Guatemala economy – IPMS Guatemala http://ipmsguatemala.org/ Wed, 23 Nov 2022 07:01:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ipmsguatemala.org/wp-content/uploads/2021/10/icon-61-120x120.png Guatemala economy – IPMS Guatemala http://ipmsguatemala.org/ 32 32 New Mexico can diversify its economy | My opinion https://ipmsguatemala.org/new-mexico-can-diversify-its-economy-my-opinion/ Sat, 22 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/new-mexico-can-diversify-its-economy-my-opinion/ Country the United States of AmericaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic […]]]>

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Policymakers Need a Steady Hand as Storm Clouds Gather Over the Global Economy – BRINK – World Affairs Conversation & Insights https://ipmsguatemala.org/policymakers-need-a-steady-hand-as-storm-clouds-gather-over-the-global-economy-brink-world-affairs-conversation-insights/ Wed, 19 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/policymakers-need-a-steady-hand-as-storm-clouds-gather-over-the-global-economy-brink-world-affairs-conversation-insights/ People shop at a fish market on October 11, 2022 in Istanbul, Turkey. Photo: Chris McGrath/Getty Images The global economy continues to face daunting challenges, shaped by the Russian invasion of Ukraine, a cost of living crisis caused by persistent and growing inflationary pressures, and the slowdown in China. Our global growth forecast for this […]]]>

The global economy continues to face daunting challenges, shaped by the Russian invasion of Ukraine, a cost of living crisis caused by persistent and growing inflationary pressures, and the slowdown in China.

Our global growth forecast for this year is unchanged at 3.2%, while our projection for next year is lowered to 2.7%, 0.2 percentage point lower than the July Forecast. The 2023 slowdown will be broad-based, with countries accounting for around a third of the global economy poised to contract this year or next. The three largest economies, the United States, China and the Eurozone will continue to stall. Overall, this year’s shocks will reopen economic wounds that were only partially healed after the pandemic. In short, the worst is yet to come and, for many, 2023 will look like a recession.

In the United States, tighter monetary and financial conditions will slow growth to 1% next year. In China, we lowered the growth forecast for next year to 4.4% due to a weaker real estate sector and continued lockdowns.

The slowdown is most pronounced in the eurozone, where the war-induced energy crisis will continue to wreak havoc, reducing growth to 0.5% in 2023.

Almost everywhere, rapidly rising prices, especially of food and energy, are causing severe hardship for households, especially the poor.

Despite the economic slowdown, inflationary pressures are proving stronger and more persistent than expected. Global inflation is now expected to peak at 9.5% this year before decelerating to 4.1% by 2024. Inflation also extends well beyond food and energy. Global underlying inflation fell from an annualized monthly rate of 4.2% at the end of 2021 to 6.7% in July for the median country.

Downside risks to the outlook remain high, while policy trade-offs to deal with the cost of living crisis have become more difficult. Among those highlighted in our report:

  • The risk of miscalibration of monetary, fiscal or financial policies has increased sharply in a context of high uncertainty and growing fragility.
  • Global financial conditions could deteriorate and the dollar strengthen further if financial market turmoil erupts, pushing investors into safer assets. This would significantly aggravate inflationary pressures and financial fragilities in the rest of the world, especially emerging markets and developing economies.
  • Inflation could once again prove more persistent, especially if labor markets remain extremely tight.
  • Finally, the war in Ukraine is still raging and a further escalation may exacerbate the energy crisis.

Our latest insights also assesses the risks surrounding our baseline projections. We estimate that there is about a one in four chance that global growth next year will fall below the historic low of 2%. If many risks materialize, global growth would fall to 1.1% with near-stagnant per capita income in 2023. By our calculations, the probability of an equally unfavorable outcome, or worse, is 10% to 15%.

Cost of living crisis

Growing price pressures remain the most immediate threat to current and future prosperity by compressing real incomes and undermining macroeconomic stability. Central banks are now focusing on restoring price stability, and the pace of tightening has picked up sharply.

There are risks of under-tightening and over-tightening. Insufficient tightening would further boost inflation, erode central bank credibility and unanchor inflation expectations. As history teaches us, this would only increase the potential cost of controlling inflation.

Excessive tightening risks plunging the global economy into an unnecessarily deep recession. Financial markets could also be struggling with too rapid a tightening. Yet the costs of these policy mistakes are not symmetrical. The hard-earned credibility of central banks could be shaken if they again misunderstand the stubborn persistence of inflation. This would prove much more detrimental to future macroeconomic stability. Where appropriate, financial policy should ensure market stability. However, central banks must keep a firm hand with a monetary policy resolutely focused on controlling inflation.

Formulating the appropriate fiscal response to the cost of living crisis has become a serious challenge. Let me mention a few key principles.

First, fiscal policy should not run counter to monetary authorities’ efforts to reduce inflation. This would only prolong inflation and could cause severe financial instability, as recent events have illustrated.

