New Zealand's central bank is poised to cut interest rates by 50 basis points for the second consecutive meeting, bringing the Official Cash Rate down to 4.25%. This move positions the Reserve Bank as one of the most aggressive rate cutters among its western counterparts, with one analyst predicting a potential 75-point reduction.
The Cabinet has approved a Rs 3,700 crore investment for two hydro power projects in Arunachal Pradesh, including the 186 MW Tato-I Hydro Electric Project in Shi Yomi District, which will generate 802 million units of energy. The project, set to be completed in 50 months, will be a joint venture between NEEPCO and the state government, providing 12% free power and enhancing local infrastructure and socio-economic development. The Centre will also support the project with Rs 77.37 crore for infrastructure and Rs 120.43 crore for equity.
Sachidanand Upadhyay, Managing Director of Lords Mark Industries Ltd, is a visionary leader dedicated to fostering positive change across various sectors, including Solar, Diagnostics, and MedTech. With a career spanning 25 years, he has successfully diversified the company into emerging markets such as EV, insurance, and biotech, while also exploring global expansion opportunities. His entrepreneurial journey began in 1998, following significant roles in major corporations, and he continues to drive innovation and excellence within the group.
Pierer Industrie AG is working to extend the maturity of nearly €250 million in debt due to financial challenges at its KTM motorcycle unit. The company, led by entrepreneur Stefan Pierer, has begun a restructuring process aimed at preventing creditors from demanding early repayment, without reducing their claims.
Dealmaking surged on Monday with approximately $35 billion in mergers and acquisitions, signaling a post-US election boost. The most significant deal involved Quikrete Holdings Inc. agreeing to acquire Summit Materials Inc. for about $11.5 billion, aiming to expand its presence in the US building materials market.
UBS analysts indicate that the "Trump put" now favors Treasuries over equities, reflecting a shift in economic conditions since 2016. With inflation and interest rates posing significant challenges, the administration may prioritize disinflationary policies to manage rising inflation and market volatility. Investors should prepare for a turbulent price discovery process as these dynamics unfold.
16:46 25.11.2024
BP Plc is optimistic about growth in the US under President-Elect Donald Trump, anticipating regulatory improvements in the oil and gas sector. CEO Murray Auchincloss expressed hope for expedited construction and permitting processes, driven by rising energy demand and advancements in artificial intelligence.
Eastman Kodak's pension plan board has sold a portfolio of illiquid assets to the Mastercard Foundation and is contemplating winding down the remaining fund. This move aims to access the approximately $1 billion surplus accumulated over the years, with asset management positioning underway for a potential sale.
Tesla's director now owns 5,400 shares valued at approximately $1.87 million after a significant sale that reduced their ownership by nearly 95%. Over the past 90 days, insiders sold 301,187 shares worth about $93 million, while institutional investors hold 66.20% of the stock. UBS Group raised its price target for Tesla to $226, despite maintaining a "sell" rating, as analysts generally rate the stock as a "Hold" with an average target of $231.06.
16:41 25.11.2024
India's strong rejection of the climate finance deal at COP29 highlights its commitment to advocating for the Global South, demanding higher support from wealthy nations. The agreed $300 billion annual target by 2035 falls short of the $1 trillion sought by developing countries, reflecting ongoing frustrations over inadequate financial commitments for climate action. India's stance signals a broader call for richer nations to fulfill their responsibilities, as developing countries face increasing pressures to transition to low-carbon pathways without sufficient support.
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