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June 15th - Singapores Deputy Prime Minister announced that the Singapore Exchange (SGX) will establish an over-the-counter (OTC) gold clearing system and is exploring physically deliverable gold futures contracts. The Monetary Authority of Singapore (MAS) will remove the 5% cap on physical precious metal investments under the Funds Tax Incentive Scheme, and will launch a central bank vault custody service by October. JPMorgan Chase, DBS Bank, and other banks have already signed on as gold clearing members, and interbank gold trading is expected to rebound from 2027 onwards.Japanese Foreign Minister Toshimitsu Motegi: We will maintain close coordination with the international community.Japanese Foreign Minister Toshimitsu Motegi: We will do our utmost to achieve stability in the Middle East.Gold prices rose in early Asian trading on June 15th following the provisional peace agreement reached between the US and Iran. This agreement could help normalize oil supplies and ease market concerns about energy-driven inflation. Since the outbreak of the Middle East conflict in late February, gold prices have fallen by more than 20% due to high energy prices and supply chain disruptions leading to expectations of higher interest rates, dragging down the performance of this non-interest-bearing metal. Furthermore, safe-haven inflows have pushed up the US dollar, further increasing pressure. Analysts at ANZ Bank stated that the war reinforced structural reasons for investors to increase their gold allocations, including geopolitical divisions and waning confidence in bonds as a reliable portfolio diversification tool.Japanese Foreign Minister Toshimitsu Motegi: We welcome the US-Iran peace agreement, which is an important step in resolving the situation.

AMP Confirmed It Was In Talks to Sell Its Investment Management Unit

Aria Thomas

Apr 19, 2022 09:53

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The news follows media allegations that AMP was in talks to sell Collimate in order to streamline its operations.


Dexus acknowledged in a separate filing that it was in discussions with AMP about acquiring the 172-year-old company's Australian real estate and infrastructure equity operations.


"While these negotiations continue, AMP remains open to the possibility of selling or demerging these companies," the wealth management said.


If the purchase goes through, the firm will abandon its intention to spin off AMP Capital's private markets division, instead deciding to sell off segments of the infrastructure investment management unit sequentially.

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