Second, the energy crisis, particularly in Europe, is not a transitory shock. The geopolitical realignment of energy supplies as a result of the war is vast and ongoing. The winter of 2022 will be difficult, but the winter of 2023 will probably be worse. Price signals will be essential to curb energy demand and stimulate supply. Price controls, untargeted subsidies or export bans are fiscally costly and lead to excess demand, insufficient supply, misallocation and rationing. They rarely work. Fiscal policy should instead aim to protect the most vulnerable through targeted and temporary transfers.

Third, fiscal policy can help economies adapt to a more volatile environment by investing in productive capacities: human capital, digitalization, green energy, and supply chain diversification. Their expansion can make economies more resilient to future crises. Unfortunately, these important principles do not always guide policy at this time.

Effects of a strong dollar

For many emerging markets, the strength of the dollar is a major challenge. The dollar is now at its highest level since the early 2000s, although the appreciation is more pronounced against the currencies of advanced economies. So far, the upside appears to be driven primarily by fundamental forces such as US monetary policy tightening and the energy crisis.

The appropriate response in most emerging and developing countries is to calibrate monetary policy to maintain price stability, while allowing exchange rates to adjust, conserving valuable foreign exchange reserves in case conditions really deteriorate. financial.

As the global economy heads into turbulent waters, now is the time for emerging market policymakers to batten down the hatches.

Eligible countries with sound policies should urgently consider improving their liquidity buffers, including by requesting access to IMF precautionary instruments. Countries should also seek to minimize the impact of future financial turmoil by combining, where appropriate, preventive macroprudential measures and capital flows, in line with our Integrated strategic framework.

Too many low-income countries are over-indebted or close to over-indebted. Progress towards orderly debt restructurings through the Common framework of the Group of Twenty for those most affected is urgently needed to avoid a wave of sovereign debt crisis. Time may soon run out.

The energy and food crises, coupled with extreme summer temperatures, are stark reminders of what an uncontrolled climate transition would look like. progress on climate policiesas well as on debt settlement and other targeted multilateral issues, will prove that targeted multilateralism can indeed achieve progress for all and succeed in overcoming geoeconomic fragmentation pressures.

A version of this article originally appeared in the IMF Blog.

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Candice Beaumont invited to speak at the Forbes Economy and Business Summit https://ipmsguatemala.org/candice-beaumont-invited-to-speak-at-the-forbes-economy-and-business-summit/ Tue, 18 Oct 2022 13:53:00 +0000 https://ipmsguatemala.org/candice-beaumont-invited-to-speak-at-the-forbes-economy-and-business-summit/ Candice Beaumont, Chief Investment Officer, L Investments Investment Expert to Participate in Roundtable with Leading Middle East Global Family Offices on Diversifying Investments Beyond Oil MIAMI, FLORIDA, UNITED STATES, Oct. 18, 2022 /EINPresswire.com/ — MIAMI, FLORIDA–(October 18, 2022) — Candice Beaumont has been selected as a speaker at the Forbes En Español Economy and Business […]]]>

Candice Beaumont, Chief Investment Officer, L Investments

Investment Expert to Participate in Roundtable with Leading Middle East Global Family Offices on Diversifying Investments Beyond Oil

MIAMI, FLORIDA, UNITED STATES, Oct. 18, 2022 /EINPresswire.com/ — MIAMI, FLORIDA–(October 18, 2022) — Candice Beaumont has been selected as a speaker at the Forbes En Español Economy and Business Summit to be held October 18 -19 in Antigua City, Guatemala.

The Forbes Forum was born with the vision of being a meeting point for the most influential leaders in Latin America, reaching 600 million people. More than 60 international speakers and exhibitors will gather in Antigua Guatemala to discuss the issues most relevant to facing economic challenges and finding business opportunities in the years to come. Attendees at the event include Steve Forbes, President of Forbes International; Felipe Calderón, former President of Mexico; Rosario Marín, former Secretary of the Treasury of the United States; Queen Diambi, president of the World Indegenous Forum and Loreanne García Ottati, co-founder of Kavak.

Ms Beaumont joins a panel of CEOs and CIOs to discuss “diversifying investments beyond oil”. Issues to be covered include assessment of current trade relations between Latin America and the Middle East, appetite levels for different types of assets, portfolio construction, risk management, fee structures, key man clauses, due diligence and negotiations with investment managers. . Panelists include Dr. Arshi Ayub Mohamed, Senior Advisor Royal Family Offices UAE, HE Khalid Al Rumaihi, CEO of Mumtalakat, the Kingdom of Bahrain’s sovereign wealth fund, and Hadi Al Alawi, Founder and Chairman of Al Hayat Group.

