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☆ Saudi Arabia Tells West to Fix Its Energy Problems With More Investment
▼ + stars: | 2022-10-26 | by ( Summer Said | Michael Amon | ) www.wsj.com time to read: 1 min

RIYADH, Saudi Arabia—As the West looks to Saudi Arabia for higher oil production amid elevated prices, the kingdom’s officials used an international investment conference here to send a message: Do more to solve energy problems on your own. Amid a diplomatic spat with the U.S. over oil-production levels, the kingdom took advantage of the opportunity of having the ear of thousands of global investors, government officials and business leaders to deliver the view from Riyadh.

☆ America's top bankers worry more about the world than a recession
▼ + stars: | 2022-10-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The relationships of the Western world would have me far more concerned than whether there’s a mild or slightly severe recession [in the United States],” he added. “Saudi Arabia and the United States have been allies for 75 years. Fix social media but keep innovatingSchwarzman also highlighted rising interest rates and “the problems of relationships among countries” as the major challenges facing businesses. To that list he added social media. “One of the things that we’re almost not aware of is how difficult it is for governments to function in a world of social media,” Schwarzman said.

Its ultra-loose stance has accelerated Japanese investment flows abroad, helping to turn the yen's slump into one of historic proportions. Its net international investment position, the difference between the stock of assets it holds overseas and stock of Japanese assets held by foreigners, was $3.29 trillion at the end of June. International Monetary Fund figures show that of Japan's $9.96 trillion assets overseas, around $3.7 trillion is in equity-related investments, and some $5.7 trillion in debt instruments, including official reserves. Deutsche Bank strategist Alan Ruskin says a YCC change could have spillover effects that could last for a few weeks. Meanwhile, Japanese retail foreign currency deposits at domestic banks rose to 26.58 trillion yen ($182 billion) at the end of August, up 8.3% since the start of the year.

☆ Norfund, BII, Finnfund invest $200m in African forestry fund
▼ + stars: | 2022-10-19 | by ( Rachel Savage | ) www.reuters.com time to read: +2 min

JOHANNESBURG, Oct 19 (Reuters) - The Norwegian, British and Finnish development finance arms have put $200 million into an African forestry fund, the organisations said on Wednesday, as part of a plan to invest in sustainable tree businesses in the region. Norfund has put $76 million, British International Investment (BII) $75 million and Finnfund $48 million into the African Forestry Impact Platform (AFIP), a fund run by Sydney-based forest investor New Forests. Getting companies in these sectors to curb emissions is seen as crucial to limiting climate change. New Forests, which said in May it was being acquired jointly by the Japanese companies Mitsui and Nomura, said it plans to raise a further $300 million for the African forestry fund in the next two to three years to invest in other plantation owners and related companies. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rachel Savage; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

The 465-foot superyacht "Nord", owned by the sanctioned Russian oligarch Alexey Mordashov is seen docked, in Hong Kong, China October 7, 2022. REUTERS/Tyrone SiuHONG KONG, Oct 11 (Reuters) - Hong Kong leader John Lee said on Tuesday there was "no legal basis" for the city to act on Western sanctions, when asked about a Russian yacht berthed in the financial centre that belongs to a sanctioned Russian oligarch. Hong Kong authorities were criticised by the U.S. State Department for allowing a luxury yacht belonging to sanctioned Russian oligarch Alexey Mordashov to dock in Hong Kong waters last week. Instead, Lee said Hong Kong would only abide by United Nations sanctions. Officials in Hong Kong do what is right to protect the interests of the country and the interests of Hong Kong.

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