Egypt requests IMF to review targets of $8 billion program

Egypt has requested a review of the targets set in its $8 billion program with the International Monetary Fund, according to Prime Minister Mostafa Madbouly. He noted that IMF officials have shown understanding of these practical requests. The fund is expected to complete its latest review of Egypt's 46-month program in the coming days.

popular initiative calls for regional focus and salary caps at blkb

A non-partisan committee has launched a popular initiative urging Basellandschaftliche Kantonalbank (BLKB) to prioritize regional services and cap management salaries. The initiative seeks amendments to the Cantonal Banks Act, emphasizing the bank's role in serving local companies and households, while also limiting management compensation and enhancing oversight by the cantonal council.
17:56 20.11.2024

Basel Committee delays climate risk disclosure deadline to 2025

The Basel Committee on Banking Supervision has postponed the deadline for banks to disclose climate risks, now aiming for a final proposal in the first half of 2025. This decision follows pushback from the US Federal Reserve against earlier proposals, which were set for release later this year.

ubs maintains buy rating for symrise with price target of 138 euros

UBS has maintained its "Buy" rating for Symrise, setting a price target of 138 euros. The company's recent increase in its margin outlook for 2024, announced during a capital market day, is viewed as slightly positive, despite a history of underperformance in this area. Major price movements are not anticipated following the event.
17:54 20.11.2024

court upholds forced sale of broadband provider by sanctioned russian firm

LetterOne Holdings, a UK investment firm established by sanctioned Russian billionaires, has failed to overturn a British government-ordered sale of a broadband provider. The High Court ruled the government's decision was fair and reasonable, dismissing the challenge from the firm founded by Mikhail Fridman, Petr Aven, and German Khan.

upreme court ruling boosts telecom sector with input tax credit benefits

The Supreme Court's recent ruling allows telecom service providers to claim Cenvat credits on excise duties for infrastructure like mobile towers, significantly enhancing the financial health of the telecom sector. This decision is expected to release over Rs 1,000 crore in working capital, facilitating accelerated digital infrastructure development across India. The ruling overturns a previous Bombay High Court decision, aligning with the Delhi High Court's stance and promoting fairness in taxation.

ubs maintains buy rating for symrise with price target of 138 euros

UBS AG maintains a "Buy" rating for Symrise, setting a price target of 138 euros, following the company's raised margin outlook for 2024. Despite a recent 1.0% decline in share price to EUR 103.50, there remains a potential upside of 33.33%. Since the start of 2024, Symrise shares have increased by 5.0%, with Q4 2024 financial results expected on March 5, 2025.
17:43 20.11.2024

Wells Fargo predicts significant stock market growth in 2025 amid economic strength

Wells Fargo anticipates significant stock market gains in 2025, driven by a robust economy and deregulation initiatives under the Trump administration. The outlook reflects confidence in economic growth and favorable market conditions.

Porsche introduces stainless steel credit card with exclusive benefits and discounts

Porsche Financial Services Switzerland has launched a new stainless steel credit card, reflecting the brand's values and design aesthetics. The card offers benefits including 0.75% cashback on purchases, free parking at Zurich and Basel airports, discounts on driving events, and complimentary access to the Porsche Museum. Available for an introductory price of 150 Swiss francs in the first year, it also includes travel insurance and Priority Pass membership for airport lounges.

carson block reveals short position on elf beauty shares at conference

Carson Block, CEO of Muddy Waters Capital, announced at the Sohn conference in London that he is shorting shares of Elf Beauty Inc. His decision stems from concerns regarding the Oakland-based cosmetics company's revenue performance.
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