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Morgan Stanley Investment Management has announced a portfolio management change for the Morgan Stanley China A Share Fund, Inc. In other news, Indian equities continued to rise, driven by gains in banks and energy stocks, while Citigroup adjusted its price target on Morgan Stanley to $125, maintaining a neutral rating. Additionally, Morgan Stanley raised its GDP growth forecast for China in 2025.
EOG Resources' stock price target has been reduced from $165 to $160 by UBS, while maintaining a Buy rating. The adjustment follows mixed fourth-quarter 2024 results and disappointing first-quarter 2025 projections, despite the company’s strong financial position and commitment to shareholder returns through buybacks. EOG reported an EPS of $2.74, exceeding expectations, but revenue fell short at $5.6 billion.
UBS has lowered its price target for EOG Resources from $165 to $160 while maintaining a buy recommendation, as the company reported mixed Q4 2024 results with earnings per share of $2.74 but revenue of $5.6 billion falling short of expectations. Despite production shortfalls and rising costs, EOG's strong financial position, commitment to shareholder returns, and strategic investments in international expansion are seen as positive indicators for future growth. The company plans to keep its capital expenditure at $6.2 billion for 2025, targeting production growth of 3% for oil and 6% for total production.
Ramzi Issa, a former UBS banker known for pioneering debt-for-nature swaps, has launched Enosis Capital, a Delaware-based credit fund, following his departure from UBS in October. The firm aims to focus on debt conversions and impact-focused transactions, leveraging Issa's expertise in the growing market for such deals. Recent participants in debt swaps include JPMorgan Chase, Bank of America, and Standard Chartered, with countries like El Salvador, Barbados, and Ecuador securing agreements.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of a senior banker who specialized in such transactions. The Swiss bank, initially part of the consortium, ultimately did not participate in the deal following this key exit.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of senior banker Ramzi Issa, who had specialized in such transactions. The deal, aimed at refinancing local debt to fund improvements in water and sewage systems, is now being reconsidered with UBS exploring a smaller $50 million role. The transaction, backed by two multilateral lenders, focuses on local-currency debt, limiting its appeal to global banks.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of senior banker Ramzi Issa, who had specialized in such transactions. The deal, aimed at refinancing local debt to fund improvements in water and sewage systems, is now being reconsidered with a potential smaller role for UBS in the new year. The transaction, backed by two multilateral lenders, focuses on local-currency debt, limiting its appeal to global banks.
Barbados has completed a $125 million debt swap aimed at enhancing the resilience of its water and sewage systems against climate change. The initiative, arranged by a unit of the Canadian Imperial Bank of Commerce, is supported by $300 million in guarantees from the European Investment Bank and the Inter-American Development Bank. The funds will be utilized to replace some of the island's most costly debt.
At COP29 in Baku, countries made progress on carbon market rules under the Paris Agreement, particularly Article 6, but concerns remain over the quality of credits and transparency in emissions trading. The global goal on adaptation faced delays due to financial disagreements and a lack of consensus on implementation indicators. Meanwhile, the Lima Work Programme was renewed for another decade, focusing on gender-responsive climate policies despite pushback on human rights language from some nations.
At COP29, Barbados Prime Minister Mia Mottley proposed innovative funding solutions to combat climate change, including levies on business class flights, stock and bond trades, and a $5-a-ton tax on fossil fuel emissions, potentially raising $350 billion annually. Mottley emphasized the urgency for developing nations to secure climate finance, as extreme weather risks escalate. Alongside leaders like Spain's Pedro Sanchez, who advocated for fossil fuel taxes, they aim to ensure polluters contribute to climate efforts, with discussions set for COP30 in Brazil.
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Morgan Stanley announces management changes for China A Share Fund
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13:46 24.03.2025
eog resources price target lowered to 160 while maintaining buy rating
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ubs lowers eog resources price target but maintains buy recommendation
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Former UBS Banker Launches Credit Fund Focused on Debt-for-Nature Swaps
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13:14 17.12.2024
ubs withdraws from barbados debt swap after key banker departs
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13:15 12.12.2024
Barbados secures 125 million debt swap for climate resilience initiatives
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carbon market breakthrough at cop29 faces scrutiny over emissions reduction effectiveness
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14:49 27.11.2024
leaders propose new levies to fund climate action at cop29 summit
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