About Candice Beaumont
Candice Beaumont is Chief Investment Officer who runs L Investments, a single-family office with an endowment-style portfolio of public and private capital. She is also president of the Salsano Group, a family office based in Panama. She serves on the advisory board of the Family Office Association, the steering committee of the Yale University School of Management College of Family Offices, the NYU Stern Family Office Council, and the Princeton University Council of Family Offices and Endowments. contained in Impact Wealth magazine. Candice has served on the board of numerous private equity firms including DFSA regulated venture capital fund i2BF, sits on the board of Clean Earth Acquisitions Corp., is an advisor to numerous SPACs and remains committed to community and philanthropic causes having served on the board of Most Valuable Kids and Care for Kenya, and is currently a member of the International Council of Advisors for Global Dignity, a charity founded by Crown Prince Haakon of Norway to foster respect and dignity across all borders, genders, religions and races, and is part of the Global Teacher Prize Academy, founded by the Varkey Foundation.

Candice previously worked at Lazard Frères performing over $20 billion in M&A advisory engagements, and in private equity at Argonaut Capital. She completed Global Leadership & Public Policy for the 21st Century at Harvard Kennedy School and earned a bachelor’s degree in business administration from the University of Miami, graduating top of her class with a major in international finance and marketing. Candice is a member of the Young Presidents Organization and was part of the Milken Young Leaders Circle. Candice was honored by Trusted Insight as one of Family Office’s Top 30 Chief Investment Officers in 2017, and as a Young Global Leader by the World Economic Forum in 2014 and is a former world-class professional tennis player.

Angela TrostleGorman
AMW PR
+1 212.542.3146
write to us here

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POLL-Brazilian economy experiences soft landing as private spending cools https://ipmsguatemala.org/poll-brazilian-economy-experiences-soft-landing-as-private-spending-cools/ Mon, 17 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/poll-brazilian-economy-experiences-soft-landing-as-private-spending-cools/ By Gabriel Burin BUENOS AIRES, October 17 (Reuters) – Brazil’s economy is suffering a soft landing as consumers tighten their purse strings to cope with high indebtedness on post-pandemic purchases and rising financial costs, a Reuters poll of economists showed. . Economic activity has been boosted this year by President Jair Bolsonaro’s additional public spending […]]]>

By Gabriel Burin

BUENOS AIRES, October 17 (Reuters)Brazil’s economy is suffering a soft landing as consumers tighten their purse strings to cope with high indebtedness on post-pandemic purchases and rising financial costs, a Reuters poll of economists showed. .

Economic activity has been boosted this year by President Jair Bolsonaro’s additional public spending measures aimed at improving his re-election chances ahead of a final ballot on October 30 that will decide who wins the top job.

However, Brazilians are now holding back in the face of rising interest rates on piles of unpaid personal debt, a side effect of the central bank’s tough anti-inflation policy.

Gross domestic product is expected to rise just 0.8% next year, from 2.7% in 2022, according to median estimates from a sample of 39 economists surveyed Oct. 4-13. In July, analysts were expecting growth of 0.8% in 2023 and 1.4% this year.

“While monetary policy is kept tight, we see more restrained consumption and investment, combined with weaker external demand, especially in 2023,” said Lucas Costa, Latin America economist at Continuum.

Bolsonaro launched debt forgiveness for consumers who splurged when business normalized after the coronavirus pandemic. His challenger, the former president Luiz Inacio Lula da Silvaalso offered debt forgiveness.

About 68 million Brazilians were blacklisted by rating agencies in August due to overdue debt. State-owned bank Caixa Economica Federal plans to restructure around 1 billion reais ($190 million) in defaulted credit.

With the outlook for capital spending and foreign trade also uncertain amid a tough international backdrop, investors are hoping the next administration will renew Brazil’s vow of fiscal restraint that Bolsonaro broke ahead of the vote.

WISHING MODERATION

Earlier this month, Lula came close to winning in the first vote, but Bolsonaro exceeded expectations. The former president is currently leading voters’ preferences for the Oct. 30 runoff by a margin of between 4.6% and 8%, according to two polls.

“Lula’s tenure for left-leaning politics has dwindled with first-round results closer than expected, while his views will need to moderate further if he is to appeal to centrist voters,” Amundi analysts wrote in a statement. report.

Elsewhere in the region, Mexico’s economy is likely to slow next year as well, growing just 1.2% from 2.0% in 2022. Yet unlike Brazil, where consumer prices are already falling, the inflation remains unanchored.

“Weaker growth prospects, gradual normalization of supply chains and lower commodity prices should support price momentum in 2023,” said Jose Sanchez, a Mexican economist and vice president of HSBC Global Research.

President Andres Manuel Lopez Obrador is implementing unorthodox measures to help reduce food costs through “collaborative efforts” with companies, an approach based in part on voluntary compliance rather than strict intervention.

This pales in comparison to the rigid economic controls that the Argentine Peronists have implemented since the turn of this century, which nevertheless failed to avert what has become the worst cost-of-living crisis in the Group of 20 great savings.

Argentines facing double-digit inflation this year struggle to make ends meet, while the poorest turn to recycling dumps or queuing to trade their goods in barter clubs.

A fresh bout of market instability in July was quelled by promises of new austerity measures that won aid from the International Monetary Fund but sparked social protests and further isolated a weakened government.

