grid energy solutions, bank accounts, farming inputs, and electronic airtime. Additionally, these partnerships will also be leveraged to teach financial and digital literacy skills to build and foster an open payment ecosystem that empowers these communities. “Through these partnerships, we aim at building the digital infrastructure in the rural communities to pave the way for digital technologies that will remove the major market constraints in agriculture, education and health, while at the same time creating impact in entire market systems,” Ms Bukokhe added.
Leading the way in sustainability and innovation in Latin America
Looking beyond conventional financing
@baccredomatic Guatemala El |Salvador Honduras Nicaragua Costa Rica 0 42 I N T E R N AT I ON AL INVE STO R MAGAZ INE Panamรก
CHINAâ&#x20AC;&#x2122;S ROAD TO RECOVERY by Kenny Fowler
While much of the world was still in the throes of the coronavirus
Transportation in and around Beijing has been strictly limited.
that originated in the city of Wuhan, China declared itself open
The movement of foreigners has been restricted due to fears of
for business. Chinese factories began roaring back to life, even
additional cases being imported back in. In the Hubei province
though serious concerns about the virus coming back continued.
itself, even though there are no new cases, officials seem to be taking the risk seriously. The province continues to maintain the strictest emergency response measures.
Looking beyond conventional financing
Railway stations have escalated their
In the city of Wuhan, those residents who
or leaving a business, the knowledge that
protocols for disinfection and inspection
have been tested for the virus are assigned
people can be contagious without being
across the entire county, as it is expected
QR codes through a government app. For
symptomatic leads to persistent suspicion.
that many of those who have been
those who have been tested and found
trapped in Hubei will begin to venture
f ree of symptoms, their QR code will show
outside to the rest of China. Other cities
up as green, giving them permission to
have said that these people will have to
leave their homes. Those residents without
self-quarantine and endure regular rounds
a green QR code continue to be limited in
of testing to prevent the possible spread
their movement. Despite these measures
of the virus.
and the fact that residents are often checked for temperature when arriving
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Looking beyond conventional financing
CHALLENGES OF RE-OPENING THE ECONOMY
Various strategies are being employed
Since the virus originated in China and
spreading the virus. One factory in Jiangsu
cases first appeared here months before they did elsewhere, the timeline of the virus puts China ahead of much of the world. China, therefore, offers a glimpse into the future for countries still suffering f rom the pandemic at what restarting
to prevent workers from potentially is dividing employees into separate units to keep the workers separated from each other. These units eat, work and sleep in separate areas. As the facilities are not designed for this level of separation, this arrangement is understandably hard to
their economies could look like.
U.S. President Donald Trump continues
The Chinese central bank has so far
to push for the reopening of the economy sooner rather than later, despite the advice of public health officials who have offered timetables as late as November for returning to any semblance of normal life. Such impatience with the lockdown was also seen in members of the Chinese Politburo as early as late February. Perhaps, Chinaâ&#x20AC;&#x2122;s plan is a compromise between these two approaches and shows
avoided the massive stimulus plans proposed in the EU and the U.S. But large parts of these stimulus plans were to prop up industries like the airlines. The Chinese government owns so much of the economy that such measures are simply not necessary.
WAITING FOR THE WEST TO RECOVER?
how to reopen an economy before the
The demand for Chinese exports has
virus has completely disappeared.
been greatly decreased due to the global pandemic. However, things are better
The world was much impressed by the
off for China than they were during
management of the virus by countries
the global financial crisis that occurred
like Singapore, Hong Kong, Taiwan, and
f rom 2007 through 2009. This is because
South Korea. Just as these countries had
domestic consumption now plays a far
flattened the curve and began to resume
more significant role than exports do. But
their normal lives, the number of cases
domestic demand is also low because
began to rise again. It was discovered that
of the lockdown. And even with the
the coronavirus was being reimported
lockdown ending, many continue to avoid
back to Asia f rom the U.S. and Europe.
large gatherings of people. Furthermore,
Whether a second wave of coronavirus
the lockdown has also prevented people
is spreading through China is hard to
f rom going to work and their income has
tell, especially since much of the world
already questions the official government numbers of the first wave.
Many provinces have finally reduced their alert levels and even Hubei province is
One of the challenges of returning to
allowing people outside the capital city to
normal production levels is that much of
travel. It will take time for the population
the country returned home for the spring
to build up enough confidence in the
festival just before the lockdown began.
economy to begin spending again. Once
This meant that they were trapped at
the West has overcome the pandemic,
home and were unable to come to work.
its demand for Chinese manufacturing
The production centres on the coast then
goods should return. However, factories
chartered transportation to bring these
that produce goods for the West are
workers back f rom the inland on trains
facing order cancellations, which will also
and buses. It is difficult to say exactly how
negatively impact the income of Chinese
efficient the operations of the factories
citizens and reduce their ability to spend.
are. There are reports that officials were told to embellish their firmsâ&#x20AC;&#x2122; performance. When an analysis of the electricity usage of factories by government officials was done, some of these factories were told to power up idle equipment in order to make the electricity usage fit the narrative that all is well.
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THE FUTURE AFTER COVID-19 COVID-19 began in Wuhan and while China appears to have overcome the virus as a country, it has yet to overcome it as an economy. It must act decisively to ramp up its production without sparking a second wave of coronavirus due to workers being in close contact and through the import of the virus back from the rest of the world. The Chinese domestic market is now a major force in the Chinese economy, but the decreased demand from the West is causing orders to be cancelled. It will be interesting to see if the recovery of the Chinese domestic market can keep China going long enough for Western demand to come back.
UNIONBANK SELECTED AS ONE OF ASIA-PACIFIC’S TOP 20 BANKS ONLY PHL BANK ON THE LIST
UNIONBANK SELECTED AS ONE OF ASIA-PACIFIC’S TOP 20 BANKS ONLY PHL BANK ON THE LIST
Union Bank of the Philippines (UnionBank) has been named as one of the 20 best banks in the Asia-Pacific region in 2020 by IDC Financial Insights. It is also the only Philippine bank on the list that includes DBS Bank, Shinhan Bank, and Union Bank of the Philippines (UnionBank) has been named Maybank, among other brands. as one of the 20 prestigious best banks in the Asia-Pacific region in IDC Financial Insights is Insights. part ofIt the International Data 2020 by IDC Financial is also the only Philippine Corporation thelist premier global provider of Bank, market bank on- the that includes DBS Bank, Shinhan and intelligence, advisory and events for the information Maybank, amongservices, other prestigious brands. IDC telecommunications, Financial Insights is part the International Data technology, andofconsumer technology - the premier globalaccurate, provider timely of market markets.Corporation IDC Financial insights provides and intelligence, advisory services, and events for the information insightful fact-based research and consulting services. technology, telecommunications, and consumer technology “The 20 best banks are chosen because of the select unique markets. IDC Financial insights provides accurate, timely and capabilities that each of them has that was discovered insightful fact-based research and consulting services.by IDC in a series“The of interviews with C-suite leaders. We develop 20 best banks are chosen because of thewill select unique continuous research suchofas case studies and executive capabilities that each them has that was discovered by IDC seriesthese of interviews with C-suite leaders. We will develop briefingsin awith institutions,” said Michael Araneta, research suchatasIDC case studies Insights and executive head of continuous research and advisory Financial Asia briefings these institutions,” Araneta, - Pacific. “One with important intention of said this Michael program is to
head of research and advisory at IDC Financial Insights Asia - Pacific. “One important intention of this program is to
show that despite the threat of disruption by fintechs and challengers, traditional banks are in fact thriving more than ever.” This award from IDC Financial Insights, which was based show that despite the threat of disruption by fintechs and on the success of UnionBank itself over the years challengers, traditional banks aretointransform fact thriving more than to be ready for a new decade of financial services, validates ever.” the with no was onebased left behind Thisbank’s award digital from IDCtransformation Financial Insights, which promise, as well as dovetails with the numerous on the success of UnionBank to transform itself over the recognitions years to newcountry’s decade of leading financial digital services,bank. validates of be theready bankforasa the theFrom bank’sthe digital with no oneInsights left behind top transformation 20 list, IDC Financial will select promise, as well as dovetails with the numerous recognitions winners for the Financial Insights Innovation Awards 2020 of the bank as the country’s leading digital bank. scheduled later this year. From the top 20 list, IDC Financial Insights will select This is the firstInsights time Innovation that IDC Awards Financial winners for not the Financial 2020Insights recognized UnionBank for its banking innovation. In scheduled later this year. 2018, thenotorganization named the Bank as “Asia’s This is the first time that IDC Financial Insights Leader recognized UnionBank for its banking in Omnichannel Engagement” at theinnovation. Financial InInsights 2018, the organization named thewas Bank as of “Asia’s Leader Innovation Awards (FIIA) that part the Asian Financial in Omnichannel Engagement” at the Financial Insights Services Congress for that year. Innovation Awards (FIIA) that was part of the Asian Financial Services Congress for that year.
