un agencies seek to unlock climate financing for afghanistan amid crisis

The United Nations is working to unlock climate financing for Afghanistan, which has been unable to access such funds since the Taliban"s takeover in 2021. The country faces severe climate challenges, including drought and floods, and U.N. agencies aim to enhance its resilience through new project financing. If successful, this would mark the first influx of international climate funds into Afghanistan in three years.

ew global carbon market set to enhance climate action under paris agreement

COP29 has marked the adoption of global carbon market standards, establishing a new international carbon market under Article 6.4 of the Paris Agreement. This mechanism, similar to the Clean Development Mechanism, introduces the Paris Agreement Crediting Mechanism (PACM) to facilitate emission reductions and includes a carbon removal standard. A6.4 emission reductions (A6.4ERs) will replace Certified Emission Reductions (CERs) and provide a pathway for transitioning existing CDM projects.

Poland supports European joint bonds for defense financing initiative

Poland"s Foreign Minister Radoslaw Sikorski announced support for the issuance of European joint bonds to finance defense spending. This initiative received backing from his counterparts from France, Italy, Germany, and the UK during a meeting he hosted in Warsaw.

efg international reports strong net inflows and profit growth in 2024

EFG International reported robust net inflows of 7.4 billion francs ($8.4 billion) in the first ten months of 2024, achieving an annualized growth rate of 6.3%, surpassing its target. All regions, particularly Asia Pacific and Latin America, experienced double-digit growth, contributing to a total of approximately 159 billion francs in assets under management. Despite a decline in net profit to 260 million francs from 303.2 million francs in 2023, the bank"s CEO highlighted strong client trust and the impact of strategic hires made in 2023.
09:08 20.11.2024

uth african inflation drops to four year low ahead of rate decision

South Africa"s inflation rate fell to 2.8% in October, the lowest in over four years, down from 3.8% in September. This decline suggests a potential reduction in borrowing costs, as it was below the 3% median estimate from economists surveyed.

UK inflation rises to six-month high driven by higher energy costs

UK inflation rose to a six-month high in October, driven by higher energy bills, surpassing the Bank of England"s target rate of 2%. In response to previous low inflation rates, the bank raised its main interest rate by 0.25% to 4.75%, marking the second increase in three months.

Medtronic stock outlook improves amid strong product pipeline and diabetes growth

UBS has raised its price target for Medtronic to $93, maintaining a Neutral rating, following the company"s second fiscal quarter performance that exceeded sales expectations. The firm highlights consistent mid-single-digit organic sales growth and positive momentum in the Diabetes segment, alongside the anticipated launch of new products like the Affera Mapping and Ablation System. Despite a slight deceleration in growth, Medtronic"s strong financials and dividend history position it favorably in the healthcare market.
09:03 20.11.2024

Swiss stock exchange opens higher amid mixed global market signals

The Swiss stock exchange opened higher, with the SMI Index rising 0.68% to 11,619.79 points. Investors are reacting to mixed signals from Wall Street and Asian markets, while awaiting Nvidia's earnings report, which could influence global markets. Notable stock movements include Holcim up 2.46% and Lonza up 1.56%.
09:02 20.11.2024

efg international poised for record profit amid strong cash inflows

EFG International is set to surpass last year's net profit, with over 260 million Swiss francs earned in the first 10 months of 2024. The bank reported strong cash inflows of 7.4 billion francs, raising assets under management to 159 billion francs. CEO Giorgio Pradelli noted increased client activity amid market volatility and indicated potential for future acquisitions.
09:02 20.11.2024

Appenzeller Kantonalbank recognized as top bank for private customers in Switzerland

Appenzeller Kantonalbank (APPKB) has been recognized as the best bank for private customers in Eastern Switzerland, according to a Statista survey in collaboration with "Handelszeitung." The bank also secured the second-best customer service ranking in Switzerland, reflecting its commitment to a straightforward product range and exceptional service. Director Ueli Manser expressed gratitude for the awards, viewing them as a strong endorsement from customers.
09:01 20.11.2024
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