Raiffeisen Bank International AG has completed the sale of Priorbank JSC to Soven 1 Holding, a transaction initially announced in February 2024. CEO Johann Strobl highlighted the sale as a key move to reduce risk in Eastern Europe, acknowledging the dedication of Priorbank's staff since 2003. The transaction will negatively impact the Group's Common Equity Tier 1 ratio by 5 basis points and result in a loss of approximately EUR 830 million recognized in discontinued operations.
16:15 29.11.2024
The European Central Bank will not intervene in government-bond-market fluctuations caused by political risks, according to Governing Council member Joachim Nagel. He emphasized that the focus of the Governing Council's actions remains strictly on monetary policy, despite rising French borrowing costs linked to budget uncertainties.
Black Friday in Switzerland has started slowly this year, with many stores, particularly clothing and shoe retailers, seeing few customers despite advertising discounts. While Zurich's Bahnhofstrasse was busy, shoppers appeared more interested in browsing than buying. The Apple store was notably crowded, but without specific Black Friday promotions. Expectations for increased foot traffic are set for Saturday, as discount campaigns often extend through the weekend, and many shoppers are likely to turn to online deals on Cyber Monday.
Raiffeisen Bank International AG has completed the sale of Priorbank JSC to Soven 1 Holding, a move aimed at reducing risk in Eastern Europe. The transaction, which was announced in February and signed in September 2024, will negatively impact the Group's Common Equity Tier 1 ratio by 5 basis points and result in a loss of approximately EUR 830 million recognized in discontinued operations. CEO Johann Strobl expressed gratitude to Priorbank's staff for their service since 2003.
16:06 29.11.2024
Glarner Kantonalbank's share price increased by 0.44% to 22.60 euros on November 29, 2024, despite a monthly decline of 1.96%. The bank's market capitalization is 305.1 million euros, with a P/E ratio of 11.37 for 2024, indicating a need for shareholders to consider their investment strategy.
16:06 29.11.2024
Plastics negotiations in Busan are at an impasse, with a coalition of 102 countries advocating for production cuts, opposed by oil-rich states like Saudi Arabia and Russia. As talks near conclusion, calls for compromise intensify, while activists warn against a weak treaty that fails to address the full lifecycle of plastics. The financial framework remains contentious, with developing nations seeking a multilateral fund, contrasting with developed countries' preference for voluntary contributions.
India's GDP growth slowed to 5.4% in Q2, the lowest in seven quarters, driven by a significant decline in mining and subdued manufacturing. Economists urge the government to increase infrastructure and revenue spending to stimulate demand and reverse this trend, as capital expenditure fell notably in the first half of the fiscal year.
Chief Economic Advisor V. Anantha Nageswaran expressed optimism for a rebound in India's GDP growth, despite a slowdown to 5.4% in Q2 FY25, citing potential for increased capital expenditure in the coming months. He acknowledged challenges from geopolitical conditions and export uncertainties but emphasized that while growth is disappointing, it is not alarming, highlighting the economy's resilience.
Aster DM Healthcare will merge with Blackstone-backed Quality Care India, enhancing its competitive position against Apollo and Manipal Hospitals. TI Fluid has agreed to a £1.04 billion takeover by ABC Technologies, while a German cement maker is acquiring Giant Cement Holding for $600 million. Reliance Industries has purchased a 21% stake in Wavetech Helium for $12 million, and Macquarie is offering £700.9 million for Renewi. Fortress Investment Group plans to acquire Loungers for approximately £350.5 million.
BGM Group Ltd. has acquired AIX Inc.'s intelligent platform for 1 billion RMB, marking its entry into AI technology and insurance services. This strategic move aims to enhance BGM's capabilities in the pharmaceutical sector while fostering growth in healthcare and insurtech, leveraging AIX's innovations. The collaboration is expected to create new opportunities and expand market reach for both companies.
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