THE BOND WATCH IS REVEALED OMEGA is delighted to unveil 007â&#x20AC;&#x2122;s newest timepiece that will feature in the 25th James Bond film, No Time To Die.
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Appearing on-screen will be a thrilling new Seamaster Diver 300M 007 Edition. )LUVW ODXQFKHG LQ WKH 'LYHU 0 has built its legacy with real-life divers and VW\OH DILFLRQDGRV DV ZHOO DV EHFRPLQJ WKH quintessential wrist-wear of James Bond. OMEGA has worked closely on the development of the Bond watch with Daniel &UDLJ DQG WKH Ã¿OPPDNHUV ZKRVH NQRZOHGJH of James Bond has brought invaluable insight to OMEGAâ&#x20AC;&#x2122;s watch developers and designers. Daniel Craigâ&#x20AC;&#x2122;s own experience as 007 has DOVR LQÄ&#x20AC;XHQFHG WKLV H[FLWLQJ Ã¿QDO GHVLJQ ,Q WKH IROORZLQJ SDJHV \RX FDQ GLVFRYHU DOO the Seamaster models that James Bond has WUXVWHG VR IDU 7KHQ Ã¿QG RXW PRUH DERXW the watch that will be seen in No Time To Die.
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 49
THE SEAMASTER DIVER 300M EDITION Looking beyond conventional financing
:KHQ -DPHV %RQG HPEDUNV RQ KLV QH[W PLVVLRQ D QHZ 20(*$ watch will appear on screen. The Seamaster Diver 300M 007 Edition has been purposefully built with military needs in mind DQG ZDV HYHQ GHVLJQHG ZLWK LQSXW IURP DFWRU 'DQLHO &UDLJ 7KLV non-limited watch will be placed in OMEGAâ&#x20AC;&#x2122;s iconic current collection from February - available to customers either on a WLWDQLXP PHVK EUDFHOHW RU D VWULSHG 1$72 VWUDS LQ GDUN EURZQ JUH\ DQG EHLJH ZLWK HQJUDYHG RQ WKH ORRS (DFK PP WLPHSLHFH KDV EHHQ FUDIWHG IURP *UDGH 7LWDQLXP which is used for the case and bracelet with its innovative adjustable buckle. This special material is particularly strong DQG OLJKWZHLJKW PDNLQJ LW SHUIHFW IRU DQ XQGHUFRYHU DJHQW Special new doming of the sapphire-crystal glass has also created a slightly slimmer watch than the standard Seamaster Diver 300M models.
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)RU WKLV ZDWFK 20(*$ KDV LQWURGXFHG DQ DOXPLQLXP GLDO ZLWK D colour that replicates the aged brown hue that certain vintage dials turn over time. This colour tone is referred to by collectors as â&#x20AC;&#x153;tropicalâ&#x20AC;?. The aluminium bezel ring of this watch also features the same colour shade. 2Q WKH FDVHEDFN \RXĂ&#x2122;OO ILQG D VHULHV RI QXPEHUV ZKLFK IROORZ the format for genuine military-issue watches. â&#x20AC;&#x153;0552â&#x20AC;? is a QDYDO FRGH QXPEHU ZLWK Ă&#x203A; Ă&#x153; EHLQJ WKH QXPEHU IRU D GLYHUVĂ&#x2122; ZDWFK 7KH OHWWHU Ă&#x203A;$Ă&#x153; VLJQLĂżHV D ZDWFK ZLWK D VFUHZ LQ FURZQ ZKLOH LV RI FRXUVH -DPHV %RQGĂ&#x2122;V LFRQLF DJHQW QXPEHU )LQDOO\ WKH QXPEHU Ă&#x203A; Ă&#x153; UHIHUV WR WKH \HDU RI WKH YHU\ ĂżUVW -DPHV %RQG ĂżOP
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 51
Looking beyond conventional financing
0 52 | I N T E R N AT I ON AL INVE STO R MAGAZ INE
:KHQ GHVLJQLQJ WKLV FDSWLYDWLQJ QHZ ZDWFK 20(*$ UHPDLQHG LQ close contact with Daniel Craig and the filmmakers. Daniel Craigâ&#x20AC;&#x2122;s LQIOXHQFH DQG DGYLFH SOD\HG D ELJ UROH LQ WKH ILQDO UHVXOW +H VD\V â&#x20AC;&#x153;When working with OMEGA, we decided that a lightweight watch would be key for a military man like 007. I also suggested some vintage touches and colours to give the watch a unique edge. The final piece looks incredible.â&#x20AC;? 7KH QHZ ZDWFK LV FRPSOHWHG E\ D 1$,$' /2&. FDVHEDFN which keeps all of the engravings in correct alignment. ,QVLGH LW LV GULYHQ E\ D SDUWLFXODUO\ LPSUHVVLYH PRYHPHQW Ă&#x2013; WKH 20(*$ &R $[LDO 0DVWHU &KURQRPHWHU &DOLEUH which has achieved the industryâ&#x20AC;&#x2122;s highest standards of SUHFLVLRQ FKURQRPHWULF SHUIRUPDQFH DQG PDJQHWLF resistance. For adventurous customers who choose this Seamaster 'LYHU 0 (GLWLRQ PRGHO LW ZLOO EH GHOLYHUHG LQ an exclusive brown fabric pouch. The watch is waterresistant to 30 bar (300 m / 1000 ft) and comes with OMEGAâ&#x20AC;&#x2122;s full 5-year warranty.
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B .I.C . Markets Expands into Asia with a Strong I B Programme
B.I.C. MARKETS EXPANDS INTO ASIA WITH A STRONG IB PROGRAMME WHO IS BIC MARKETS? BIC Markets is the Forex and CFD division
HOW FREQUENTLY DOES BIC MARKETS PAY THE IB COMMISSION?
IF THE CLIENT DOESN’T PAY EXTRA, HOW DOES A BROKER COMPENSATE THE IB?
of B.I.C. Banking Group. Our objective
The introducing broker is paid in real-time
is to provide traders across the globe
to their secure online Partner Portal. The
At BIC Markets, we rebate the introducing
with cutting-edge technology to trade
introducing broker can then withdraw the
broker a percentage of the spread. The
on the world’s markets. We are driven to
rebates by submitting an online request or
spread is the maximum a straight through
offer traders incredibly low-cost pricing
they can transfer internally to their trading
processing (STP) broker can make. This
across all FX, CFDs and Commodities
means that all of the trades are passed
with the added security of strict financial
onto a liquidity provider and the broker earns the difference in the spread
support. BIC Markets offers a range
WHY DON’T CLIENTS PAY MORE WHEN THEY GO THROUGH AN IB?
of online trading platforms including
The introducing broker refers clients to
and that with the liquidity provider.
MetaTrader 4, WebTrader and mobile apps
BIC Markets, the referral commission is
for iPhone, Android and tablets.
their reward for advertising and referring
WHAT MAKES A SUCCESSFUL IB?
regulation and industry-leading customer
between the transaction with the client
the client. It’s important to BIC Markets
The best way for the introducing broker
WHY IS THE BIC MARKETS IB PROGRAMME SO SUCCESSFUL?
that these clients have the same pricing
to increase their revenue is to use social
as if they came directly to our firm. This
media to promote their referral link.
At BIC Markets, we understand the
ensures that every BIC Markets client has
Some of our best performing introducing
importance of the introducing broker and
the same trading and customer support
brokers manage their own trading blogs
we offer one of the leading programmes
and websites. Facebook adverts are a
in the industry, featuring competitive
valuable tool for the introducing brokers
commissions, marketing tools and
as they can choose the audience and
excellent support. Furthermore, all of our
generate a lot of traffic to their blog or
introducing brokers have access to an
directly to the broker’s website.
online portal where they can view their referred clients’ every trade and rebate.
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WHAT ARE SOME OF THE BENEFITS OF TRADING THE FOREX MARKET?
Global Exposure: Forex trading provides
In terms of specific risks, the forex market
investors with an opportunity to obtain
can present investors with less liquidity
There are several reasons investors might
exposure to economies across the world.
risk because of this particular marketâ&#x20AC;&#x2122;s
By taking a more international approach,
highly liquid nature. In other words, there
traders might diversify more successfully
is less risk that an investor will find himself
or potentially achieve higher returns by
unable to buy or sell a currency pair
putting their money to work in areas that
because he doesnâ&#x20AC;&#x2122;t have another market
have greater potential. Once again, risk is
participant to take part in a transaction.
