AXA Wealth sales have risen 48% to £2.9bn in the first nine months of this year, powered by strong results from its wrap platform, Elevate, and Architas Multi-Manager. Strong demand for pensions and offshore bonds also contributed to the performance.
AXA Wealth, which in September launched its new proposition following the sale of its legacy book to Resolution,
Developing countries wanting to use market instruments to scale up their mitigation efforts will soon have access to financial and technical support arising from a new global partnership launched today.
World Bank Group President Robert B. Zoellick announced the establishment of the Partnership for Market Readiness at an event on the sidelines of the UN Framework Convention on Climate Change conference in Cancun.
Investors are optimistic about prospects for a global economic recovery led by the developing world, notes a report launched today by the World Bank’s Multilateral Investment Guarantee Agency (MIGA) at a Financial Times Summit in London. The report, World Investment and Political Risk, says that foreign direct investment flows (FDI) into developing countries are projected to increase by 17 percent in 2010. Investors from the extractive industries, as well as those based in developing countries, are particularly bullish in their investment intentions. This finding represents the business world’s confirmation of economists’ projections: FDI is expected to recover over the next couple of years, having declined sharply by 40 percent last year.
The London Stock Exchange’s Order book for Retail Bonds (ORB) this week welcomes a new retail bond from Royal Bank of Scotland (RBS). The bond is the first multiplier bond to be made available on ORB and is designed to help investors benefit from rising UK inflation.
The RBS Inflation Multiplier bond, tradable in denominations of £100, has a quarterly coupon equivalent to 1.3 times the rise in the UK Retail Price Index (UK RPI). If UK inflation falls or remains flat, no coupon payment is made for that period.
The World Bank’s Africa Director for Sustainable Development, Mr Jamal Saghir, ended a five-day visit in Cameroon this week during which he discussed with Cameroonian authorities on ways to make sure economic growth benefits all people across the country. Other sectors that were discussed include telecoms, energy, mining, and forestry.
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, announced today that the agency’s Council of Governors has approved substantial changes to its convention. These changes are the first since the agency was established in 1988 and will allow MIGA to insure more investments and thereby increase its development impact.
Rabat, November 23, 2010 – World Bank Managing Director Sri Mulyani Indrawati wrapped up her first visit to the Middle East and North Africa region with appreciation for Morocco’s impressive economic performance and commitment to achieve greater competitiveness in the Mediterranean and global economy.