($1 = 5.2605 reais)

(Reporting and polling by Gabriel Burin in Buenos Aires; Editing by Ross Finley and Jonathan Oatis)

((gabriel.burin@thomsonreuters.com; 5411 4015 3826;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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El Salvador’s Bukele Remains Popular Despite Bad Bitcoin Bets and Collapsing Economy https://ipmsguatemala.org/el-salvadors-bukele-remains-popular-despite-bad-bitcoin-bets-and-collapsing-economy/ Fri, 14 Oct 2022 19:05:32 +0000 https://ipmsguatemala.org/el-salvadors-bukele-remains-popular-despite-bad-bitcoin-bets-and-collapsing-economy/ Salvadoran President Nayib Bukele bets on Bitcoin last September when he made it legal tender in the Central American nation and invested a lot of money in cryptocurrency himself. A year and $107 million later, and his investment isn’t paying off: the president has lost more than $61 million on paper compared to those Bitcoin […]]]>

Salvadoran President Nayib Bukele bets on Bitcoin last September when he made it legal tender in the Central American nation and invested a lot of money in cryptocurrency himself.

A year and $107 million later, and his investment isn’t paying off: the president has lost more than $61 million on paper compared to those Bitcoin purchases, Nayib Tracker site data showsand many citizens still don’t use it.

The economy of the small country is not doing very well either. The IMF has warned that El Salvador’s economy will only grow by 1.7% in 2023, which will look like a recession.

But that does not mean that President Bukele is not liked. According according to a CID Gallup poll released Thursday, the leader has the highest approval ratings in Latin America.

CID Gallup, a Costa Rican consulting firm, surveyed 1,200 citizens in 13 Latin American countries and found President Bukele to be the most popular, with an approval rating of 86%. Bukele fared much better than the leaders of major Latin American economies such as Mexico and Argentina (but the poll didn’t include all countries in the region.)

This may surprise political observers outside the country, given reports of civil unrest in El Salvador. Last year, Salvadorans take to the streets several times to protest the Bitcoin law and the president consolidating too much power.

And the chief, who once admitted he buys crypto on his phone while naked, has been criticized by all US lawmakers – who called bitcoin law a “negligent bet” – for the world Bank and IMF.

Salvadoran bitcoin law requires businesses to accept the largest cryptocurrency if they have the technological means to do so.

The country’s government encouraged citizens to use the asset by giving them all $30 worth of Bitcoin through a state-issued digital wallet.

When Decrypt visited the country at the end of 2021, we found many Salvadorans were not interested in bitcoin and businesses were hesitant to accept it.

But El Salvador, an impoverished nation that often finds a place on lists of the world’s deadliest countries, is supposed to be less dangerous under Bukele.

The eccentric leader has launched a harsh crackdown this year rounding up suspected gang members and throwing more than 53,000 of them in jail.

The bold move was hailed by Salvadorans – they say the country is safer – but criticized by human rights groups, who prevent it is unsustainable and could lead to a crisis in the country’s prisons.

Stay up to date with crypto news, get daily updates in your inbox.

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UNCTAD sees potential for creative economy in Cambodia https://ipmsguatemala.org/unctad-sees-potential-for-creative-economy-in-cambodia/ Thu, 13 Oct 2022 18:14:35 +0000 https://ipmsguatemala.org/unctad-sees-potential-for-creative-economy-in-cambodia/ The creative economy is one of the fastest growing sectors in the world and creative industries create jobs and incomes, promote innovation and contribute to the well-being of societies, said the United Nations Conference on Trade and Development (UNCTAD) in its latest Creative Economy Outlook 2022. . Cambodia also participated in UNCTAD’s 2021 Creative Economy […]]]>

The creative economy is one of the fastest growing sectors in the world and creative industries create jobs and incomes, promote innovation and contribute to the well-being of societies, said the United Nations Conference on Trade and Development (UNCTAD) in its latest Creative Economy Outlook 2022. .

Cambodia also participated in UNCTAD’s 2021 Creative Economy Survey.

Speaking about the potential of the creative economy, Rebeca Grynspan, Secretary-General of UNCTAD, said: “More data and innovative, multidisciplinary policy responses are needed to strengthen the impacts of the creative sector on development. This is essential, as the creative economy offers all countries, especially developing economies, a feasible option for development.

The report provides an overview of UNCTAD’s survey of member States on the creative economy by highlighting institutional arrangements and national plans and strategies for 33 countries.

“Global exports of creative goods accounted for $524 million in 2020, while global exports of creative services reached $1.1 trillion. Furthermore, UNCTAD estimates that in 2020, creative goods and services accounted for 3% and 21% of total exports of goods and services, respectively,” Grynspan said.

The results show how the creative economy has become a sector of growing social, political and economic importance. International trade in creative goods and services generates growing revenues for countries, but exports of creative services far exceed those of creative goods.