Accessibility: Forex trading takes place
inherent to investment, so no returns are
Liquidity risk can increase around major
guaranteed and investors must conduct
choose to trade currencies instead of other products. Below are five main points as to why many people choose to trade forex
on many different exchanges across the world, and as a result, investors can make currency trades 24 hours a day during weekdays. The forex market is also the largest capital market in the world, involving more than US$5 trillion in notional value worth of transactions per day.
their due diligence on regions. Low Trading Expenses: Because there are
HOW CAN I OPEN AN ACCOUNT AND TRADE FOREX?
so many buyers and sellers, spreads are
You can easily open an account online
low and trading costs are modest.
with BIC Markets, we accept clients from most countries, however, there are certain
IS IT RISKY TO TRADE FOREX?
jurisdictions we cannot accept.
Like any form of investment, forex trading Liquidity: As there is so much activity, the
involves risk. The currency markets can
global forex markets provide substantial
experience sharp fluctuations, just like
liquidity to traders. While certain assets
the stock, bond or commodity markets.
may be more difficult to buy and sell,
Therefore, investors interested in forex
traders interested in currencies will likely
trading are encouraged to conduct
find substantial opportunities. Liquidity
their due diligence and/or consult an
risk can occur around major news events
independent financial advisor before
if liquidity providers seek to limit their
making any transactions.
exposure to market volatility. Leverage: Investors can potentially access far more leverage when trading currencies than they can when trading other assets. However, it is important to keep in mind that risk is inherent to investment. While using leverage to make larger trades can amplify returns, it can also amplify the size of losses.
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THE RACE FOR A VIABLE VACCINE by Sam Morgan
Coronavirus has shed new light on the
“The bank offers numerous options for
closed down way back in 2008, due to
pharmaceutical sector and healthcare in
companies looking for funding to develop
being squeezed out by cheaper Asian
general. The industry is scrambling to find
the next generation of vaccines in the
a vaccine for the pathogen, but despite
search for solutions to global disease
big investments in a cure, the outbreak is
outbreaks,” said the EIB’s Vice-President,
The subcontinent is still wrestling with
wreaking havoc on supply chains.
its own coronavirus outbreak, which
According to a number of virus
Donald Trump is not the only American
in March to put restrictions on the exports
showing an interest in vaccine
of drugs like simple painkillers and anti-
development, singer-songwriter Dolly
malaria treatment, hydroxychloroquine.
Parton has funded work on identifying
Although that policy was later relaxed
antibodies at a university in Tennessee,
after pressure from Washington, the
which has attracted the attention of global
temporary cut-off has already prompted
pharma giant AstraZeneca.
European policymakers and its drug
prompted Prime Minister Narendra Modi
deconfinement plans drafted by countries around the world, certain aspects of everyday life will only be able to resume as normal once a viable vaccine is identified and rolled out en masse. Large gatherings of people at sporting events or music concerts, as well as full-scale tourism, are likely only to be possible without risk factors once a coronavirus inoculation is available. Given the economic value involved, it is no surprise that big investments into virus research have come thick and fast since the pandemic first hit. One of them, made by the EU, was a response to US President Donald Trump’s courting of a German firm working on a vaccine. Trump was reportedly interested in brokering an exclusive deal with CureVac, prompting the European Commission to intervene with funding worth €80 million. The institution’s President, Ursula von der Leyen, said the cash would help scale up ongoing research, adding that “CureVac’s home is here”. The European Investment Bank, the bloc’s triple-A rated lender, backed the investment after it too saw the potential in the German firm’s approach, which could drastically slash the costs of vaccines if successful.
industry into a rethink over how medicine
NEVER BREAK THE CHAIN
supply chains are structured.
Virus lockdown measures have interfered greatly with global supply chains for
“The crisis has revealed our morbid
medicine. Border closures and mandatory
dependency on China and India as regards
quarantines are obvious causes but
pharmaceuticals,” said the Commission’s
the complete fall-off in demand for
Vice-President, Věra Jourová, on 19
commercial flights has also made an
April. “This is something that makes us
unexpected dent in supply.
vulnerable and we have to make a radical change there.”
Most airlines supplement their already razor-thin profit margins by filling their
According to the Czech official, the EU
aircraft with high-value cargo, much
will reassess the delicate situation so as
of which is often perishable goods and
to boost drug production in Europe. Its
medicine. Europe’s trade volumes are
action plan will be submitted to national
admittedly small, just 2.6% of commerce,
governments and MEPs later this year.
but in value terms, 21% of cargo is shifted But the supply chains issue is not one
where all European countries are on the Planes are still by-and-large grounded,
same page. Despite emergency virus
although plans are afoot to get the
guidelines asking capitals to make sure
industry back in the air. For now though,
cross-border medicine trade continues
there is a gaping hole in the logistics side
unhindered, restrictions remain in place in
of the pharma trade.
Belgium and Hungary.
But it is the situation in China and
“The consequence of export bans are
India, two of the world’s largest drug exporters, that is proving to be most damaging to medicine supply chains.
directly detrimental to the availability of medicines for patients across the EU and globally, as well as risking retaliatory measures from other regions,” warned the European Federation of Pharmaceutical
On 29 April, the EIB - whose mandate explicitly instructs the Luxembourg-based bank to only pursue strong investment options - signed a landmark deal with a global organisation that specialises in developing vaccines for emerging diseases. Under the terms of the agreement with the Coalition for Epidemic Preparedness Innovations, the EIB will provide the group’s members, which are made up of private and public companies, with financial advice and support.
Industries and Associations. The group
Many countries still remain dependent
also urged the EU to make sure that no
on China for medical gear like masks and test kits, which its government has taken advantage of as part of its ‘mask
state takes unilateral action that would block vaccine development or treatments, adding that “no one country can meet all
diplomacy’ efforts, but it is India, the globe’s number one exporter of generic medicines, where the pinch could be truly felt.
its pharmaceutical needs on its own”. The EU insists that its policies will not stray into isolationist or populist territory but the impact of coronavirus suggests that
Europe is hugely reliant on India for
the post-outbreak recovery period will put
medicines that are as ubiquitous as paracetamol, after the region’s last factory
that pledge to the test.
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The pandemic has shaken an already
Coronavirus prompted the EU to relax
That could usher in a new era of domestic
wobbly rules-based multilateral order,
state aid laws to help the economy,
pharma growth or prove to be misguided
as Trump’s attacks on the World Health
unlocking billions in government aid, and
faith in an industry that will always be
Organisation clearly demonstrate, as well
although the bloc’s mighty competition
undercut by more economical options
as the significant lack of coordination
chief, Margrethe Vestager, insists the
elsewhere. Time will tell.
status quo will be restored after the outbreak passes, political sentiment at the moment indicates that any policies that strengthen Europe’s hand will remain in place for the long-run.
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AI-POWERED INNOVATION IN MOBILE BANKING As a bank with an entirely online presence,
The accuracy of AI deposit execution is
au Jibun Bank provides a wide array of
constantly being improved through deep
SUPPORTING PEOPLE’S MONEY MANAGEMENT
smartphone banking services including
learning of all the latest market data.
In April 2019, au Jibun Bank became a
deposits, loans, payments and currency
consolidated subsidiary of au Financial
exchanges with a full banking license
These unique AI-powered services have
Holdings, a 100% owned subsidiary of
obtained in early 2008. The au Jibun Bank
won au Jibun Bank several awards and
was founded as a joint venture between
accolades from around the world, proving
As a member of the au Financial Group, au
KDDI, the second-largest telecom carrier
the value of investing in technology, as
Jibun Bank aims to enhance their services
who runs their business under the brand
well as recognising the company’s skills,
more to support people’s life design from
name ‘au’ in Japan, and MUFG Bank, the
commitment, creativity and execution.
financial aspects, including their asset
largest commercial bank in Japan.
These services were developed in
collaboration with AlpacaJapan Co. Ltd.,
A MOBILE BANKING PIONEER
a start-up company with advanced AI
The au Jibun Bank has been a pioneer in
the mobile banking field, by providing customers with a useful smartphone app that is both easy and fun to use. It’s a one-
As a part of this strategy, au Jibun Bank partnered with IHS Markit in July 2019 by sponsoring Japan PMI (Purchasing
WITHDRAWING CASH WITH A PHONE
Managers’ Index) surveys.
stop app that is home to all the company’s
Another advanced service of au Jibun
The au Jibun Bank Japan PMI is compiled
most recent innovations.
