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Rainfall, Financial Development, and Remittances: Evidence from Sub-Saharan Africa

July 6, 2011--Summary: We use annual variation in rainfall to examine the effects that exogenous, transitory income shocks have on remittances in a panel of 42 Sub-Saharan African countries during the period 1960-2007.

Our main finding is that these income shocks have a significant positive effect on remittances, but that the effect is significantly decreasing in the share of domestic credit to GDP. So much so, that at high levels of credit to GDP transitory increases in income had a significant negative effect on remittances. Our findings are consistent with the view that remittances take advantage of unexploited domestic investment opportunities that can exist due to domestic credit market frictions. Our findings also support the view that when barriers to financial flows are low, remittances effectively provide insurance against transitory income shocks.

view IMF Working paper-Rainfall, Financial Development, and Remittances: Evidence from Sub-Saharan Africa

Source: IMF


Deutsche Bank lists three Exchange Traded Notes

July 5, 2011--These JSE-listed instruments offer a cost-efficient, convenient and liquid solution for South African investors wishing to invest into Emerging Market regions and countries without utilising their offshore allowances.
The ETNs will track the following Indices:
MSCI Emerging Markets Total Return Index:

This is a free float adjusted market capitalisation index and currently includes companies across 23 Emerging Market countries.

The shares listed in the BRIC countries (Brazil, Russia, India and China) account for approximately 50% of the Index whereas South Africa shares account for approximately 7.5%.

MSCI China Total Return Index:

This is a free float adjusted market capitalisation index and includes approximately 150 companies incorporated in the People's Republic of China (listed in USD on the Shanghai Stock Exchange or the Shenzhen Stock Exchange (in HKD), or listed in HKD on the Hong Kong Stock Exchange).

MSCI Africa Top 50 Capped Total Return Index:

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Source: Deutsche Bank Securities


JSE up a pip in lacklustre trade

July 5, 2011- The JSE closed 176 points in the black on Tuesday in line with a positive trend running through the market in recent sessions.

A dealer noted, however, lacklustre trade ahead of key economic data expected out of the US later in the week, with nonfarm payrolls data in particular expected to generate investor interest.

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Source: FIN24


Bonds mixed in late trade

July 5, 2011--- South African bonds were mixed in late trade on Tuesday. The longer dated R186 was weaker and the benchmark R157 bond was slightly firmer

A local trader said: "We've been trading within the ranges throughout the session, 47-46 must have been the low and we're back up to 49. It has a lot to do with the auction, the R203s were fair but the R214s went the other way."

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Source: FIN24


Botswana's economy shrinks

July 5, 2011--Botswana's economy contracted 2.2% in the first quarter compared to the previous three months due to lower mining output,

the Central Statistics Office (CSO) said on Monday.

The mining sector contracted by 4.2% in the first quarter, while finance and business services fell by 6.1%, a statement on the CSO website showed.

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Source: FIN24


JSE ends higher in thin trade

July 4, 2011--The JSE closed a tad stronger on Monday, with trading volumes remaining thin due to the public holiday in the US.

Positive US data on Friday and the approval of Greece's next tranche of aid helped boost sentiments, said Kevin Algeo, portfolio manager at Imara SP Reid.

By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.48%, with resources firming 0.53% and gold miners jumping 1.06%.

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Source: AME Info


Bonds remain firm in late trade

July 4, 2011--South African bonds remained firm in late trade on Monday, which a trader attributed to the strong rand boosting the market. The trader added that it had been a "very quiet" session due to the US holiday.

US markets are closed for the Independence Day holiday.

By 15:50, the benchmark R157 bond was trading at 7.480% from its previous close of 7.520%. The R207 was bid at 8.370% and offered at 8.345% from 8.395%, and the R186 was bid at 8.575% and offered at 8.565% from 8.590%.

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Source: FIN24


Positive US data boost JSE

July 1, 2011--Cheery US economic data boosted the JSE, which ended slightly firmer after spending much of the day trading sideways.

Now that the second round of US quantitative easing has ended, attention was turning to economic data, said Dimitri Mitropapas, a stock broker at PSG Konsult. On Friday, good manufacturing figures from the US helped the local bourse recover, Mitropapas added.

