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Updated: Jul 3, 2022

June 24, 2022. FRANKFURT.

The gathering storm.

What can we expect from central banks over the next few months? Is a US recession inevitable? How is the war in Ukraine affecting different regions? What is the outlook for equities, rates, credit and monetary policy? Deutsche Bank Research macro economists have published their current thoughts on macro and market views from around the world in the latest edition of The House View. In his foreword to the publication, Group Chief Economist David Folkerts-Landau said:


“Since our last House View in April, our street-leading prediction of a US recession by end-2023 is no longer such an outlier. As we feared, inflation has proven much stickier than expected and longer-term expectations are rising too. But central bankers are now reacting to inflation with more conviction and have commenced a campaign of rate hikes that will end the last decade of very easy money.”


Take a look at what Jim Reid, Marion Laboure and Henry Allen have to say in our House View Snapshot


Deutsche Bank Research clients can read the full report.

June 22, 2022. SCHLOSS ELMAU, Germany.

The G7 Summit at Schloss Elmau, the highlight of the German Presidency, begins on Sunday. According to Federal Chancellor Olaf Scholz, the aim is to send out a “powerful signal” demonstrating that “our strong democracies are aware of their joint global responsibility” – something that is more important than ever in these turbulent times.

G7 Summit with a view of the Alps: the heads of state and government will be meeting at Schloss Elmau

Photo: Bundesregierung/Denzel


Even before the meeting of the Heads of State and Government, one thing is certain: the G7 remains an association of strong partners who stand together and are prepared to draw on their unity to solve global problems – through concrete initiatives and partnerships dedicated to climate, sustainable investment, global food security, global health and resilient democracies.


“The G7 will send out a clear signal for increased climate protection, enhanced international cooperation and greater global solidarity.” Federal Chancellor Scholz on 22 June 2022


G7 agenda more urgent than ever


There can be no question: the German G7 Presidency has certainly had to take on a heightened responsibility this year, not least in view of the Russian war of aggression against Ukraine, which has moved to the top of the agenda. Solidarity and close cooperation are needed to mitigate its far-reaching impact.


But as Federal Chancellor Scholz put it, the war must not lead “us as the G7 to neglect our responsibility for global challenges such as the climate crisis and the pandemic. On the contrary: many of the goals we set ourselves at the beginning of the year have become even more pressing as a result of the change in the global situation.”


“Progress towards an equitable world”


“Progress towards an equitable world” – this is the goal Germany set itself on taking over the G7 Presidency at the beginning of the year, laying out five areas of action to guide the work of the G7.


“Progress towards an equitable world” – this is the goal of the German G7 Presidency

Photo: Bundesregierung


And of course, the G7 summit will also address the global consequences of the war in Ukraine – namely rising energy prices, scarce raw materials and the threat of worldwide famine. Nonetheless, many countries in the southern hemisphere are still struggling with the consequences of the pandemic.


“If we do not succeed in standing by these countries in solidarity, powers like Russia and China will take advantage,” warns Federal Chancellor Scholz. The Federal Government has therefore made a point of inviting influential representatives of the Global South to Elmau.


The message that is to go out from the G7 summit is “that the democracies of the world are standing together in the fight against Putin’s imperialism. But they are no less committed to the fight against hunger and poverty, and to combating health crises and climate change”. Federal Chancellor Scholz on 22 June 2022


Signal for peace and democracy


A strong, rules-based international order cannot be achieved without solidarity and cooperation among the world’s democracies – both within the G7 and beyond. Global partnerships and initiatives are needed to make real progress on the important challenges facing the world of the future.


This is why the G7 members are not just keeping to themselves in Elmau: Germany has invited five partner countries to attend the Summit, each of which embraces freedom and the rule of law: Argentina, India, Indonesia, Senegal and South Africa. The heads of state and government of these countries will travel to the Summit, while the Ukrainian President, Volodymyr Zelensky, will participate virtually.


In addition to the partner countries, the following international organisations are participating this year: the United Nations, the World Health Organization (WHO), the World Trade Organization (WTO), the International Monetary Fund (IMF), the World Bank, the International Labour Organization (ILO), the Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA). The G7 Gender Equality Advisory Council (GEAC) is also represented.

An ambitious summit programme


Germany has already launched a number of initiatives under its Presidency and is seeking to achieve the following outcomes at the G7 Summit:


  • a global alliance for food security,

  • a pact to combat future pandemics,

  • a common position among democracies on the defence of open societies,

  • an open, cooperative Climate Club that promotes climate-friendly business and reduces competitive disadvantages

At their Summit in Elmau, the G7 Heads of State and Government will meet in various working sessions to discuss the extensive agenda. The Ukrainian President, Volodymyr Zelensky, the heads of state and government of the partner countries and the chairpersons of the international organisations will also be involved.




9 January, 2021. JOHANNESBURG.

The transfer of the staff will expand JIS’s portfolio of services it offers to its clients and helps diversify the JSE’s revenue streams and create new annuity income.

The Johannesburg Stock Exchange (JSE) today welcomes new employees in the JSE Investor Service (JIS) business, who join the group following the acquisition by JIS of a portion of its share plan services business from Investec Share Plan Services Proprietary Limited (ISPS) in June this year.


Following the conclusion of the transaction, the ISPS staff transfer to JIS, effective from 1 September 2021. The transfer of the staff will expand JIS’s portfolio of services it offers to its clients and helps diversify the JSE’s revenue streams and create new annuity income.



“I am pleased to welcome these highly skilled members to the JSE family. The new members will work with the broader JIS team to provide solutions that meet our clients’ evolving needs. This will enable us to deliver on our strategy to improve and streamline services to issuers and corporate entities in South Africa,” said Valdene Reddy, JSE’s Director of Capital Markets.


JIS is a leading share registry, custody and investor service provider. It is a critical function of operating a financial market as it maintains the registers of listed and unlisted companies including JSE Top 40 companies with more than 2.5 million shareholder records under management.


The transaction has given JIS a strong foothold in the share plans business via an arrangement that includes a licensing and support services agreement with ISPS for the share plan services administration platform. ISPS retains the brokerage business within its existing operation.


“The JSE has a robust inorganic growth strategy with a focus on acquisitions that will deliver new revenue streams for the future. JIS is a critical component of this long-term strategy and will help us to deliver on the trust and experience invested in the JSE,” adds Reddy.


With the acquisition having given JIS access to the state-of-the-art, market-leading system, the group is now the largest share plans business in the South African market. Through this transaction, JIS has added 90 clients to its client base, helping it to expand its Broad-Based Black Economic Empowerment (B-BBEE) and employee share administration services product offering.


On 9 June 2021, the JSE announced the incorporation of JIS as a wholly owned subsidiary of the JSE after acquiring the minority shareholding of 25.15% from LMS Partner Holdings.


ENDS


ABOUT THE JSE

The Johannesburg Stock Exchange (JSE) has a well-established history operating as a market place for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 130 years.


As a leading global exchange, the JSE co-creates, unlocks value & makes real connections happen.


JSE general enquiries:

Tel: 011 520 7000


JSE media contact:

Paballo Makhetha

Communication Specialist

Tel: 011 520 7331

Mobile: 072 419 4610



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