Billionaires are relocating more frequently since the onset of the Covid-19 pandemic, with Switzerland, the UAE, Singapore, and the US emerging as top destinations. Approximately one in 15 of the world’s 2,682 billionaires has moved since 2020, bringing with them around $400 billion in capital, predominantly to the Middle East and Africa.
India's benchmark indices, Sensex and Nifty, rebounded sharply on December 5, with the Sensex rising 1,000 points from its low, driven by gains in IT stocks and Reliance Industries. As of 12:20 pm, the Sensex was up 500 points to 81,450, while Nifty gained 133 points to 24,600. Titan led the gains, while NTPC was the top laggard. Sector performance showed Nifty IT as the top gainer, despite mixed market breadth.
A survey of 2,682 billionaires reveals a 121% increase in their collective wealth to $14 trillion from 2015 to 2024, outpacing the MSCI AC World Index's 73% gain. Looking ahead, 19% plan to significantly boost real estate investments, while 7% aim to increase exposure to gold and precious metals amid geopolitical concerns. Additionally, multigenerational billionaires are set to inherit $6.3 trillion over the next 15 years, reflecting rising asset values and an aging billionaire demographic.
07:58 05.12.2024
Blackstone Inc. is negotiating a multi-currency loan of approximately A$4 billion ($2.6 billion) for AirTrunk Pte., an Australian data center operator. The private equity firm is in discussions with around 10 banks, including DBS Group, Standard Chartered, and Sumitomo Mitsui, as loan terms are being finalized.
Geojit Financial Services has upgraded Jyothy Labs to a BUY rating with a target price of Rs 496, citing expected demand improvement in H2FY25 despite flat revenue growth in Q2FY25. The company reported a 3% YoY volume growth, while EBITDA margin improved to 18.9%. Challenges include rising input prices and a high base effect, but a strong distribution focus and new product launches are anticipated to drive future growth.
Martina Bonati, daughter of former Zuger Kantonalbank Chairman Bruno Bonati, has been appointed to the Executive Board, overseeing private and corporate client business. With a strong background, including a Master's in Finance and previous experience at CS, her rise follows her father's departure in 2018, suggesting a continuation of family influence within the bank.
07:51 05.12.2024
Martina Bonati has been appointed as the new Head of the Private and Corporate Clients department at Zuger Kantonalbank, joining the Executive Board. She succeeds Daniela Hausheer, who will leave the bank in June 2025. Bonati has been with Zuger Kantonalbank for eight years, previously overseeing corporate development and project management.
07:48 05.12.2024
CDSL's stock surged over 8%, reaching a new all-time high, with a remarkable year-to-date increase of over 100%, outpacing the Nifty 50's 12% rise. In Q2 FY 2024-25, the company reported a 49% year-on-year increase in net profit to Rs 162 crore, while revenue soared 55.5% to Rs 322 crore. CDSL also achieved a significant milestone, surpassing 13.5 crore registered demat accounts, with 1.18 crore new accounts added in the quarter alone.
The artificial intelligence in healthcare market is projected to grow significantly, reaching $52.2 billion by 2028, driven by factors such as the rise in precision medicine adoption and digital transformation in healthcare. In 2023, the market size was $13.48 billion, with a notable CAGR of 33.3% expected in 2024. Key trends include the use of AI in clinical trials and drug discovery, alongside increasing government support and funding for AI initiatives in healthcare.
Economists are expressing caution regarding growth in Hong Kong and Singapore for the upcoming year, as Donald Trump's potential return to the White House could lead to increased tariffs, further impacting China's economy. Recent estimates indicate a reduction in quarterly outlooks for Hong Kong through the first half of 2025 by at least 0.5 percentage points, with the yearly growth forecast adjusted down to 2.2% from 2.6%, according to a Bloomberg survey of 29 economists.
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