Bank is ‘Smartphone ATM’ (released in
by IHS Markit, based on data collected
March 2017) which allows customers
monthly from around 800 purchasing
Some of the most innovative services
to withdraw or to deposit money at a
or other senior managers in Japan and
of au Jibun Bank are the ones using
Seven Bank’s ATM, by simply scanning a
covers both manufacturing and service
artificial intelligence (AI) technology for
QR-code displayed on their smartphone
foreign currency savings. These AI services
screen – no need to carry a traditional
support Japanese customers who want
cash card! People could find its ATM at
The panel is stratified by detailed sector
to deposit foreign currencies into their au
various places, such as at Seven-Eleven,
and company workforce size, based on
Jibun Bank accounts. They can currently
Ito-Yokado (one of the Japanese general
contributions to GDP. The au Jibun Bank
choose f rom 5 different currencies: US
merchandising stores, under the Seven &
Japan PMI would provide an early insight
dollar, Euro, Australian dollar, South
i Group), as well as airports, stations, and
into the health of the economy. In order
Af rican rand and New Zealand dollar.
branches of financial institutions – the
to support and to expand individual
total number of its ATMs exceeded 25 000
customers’ investment activities, au Jibun
in 2019 and is only expected to increase.
Bank also has a plan to develop app
‘AI Prediction of Foreign Currency Rate’ (released in June 2017) is a service
options that share content related to its
that predicts the future rate of foreign
As cash is still a king with a strong
currencies in order to support customers’
reputation for being reliable in Japan, it is
investment activities. It predicts the rate-
quite common among people to withdraw
Within the banking industry, where
to-come within an hour, within a business
money from ATMs located at convenience
opening up the banking system
day or within 5 business days, then shows
stores, which they would be able to find
Application Programming Interfaces (APIs)
the results using emoticons on the
almost anywhere nationwide. With its
is becoming crucial, au Jibun Bank has
customers’ smartphone apps. This service
high accessibility and friendly usability,
been proactive in collaborating with other
adapted machine learning and image
the number of users has exceeded
market participants, not only with other
feature extraction technologies to analyse
100 000, and it was the first of its kind in
au Financial Group companies but also
huge datasets of historical exchange rates
Japan to allow customers to withdraw or
with other players who provide financial
to provide forecasts that were as up to
to deposit money using smartphones at a
date and accurate as possible.
PMI in the very near future.
Further down the road, the au Jibun Another service is the ‘AI Automatic
bank will not limit itself to act as a service
Savings of Foreign Currency’ (released in
builder but will expand their services by
March 2018), which allows AI to execute
bridging the transactions with others, in
automatic deposit transaction for foreign
order to accompany each of its customers
currency savings at the best single
on a lifelong journey.
moment of that month.
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 6 1
CHAMPIONING THE VALUES OF ETHICAL FINANCE Etica Funds has won Italian Responsible
being a member of the Forum per la
Investor of the Year. We spoke with
Finanza Sostenibile and the EUROSIF
WHAT IS THE DRIVING FORCE BEHIND ETICA’S SUCCESS?
Luca Mattiazzi, the Director-General, to
(European Sustainable Investment
Our strength lies in our belief that
understand what’s behind their success.
Forum), Etica is part of the ICCR (Interfaith
sustainable, responsible investment
Center on Corporate Responsibility) and a
PERHAPS YOU CAN START BY TELLING US ABOUT ETICA FUNDS.
can deliver competitive performance
signatory of PRI (Principles for Responsible
versus the market and, in periods of
Investment) and CDP (formerly the Carbon
high volatility, allows financial risk to be
Etica Funds is the only Italian asset
mitigated more effectively than traditional
management company that exclusively
offers sustainable and responsible mutual
In 2015, the company was the first Italian
funds to private and institutional investors,
asset manager to sign the Montréal
representing the values of ethical finance
Carbon Pledge and commit to measuring
in financial markets.
and reporting the carbon footprint of its investments.
The distinctive character of Etica’s funds is the rigorous selection of securities issued by businesses and countries that show a special commitment to environmental
HOW HAS THE MARKET CHANGED AS SUSTAINABILITY BECAME MORE MAINSTREAM?
Our mission is “to champion the values of ethical finance in the financial markets, raising awareness of socially responsible investments and corporate social responsibility among the general public and financial operators”.
protection, human rights and good
When Etica was established in 2000, it
was definitely more of a niche market.
In other words, to think about investing
Today sustainability and responsibility are
from a long-term perspective, which takes
Etica is in constant dialogue with the
keywords in the financial sector, exceeding
society and the planet into consideration.
management of the companies we invest
$30 trillion of assets under management
in. Etica fully exercises its voting rights
worldwide, with 34% growth in only
All the financial instruments that make
in the shareholders’ meetings to urge
two years and Europe sits at the top of
up the funds of Etica are selected
companies towards more responsible
the rankings, according to the Global
based on careful issuer screening. Our
behaviour and help them achieve this
Sustainable Investment Alliance.
selection process involves both excluding controversial sectors (e.g. oil, arms, nuclear
goal. This strong focus on sustainability and
power and gambling) and targeting the
By embracing Environmental, Social and
responsibility in the financial world is
best ESG issuers.
Governance (ESG) criteria, codified in a
no accident. According to the World
transparent methodology, we can manage
Economic Forum, in only a decade, global
Etica was created out of Banca Etica’s
risk more effectively and seize interesting
risks have shifted from being mainly
desire to make the finance and credit
economic in nature to environmental and
sectors more sustainable and responsible.
social. Not only have these risks become
At the start of our journey, it was very hard
more f requent, but they have also become
to get investors to see that sustainable,
more significant given the extent of the
responsible investment products were a
economic and financial damage they can
different way of investing their savings,
and not charity. We can now say that
For us, the goal of achieving positive financial returns goes hand in hand with generating positive effects for the environment and society. As the last phase of the sustainable and responsible investment process, we measure the impact of our funds’ equity investments, using social, environmental and governance indicators linked to the United Nations’ SDGs (Sustainable Development Goals). Etica is an integral part of a network of excellence in ethical finance: besides
investing in our future and the future of What have we brought to the world of
the planet is possible.
investment? First of all, the very possibility of sustainable, responsible finance, which,
Now, everyone is talking about it. We
in 2000, seemed like an oxymoron. Etica
welcome this, but we believe in the
has legitimised a new and different way
importance of demonstrating the
of investing that, as well as the purely
effectiveness of our strategy through
financial aspect, takes into account other
numbers, data and reporting.
important variables: the environment, human rights, and good corporate governance.
HOW DO YOU SELECT SECURITIES? CAN YOU TELL US MORE ABOUT THE PROCESS?
AND WHAT DOES SHAREHOLDER ACTIVISM MEAN TO YOU?
The careful selection of the securities
the dialogue we cultivate with companies,
that make up our mutual funds is a
is part of engagement, one of the
defining feature of our concept of
most direct strategies for sustainable,
sustainable, responsible investment. Our
responsible investment, and one that we
proprietary methodology, which has a
regard as fundamentally important.
For us, shareholder activism, along with
long track record, only accepts issuers that demonstrate that they are both financially
We have previously decided to link
attractive and, of course, sustainable f rom
engagement activities to the SDGs, the
an ESG perspective.
action plan signed by the governments of the 193 UN Member States to promote
Our ESG Analysis and Research
sustainable economic, social, and
Team, made up of expert analysts of
environmental development. Etica
environmental, social and governance
decided to focus in particular on climate
issues, carries out a double screening
change, water resource management,
process on countries and companies,
biodiversity, respect for human rights, and
to identify the countries that best align
with social and environmental objectives and the companies most sensitive
To act more effectively, Etica teamed
to sustainability issues and collective
up with other responsible investors by
wellbeing, creating the “Investable
joining international networks to boost
Universe” of issuers.
engagement activities at the European level and to coordinate initiatives. Since
One welcome piece of news is that, since
some of your country’s companies are
2019, Etica’s funds have been able to invest
potential investments, who knows? Maybe
in South Korean corporate securities.
in the future, we will be able to tell a story about South Korean shareholder activism.
We base our assessment of issuers on a containing reliable and up-to-date
WHAT ARE SOME OF THE PROJECTS YOU’RE EXCITED ABOUT?
information; affiliated partners such as
All results of the dialogue with companies
range of sources: specialised databases
the ICCR, PRI, CDP, EUROSIF and SfC (Shareholders for Change); and NGOs such as Amnesty International and Legambiente. We also examine research in the specialist press and corporate publications (e.g. financial statements and sustainability reports) and assess information gleaned from direct dialogue with companies. We really seek to look at companies from all angles before deciding whether or not to invest in them. Our assessment of issuers is based exclusively on information f rom authoritative sources, and all news is duly checked to protect us f rom the risk of fake news.
and shareholder activism are presented annually in our Engagement Report, available online in both Italian and English. Etica Funds, along with around 80 other major investors, joined the Access To Medicine Index initiative because, as investors, we want guarantees that the managers of the companies in which our funds invest have considered risks and opportunities related to drug access and pursued policies and processes to manage these challenges. In 2018, our company supported the motions of shareholders of two American companies on the subject of risks relating to the price of medicines. The aim is to help, as far as we can, to recognise the universal right to receive the highest possible level of health care.
