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Turkish Vice President Yilmaz: We expect to create 2.1 million new jobs by the end of 2029 and reduce the unemployment rate to below 8%.On September 6th, a special seminar on artificial intelligence (AI) was held for the Shanghai State-owned Assets Supervision and Administration Commission (SASAC) system. The seminar revealed that in recent years, the Shanghai SASAC has guided its supervised enterprises to deeply implement the "AI+" special action, accelerating the digital transformation of enterprises through AI. The focus has been on promoting four key shifts in AI applications: First, the application scope has shifted from key pilot projects to full coverage, now encompassing all supervised enterprises; second, the focus has shifted from emphasizing computing power supply to a balance between computing power networking, technological breakthroughs, and practical application scenarios, placing greater emphasis on the compatibility of AI technology with real business operations, data, and processes; third, the application form has shifted from question-and-answer assistance to intelligent execution, with applications such as intelligent agents and digital labor being rapidly embedded in investment research and consulting, architectural design, and supply chain scheduling; and fourth, the implementation method has shifted from decentralized implementation to ecosystem collaboration, with resources such as computing power, corpora, models, scenarios, and talent being rapidly coordinated.Turkish Vice President Yilmaz: Due to supply-side pressures from the war with Iran, the strong downward trend in inflation has temporarily stabilized.September 6th - According to Reuters, two sources familiar with the discussions revealed that OPEC+ will maintain its October oil production policy at its meeting on Sunday, as the oil-producing organization needs to agree on new quotas before deciding on its next production move. OPEC+ currently has a layer of production cuts in place, covering most of its 21 member countries, until the end of 2026. Before deciding how to gradually exit the production cuts and return production to the market, the organization needs to review member countries oil production capacity to set a production baseline for 2027 – which will serve as the basis for quotas. Sources previously indicated that this discussion might take place later in 2026, suggesting that OPEC+ might pause production increases in the fourth quarter.On September 6, local time, the Lebanese Ministry of Public Healths Emergency Operations Center issued a statement saying that an attack launched by the Israeli Defense Forces in southern Lebanon that morning had resulted in 4 deaths and 20 injuries. The Israeli Defense Forces (IDF) issued a statement on the 6th announcing the airstrikes on southern Lebanon. The IDF statement said the airstrikes were a response to Hezbollahs actions in Lebanon.

The Australian Authority Suspends Orders For Two Permanent Investment Funds

Charlie Brooks

Nov 25, 2022 14:27

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Friday, the Australian securities regulator ordered a unit of asset management firm Perpetual Ltd to temporarily halt promoting or delivering two products to individual investors due to elevated market risks.


Perpetual is aiming to conclude a deal with EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners, while being compelled by the court to launch its own takeover proposal for rival Pendal Group.


The Australian Securities & Investments Commission (ASIC) has ordered Perpetual Investment Management's Perpetual Pure Microcap Fund and Perpetual Geared Australian Share Fund to halt distributing interest and giving advice to retail investors for 21 days.


According to the regulator, the portfolios of the funds are exposed to extreme market volatility and carry substantial risks, increasing the potential that investors would sustain enormous losses.


"ASIC issued the interim measures to protect retail investors from engaging in funds that may not be appropriate for their financial objectives, circumstances, or needs," the regulator noted.


"The Australian Securities and Investments Commission is concerned that Perpetual did not appropriately consider these features and risks when choosing the wide target markets for the products."


The government expects Perpetual to take "immediate measures" to ensure compliance.


Reuters requested a response from Perpetual but did not receive a prompt reply.