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Crisis Shows Brazil’s Strengths As Investment Venue

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Wall Street Journal reports, “Alan Thompson, managing director for Latin America at Temasek Holdings, Singapore’s sovereign wealth fund, agreed that Brazil’s strong financial system is an important factor in the country’s strong economic growth potential. Not a single bank failure has occurred in Brazil since September 2005 when Banco Santos was closed in what Brazilian bank regulators called an isolated event.

‘Over the last two years, we recognized that the economic world order is changing,’ said Thompson, who said Temasek has made several investments since establishing a presence in Brazil last year.

Thompson also said Brazil’s moderate inflation of 4% was the result of well-developed institutions that drive monetary policy. He cited stable fiscal policy as the reason Brazil has become a net creditor to the rest of the world and accumulated $200 billion in foreign exchange reserves. The global financial community has recognized Brazil’s new place in the world. Standard & Poor’s upgraded Brazil’s sovereign debt to investment grade last year. Foreign investors poured in a record $45 million of direct investment in 2008. “

read more: Wall Street Journal

US Becomes the Largest Crude Oil Producer in the World

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With the onset of fracking technology and a flood of capital entering the Texas energy market over the past decade, the United States is now the largest producer of crude oil. According to the U.S. Energy Information Administration, on September 12th, they revealed, “The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.”

Light sweet crude oil grades have rapidly expanded since 2011.

With two months remaining before U.S. sanctions go into effect against Iran, Iran’s crude exports are falling fast. European oil companies are exiting Tehran fearful of the repercussions of sanction violations, coupled with the country’s currency crisis. Iran’s influence over global oil prices have dwindled.

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Trump Goes Across the Political Aisle to Nominate Nellie Liang to Federal Reserve Board

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U.S. President Trump nominated Nellie Liang to the Federal Reserve Board of Governors. She is a long-time staff member of the Federal Reserve, joining in 1986 as a research economist. Liang must still be confirmed by the U.S. Senate pending the job post. She is a graduate of University of Notre Dame in 1979 and received her doctorate from the University of Maryland in 1986.

Ms. Liang is a registered Democrat.

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Ivanhoé Cambridge to Acquire Callahan Capital Properties

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Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), signed a deal to acquire Callahan Capital Properties (CCP). Eastdil Secured advised on the transaction. CCP is Ivanhoé Cambridge’s investment partner of six years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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