Another key issue is climate change. Etica has always been at the forefront of tackling environmental issues. It is a fundamental part of our way of thinking, however, that the environmental approach should always be assessed alongside the social and governance dimension. We embarked on this journey about 20 years ago and our three-dimensional approach is now meeting with growing global recognition, as borne out by the transition to a resilient, low-carbon economy. We believe that divestment is the way forward, but its implications for employment and the wider community should always be evaluated. Etica, therefore, intends to pursue a just transition, in line with the 2015 Paris Agreement on climate change, to accelerate climate action and meet the ambitious SDGs. To this end, we have signed up to the “Statement of Investor Commitment to Support a Just Transition on Climate Change” campaign. In the context of reducing inequality and promoting peace and justice, Etica has been focused on tax responsibility, given that for a company it is strategically important to reconcile economic growth with the correct distribution of resources, adopt transparent fiscal management, adequately remunerate all stakeholders and report on its business activities. We also joined the “Collaborative engagement on corporate tax responsibility” campaign, aimed in particular at companies in the healthcare and ICT sectors, to improve disclosure on taxes paid and encourage the development of responsible strategies in this area.
TAPPING THE SEAS FOR POWER By Sam Morgan
The energy produced at sea could satisfy
unprofitable energy prices and negative
developers to build wind farms. Ideas on
most of Europe’s power needs. Although
the table include relaxed spatial planning rules and stronger incentive schemes.
the blue economy has come on in dribs and drabs lately, the coronavirus outbreak
As a result, the power generated by the
risks turning the taps off altogether. For
seas themselves barely registers in the
DELAYED BY COVID-19
now, at least.
energy mixes of most European countries,
The industry group, WindEurope, is
while offshore wind has struggled to
confident that the energy source’s
Ocean, tidal, and offshore wind power all
establish itself as strongly as onshore has
potential will be enough to see it through,
have a monumental potential to provide
estimating that most countries will aim to
clean energy to our societies, as some
eventually get around a quarter of their
studies estimate that there is capacity
The European Union had planned to debut
to generate anything between 100% and
new rules to help offshore wind later
400% of the planet’s power needs.
this year but the coronavirus outbreak’s
However, the association’s CEO, Giles
impact on the workflow of its executive
Dickson, did concede that “with COVID-19
branch, the Commission, means there will
we are likely to see delays in the
be a delay.
development of new wind farm projects
OBSTACLES TO RENEWABLE ENERGY The prospect of ditching fossil fuels in
power from offshore.
which could cause developers to miss
favour of turbines is a tantalising one but
Details about the strategy are still thin on
the deployment deadlines in countries’
the sector has faced severe obstacles over
the ground but it will reportedly suggest
auction systems and face financial
the years, such as high investment costs,
legislative tweaks to make it easier for
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Coronavirus delays are not exclusive to the
quadruple and wind power double over
an advanced enough stage to roll out en
energy sector but blue economy-linked
the next ten years.
masse. Specific auctions are suggested as an avenue to build interest and bring
power projects can at least count on
demo projects to maturity.
long-term strategies drawn up by Europe’s
“Spain has long been a leader in
governments for the coming decade.
renewables: wind is 20% of their electricity and they create more export revenues
Energy experts have suggested that blue
f rom wind energy than from wine,” Giles
economy energy tech is a perfect fit for
The Paris Agreement on climate change
Dickson said in praise of the government’s
outlying communities in Spain - as well as
obligates countries to cut emissions
other parts of Europe - which cannot be connected to the Iberian peninsula’s main
and limit global warming. Part of that process includes meeting stricter green
Spain was able to commit to such a green
targets in 2030 by switching to renewable
agenda largely because renewable energy
energies, one of the main weapons in the
prices are falling at a consistent rate. Clean
energy is rapidly becoming economically competitive with nuclear, coal and natural
Spain was the latest major country
gas, a fact that Madrid has recognised.
to submit its finalised plan and it has
Interest in the clean energy potential of our seas is not an exclusive domain of the environmentally-minded either, as the fossil fuel industry is also
received widespread accolades f rom the
In its strategy, it also acknowledges
making bolder and more effective
ecological community for the scope of its
the “huge potential” of ocean and tidal
forays into the sector.
ambition. Solar power capacity is set to
technologies but insists they are not at
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This is significant for countries like France
Equinor’s floating behemoths are not
Norwegian gas and oil giant Equinor
and those located in the Mediterranean,
purely a force for green good though, as
- formerly Statoil - has made a name
which has so far been off-limits to wind
the energy major was granted permission
for itself in the offshore wind sector by
earlier in April to build another farm far off the Norwegian coast. But that installation
pioneering massive floating turbines, the largest examples of which are taller
The French government, in particular, is
- due to come online in 2022 - will not
than Big Ben. Its Hywind wind farm off
interested in ramping up its insignificant
power Scottish homes, it will fuel Equinor’s
the coast of Scotland was the world’s first
wind capacity and tagging turbines with
fossil fuel exploration efforts.
major floating installation and has peaked
tidal power generators where possible.
interest in building turbines in deep water,
President Emmanuel Macron has pledged
where conventional technology simply
to scale back his country’s reliance on
nuclear energy and cheap wind is a candidate to fill the gap left by atomsmashing.
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It is touted as a world first and the project’s architects claim it will reduce the firm’s carbon footprint by 200,000 tonnes of carbon dioxide every year. Industry rivals Shell and Total are also forging ahead with their own greening efforts.
Given the volatile nature of oil markets, which have only just been placated by an OPEC agreement on cutting output, fossil fuel producers and other investments see the low return but low-risk nature of offshore as being increasingly attractive. The virus outbreak’s huge impact on the world economy could end up funnelling more money into mature clean energy sources for that very reason.
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I’m in! He l ping C e ntral American non-profits grow
I’M IN! HELPING CENTRAL AMERICAN NON-PROFITS GROW Since the launch of the Yo me uno initiative in Costa Rica in 2014, more than 185 organisations have joined the programme, which is now established throughout Central America. Yo me uno (meaning “I’m in”) is one of BAC Credomatic’s initiatives focused on the development of Central America. The objective of the platform is to help non-governmental and nonprofit organisations grow, through the fundraising platform, as well as through training programmes designed to improve the organisations’ managerial capacity.
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“We set out to provide a space where
As part of the Yo me uno programme,
we do to support the organisations and
NGOs would make known the work
BAC Credomatic regularly hosts events
their causes, so that they can continue
and trainings, to enable networking
contributing to the growth of our
opportunities and promote the exchange
countries,” Nagel said.
they do and receive support from people and companies that identify with their cause,” said Monica Nagel,
of best practices between NGOs and non-profits. Thus, the programme aims
If you are an NGO or non-profit
to improve the administrative capacity,
organisation, or if you want to get involved,
Relations and Sustainability at BAC
financial governance, and marketing
please visit www.yomeuno.com, look for
muscle of these organisations, to allow
your cause of choice, and contribute with
them to grow sustainably and continue
just one click!
Yo me uno is the only regional
making a positive impact in the countries
e-commerce site designed specifically for
where they operate.
Regional Director of Corporate
NGOs and non-profits. Over the past five years, Yo me uno has raised more than
“During 2019, we had different events in
$2 million in donations for the different
Costa Rica, Honduras, Panama, and El
causes registered on the platform. This
Salvador, where we shared experiences
is in addition to the non-cash donations
and practical tools such as best practices
(think physical goods and volunteer time),
in digital marketing, and provided
which are also donation options that the
more information about our regional
donation portal. This is an investment
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 07 1
I’m in! He l ping C e ntral American non-profits grow
FIVE-STAR LUXURY IN THE CANYAMEL VALLEY As part of Cap Vermell Group, the Park
innovative Asian dishes. VORO, the
eight elegant and versatile conference
Hyatt Mallorca has been designed as
Michelin Star-awarded restaurant at Park
and event rooms. The meeting spaces
a traditional Majorcan hilltop village,
Hyatt Mallorca, offers a bold gastronomic
are equipped with the latest technology,
drawing inspiration f rom local art and
proposal, designed by chef Álvaro Salazar.
including one spacious room, Ca Nostra,
cultural heritage. It features 142 spacious
Two tasting menus (Voro and Devoro)
with a show kitchen to make sure your
guest rooms and 16 exquisitely designed
and a wine list with 200 national and
events are unique and unforgettable.
suites, all enriched by private terraces
international references. The kitchen
overlooking the verdant valley or the
uses seasonal products, mostly from the
The Serenitas Spa is an oasis where
Balearic Islands, for dishes that change
guests can find serenity and balance.
with the seasons.
