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Approval of ELTIF framework ‘essential for sustained recovery’

first_img“The investment gap and financial crisis present us with the challenge of solving the tricky equation of maximising economic growth, increasing financial stability, removing barriers to cross-border investment, ensuring consumer protection and enhancing competition all at the same time,” Lamassoure said.For her part, Linklaters’ senior lawyer Silke Bernard flagged up the opportunities in responsible investing for the “exciting” vehicle.She predicted there would be a lot of interest from investors for infrastructure projects considering social and responsible investment matters – such as schools and hospitals.Monica Gogna, partner at Ropes & Gray, said the ELTIF’s approval by Parliament showed Europe was keen to remain “at the forefront of innovation” in the investment management sector.“The development of this regulation and the implementing rules surrounding it will definitely be ‘one to watch’ as the industry starts to map out opportunities where this new structure may be used,” she said. The ELTIF, aimed at both institutional and retail clients, was highlighted by Hill as the first step towards the CMU during the commissioner’s confirmation hearings.Proponents of the ELTIF have long spoken out in favour of its long-term capital being deployed with socially responsible investment (SRI) in mind.Natixis Asset Management previously told IPE it was in favour of enshrining SRI within the fund’s framework, requiring asset managers to comply with certain ESG principles or disclose that they had opted against such an approach. The European Parliament’s approval of the European Long-Term Investment Fund (ELTIF) framework has been welcomed by the industry and parliamentarians as the first step towards building the Capital Markets Union (CMU).The ELTIF, meant as a conduit for patient capital, was first mooted in 2012 when the European Commission considered how it could better channel long-term capital into the economy.Jonathan Hill, commissioner for financial stability, said the vehicle would help fund infrastructure projects “essential for a sustained recovery”.Alain Lamassoure, the French MEP overseeing the framework’s passage, said it would boost both long-term investment and help bring about the launch of the CMU, one of Commission president Jean-Claude Juncker’s cornerstone policies.last_img read more

India Thailand sign trade agreements for Rs 2400 crore

first_imgChennai: Thailand and India have signed agreements for Rs 2,400 crore to boost trade ties between the two countries, Deputy Prime Minister of the southeast Asian country Jurin Laksanawisit said on Friday. The pacts were across segments including rubber, construction material, food and beverages, logistics, he told reporters here on the sidelines of an event organised by the CII (Confederation of Indian Industry). Giving a break up of the agreements, Laksanawisit on his first visit to India said the agreements signed in Mumbai total 4.45 billion Thai baht (about Rs 900 crore) while in Chennai, it was 7.623 billion Thai baht (about Rs 1,500 crore). Also Read – Commercial vehicle sales to remain subdued in current fiscal: Icra”The total trade generated by this trip is 12.075 billion Thai baht. This number is satisfactory and we consider it as a huge success for this visit”, he said. Leading a delegation from Bangkok with more than 30 companies taking part, he said the main objective of the visit was to strengthen strategic partnership with India, expand new business opportunities. For Mumbai, the focus on partnerships was on food, construction material, logistics and real estate development. For Chennai, the focus was on rubber market from Thailand to India, he said. The deputy Prime Minister, also holding the Ministry of Commerce portfolio, said the demand for rubber from India after his discussion with rubber companies during the visit was that India requires import of about one million tonne of rubber. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 days”The Indian domestic industry can meet about 40 per cent of rubber but India requires 60 per cent of the demand to import rubber. So, India is a high potential market,” he said. He noted that Indian market was growing steadily as it was not affected by the trade war which was currently on with many other countries. “So, as a result of economic expansion, your automotive and manufacturing industry, tyre and construction requires many raw materials, natural rubber and rubber-related products to expand steadily in India. One of the main raw materials that India businesses inform me was import of block rubber, compound rubber with black carbon,” he said. On the brief visit and the business delegation led by him, he said he has brought officials from Ministry of Commerce, Thailand Rubber Authority and many private sector for their business opportunities. “I met a lot of people from the Indian Rubber Association and Tyre Manufacturers Association of India,” he said. The Deputy Prime Minister said Thailand was inviting Indian businesses to sign another memorandum of understanding in November and they would launch an initiative to launch Thai products to be available in Indian market. “I will visit India one more time to promote Thai food and food products which has been increasingly popular in India.”, he said. On trade relations between the two countries, he said the bilateral two-way trade was at $12 billion in 2018.last_img read more