The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Japan's mutual fund assets hit year's low in September — Assets held by publicly offered investment trusts in Japan shrank 3.57 trillion yen ($29.6 billion) this September to 93 trillion yen as of the end of the month. The figure from the Investment Trusts Association, Japan, marked a year-to-date low due largely to the recent stock market turmoil stemming from concerns over a global economic slowdown.

Lessons from McDonald’s that can help to solve Africa’s food crisis — The World Bank says Africa holds about half of the world’s fertile unused land – and yet it spends US$25 billion annually importing food. It also uses only a tiny percentage of its renewable water resources.

Iran Is Even More Tempting for Big Oil After the Price Slump — The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost. Iran is one of the cheapest places in the world to tap new oil fields and pump from existing wells. The slump in crude prices makes Iran even more attractive to investors, assuming its nuclear deal with world powers leads to an easing of sanctions. While the cost of developing a field in Canada or the U.S. can range from $59 to $114 a barrel, the expense in Iran doesn’t exceed $31.

Morocco government sees GDP growth at 3% in 2016 — The Moroccan government sees the country's GDP growing by 3 percent in 2016, down from an estimated 5 percent in 2015. The forecast is more ambitious than that of Morocco's planning agency, which had said the economy of the North African kingdom would grow by 2.6% in 2016 as agricultural output fell from an exceptional 2015. Agriculture accounts for more than 15 percent of the economy, with this year's cereal harvest hitting a record 11 million tonnes.

Malaysia proposes $30 billion investment in urban development — Malaysia's Construction Industry Development Board has proposed to invest $30 billion in two urban development and housing projects in India. Redevelopment of New Delhi Railway Station adjoining area as a mini-smart city is proposed to be taken up with an investment of about $ 24 billion. CIDB also proposed to take up a Green City Project at Garhmukhteshwar in Uttar Pradesh involving housing and Ganga cleaning projects with an investment of about $ 4 billion.

$3 Billion Investment in Green Energy in India — Chinese billionaire Liang Wengen’s Sany Group plans to pour $3 billion into India’s renewable power sector, as Prime Minister Narendra Modi seeks a major expansion of clean energy in one of the world’s biggest polluters. The investment for 2016 to 2020 will create 2,000 megawatts of capacity and generate 1,000 jobs. Modi’s goal is 175 gigawatts of green energy capacity by 2022, up from about 37 gigawatts, at an estimated cost of $200 billion -- more than the size of Vietnam’s economy.

Mexican Hotel Chain Announces $900 Million Investment — Mexico-based Karisma Hotel and Resorts has announced plans to invest more than $900 million to develop nine hotels in Jamaica, adding 4,000 rooms to the country’s stock over the next 10 years.

The Briefing

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