Seven treatment rooms, including two
INNOVATIVE FLAVOURS WITH REGIONAL FLARE
THE IDEAL VENUE
by local minerals and locally harvested,
The resort offers exceptional dining
Planning a dream wedding or an
organically grown fruit, vegetables, herbs
options, fusing innovative flavours with
elegant event? A resort with a plethora
authentic regional flare. Guests can taste
of activities, look no further than Park
specialities from Mallorca, Catalonia
Hyatt Mallorca. The hotel offers the
Making the most of the warm
and mainland Spain in the chic and
Park Ballroom, an ideal indoors venue
temperatures from April to November,
convivial atmosphere of the Balearic
for large events, which boasts a vast
Park Hyatt Mallorca offers a wide range
restaurant. Guests can also experience the
terrace overlooking the valley and the
of recreational facilities for wellness fans
famous Spanish ritual of tapas. For more
Mediterranean Sea. It also features Cap
and thrill-seekers alike. The landscaped
adventurous palates, the Asian restaurant
Vermell Residences, a unique venue
poolside terrace features three swimming
offers a menu of both traditional and
of over 1,000 square metres, featuring
pools, two of which are heated, and a
couple rooms, house therapies inspired
separate children’s pool.
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The Cap Vermell Country Club, adjacent to the resort, has the latest technology for indoor sports, offering a comprehensive programme of guided courses and personal training and boasts a 25-metre covered semi-Olympic pool.
IN THE HEART OF THE MALLORCAN COUNTRYSIDE Those looking to explore the beautiful, rugged countryside in this undiscovered corner of eastern Mallorca will be able to enjoy Alpine walking, horseback riding, as well as on and off-road cycling. On the warm waters of the Balearic Sea, guests will have the option of trying their hand at sea fishing and a range of active water sports, such as sailing, kayaking and paddleboarding. Within 15 minutes of the hotel, guests will have a choice of four superb golf courses, including a full 18hole course, adjacent to the resort.
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More than T rading :
MORE THAN TRADING: BDSWISS ON BECOMING A THOUGHT LEADER IN THE FOREX INDUSTRY In a rapidly evolving forex arena, brokers seeking to remain
Anticipating its tradersâ&#x20AC;&#x2122; need to make sense of the financial
competitive need to not only keep up with the latest innovations
markets, BDSwiss has established itself as a reliable go-to source
but also lead the field with a unique offering that cements
of market commentary, complete with daily market briefs, weekly
their market presence. As more and more brokers jump on
and yearly outlooks, expert reports and projections, live webinars
the bandwagon of low spreads and multilingual support, true
and expertly-hosted educational seminars.
innovation requires solid inf rastructure, excellence in operations, proper funding and the right resources. Always seeking to offer
BDSwiss understands that the main objective of every trader is
its clients more than trading, BDSwiss affirms its position as a
to be able to confidently trade the markets. This requires finding
thought leader through expert education, multilingual support
reliable and up-to-the-minute sources of market analysis which
and world-leading market research.
are easy to follow and can help them anticipate the next big price trend to trade. BDSwiss addresses this need for constant access to expert commentary and live analysis as well as fintech innovation that allows for trend recognition and trade automation.
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EXPERT COMMENTARY Exemplifying the importance of a highquality educational offering, BDSwiss’ Investment Research is headed by veteran fundamental analyst, Marshall Gittler, who provides daily, weekly and quarterly market briefs along with exclusive projections on the markets. Marshall’s extensive commentary offers BDSwiss traders an expert’s view into the current state of the markets and how its possible impact on the forex markets.
daily live webinars in more than five
coordination, innovation and considerable
different languages. Addressing the
investment but it has been well-received
needs of traders of all levels, the webinars
by both clients and partners who consider
allow BDSwiss clients to interact with the
this a unique advantage for traders who
broker’s team of analysts and vary from
wish to stay ahead of the markets. Tuning
introductions to basic trading concepts to
in to the client’s needs and supporting
tutorials, morning briefs, special strategy
them throughout their trading journey is
webinars and even live trading sessions
what lays at the foundation of BDSwiss’
during key market events such as the NFP
pledge to give its clients more than
ABOUT BDSWISS GROUP:
While offering true market insight is a
BDSwiss Group is a leading financial
Marshall’s analysis is regularly referenced
really powerful advantage for any financial
group, offering forex and CFD investment
and quoted by world-renowned business
institution, in a rapidly evolving financial
services to more than a million clients
and financial news networks including
arena, it is also essential to equip clients
worldwide. BDSwiss as a brand was
Reuters, Nasdaq and Marketwatch
with the latest platforms and tools;
established back in 2012 and has been
amongst others; while he also appeared
which is why BDSwiss has invested in
providing top-class products, a wide range
on CNN, BBC and Bloomberg News.
integrating world-leading platforms
of platforms, competitive pricing and fast
Recognised by the global financial
including MetaTrader 4 and MetaTrader
execution on more than 250 underlying
community, Marshall’s 30-year career
5. Constantly seeking to improve user
CFD ever since. BDSwiss complies with a
spans high-profile positions in elite banks
experience through easy-to-navigate
strict regulatory framework and operates
including UBS, Merrill Lynch, Bank of
dashboards and user-friendly apps, the
its services on a global scale under
America, BoC and Deutsche Bank, where
broker also features a natively-developed
different entities. With over 200 personnel,
he headed the FX Committee for Deutsche
WebTrader platform and a multi-awarded
BDSwiss Group’s holding company is
Bank Private Wealth Management. As
app. Focusing on offering clients a truly
located in Zug, Switzerland and maintains
Head of BDSwiss’ Investment Research,
superior service, BDSwiss allows for trade
its operating offices in Berlin, Germany
Marshall was able to bolster BDSwiss’
automation through stop and pending
and Limassol, Cyprus.
Research & Analysis section and establish
orders, EA integration, and automated
it as a reliable and unique source of
analysis through its complimentary
market scanning tool, Autochartist.
EXPANDING IN NEW REGIONS
As a perfect complement to its
Bringing its educational offering full
fundamental offering, BDSwiss also caters
circle, BDSwiss also hosts a large number
to the needs of technical traders looking
of seminars on a global scale, from
for reliable trend and pattern analysis. In
Berlin to London, to Colombia and Kuala
his daily webinar sessions and technical
Lumpur. BDSwiss hosts and sponsors
briefs, leading BDSwiss market analyst
local educational events featuring key
and professional trader, Frank Walbaum,
industry figures, expert trading coaches
dissects charts and sentiment to provide
and guest speakers in every corner of
actionable trading opportunities and
the world. Staying true to its mission of
technical setups across different asset
giving its traders and partners more,
classes in both English and German.
BDSwiss supports its local partners by helping them expand their network but
With markets constantly on the move,
also educates traders through multi-
time is of essence when it comes to
level trading seminars presented by true
providing any form of analysis, which
is why BDSwiss maintains multiple distribution channels; f rom articles to
BDSwiss seeks to disrupt the financial
emails, dashboard plugins, real-time
services industry by maintaining a
Trading Alerts and live webinars, BDSwiss
forward-thinking approach and investing
gives clients a wide array of avenues
in continuous innovation and fintech
through which to get they can get their
solutions that redefine the world of
daily scoop on the markets. Giving traders
online trading. Creating a holistic
direct access to true industry experts in
educational approach has been no easy
real-time, BDSwiss also hosts multiple
feat for BDSwiss as it requires cross-team
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 075
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TOYOTA TO BUILD PROTOTYPE CITY OF THE FUTURE Toyota has revealed plans to build a
and artificial intelligence in a real-world
intelligence (AI) technology... in both
prototype city of the future on a 175-
the virtual and the physical realms... maximising its potential,” said Akio
acre site at the base of Mount Fuji in Japan. Called the Woven City, it will be a
TESTING FUTURE TECHNOLOGIES
Toyoda, President of the Toyota Motor
fully-connected ecosystem powered by
“Building a complete city from the ground
hydrogen fuel cells. The groundbreaking
up, even on a small scale like this, is a
for the site is planned for early 2021.
unique opportunity to develop future
Toyota is extending an open invitation to
technologies, including a digital operating
collaborate with other commercial and
Envisioned as a living laboratory, the
system for the city’s infrastructure.
academic partners and invite interested
Woven City will serve as a home to full-
With people, buildings, and vehicles all
scientists and researchers from around
time residents and researchers who will
connected and communicating with
the world to come work on their very own
be able to test and develop new and
each other through data and sensors, we
projects in this one-of-a-kind, real-world
emerging technologies such as autonomy,
will be able to test connected artificial
robotics, personal mobility, smart homes
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“We welcome all those inspired to
For the design of Woven City, Toyota has
“A swarm of different technologies are
improve the way we live in the future,
commissioned Danish architect, Bjarke
beginning to radically change how we
Ingels, Founder and Creative Director,
inhabit and navigate our cities. Connected,
Bjarke Ingels Group (BIG). His team at BIG
autonomous, emission-free and shared
have previously designed many high-
mobility solutions are bound to unleash
profile projects: from 2 World Trade Center
a world of opportunities for new forms
in New York and Lego House in Denmark,
of urban life. With the breadth of
Toyoda, president, Toyota Motor
to Google’s Mountain View and London
technologies and industries that we have
been able to access and collaborate with
to take advantage of this unique research ecosystem and join us in our quest to create an ever-better way of life and mobility for all,” said Akio
from the Toyota ecosystem of companies, we believe we have a unique opportunity to explore new forms of urbanity with the Woven City that could pave new paths for other cities to explore.” Bjarke Ingels, Founder and Creative Director, BIG.
