WORLD FINANCE NEWS BRIEF
Japan Starts Paying Firms to Cut Reliance on Chinese Factories
While the METI statement doesn’t explicitly state the money is to move production out of China, Prime Minister Shinzo Abe said in March that Japan needed to bring production back home or diversify output to Asean nations and elsewhere to cut reliance on any one country such as China.
Japan’s decision is similar to a Taiwanese policy in 2019, which was aimed at bringing investment back home from China.
So far, no other country has enacted a concrete policy to encourage the shift.
Crowdfunding Picks Up Slack for Green Tech Start-Ups in Europe
Crowdfunding is not a replacement or competition to banks, but a complementary form of project financing –
Wolfgang Deutschmann, Green Rocket
Green Rocket is part of one of Austria’s biggest crowdfunding platforms, Rockets Holding, which helps raise funds for a range of start-ups and real estate ventures. Founded in 2013, Green Rocket has since raised a total of €21m for 82 projects which have a focus on sustainability.
“Risk analysis in crowdfunding projects is weak,” says Ulf Moslener, professor of sustainable energy finance at Frankfurt School of Finance. “Investors should diversify investments and check on the due diligence process of selecting projects.”
A Jobless Recovery Is Becoming a Real Risk for Europe’s Economy by None
Many may not even reinstate all furloughed workers when governments end subsidies that kept millions on payrolls.
Furlough schemes to subsidize payrolls in the euro zone’s four biggest economies supported 26 million people at their peak, according to Bloomberg Economics
GCC NEWS BRIEF
Why the Regional Fintech Ecosystem Is Booming
The MENA fintech market will reach a value of $2.5bn by 2022, according to research company MENA Research Partners
Since 2015, $237m has been invested in MENA-based fintech startups across 181 deals, with 51 of those deals being made in 2019 alone, a report co-compiled by MAGNiTT and Abu Dhabi Global Market reveal.
Regionally, the UAE stands out as the largest MENA hub for the industry, accounting for 46 per cent of all fintech startups.
Outside the UAE, Riyad Bank in Saudi Arabia revealed a SAR100m ($26.7m) programme to invest in financial technology startups, while Bahrain launched its FinTech Bay.
Sheikh Hamdan Reveals Best and Worst Dubai Government Entities to Work at – Gulf Business
According to the results of the Dubai Government Employee Happiness Index for the year 2019, Dubai Statistics Centre emerged as the top entity for employee happiness with a rating of 97.16 per cent, followed by Dubai Public Prosecution (93.56 per cent) and Dubai Police (91.95 per cent).
The entities that were ranked the lowest on the index were Dubai Culture (60.9 per cent), the Community Development Authority (62.38 per cent) and Dubai Media Incorporated (66.71 per cent).