SAFE to hold third conference

KATHMANDU: South Asian Federation of Exchanges (SAFE) is holding the third edition of its flagship conference ‘South Asian Capital Markets Conference-2010’ in Mauritius on April 22-25.

The conference is being jointly organised by SAFE with the support of the Global Board of Trade (GBOT) Mauritius, MCX-SX-India’s new stock exchange, the Stock Exchange of Mauritius Ltd and with Knowledge Partners; Financial Technologies Knowledge Management Co.

The SAFE conference is being held in the perspective of growing international recognition of South Asia and adjoining countries as a region of rapid growth and development. The rapid growth of economy and finance in India, the potential of consistent development in Pakistan, the economic dividend that Sri Lanka is likely to experience in the wake of its recent victory against the separatists, the inclusive growth approach of Bangladesh, and the emerging prospects for developments in economies like Nepal, Maldives and Bhutan; make the South Asian region a great prospect and promise for international investors.

The South Asian region attracted nearly $20 billion in portfolio flows into stock markets, making it one of the most favoured destinations in the emerging markets, according to the data. With global and domestic policy working towards greater harmony and stability in the region, it is expected to have an accelerated growth of financial markets and also engage a larger per cent of the population in the financial market activity.

The conference is being designed with the theme ‘Expanding Asset Classes: South Asia’. It is expected to be attended by a galaxy of CEOs and heads of various corporates, banks, and financial institutions in South Asia and other regions, with technical sessions engaging in cutting-edge discussions on critical aspects of deepening of South Asian Financial Markets.

The SAFE — also called South Asian Dow Jones — is an initiative towards regional and global integration of the regional capital markets. It’s a non-profit association fashioned under the umbrella of SAARC to endorse the growth of securities market in the region. The existence of SAFE is truly a milestone towards an integrated and amalgamated South Asian securities market with a common objective of development and affluence of the capital markets’ stakeholders in and outside the region.

SAFE has in April reviewed list of South Dow Jones SAFE 100 Index that is developed by Dow Jones for South Asian Federation of Exchanges — a SAARC recognised forum of 23 stock exchanges and other capital markets institutions from eight South Asian countries and the UAE.

Dow Jones SAFE 100 Index has revised the South Asian index delisting nine Indian companies and eight Pakistani companies. Bajaj Holdings Ltd, HCL Technologies Ltd, Hindalco Industries Ltd, Jaiprakash Associates Ltd, Mahindra & Mahindra

Ltd, Siemens India Ltd,

Suzlon Energy Ltd, Tata Motors Ltd and Unitech Ltd are the Indian companies dropped from the index.

Pakistani companies delisted are Adamjee Insurance Co Ltd, Askari Bank Ltd, Bank of Punjab, DG Khan Cement Co Ltd, Faysal Bank Ltd, Indus Motor Co Ltd, Nishat Mills Ltd and Pak Suzuki Motor Co Ltd.

These 17 companies have been replaced by an equal number of companies — six from Bangladesh, nine from India and two from Pakistan — in the Dow Jones SAFE 100 Index. According to SAFE, Dow Jones SAFE 100 Index represents the collective movement, direction and trend of regional stock markets and would enable global investors to use the same as a benchmark for the performance of their investments in the region.