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DESIGNING THE CITY The masterplan of the city includes the designations for street usage into three types: for faster vehicles only, for a mix of lower speed, personal mobility and pedestrians, and a park-like promenade for pedestrians only. These three street types weave together to form an organic grid pattern to help accelerate the testing of autonomy. The city is planned to be fully sustainable, with buildings made mostly of wood to minimise the carbon footprint, using traditional Japanese wood joinery, combined with robotic production methods. The rooftops will be covered
Residences will be equipped with the
Both neighborhood parks and a large
latest in human support technologies,
central park for recreation, as well as
such as in-home robotics to assist with
a central plaza for social gatherings,
daily living. The homes will use sensor-
are designed to bring the community
based AI to check occupantsâ&#x20AC;&#x2122; health, take
care of basic needs and enhance daily life, creating an opportunity to deploy connected technology with integrity and trust, securely and positively.
Encouraging human connection will be an equally important aspect of this experience.
To move residents through the city,
Toyota plans to populate Woven City with
only fully-autonomous, zero-emission
Toyota Motor Corporation employees and
vehicles will be allowed on the main
their families, retired couples, retailers,
thoroughfares. In and throughout Woven
visiting scientists, and industry partners.
City, autonomous Toyota e-Palettes will be
To begin with, the plan is based on an
used for transportation and deliveries, as
initial population of 2000, with room for
well as for changeable mobile retail.
growth as the project evolves.
in photovoltaic panels to generate solar power in addition to power generated by hydrogen fuel cells. Toyota plans to weave in the outdoors throughout the city, with native vegetation and hydroponics.
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provide our clients with a multitude
through our superior research quality,
investment services, pension services,
of financial solutions and products
asset management track record and
cross-border tax solutions, insurance and
delivered in the most cost-efficient way.
value-adding financial advisory services.
lifestyle solutions. • Partnerships with world-class service
Our activities are divided into two
As an international expatriate or localised
providers: We work with the best
distinct parts. We offer traditional asset
foreigner, you have specific financial
auditors, lawyers, underwriters
management, providing a wide range of
opportunities and challenges to manage.
and brokers to help you reach your
services to diverse client groups through
We tailor our financial advice and tax
company’s growth goals.
pension plans, wealth management,
solutions to you and your family. You will have access to your own dedicated Wealth Manager as well as our whole team of financial experts who will consider your
• A world-class team: Our aim is to create a diverse and global workforce who feel inspired to deliver brilliant results.
discretionary savings plans, trust services and stockbroking execution. Our investment philosophy explains
individual situation in depth. We are a
Our local expertise and global reach allow
the way we manage investments.
Swiss-registered limited company with our
us to offer customised solutions to our
This philosophy focuses on delivering
head offices in Geneva.
consistent returns to our clients and is shaped by two overarching principles: value investing and risk management. .
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RD WINNERS AU JIBUN BANK
Banque du Caire
au Jibun Bank was founded in 2008
BAC Credomatic Group evolved from
Founded in 1952, Banque du Caire is an
as a joint venture between Japanese
Banco de América Central, which
avid contributor to the Egyptian economy,
communications company KDDI
began in 1952 in Managua, Nicaragua.
as one of Egypt’s top banks. Banque du
Corporation and The Bank of Tokyo-
Headquartered today in San José, Costa
Caire has played an instrumental role in
Mitsubishi UFJ. From the very start, the
Rica, this dynamic banking group is now
effectively and efficiently supporting the
bank decided on a mobile approach and
present in many countries across Central
national economy across all sectors.
became a pioneer when deploying the
America, including Costa Rica, Guatemala,
first banking application for smartphones
El Salvador, Honduras, Panama and
Banque du Caire offers its clients a full
range of value-added products and
As a mobile-only bank, it provides various
To meet the needs of its customers, BAC
level of customer service. The bank has
banking services fully available via its
Credomatic operates under a united
been keen on offering a diverse range of
mobile application, such as account
regional approach, promoting a culture
stand-alone and packages of products
opening, balance inquiries, money
of organisational alignment, measured
and services that satisfy all segments
transfers, foreign currency deposits as
by the standards of world-class financial
of customers’ evolving needs, while
well as Japanese yen deposits. au Jibun
contributing to the revitalisation of the
services and ensuring an outstanding
economic cycle and development.
Bank distinguishes itself with its mobile offering: around 80% of its services can be
The group has now implemented
accessed f rom a smartphone.
online and mobile banking in Panama,
Within the retail sector, Banque du Caire
Costa Rica, El Salvador, Guatemala,
offers various innovative and competitive
One of its most popular services is the
Honduras and at home in Nicaragua.
products and services. On the corporate
Smartphone Debit Card, which has
While such cross-border strategy is not
front, the bank plays an effective role in
attracted Japanese people with its high
without financial and legal hurdles, BAC
financing the vital sectors of the national
usability; 10,000 accounts were opened
Credomatic has adapted accordingly as it
economy through participating in the
within eight days of launch in April 2019. It
became the first Central American local
syndicated loans serving different sectors,
offers a virtual debit service for customers
bank with a mobile banking app.
besides its vital role in financing the SMEs
that is usable both online and offline,
and microfinance projects.
making payments via the app without the usual plastic card – the first of its kind in Japan.
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 83
Founded in Phnom Penh in 2017, B.I.C.
Currency.com is the world’s first
Deltamark Fund Management Ltd.
Markets is an award-winning derivative
regulated tokenised securities platform.
is a pioneering AIFM firm, managing
broker offering clients access to forex,
It’s a one-stop place to trade over 1,300
numerous Alternative Investment Funds
metals and commodities via metaTrader 4.
tokenised assets including stocks, indices,
with multidisciplinary strategies covering
The trading services and facilities are open
commodities and FX pairs with crypto and
private equity, real estate, hedge funds,
to both retail and institutional clients.
fiat at competitive prices.
fixed income, and multi-strategy funds
Our policy is to provide the best possible
We offer the tightest spreads and up to
positioning and exposure has allowed
trading conditions to clients and allow
1:500 leverage. We ensure deep liquidity
them to build an infrastructure and solid
both scalpers and traders using expert
and split-second order execution (50 M/
network, including major global credit
advisors unrestricted access to our inter-
sec). We enable cutting-edge trading on
institutions and finance houses. This
bank liquidity. B.I.C. Markets is positioning
charts and 75 accurate technical indicators
provides immense access to knowledge,
itself as the forex broker of choice for
to spot the best trading opportunities.
solutions, and economies of scale to the
in other categories. This diverse market
funds under their management; adding
traders worldwide who want more security than trading with a traditional broker. B.I.C. Markets offers various accounts
Currency.com’s award-winning platform
unprecedented value to funds of different
is fully regulated and compliant with the
best-in-class security standards.
types, trading software and tools to
Operating out of Cyprus since 2014, the
facilitate individuals and institutional
company’s strength lies in its expert
customers to trade online. B.I.C. Markets
multilingual team who are handpicked
provides an unparalleled variety of
from diverse backgrounds within the
account options that clients can select to
financial services industry. This team
enjoy a tailored trading experience that
has realised multiple projects for
perfectly suits their needs.
entrepreneurs, family offices, and medium to large-sized management houses, as a holistic solution provider. With a problem-solving approach, Deltamark adeptly nurtures Funds from start-ups to matured projects requiring growth and expansion.
0 84 | I N T E R N AT I ON AL INVE STO R MAGAZ INE
EURO EXIM BANK
IBH INVESTMENT BANK
Founded in 2000, Etica Sgr is an asset
Euro Exim Bank Limited is an innovative
IBH Investment Bank Limited was
management company that exclusively
global financial institution with its head
incorporated on 9th July 2009 and
offers sustainable and responsible mutual
office in St. Lucia and a representative
is wholly-owned by its bank holding
funds designed to represent the values
office in London.
and focus the attention of the public
We hold a “Class A” international banking
IBH Investment Bank is licensed to
on socially responsible investment and
license from Financial Services Regulatory
operate conventional banking, corporate
corporate social responsibility.
