India's wedding season, spanning October to December, is expected to drive significant demand across consumer sectors, with around 48 lakh weddings anticipated. Analysts predict a surge in business, particularly in jewellery, retail, and hospitality, with the market projected to generate Rs 6 lakh crore, up from Rs 4.7 lakh crore last year. Companies are optimistic about sustained growth, bolstered by increased auspicious wedding dates and favorable policy changes, such as reduced customs duty on gold.
UBS has rated Aroundtown as 'Neutral' with a target price of €2. The stock saw a notable increase, closing at €3.04, up 5.19% from the previous day. Trading activity varied across platforms, with prices ranging from €2.877 in Hanover to €3.106 in Hamburg.
12:23 27.11.2024
A high-level Swiss court has acquitted Credit Suisse of a 2022 conviction for failing to prevent money laundering linked to a Bulgarian cocaine trafficking gang. The Appeals Chamber of the Federal Criminal Court stated that the charge was dismissed and the compensation claim against the bank was withdrawn. Credit Suisse, which went bankrupt in 2023 and was subsequently taken over by UBS, faced numerous scandals and setbacks leading to its downfall.
12:18 27.11.2024
A top Swiss court has acquitted Credit Suisse of a 2022 conviction related to money laundering for a Bulgarian cocaine trafficking gang. The Federal Criminal Court's appeals chamber lifted the compensation claim against the bank, which is now part of UBS following its collapse in 2023 amid various scandals.
12:18 27.11.2024
Lotte Group plans to pledge South Korea's tallest building as collateral to address liquidity concerns at its battery materials unit. This move follows Lotte Chemical Corp.'s failure to meet a financial ratio due to a downturn in the petrochemical industry. A bondholder meeting is scheduled for Dec. 19 to discuss adjustments to the interest coverage ratio clause.
Abu Dhabi National Oil Co. is set to launch a new investment company named XRG in the first quarter of next year, focusing on international natural gas, chemicals, and low-carbon energy operations. With an enterprise value exceeding $80 billion, XRG aims to more than double its asset value over the next decade.
A top Swiss court has acquitted Credit Suisse of a 2022 conviction related to money laundering for a Bulgarian cocaine trafficking gang. The Federal Criminal Court's appeals chamber lifted the compensation claim against the bank, which collapsed in 2023 and was taken over by UBS.
12:15 27.11.2024
E-retailers on platforms like Amazon and Flipkart have argued in the Karnataka High Court that the ongoing Competition Commission of India (CCI) investigation against them exceeds its original mandate. The group, including Rocket Kommerce LLP and Sane Retail, is seeking exclusion from the probe, which the court has temporarily stayed. The case is being heard by Justice Hemant Chandangoudar.
State Bank of India has successfully raised Rs 50,000 crore in FY25, with a recent Rs 10,000 crore from infrastructure bonds. The fundraising includes Rs 5,000 crore in AT1 Bonds, Rs 15,000 crore in Tier 2 Bonds, and Rs 30,000 crore in Long Term Bonds, all of which were oversubscribed by more than two times.
Global smartphone sales saw a strong rebound in 2024, increasing by 6.2% to an estimated 1.24 billion units, but Apple’s growth was minimal at just 0.4%. While Apple remains the profit leader with an average selling price over $1,000, Android competitors are rapidly gaining market share, particularly in China and emerging markets. The recovery was driven by pent-up demand and the availability of more affordable devices, although AI enhancements did not significantly attract consumers.
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