The study indicates that most of the responding countries have established a specific national strategy or plan to support and develop creative industries at the national level. Among responding countries, Cambodia, Central African Republic, Honduras, Latvia and Trinidad and Tobago were the fastest to recognize the social, economic and political importance of the creative economy, he said. , adding, “They developed national strategies and plans to develop their creative industries from the mid-2000s to the mid-2010s.”

Most of the responding countries have established a specific national strategy or plan to support and develop creative industries at the national level. Among responding countries, Cambodia, Central African Republic, Honduras, Latvia, and Trinidad and Tobago were among the first to develop national strategies and plans to develop their creative industries from the mid-2000s to the mid-1990s. 2010, he said.

Giving examples of national strategies and plans for the creative economy in Cambodia, the study highlighted that the Ministry of Culture and Fine Arts Strategic Plan 2019-2023 focuses on increasing conservation and development of cultural heritage to attract national and international tourists.

The plan focuses on promoting Cambodia to become a center for performing arts and cultural products, and a place for foreign film productions; create employment opportunities in the field of culture; support and encourage new creation in all fields such as music, audiovisual, cinema, publishing, performing arts, crafts, painting, traditional weaving, design and architecture; organization of festivals for exhibitions of new creative works and products of the cultural and creative industries.

The plan also aims to expand the market and cultural products by promoting creativity and innovation in music, film, visual arts, crafts, traditional weaving and design among artists and producers, the report adds.

Other countries that participated in the survey are Andorra, Azerbaijan, Bahrain, Belgium, Benin, Canada, Central African Republic, Chile, Colombia, Ecuador, Georgia, Germany, Guatemala, Honduras, Latvia, Mauritius, Mexico, Mongolia, Morocco, Myanmar. , Nicaragua, Oman, Panama, Paraguay, Peru, Poland, Portugal, Russian Federation, Slovenia, Trinidad and Tobago, Turkey and United Arab Emirates.

“Trade in creative goods and services generates growing revenues for countries, but exports of creative services far exceed those of creative goods. Global exports of creative goods have grown from $419 million in 2010 to $524 million in 2020, while global exports of creative services have grown from $487 billion to nearly $1.1 trillion over the past year. the same period. Exports of creative goods and services have decoupled in recent years, driven by a sharp increase in exports of software and research and development services and a so-called “dematerialization” of some creative goods (due to digitization, certain goods are becoming more and more creative services). Another factor is that the statistical capture of detailed service subcategories has improved significantly in recent years,” the report points out.

  • Key words: creative economy, UNCTAD
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Sullen Hong Kong negotiators hope China’s Congress will revive economy and IPOs https://ipmsguatemala.org/sullen-hong-kong-negotiators-hope-chinas-congress-will-revive-economy-and-ipos/ Thu, 13 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/sullen-hong-kong-negotiators-hope-chinas-congress-will-revive-economy-and-ipos/ By Scott Murdoch HONG KONG, October 13 (Reuters) – Hong Kong negotiators expect China’s 20th Party Congress next week to signal a shift in focus in Beijing towards trade and economic issues that could help revive the city’s IPO issuance from its lowest level in nine years. Continued COVID-19 lockdowns have been blamed for dramatically […]]]>

By Scott Murdoch

HONG KONG, October 13 (Reuters)Hong Kong negotiators expect China’s 20th Party Congress next week to signal a shift in focus in Beijing towards trade and economic issues that could help revive the city’s IPO issuance from its lowest level in nine years.

Continued COVID-19 lockdowns have been blamed for dramatically slowing China’s economic growth, cutting it off from the rest of the world and reducing investors’ appetite to buy Chinese assets.

Any shift toward opening China’s borders and boosting demand there would bolster confidence and business transactions, lawyers and analysts said. Hong Kong only recently began its own reopening, easing its virus-fighting policies that have tarnished its credentials as a global financial hub.

“I hope the global economic situation will improve next year and I expect to see greater focus on trade and economic issues in China after the 20th Party Congress,” said Richard Wang, partner of Freshfields in Hong Kong, adding that this should lead to more business. are looking to raise capital.

Initial public offering (IPO) activity in Hong Kong, which has traditionally been dominated by mainland companies, has fallen to its lowest level in nine years amid falling Chinese markets, escalating Sino tensions -Americans and a tightening of the regulatory environment in China.

International listing ambitions have been frozen since China announced new rules, which have yet to be finalized, for companies wishing to sell shares outside mainland markets.

There have been just $9.28 billion in Hong Kong IPOs this year, down from $37.1 billion in the same period of 2021, according to Refinitiv figures. The value of new share sales is the lowest since 2013.

Additionally, more than 80% of Hong Kong IPOs this year have traded underwater since their debut, according to Dealogic data.

IPOs in mainland China raised $54.12 billion, down 33% from $80.89 billion in the first three quarters of 2022, according to Refinitiv data. However, the Shanghai STAR and the Shenzhen Stock Exchange are the two most active IPO markets in the world, according to the data.

“People expect things to open up after the meeting, but in terms of timing, when you see that, it won’t be an overnight change,” said firm partner Stephanie Tang. lawyers Hogan Lovells.

