Japanese companies are increasing service prices at the fastest rate since 1992, passing on rising labor costs to customers. Producer prices for labor-intensive services rose 3.3% in October compared to the previous year, indicating a potential shift in the economic cycle as firms adjust to higher expenses.
Standard Chartered Plc is poised to become the primary settlement bank for real-time dollar-denominated trades in India's emerging financial hub, as reported by sources familiar with the situation. This development highlights the bank's leading role in facilitating international transactions in the region.
Jefferies has issued a 'Buy' rating on Reliance Industries, setting a target price of ₹1,700 per share, anticipating improved Singapore Gross Refining Margins and strong growth in Jio's home broadband subscriptions. Meanwhile, HSBC warns that new limits on microfinance lending will likely slow AUM growth and increase credit costs, while credit card issuance has seen a significant decline as lenders adopt a more conservative approach.
At RSNA 2024 in Chicago, Philips will unveil innovations aimed at enhancing sustainable healthcare, including a helium-free MRI portfolio that has saved over 2.75 million liters of helium since 2018. The company emphasizes the importance of reducing environmental impact, with 99% of APAC healthcare leaders prioritizing sustainability initiatives. Philips' solutions focus on improving patient care while minimizing emissions through advanced technologies and collaborative strategies.
The return of President-elect Donald Trump could reignite trade tensions, particularly through potential tariffs on Chinese imports, which may impact global economic growth. However, UBS analysts believe Asia is better equipped to handle these challenges than during the 2018-2019 trade war, thanks to improved supply chain integration and a resilient growth outlook.While smaller, export-dependent economies like South Korea and Taiwan may face modest slowdowns, larger markets such as India and Indonesia are expected to remain less affected. Overall, the net impact on Asian growth is projected to be limited, with strong earnings growth anticipated in key sectors like artificial intelligence and greentech by 2025.
03:20 26.11.2024
Pine Labs has selected five investment banks, including Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies, to advise on its upcoming $1 billion IPO, expected in the first half of FY26. Axis Capital is the sole domestic banker, reflecting the company's strong ties with Axis Bank. IPO preparations are currently underway, although Pine Labs has not responded to inquiries regarding the matter.
Premier Energies is in the spotlight after securing multiple orders totaling Rs 1,087 crore from two large Independent Power Producers and another customer. The orders include Rs 964 crore for Solar Modules and Rs 123 crore for Solar Cells, with supply set to begin in January 2025.
Ashoka Buildcon has secured a project worth Rs 1,391 crore from the National Highways Authority of India (NHAI) for the development of a 4-lane economic corridor in West Bengal, to be completed in 910 days. In Q2FY25, the company reported a four-fold increase in net profit to Rs 462 crore, up from Rs 106 crore year-on-year, with a 15.5% rise in revenue from operations to Rs 2,489 crore.
U.S. markets experienced optimism on November 25 as President-elect Trump’s tariff plans led to a dollar rally. He announced a 25% tariff on imports from Mexico and Canada and a 10% tariff on China, citing illegal immigration and drug trade concerns. Additionally, Federal Reserve President Neel Kashkari hinted at a potential rate cut, while discussions for a ceasefire between Hezbollah and Israel progressed, impacting global markets.
Hindustan Unilever's board has granted in-principle approval for the demerger of its ice cream business into a separate entity, which will be listed independently. This decision, aimed at maximizing shareholder value, is pending approval from the board and shareholders, with the scheme to be presented early next year. Shareholders will receive shares in the new entity proportional to their holdings in HUL.
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