gulf markets react to fed interest rate changes amid mixed performance

Gulf markets are experiencing mixed reactions to the US Federal Reserve's potential slowdown in interest rate cuts, impacting stocks tied to the US dollar. Dubai's index fell 0.6%, with significant losses in utilities and industrials, while Abu Dhabi also dropped 0.6%, despite optimism from Lulu Retail's IPO. Conversely, Qatar rose 0.4% and Saudi Arabia nudged up 0.2%, supported by positive developments in the energy sector.
15:05 18.11.2024

foreign institutional investors sell shares while domestic investors continue buying

On November 18, domestic institutional investors (DIIs) net bought shares worth Rs 2,331 crore, while foreign institutional investors (FIIs) net sold shares worth Rs 1,403 crore. The Sensex closed down 241 points at 77,339, and the Nifty fell 79 points to 23,454, with 1,560 shares advancing and 2,361 declining. Year-to-date, FIIs have net sold Rs 2.84 lakh crore, whereas DIIs have net bought Rs 5.54 lakh crore in shares.

warner bros discovery settles lawsuit with nba ending long partnership

Warner Bros. Discovery has settled its lawsuit with the NBA, ending its 40-year relationship as a live game carrier in the U.S. The league has chosen Disney, Comcast, and Amazon as its new media partners for an 11-year deal valued at approximately $77 billion. Despite the split, Warner Bros. Discovery will retain access to NBA highlights and continue producing "Inside the NBA," which will also air on ESPN and ABC.

goldman sachs plans spin out digital assets platform for financial firms

Goldman Sachs is planning to spin out its digital-assets platform into a new company aimed at enabling large financial firms to create, trade, and settle financial instruments using blockchain technology. Discussions with potential partners are underway, with the goal of executing the spin-out within the next 12 to 18 months, pending regulatory approvals, according to Mathew McDermott, the bank"s global head of Digital Assets.

sbi digital markets and chainlink launch automated fund administration pilot program

SBI Digital Markets, UBS Asset Management, and Chainlink have successfully completed a pilot for automated fund administration using smart contracts, showcasing the potential of tokenized funds to enhance efficiency in the $132 trillion asset management industry. This initiative, part of Singapore's Project Guardian, demonstrates how existing fund processes can be adapted for blockchain technology, enabling real-time transparency and reduced operational costs. The solution is currently live on multiple blockchain testnets, with plans for mainnet deployment.
15:00 18.11.2024

fresenius medical care"s anemia control model showcased at cms ai demo days

Fresenius Medical Care"s Anemia Control Model (ACM) has been selected for the inaugural CMS AI Demo Days, showcasing its innovative use of AI to enhance anemia management in patients with end-stage renal disease. The ACM, already implemented in over 100 clinics, optimizes dosages of erythropoiesis-stimulating agents and iron therapies, improving patient outcomes and quality of life. This recognition underscores the company"s commitment to advancing kidney care through data-driven solutions.

air products and chemicals receives mixed analyst ratings amid hedge fund interest

Air Products and Chemicals, Inc. specializes in atmospheric, process, and specialty gases, serving various industries globally. Hedge funds and institutional investors own 81.66% of the stock, which has received a "Moderate Buy" rating from analysts, with a consensus price target of $331.53. Recent upgrades and downgrades from firms like UBS and Deutsche Bank reflect mixed sentiments, while the stock trades around $317.10, showing a 12-month range of $212.24 to $332.42.
14:52 18.11.2024

german power prices soar on cold weather and reduced renewable output

German power prices surged to their highest level in over a year, driven by forecasts of plunging temperatures and reduced renewable energy output. Next-month futures in Germany increased by 4.4% on Monday, while the equivalent contract in France rose by 4.3%.

cvs partners with glenview capital for four board seats amid challenges

CVS Health has reached an agreement with activist investor Glenview Capital to add four new members to its board, including Glenview CEO Larry Robbins, following the ousting of former chief Karen Lynch. The board will expand to 16 members as CVS aims to enhance value amid challenges in its Medicare Advantage business and ongoing cost-cutting measures.

UK PM Starmer aims for pragmatic ties with China in G20 meeting

UK Prime Minister Keir Starmer met with Chinese President Xi Jinping at the G20 summit, advocating for "consistent, durable" relations focused on trade, economy, and climate. This marks the first leader-level meeting since 2018, aiming to revitalize UK-China ties after years of tension. Starmer emphasized the importance of predictable relations and plans for further economic dialogue, while Xi acknowledged the potential for cooperation between the two nations.
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