“How this will evolve, there is no determining factor, but the reasonable expectation is that we will see transaction activity progress from late 2022 to spring 2023.”

However, most economists doubt that Chinese policymakers will soon offer concrete signals of a relaxation of the zero-COVID policy or a roadmap for reopening borders.

COVID infections are at highest level since August and there are about 36 cities under lockdown or some form of control ahead of the meeting starting Sunday.

Greater political certainty in areas such as technology and education may only become clear after the two annual sessions of China’s parliament in March, lawyers have said.

(Reporting by Scott Murdoch; Editing by Anshuman Daga)

((Scott.Murdoch@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The Impact of Latino-Owned Businesses on Central Florida’s Economy https://ipmsguatemala.org/the-impact-of-latino-owned-businesses-on-central-floridas-economy/ Wed, 12 Oct 2022 22:22:00 +0000 https://ipmsguatemala.org/the-impact-of-latino-owned-businesses-on-central-floridas-economy/ As we continue to celebrate Hispanic Heritage Month, we examine the economic impact of the community. Latino-owned businesses generate thousands of jobs and millions of dollars in the Central Florida economy. “I was a new budding young entrepreneur. I had a vision or a dream, but I didn’t know how to put it all together,” […]]]>

As we continue to celebrate Hispanic Heritage Month, we examine the economic impact of the community. Latino-owned businesses generate thousands of jobs and millions of dollars in the Central Florida economy. “I was a new budding young entrepreneur. I had a vision or a dream, but I didn’t know how to put it all together,” said Phillip Rosado. Rosado is the owner of Educe Salon, one of Orlando’s most successful high-end salons. The Puerto Rican-born stylist remembers how difficult the beginnings were. “I applied for so many different scholarships. I got one – Orlando VoTech and it was for $1,500,” Rosado said. This start to the early 90s propelled Rosado to top hairdressing schools in the United States and styled the hair of top pop artists like the Backstreet Boys. But in 2000, Rosado’s dream was to own his own salon. “My very first living room was off Lake Ivanhoe and it was 200 square feet, 250 square feet,” Rosado said. Today, 20 years later, Rosado and his wife, Alicia, own a 5,000 square foot living room. Educe Salon serves over 600 clients per month and is ranked among the top 100 salons in the state. Of the 40 employees, 18 are Latinos. But that first show and the success that followed were made possible by Prospera USA. Founded by the Hispanic Chamber of Commerce, Prospera provides technical assistance to those looking to start or grow their business. This helped Rosado secure a $75,000 loan to launch his first salon. That’s the goal of the Hispanic Chamber of Metro Orlando and Prospera USA, helping Latin American businesses get started and succeed. “We are very proud to celebrate 30 years next year and three decades of working day in and day out to ensure that our Hispanic business community has access to the right connections, to the right resources,” said Gaby Ortigoni. , CEO of the Metro Orlando Hispanic Chamber of Commerce. “What’s important to us and the main reason they come to Prospera is because they want to understand and we want them to understand the way of doing business in the United States,” said Katia Medina. Prospera has helped create more than 11,500 jobs at more than 8,600 Latino-owned businesses in Central Florida, businesses like those of Pablo and Jennifer Herrera. The couple immigrated to Florida from Guatemala and used Prospera to build a successful business. “It was necessary because when you come to a new country you really don’t know how to market yourself in a new environment and that’s how the marketing plan helps you see who your competition is. Who your prospects may be and your customers,” said Jennifer Herrera. In 12 years, A&G Marketing by Proforma has grown from a $70,000 business to today earning over $1 million a year with clients like UCF, Orlando Health and Orange County Schools. “Imagine how that makes us feel. It’s a family business and everything we do is really, all of our efforts are for our own family,” Jennifer Herrera said. “And that’s how we also reflect ourselves in our company. Together with our employees, we also consider them as a family. Every growth we have is an excitement for all of us.” “Seeing them where they were when they started the business and seeing where they are now makes you proud to see how persistent they have been and the accomplishments they have made,” Medina said. “But I also think that the contribution we make to culture and how we connect our traditions from a business perspective is something that we add to the fabric of this community,” Ortigoni said. “I think even if we become the largest minority, there will always be a need. We will always have people coming from other states, other countries and we want to make sure we are there to support them.”

As we continue to celebrate Hispanic Heritage Month, we examine the economic impact of the community.

Latino-owned businesses generate thousands of jobs and millions of dollars in Central Florida’s economy.

“I was a new budding young entrepreneur. I had a vision or a dream, but I didn’t know how to put it all together,” said Phillip Rosado.

Rosado is the owner of Educe Salon, one of Orlando’s most successful high-end salons.

The Puerto Rican-born stylist remembers how it all started.

“I applied for so many different scholarships. I got one – Orlando VoTech and it was for $1,500,” Rosado said.

This start to the early 90s propelled Rosado to top hairdressing schools in the United States and styled the hair of top pop artists like the Backstreet Boys.

