Etiqueta: T3

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DIFC hailed for acting as growth catalyst for global sustainable finance market

Link: https://www.thenationalnews.com/business/economy/2023/10/04/difc-hailed-for-acting-as-growth-catalyst-for-global-sustainable-finance-market/

Date: 4th October 2023

Media: The National News

What happened?

The Dubai International Financial Centre is playing the role of a catalyst to boost sustainable finance globally, becoming a green funding center as the market for sustainable financing, emitting ESG Bonds (environment, social and governance bonds) and influencing neighboring regions to adopt sustainable finance practices. Green bonds are on the rise in Gulf Cooperation Council (GCC) countries, with companies in Dubai and Abu Dhabi issuing them for eco-friendly projects.

Whom and where it affects?

The DIFC role in sustainable finance affects primarily the Middle East region, particularly Dubai. Although, we could see a global effect in the sustainable finance market as investors grow an interest in looking for these types of projects.

What sort of public or private institutions are involved?

Among the public institutions, we have: DIFC (Dubai International Financial Centre), Nasdaq Dubai, Masdar (Abu Dhabi Future Energy Company), Abu Dhabi National Oil Company (ADNOC) or Taqa, Aldar Investment Properties, Commercial Bank of Dubai (CBD) and GCC (Gulf Cooperation Council) governments. 

Among the private institutions, we have: Abu Dhabi Commercial Bank, Majid Al Futtaim Holding, Aldar Investment Property and Aldar Investment Properties

Why is it important for Banking and Finance?

This situation is important for Banking and Finance because the global sustainable finance market, which was valued at $3.65 trillion in 2021, is projected to hit $22.48 trillion by 2031. This means that there will be about $19 trillion worth of projects that will need financing.

What do you think will be the consequences in the foreseeable future?

These developments are expected to contribute to a more sustainable and environmentally responsible financial landscape in the region and beyond. The consequences in the foreseeable future could be as follows:

1. Continued Growth in Sustainable Finance: The DIFC’s efforts to promote green and islamic bonds or sukuk, as well as its status as the largest ESG islamic bonds market, will likely lead to sustained growth in sustainable finance.

2. Increased Investment in Green Projects: With the rise of green and sustainable bonds and sukuk, there will likely be increased investment in environmentally friendly projects. This will contribute to the development and expansion of renewable energy, clean technology, and sustainable infrastructure.

3. Regional Influence: Dubai’s leadership in sustainable finance is likely to influence neighbouring countries in the Middle East to adopt similar practices.

4. Accelerated Transition to Renewable Energy: Sustainable financing will play a critical role in financing the adoption of renewable energy and related projects. State initiatives such as Dubai’s Clean Energy Strategy 2050 and the UAE’s Net Zero 2050 will likely accelerate the transition to renewable energy sources.

SDG: 7 Affordable and Clean Energy

Keywords: Sustainable Finance, Dubai International Financial Centre, ESG, GCC.

Publicado el

BITCOIN

AUTHORS:

  • Silvia Herrera Suarez
  • Abian Martin Rodriguez
  • Hatim Brzouami Maaloum
  • Sergio Morales Montesino
  • Miguel Molina González

LINKS:

https://www.cnbc.com/2021/11/10/gold-bitcoin-lead-gains-in-inflation-hedges-following-biggest-cpi-jump-in-3-decades.html?&qsearchterm=First%20Bitcoin%20futures%20ETF%20rises%20more%20than%204%%20in%20trading%20debut%20on%20the%20NYSE

https://www.newscientist.com/article/2289763-why-has-el-salvador-officially-adopted-bitcoin-as-its-currency/

https://www.cnbc.com/2021/10/14/crypto-could-cause-2008-level-meltdown-bank-of-england-official-warns.html

Spanish Bank Santander is Preparing to Launch a Bitcoin ETF

https://economictimes.indiatimes.com/tech/tech-bytes/g7-finance-leaders-lay-out-guidelines-for-central-bank-digital-currencies/articleshow/87012431.cms

Publicado el

Emboldened Bitcoin bulls shoot for the moon after topping record

Link: https://www.businesstimes.com.sg/banking-finance/emboldened-bitcoin-bulls-shoot-for-the-moon-after-topping-record

Date: 25th October, 2021

Media: The Business Times

  • What happened?

Bitcoin hit a historical record, surpassing it’s all time high «ATH» on wednesday 20. It made a huge amounts of money and was up 120 percent this year.

  • Whom and where it affects?

It affects the entire cryptocurrency market, since bitcoin is the predominant currency and all follow in it’s footsteps. All those people who invest in crypto and hold it, have been involved in this bull run.

  • What sort of public or private institutions are involved?

In the private sector, the Goldman Sachs, Inc. group, Bank of New York Mellon Corp. and Morgan Stanley, global leaders in investment banking, securities trading and investment management, stand out. 

Among the best known are Facebook and Apple Inc. with their FAANG stocks listed on the Nasdaq. 

  • Why is it important for Banking and Finance?

For finance it can have a great positive impact, cryptocurrency as a “peer-to-peer version of electronic cash” that allows “online payments to be sent directly from one party to another without going through a financial institution.” but the same does not apply to banks since One of the responses to that crisis was). With its decentralized system and peer-to-peer technology, Bitcoin has the potential to dismantle a banking system in which a central authority is responsible for decisions that affect the economic fortunes of entire countries

  • What do you think will be the consequences in the foreseeable future?

Among the biggest risks of investing in cryptocurrencies is their high volatility, as their prices vary abruptly over very short periods of time.In addition to its volatility, in the absence of regulations governing the cryptocurrency market, cryptocurrency exchanges are vulnerable to being hacked and/or targeted by other criminal activities. Finally, digital money has also raised questions in recent months because of the enormous amount of electricity used to mine the coins, and the consequent environmental impact it generates.

Publicado el

PayPal explores crypto takeovers including Goldman-backed startup BitGo

Link: https://markets.businessinsider.com/currencies/news/paypal-explores-crypto-takeovers-including-goldman-backed-bitgo-bloomberg-2020-10-1029713851

Date: 10/27/2020

Media:  Markets Insider.

What happened? 

Paypal explores crypto takeovers including goldman-backed startup BitGo, report says.

Whom and where it affects?

Paypal is looking to acquire cryptocurrency firms including a Goldman-backed startup BitGo, Bloomberg reported on Thursday, expanding its recent entry into the digital currency market , and in the place where it affects cryptocurrency market.

What sort of public or private institutions are involved?

The institutions that participate  in this news are:

PayPal Holdings, Inc. and also Goldman Sachs, Galaxy Digital Ventures, Valor Equity Partners, Redpoint Ventures, DRW, Digital Currency Group and Founders Fund.

Why is it important for Banking and Finance?

The change to digital forms of currencies is inevitable, bringing with it great advantages such as efficiency, speed or resistance in the payment system and the ability of governments to disburse funds to citizens quickly.

What do you think will be the consequences in the foreseeable future?

PayPal just announced that its network would allow customers to buy, sell, and hold bitcoin and other digital coins. Beginning early 2021, customers would also be able to use cryptocurrencies for transactions at 26 million merchants through its platform.

Key words: Paypal, crypto-takeovers, bitcoin, Goldmand-backed, BitGo.