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Source: FIN24


Bonds mixed in late trade

July 1, 2011--South African bonds were mixed in late trade on Friday. The R157s were weaker on the back of some weekend profit-taking, while the R186 remained in firmer territory on the back of some buying of longer-dated stock, a local trader noted

By 15:50, the benchmark R157 bond was trading at 7.520%, from 7.500%. The R207 was bid at 8.400% and offered at 8.375% from 8.390%, and the R186 was trading at 8.575% from 8.590%.

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Source: FIN24


Bonds firmer in late trade

June 30, 2011--South African bonds were up to 5 basis points firmer during late trade on Thursday, on the back of the stronger rand and a better than expected PPI figure, released earlier in the day.

By 15:50, the benchmark R157 bond was trading at 7.460% from its previous close of 7.500%. The R207 was bid at 8.365% and offered at 8.355% from 8.390%, and the R186 was trading at 8.550% from 8.600%.

The rand was bid at 6.7714 against the dollar from its previous close of 6.7928.

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Source: FIN24


Americas


April 03, 2025 Investment Managers Series Trust II files with the SEC-Tradr 1X Short Innovation Daily ETF
April 03, 2025 Tidal Trust II files with the SEC-4 Defiance Daily Target 2X Long ETFs
April 03, 2025 Advisors Series Trust files with the SEC-Reverb ETF
April 03, 2025 Baillie Gifford ETF Trust files with the SEC
April 02, 2025 First Trust Exchange-Traded Fund VIII files with the SEC-FT Vest Laddered Max Buffer ETF

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Europe ETF News


March 24, 2025 MarketVector Strengthens Leadership in Multi-Assets Strategies with the Launch of the MarketVector Crypto-Balanced Multi-Asset Index (TOPMDL)
March 24, 2025 21Shares expands European footprint with new listings on Nasdaq Stockholm

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Asia ETF News


March 28, 2025 HashKey Group and Bosera Launch World's First Tokenised Money Market ETF
March 25, 2025 Southeast Asia's Economies Can Gain Most by Packaging Ambitious Reforms
March 17, 2025 E Fund: Harnessing AI Trends in China to Drive Innovation and Enhance ETF Offerings
March 12, 2025 Viet Nam's Economy Forecast to Grow 6.8 Percent In 2025: WB
March 12, 2025 Coinbase returns to India: Crypto exchange confirms securing FIU regulatory nod

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Global ETP News


March 25, 2025 WEF-2024 Global Retail Investor Outlook
March 24, 2025 More Record-Breaking Growth Expected as Investors Lean on ETFs to Manage Global Uncertainty: BBH 2025 Global ETF Investor Survey
March 17, 2025 Infographic-Charted: Global Economic Policy Uncertainty (1997-2025)
March 06, 2025 IMF-Global Financial Stability Note-Pension Funds and Financial Stability

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Middle East ETF News


March 21, 2025 Qatar's Economy Grows 2.4% in 2024, Q4 GDP Up 6.1% Year-on-Year
March 20, 2025 Egypt's economic growth set to improve in Q2, driven by industry: minister
March 11, 2025 Qatar: QSE fully waives trading fees on ETFs, aims improved market liquidity
March 07, 2025 IMF-Financial Conditions and Their Growth Implications for Qatar: Qatar
March 07, 2025 IMF-Artificial Intelligence in Qatar: Assessing the Potential Economic Impacts

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ESG and Of Interest News


March 30, 2025 Africa: Fast Fashion Fuelling Global Waste Crisis, UN Chief Warns
March 26, 2025 'Renewables are renewing economies', UN chief tells top climate forum
March 20, 2025 How DeepSeek has changed artificial intelligence and what it means for Europe
March 10, 2025 IMF-Driving Change: Women-Led Economics
March 05, 2025 F&D: Reconnecting Morality with Political Economy

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White Papers


March 21, 2025 Could Digital Currencies Lead to the Disappearance of Cash from the Market?
March 12, 2025 IMF Note-Fund Investor Types and Bond Market Volatility
February 28, 2025 IMF Working Paper-Not all Housing Cycles are Created Equal: Macroeconomic Consequences of Housing Booms
February 28, 2025 Pension Reform and Stock Market Development

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