But in 2000, Rosado’s dream was to own his own salon.

“My very first living room was off Lake Ivanhoe and it was 200 square feet, 250 square feet,” Rosado said.

Today, 20 years later, Rosado and his wife, Alicia, own a 5,000 square foot living room.

Educe Salon serves over 600 clients per month and is ranked among the top 100 salons in the state.

Of the 40 employees, 18 are Latinos.

But that first show and the success that followed were made possible by Prospera USA.

Founded by the Hispanic Chamber of Commerce, Prospera provides technical assistance to those looking to start or grow their business.

This helped Rosado secure a $75,000 loan to launch his first salon.

That’s the goal of the Hispanic Chamber of Metro Orlando and Prospera USA, helping Latin American businesses get started and succeed.

“We are very proud to celebrate 30 years next year and three decades of working day in and day out to ensure that our Hispanic business community has access to the right connections, to the right resources,” said Gaby Ortigoni. , CEO of the Metro Orlando Hispanic Chamber of Commerce.

“What’s important to us and the main reason they come to Prospera is because they want to understand and we want them to understand the way of doing business in the United States,” said Katia Medina.

Prospera has helped create more than 11,500 jobs at more than 8,600 Latino-owned businesses in Central Florida, businesses like those of Pablo and Jennifer Herrera.

The couple immigrated to Florida from Guatemala and used Prospera to build a successful business.

“It was necessary because when you come to a new country you really don’t know how to market yourself in a new environment and that’s how the marketing plan helps you see who your competition is. Who your prospects may be and your customers,” said Jennifer Herrera.

In 12 years, A&G Marketing by Proforma has grown from a $70,000 business to today earning over $1 million a year with clients like UCF, Orlando Health and Orange County Schools.

“Imagine how that makes us feel. It’s a family business and everything we do is really, all of our efforts are for our own family,” Jennifer Herrera said. “And that’s how we also reflect ourselves in our company. Together with our employees, we also consider them as a family. Every growth we have is an excitement for all of us.”

“Seeing them where they were when they started the business and seeing where they are now makes you proud to see how persistent they’ve been and what accomplishments they’ve made,” Medina said.

“But I also think the contribution we make to culture and how we connect our traditions from a business perspective is something that we add to the fabric of this community,” Ortigoni said. “I think even if we become the biggest minority, there will always be a need. We will always have people coming from other states, other countries and we want to make sure that we are there to support them.”

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Greek Economy Expected to Grow 6.0% This Year, Slowing to 1.6% in 2023 – IOBE Think Tank https://ipmsguatemala.org/greek-economy-expected-to-grow-6-0-this-year-slowing-to-1-6-in-2023-iobe-think-tank/ Wed, 12 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/greek-economy-expected-to-grow-6-0-this-year-slowing-to-1-6-in-2023-iobe-think-tank/ Add quotes, details ATHENS, October 12 (Reuters) – Greece’s economy will grow by 6.0% this year in a baseline scenario, the country’s influential think tank IOBE said on Wednesday, raising a previous growth forecast of 3.5% to 4, 0% made in July. “The Greek economy is growing faster than expected this year and more than […]]]>

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ATHENS, October 12 (Reuters)Greece’s economy will grow by 6.0% this year in a baseline scenario, the country’s influential think tank IOBE said on Wednesday, raising a previous growth forecast of 3.5% to 4, 0% made in July.

The Greek economy is growing faster than expected this year and more than the EU average,” said IOBE director Nikos Vettas. “But the horizon abroad is getting heavier.”

He said the country’s economy has shown remarkable resilience, with exports increasing thanks to the recovery in tourism.

He said tourism revenue more than doubled in the first half, up 147% year-on-year after two years of closure, despite high inflation.

IOBE expects rising consumer spending, which is also driving growth this year, to show fatigue in 2023 due to rising borrowing costs.

The think tank economic growth projects in Greece goes slow down to 1.6% next year, a forecast lower than the government’s projection of 2.1%.

Certainly, there will be a slowdown in our economy as the cost of borrowing increases. The international crisis is not something that will end easily. Europe is on the brink of recession,” Vettas said.

(Reporting by George Georgiopoulos; Editing by Toby Chopra)

((george.georgiopoulos@thomsonreuters.com; +30210 337 6437; Reuters Messaging: george.georgiopoulos.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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2 Gig Economy Stocks to Buy Amid Labor Paradigm Shifts https://ipmsguatemala.org/2-gig-economy-stocks-to-buy-amid-labor-paradigm-shifts/ Mon, 10 Oct 2022 07:00:00 +0000 https://ipmsguatemala.org/2-gig-economy-stocks-to-buy-amid-labor-paradigm-shifts/ While the COVID-19 crisis has imposed a horrific nightmare, the pandemic has triggered a dramatic paradigm shift in the workforce. Running out of options, employers in white-collar industries have had no choice but to implement a mass work-from-home experience. However, now that many employers are recalling their worker bees to their posts, at least a […]]]>

While the COVID-19 crisis has imposed a horrific nightmare, the pandemic has triggered a dramatic paradigm shift in the workforce. Running out of options, employers in white-collar industries have had no choice but to implement a mass work-from-home experience. However, now that many employers are recalling their worker bees to their posts, at least a few reluctant workers can branch out on their own. In this case, two gig economy actions – PayPal (NASDAQ: PYPL) and Upwork (NASDAQ:UPWK) – can benefit from it.

