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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.
Masdar has expanded its global clean energy initiatives with $12.5 billion in projects across nine countries, including $8.1 billion in equity investments. The company aims for 100GW of renewable energy capacity by 2030 and plans to grow its portfolio to 51GW by the end of 2024, with significant projects in Europe and North America. Recent achievements include financial closures on six projects, such as the 1.1GW Al Henakiyah Solar Power Plant in Saudi Arabia and solar projects in Azerbaijan.
Barclays has appointed Kieran Whitty as Co-Head of Healthcare EMEA, effective June, to enhance its healthcare advisory capabilities. With 18 years of experience at Bank of America, Whitty will work alongside Sid Chhibbar, focusing on strengthening Barclays' position in the healthcare market across Europe, the Middle East, and Africa. His expertise is expected to bolster the firm's existing healthcare practice and support client growth in a competitive landscape.
Greek fintech firm Qualco is considering an initial public offering (IPO) to facilitate its expansion in Europe and the Middle East. This move reflects the company's ambition to enhance its growth trajectory in these regions.
Greek fintech firm Qualco Group is exploring an initial public offering (IPO) to enhance its operations in Europe and the Middle East, with the Athens Stock Exchange as a potential listing venue. Currently, discussions are in the early stages, and no decisions have been finalized regarding the IPO's size or timeline. Qualco specializes in credit management, serving clients in over 30 countries, including major institutions like BNP Paribas and Banco Santander.
The Zacks Foreign Banks Industry, comprising overseas banks operating in the U.S., is currently trading at a significant discount compared to the broader market, with a trailing 12-month P/TBV of 2.38X. Major players like HSBC, Barclays, and NatWest are restructuring to enhance efficiency and focus on core operations, which is expected to drive growth despite challenges from uneven global economic recovery. The industry's positive outlook is reflected in a Zacks Industry Rank of #47, indicating strong earnings potential and a collective stock rise of 22.9% over the past year.
BYD is considering establishing its third European car assembly plant in Germany to enhance brand awareness, despite concerns over high labor and energy costs. Currently, the company is building two NEV plants in Hungary and Turkey, with production set to start in October 2024 and March 2026, respectively. The final decision on the new plant will depend on sales performance in Europe and the capacity utilization of existing facilities.
Brussels was abuzz over allegations that Huawei bribed MEPs, diverting attention from Viktor Orbán's successful veto on renewing sanctions against Russian entities. In a deal to avoid sanctions expiring, EU ambassadors acquiesced to Orbán's demands, illustrating the ease with which he manipulates the EU. Meanwhile, life expectancy in the EU reached a record 81.4 years in 2023, and Germany's centrist parties agreed on a significant infrastructure and defense spending package.
Belgian authorities have arrested several individuals in a corruption investigation involving the European Parliament and Chinese tech giant Huawei. The suspects are accused of engaging in "active corruption" to benefit Huawei through bribery disguised as commercial lobbying, including excessive gifts and payments linked to political positions. The investigation, which has raised concerns about potential money laundering, follows a previous bribery scandal involving EU lawmakers and officials from Qatar and Morocco.
US President Donald Trump has introduced a new "gold card" visa program for foreign investors, requiring a USD 5 million investment for residency and a pathway to citizenship. This initiative replaces the EB-5 program and aims to direct funds to the government to help reduce deficits, rather than solely creating jobs. Golden visa programs are increasingly popular worldwide as a means to attract foreign investment and generate revenue.
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13:46 24.03.2025
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20:37 20.03.2025
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