Turkey is negotiating with the US for a sanctions waiver to continue using Gazprombank for natural gas payments to Russia. Energy Minister Alparslan Bayraktar emphasized that without this exemption, Turkey would be unable to pay for gas imports, jeopardizing its energy supply.
Quebec's GDP growth is now projected at 1.2% for 2024, leading to an $11 billion deficit for the current year, partly due to a $2.5 billion increase in portfolio spending. The government plans to finance new spending through an increased capital gains tax inclusion rate, expected to generate $2.5 billion over five years. Despite criticisms of austerity, Finance Minister Eric Girard asserts that spending has risen by 6.5% from 2023-2024 to 2024-2025.
In the first half of FY25, women outperformed men in India's formal job market, with new enrollments in the Employees’ Provident Fund (EPF) rising by 5.5% for women, while male enrollments fell by 1.6%. Women's share of new EPF enrollments increased to 27.4%, despite overall enrollments remaining flat. This positive trend is evident across both high-paying and lower-paying job sectors.
Huawei Technologies Co. will transition its smartphones and tablets away from Google's Android to its own HarmonyOS Next starting next year, signaling a shift towards indigenous technology. The new flagship Mate 70 will lead this change as the company aims to reclaim the premium market in China from Apple Inc. and establish a tech ecosystem independent of US providers.
Brent crude oil, silver, and wheat prices have declined amid hopes for a ceasefire between Hezbollah and Israel. Brent crude approached its resistance zone before falling, while silver retested its uptrend line, and US wheat prices hit a three-month low, with key support levels in sight.
IG
09:55 26.11.2024
Motilal Oswal has reiterated a BUY rating for Transport Corporation of India (TRPC) with a target price of Rs 1,290, citing a robust 11% YoY revenue growth in 1HFY25 across its diversified service offerings. The company is expected to maintain a 15% revenue CAGR over FY24-27, driven by strong demand in the supply chain and freight divisions, alongside a strategic focus on multimodal logistics.
Motilal Oswal has reiterated a BUY rating for Dixon Technologies with a target price of Rs 17,500, citing strong growth prospects in the mobile segment despite the PLI scheme ending in FY26. The company is expected to maintain margins through backward integration and expansion into new segments, supporting overall growth.
freenet AG, a network-independent telecommunications provider in Germany, specializes in telecommunications, television, internet, and mobile devices. The company emphasizes direct customer relations through approximately 520 boutiques and 40 GRAVIS stores, alongside exclusive marketing rights for mobile services on Telekom and Vodafone networks in over 400 electronics stores.
09:47 26.11.2024
The UBS Center for Economics in Society at the University of Zurich will see a leadership change as Kaspar Villiger steps down as Chairman of the Foundation Board, with Christian Mumenthaler, former Group CEO of Swiss Re, set to succeed him. Villiger, who played a pivotal role in establishing the center in 2012 through a significant donation from UBS, is praised for his exceptional leadership and commitment to fostering collaboration between science, business, and politics. UBS reaffirmed its support with an additional CHF 27 million donation in 2020 to ensure the center's continued development.
09:44 26.11.2024
UBS and Goldman Sachs have raised their price targets for Zurich, following a positive share price reaction after the capital market day. The UBS analyst has increased EPS forecasts for 2025 and 2026 by 4% and 6%, respectively, while noting that other insurance stocks like Axa and Swiss Re appear more attractive.
09:43 26.11.2024
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