During the first phase of the global health crisis, several tech-related companies that allowed people to operate remotely achieved meteoric results. However, as TipRanks Contributor Joey Frenette noted that following social normalization trends, many of these hot commodities have deflated sharply. Indeed, some of the biggest work-from-home (WFH) stocks have lost more than 80% of their net worth from peak to peak. Cynically, however, gig economy stocks could pick up where the WFH games tumbled.

Primarily, the narrative boils down to economic realities. In late August, the Federal Reserve signaled that inflation posed a massive threat to long-term economic stability. True to its hawkish monetary policy, the Fed recently raised the benchmark interest rate by 0.75%. However, the latest September jobs report – which was hotter than economists expected – will likely prompt the central bank to act more aggressively in its tightening strategy.

Usually, governments look for strong labor markets for their countries, as this is directly correlated with higher spending. In turn, this increase in spending is expected to stimulate broader economic activity, leading to the hiring of additional people. However, this dynamic also means that more money is chasing fewer goods, leading to the very inflation problem the Fed wants to control.

According to the central bank’s vision, it must deflate the labor market to reduce the escalation in consumer prices. As a result, recession fears are on the way, with many top companies already announcing layoffs. Such a circumstance would not bode well for workers who insist on telecommuting, as it makes them look less like team players.

Most are likely to capitulate due to unfavorable developments in economic realities. However, some people will resist, branching out as independent entrepreneurs, and that could very well help gig economy stocks below buy.

PayPal (PYPL)

A specialist in the financial technology (fintech) space, PayPal offers an online payment system as well as business management tools for entrepreneurs. By facilitating intuitive transactional services as well as administrative issues such as billing protocols, PayPal enables independent entrepreneurs to get up and running quickly, making it one of the most powerful names among gig economy stocks. to buy.

Still, the risky nature of the current equity sector environment has hurt PYPL disproportionately, as the company has lost around 55% of its market value since the start of the year. Nevertheless, the sale is probably too abrupt. Although competition issues exist for PayPal, the brand ranks among the best known in the world. Given that people tend to gravitate toward the familiar, the upside narrative for PYPL stocks likely remains intact.

Additionally, PayPal’s business profile is significantly undervalued. Anchored by a solid balance sheet, the company comes to life through the income statement. For example, PayPal has a three-year revenue growth rate of 18.5%, which ranks better than nearly 79% of companies listed in the credit services industry. Additionally, PayPal has a return on equity of 9.78%, well above the underlying industry median statistic of 5.68%.

What is the fair price of PayPal shares?

On Wall Street, PayPal stock has a strong buy consensus rating based on 24 buys, seven holds and no sells assigned over the past three months. The average PayPal price target is $120.82, implying an upside potential of 42.2%.

Upward Work (UPWK)

Formerly known as Elance-oDesk, Upwork represents an independent marketplace. Essentially, Upwork connects some of the best freelance talent with companies looking to meet specific needs. In many ways, the business offers a win-win scenario: businesses receive the services requested while independent contractors make a living providing them.

From the spring doldrums of 2020 to the final quarter of 2021, UPWK has garnered strong interest among retail investors. Unfortunately for longtime stakeholders, Upwork shares have been in a slump since October. Indeed, UPWK has lost over 59% of its market value for the year so far, making the investment profile admittedly speculative. Still, demand for gig economy stocks is expected to grow over time, especially names like Upwork, which directly connect independent contractors to potential earning opportunities.

To be fair, Upwork doesn’t have the strongest metrics when it comes to financial stability. However, it remains an attractive growth opportunity. For example, in its second quarter of 2022, Upwork reported revenue of $156.9 million, representing a year-over-year increase of more than 26%. For funds intended for speculation, UPWK might be worth a shot.

Is UPWK a good stock to buy?

As far as Wall Street is concerned, UPWK stock has a moderate buy consensus rating based on six buys, three holds and no sells assigned over the past three months. The average UPWK price target is $28.11, implying an upside potential of 103.8%.

Takeaway: Gig economy stocks will likely benefit from human nature

Although the current impasse between employers and employees over the push to the office may seem shocking, in reality, this conflict has a long history. After all, the Cold War has its roots in the Communist Manifesto. In other words, the workers sometimes take drastic measures against the owners of the means of production. It’s just human nature. Logically, then, the beauty of gig economy stocks to buy is that they lock that universal sentiment into profitability.

Therefore, the current downturn in the equity sector represents a potential opportunity to acquire these relevant market insights at a discount.

Disclosure

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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