Authority (FSRA) of St. Lucia so we can
or personal fund management, consulting
conduct business with third parties across
and advisory services relating to corporate
The company has signed up to the
industries and geographies worldwide,
and investment matters, loans and
United Nations Principles for Responsible
exercising strong due diligence, full
credit facilities, risk management and
Investment (PRI) and was the first
compliance and operational excellence in
investment activities, forex transactions,
Italian asset manager to make concrete
interest rate swaps, dealings in derivative
of ethical finance in financial markets
a commitment on climate change by
instruments or derivative financial
signing the Montréal Carbon Pledge
We cater to a range of trade finance
beginning in 2015.
instruments such as instant letters
of credit, corporate bank accounts,
Headquartered in Labuan International
In the pursuit of its statutory mission and
letters of credit, stand-by letters of
Business and Financial Centre, IBH is
in its relationships with all stakeholders,
credit, international wire transfers, bank
strategically located in the heart of the
Etica Sgr sets out to be as economically
guarantees, and trade credit lines.
Asia Pacific region. Rapid development of
effective and efficient as possible, while
the business has pushed IBH Investment
at the same time attentive to governance,
There is a supervised practice of strong
Bank to set up two business marketing
social and environmental issues.
Anti-Money Laundering compliance
offices in Malaysia’s capital city to provide
policy and a comprehensive Know-Your-
better opportunities for Asian economic
Customer process and our competent
team of specialist are highly trained to detect, deter and prevent the use of
Through its international investment
Euro Exim Bank as a conduit for illegal
banking affiliations, IBH Investment
Bank has access to more than 915 correspondent banks in over 80 countries.
We deploy the latest technology to ensure
The bank is capable of handling all
uninterrupted payment processing and
major global currencies, with a strategic
issuance of trade finance instruments
alliance network of overseas financial
f rom a single point within a shorter period
corporations. Currently, the bank’s market
covers Europe, Middle East, United States, Southeast Asia and China.
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 85
InstaForex was established in 2007
Invest Durban acts as a partnership
Panthera Solutions Sarl is an Applied
by the InstaForex Group for providing
between the Metro City Council and
Behavioral Finance specialist, based in
top-quality brokerage services to clients
the private business sector, offering a
the Principality of Monaco. Our Intuitive
worldwide, particularly those f rom the
f ree investor advisory service, plus key
Behavioral Design solutions empower
CIS countries, Southeast Asia, and Eastern
promotion, facilitation, aftercare services
asset managers and asset owners to
Europe. Nowadays, the companies
between all investment stakeholders.
significantly, lastingly and measurably
operating under the InstaForex brand
improve their investment decision quality.
offer innovative trading services to a
Invest Durban delivers a world-class
vast clientele including more than seven
Metro based investor support service,
Panthera Solutions Sarl is more than
encompassing our four-part business
a company. It is a think tank, an agent
mandate, namely investment promotion
to facilitate directed change. Panthera
InstaForex offers its customers vast
and marketing; foreign investment
Solutions embodies the idea that market
opportunities for effective work on the
identification, attraction and facilitation;
complexities can be mastered most
international forex market, providing
FDI aftercare and expansion, plus
effectively with empowered market
a variety of investment services f rom
participants that are supported by aligned
registering a new account to profit
teams and a robust choice architecture.
withdrawal as well as on-time technical
Invest Durban works closely with the
This combination put in action transpires
and client support.
Department of Trade & Industry including
professional investment management into
Invest SA, Trade and Investment KZN
a crafted, skilful art.
From the very start, InstaForex has tailored
(TIKZN), the Durban Chamber of
its services to the customers’ needs.
Commerce and Industry, the KZN Growth
Our academic and commercial success
Streamlining our products, services, and
Coalition, and state-owned enterprises
has proven our intervention framework
continuously improving technologies to
such as Dube Trade Port, the DBSA, IDC,
to significantly improve the investment
maintain our leading position, InstaForex’s
Eskom & others. Key partners include the
decision quality of our clients.
priority is providing superior trading
largest banks, audit and advisory firms,
services to its clients.
plus sector-based organised business
Over the years, a diverse range of asset
bodies working in concert to promote
managers and asset owners across
investment in Durban.
different cultures, sizes and levels of sophistication trusted our service. Clients of our coaching, consulting and behaviour-tech solutions aggregate to more than €100 billion in assets under consultancy since inception.
0 86 | I N T E R N AT I ON AL INVE STO R MAGAZ INE
TURNKEY TRADING PARTNERS
SDB bank is a licensed specialised bank
T Bridge Venture Partners is a dynamic
Turnkey Trading Partners is an award-
regulated by the Central Bank of Sri Lanka
and focused venture capital firm investing
winning derivatives consulting firm. We
& listed on the Main Board of Colombo
in companies. We are a team focused
offer customised support to the brokerage
Stock Exchange with a Fitch rating of
on bridging the gap for investment in
and trading industry. Since the company’s
BB + (Stable). It offers a wide range of
startup firms and driving them onwards
formation in 2008, Turnkey has grown
financial services for a clientele of all walks
across the bridge to success and growth.
into a leading provider of operational,
of life. The bank’s main focus is to provide
We understand the needs of startups
compliance, and accounting solutions
groundbreaking financial solutions to
to grow in a fostering and encouraging
around the globe. Our customers are
the SME & Cooperative sector. The bank
environment. Backing firms that are
located on five continents and hail from
is proud of its 94-branch network & over
dynamic, creative and impactful in nature
dozens of countries.
5000 ATM points which brings SDB that
across the following sectors globally across
much closer to the end consumer.
the following regions UK, Europe, Africa,
The Turnkey team is made up of former
regulatory examiners, career CPAs,
SDB bank was also able to secure three
and other highly specialised industry
awards at the Asian Banking & Finance
We strongly believe in co-creative
professionals. We are knowledgeable in
Awards 2019 for the Financial Inclusion
collaboration. that’s why we bring in a set
virtually all trading and brokerage industry
Initiative of the year, the Advertising
of professionals that are experienced in
matters related to commodity futures,
Campaign of the year, as well as Rural/
their sectors when we invest in firms, to
options, swaps, forex, digital currency,
Cooperative Bank of the year. The direct
help them grow, succeed and prosper.
cash and physical trading, as well as
connection SDB bank has to over 8500
several other specialized financial markets
Cooperatives is a key factor in making an
Startups that have creative solutions to
internationally recognised mark in this
existing problems, entrepreneurs that
have a strong sense of will to unfold their
Our central offices are located in
vision and teams that have the tenacity
downtown Chicago, the alternatives
The bank also has secured the attention of
and drive to execute them. We consider
trading capital of the United States. We
few international investors which includes
them to be as much our clients as our
also have an office servicing international
International Finance Corporation (IFC) &
investee companies, we are here to
customers conveniently located for year-
attracting significant investments in the
serve and grow with our companies and
round travel within the greater Miami area.
ultimately to help them flourish.
I N T ER N AT I ON AL I NVESTOR MAGAZ INE | 0 87
Union Bank of the Philippines
Founded in 2007, Whitestar Asset
(UnionBank) is a publicly-listed universal
Solutions, S.A. is the leading servicer in
bank. UnionBank’s superior technology
Portugal managing credit portfolios.
allows the delivery of online, real-
Our expertise covers performing, sub-
time business solutions to meet the
performing and non-performing loans,
customers’ changing and diverse needs
complemented by a range of related
through innovative and customised
services such as advisory, real estate
cash management products and service
management, securitisation and
structuring, analytics and related loan portfolio investment services.
The bank offers a range of products and services, such as deposit and related
In 2015, Whitestar was acquired by Arrow
services; corporate and middle-market
Global Group PLC (U.K.) and is now
lending, and consumer finance loans, such
integrated into one of Europe’s largest
as mortgages, auto loans and credit card;
and fastest-growing providers of debt
investment, treasury and capital market;
purchase and receivables management
trust and fund management; remittance,
cash management and electronic
Being part of Arrow Global Group and
banking, and preneed insurance.
following the group’s strategy, we aim to provide a full range of asset management
Its unique branch culture ensures efficient
services where our interests are aligned
and quality service as well as mitigates
with the ones of our partners.
operational risk. Centralised operations enable the bank to provide responsive,
The company has roughly 500 employees,
scalable, and secure transaction
in offices in Lisbon and Porto.
processing. UnionBank has always been among the first to embrace technological innovations to empower its customers. With this, it has consistently been recognised as one of Asia’s leading companies, ranking among the country’s top universal banks in terms of profitability and efficiency.