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Financial system stable ‘for now,’ but vulnerabilities rising: IMF

Financial system stable ‘for now,’ but vulnerabilities rising: IMF

By Pete Schroeder



a cake made to look like a clock: FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington


© Reuters/YURI GRIPAS
FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington

WASHINGTON (Reuters) – Policymakers’ unprecedented response to the global health crisis has contained risks to the financial system, but a prolonged recession or policy missteps could ignite growing vulnerabilities worldwide, the International Monetary Fund warned on Tuesday.

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The world’s largest multilateral lender said that some banking systems could experience capital shortfalls should the economic downturn in those regions continue, and growing debt burdens in both the private and public sectors could pose future challenges to financial markets.

Given ongoing uncertainty over how quickly the COVID-19 pandemic can be brought under control, the IMF warned that policymakers need to be prepared to continue to provide broad support, and gradually withdraw it only once the pandemic is fully under control.

“As economies reopen, accommodative policies will be essential to ensure that the recovery takes hold and becomes sustainable,” the group wrote in its Global Financial Stability Report ahead of its virtual summit with the World Bank in place of its usual fall in-person gathering.

Video: More corporate job cuts are likely without new stimulus measures (CNBC)

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“Many countries have entered the crisis with elevated preexisting vulnerabilities in some sectors – asset management, nonfinancial firms, and sovereigns – and vulnerabilities are rising,” it added.

While the overall financial system is well-capitalized, for example, there is a “weak tail” of banks, particularly in emerging markets, that could struggle. The growing role of nonbanks in the financial system poses another risk, as these companies do not face the same strict capital and liquidity requirements as banks, the IMF said.

For example, it warned that asset managers could be forced

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The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific

The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific

While the Asia-Pacific region treads water until a coronavirus vaccine is found, the West’s biggest economies are drowning as a second wave firmly establishes itself in Europe.



a group of people standing in front of a crowd: Mandatory Credit: Photo by Top Photo Corporation/Shutterstock (10739563a) Eric Chou performs in concert and invited Ella to be his special guest. Eric Chou in concert, Taipei, Taiwan, China - 09 Aug 2020


© Top Photo Corporation/Shutterstock
Mandatory Credit: Photo by Top Photo Corporation/Shutterstock (10739563a) Eric Chou performs in concert and invited Ella to be his special guest. Eric Chou in concert, Taipei, Taiwan, China – 09 Aug 2020

Europe is now reporting more daily infections than the United States, Brazil, or India — the countries that have been driving the global case count for months — as public apathy grows towards coronavirus guidelines. Several countries are seeing infection rates spiral again after a summer lull that saw measures to contain the virus and travel restrictions relaxed.



a man wearing a suit and tie: US President Donald Trump removes his mask on his return to the White House from Walter Reed National Military Medical Center, where he was treated for coronavirus.


© Win McNamee/Getty Images North America/Getty Images
US President Donald Trump removes his mask on his return to the White House from Walter Reed National Military Medical Center, where he was treated for coronavirus.

In the United Kingdom, for example, questions are being asked about whether Prime Minister Boris Johnson’s decision to lift the country’s lockdown in June was premature. Northern England’s current high rates of Covid-19 are down to the fact that infections “never dropped as far in the summer as they did in the south,” Jonathan Van-Tam, Britain’s deputy chief medical officer, told a press conference on Monday.



a large crowd of people: Thousands of revelers gathered at an open air water park in the Chinese city of Wuhan, ground zero of the pandemic, for an electronic music festival in August.


© STR/AFP/AFP via Getty Images
Thousands of revelers gathered at an open air water park in the Chinese city of Wuhan, ground zero of the pandemic, for an electronic music festival in August.

It is just the latest problem to beset Britain’s slapdash pandemic response. There are now more patients in hospital with Covid-19 in England than there were in March, when a nationwide lockdown was imposed, according to Johnson and health officials.

France and the Netherlands broke

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Insights on Antibiotics Market within the Pharmaceuticals Sector | Rising Prevalence of Infectious Diseases to Emerge as a Key Driver

Insights on Antibiotics Market within the Pharmaceuticals Sector | Rising Prevalence of Infectious Diseases to Emerge as a Key Driver

The global antibiotics market is expected to grow at a CAGR of over 3% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201012005594/en/

Technavio has announced its latest market research report titled Global Antibiotics Market 2020-2024 (Graphic: Business Wire)

Learn more about how COVID-19 is impacting the antibiotics market – Request a free sample report

High population densities, rising globalization, and urbanization have increased the colonization of disease-causing pathogens worldwide. Also, the destruction of natural habitats of animals led by deforestation has increased the localization of animals near human habitats. This has increased the risk of infection transmission from animals to humans. In addition, the rising number of dams, poor sanitization, and improper waste management systems have further increased the prevalence of infectious diseases over the years. All these factors are fueling the growth of the global antibiotics market.

Antibiotics Market: COVID-19 Impact Analysis on Related Markets

Global Penicillin Market 2020-2024

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Global Throat Pastilles and Cough Drops Market 2020-2024

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Global Gonorrhea Therapeutics Market 2020-2024

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Antibiotics Market: COVID-19 Impact Analysis on Parent Market

The global pharmaceuticals market is the parent market of the antibiotics market. Within its scope, the pharmaceuticals market covers products and companies engaged in R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our report on the antibiotics market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market

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PAK ETF Is Rising On The Back Of Improved Economic Situation (NYSEARCA:PAK)

PAK ETF Is Rising On The Back Of Improved Economic Situation (NYSEARCA:PAK)

Investment Thesis

Improving macro-economic indicators together with falling COVID-19 cases bode well for Global X MSCI Pakistan ETF (NYSEARCA: PAK). This upward trajectory in the economy is largely due to the reforms instituted by the incumbent government. Considering the current scenario coupled with other material events, PAK ETF is expected to perform better than its regional rivals.

Introduction

Global X MSCI Pakistan ETF at the time of writing this article is trading at NAV of $27.87 per share with a Price-to-Earnings ratio of 8.82x and Price-to-Book Value ratio of 1.04x. In its recent performance, the ETF rose by 16.49 percent within the last three months.

Source: PAK ETF

Source: PAK ETF

On the risk side, the fund has the following risk stats:

Correlation of Pakistan Stock market with PAK ETF

As the above graph shows, this ETF has an extremely high correlation with the performance of the Pakistan Stock Market ((KSE-100 index)). The reason is that the major constituents of the KSE-100 index are also part of the holdings of this ETF. However, the breakdown in the correlation largely occurs due to foreign exchange movements.

Further, the following sectors are part of the KSE-100 index but they are not included in the holdings of PAK ETF.

  1. Tobacco
  2. Refinery
  3. Transport
  4. Telecommunications and Technology
  5. Chemical
  6. Food and Personal care products

The above sectors are not included because the companies that belong to these sectors have lower liquidity and market capitalization. Therefore, any activity or excitement in the share prices of the constituents of these sectors will also lower the correlation between the KSE-100 index and PAK ETF.

Correlation of Pakistan Stock market with the economy of Pakistan

Apart from the small percentage, the majority of the companies that are part of this ETF derive their demand from the economy of Pakistan. Therefore,

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Veterinary Diagnostics Devices Market | Rising Demand for Pet Insurance to Boost the Market Growth

Veterinary Diagnostics Devices Market | Rising Demand for Pet Insurance to Boost the Market Growth

LONDON–(BUSINESS WIRE)–Oct 9, 2020–

The global veterinary diagnostics devices market size is poised to grow by USD 815.28 million during 2020-2024, progressing at a CAGR of almost 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005389/en/

Technavio has announced its latest market research report titled Global Veterinary Diagnostic Devices Market 2020-2024 (Graphic: Business Wire)

The rising demand for pet insurance with growing animal health expenditure is one of the significant veterinary diagnostics market drivers. The rising costs of animal healthcare have increased the need for pet insurance policies. Currently, most insurance companies have reimbursement-based programs that help pet owners in covering unplanned healthcare costs. As a result, pet owners and livestock caretakers are increasingly availing healthcare services for animals. The pet insurance industry is rapidly growing in regions such as North America. These factors are contributing to the growth of the veterinary diagnostics market.


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Report Highlights:

  • The major veterinary diagnostics devices market growth came from the companion animals segment. The increasing pet ownership and the rising healthcare expenditure associated with companion animals are increasing the demand for veterinary diagnostics devices. This will drive the growth of the veterinary diagnostics market over the forecast period.
  • North America was the largest market for veterinary diagnostics in 2019. The rising animal healthcare expenditure, expansion of veterinary clinics and hospitals, and the presence of
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