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RedDoorz achieved its first profitable year in 2024 by focusing on operations in Indonesia and the Philippines, withdrawing from Singapore and Vietnam, and diversifying its offerings to include upscale accommodations. Meanwhile, Indian startup Nivara secured $28 million in funding to enhance its tech platform and expand its market reach. In other news, Microsoft CEO Satya Nadella plans a visit to South Korea, and Zomato faces an insolvency petition over unpaid dues.
Morgan Stanley forecasts that the Bank of Korea will implement three additional interest rate cuts this year, bringing the base rate down to 2%. Following a recent reduction from 3% to 2.75%, the bank's Monetary Policy Committee acknowledged increasing downward growth pressures, prompting this continued easing. Morgan Stanley projects South Korea's economic growth at 1.2%, below the Bank of Korea's estimate of 1.5%.
Photronics, Inc. reported earnings of $0.52 per share for the last quarter, surpassing expectations of $0.47, with revenues of $212.14 million. Analysts project an annual EPS of 2.3, while DA Davidson raised its target price to $35.00, maintaining a "buy" rating. Institutional investors hold 88.38% of the company's stock, with recent insider sales totaling 209,000 shares.
Morgan Stanley forecasts that the Bank of Korea will implement three additional interest rate cuts this year, bringing the benchmark rate down to 2.00%. This prediction follows a more pessimistic economic growth outlook of 1.2% compared to the Bank of Korea's 1.5%. The Monetary Policy Committee acknowledged increased downward pressure on growth, influenced by a weakened labor market and high household debt, while also addressing inflation and foreign exchange volatility concerns.
Samsung's CEO announced the company's intention to pursue strategic deals as it faces challenges in achieving growth. This move reflects the company's proactive approach to navigate a competitive market landscape and enhance its business prospects.
Morgan Stanley has upgraded SK Hynix Inc. from underweight to equal-weight, acknowledging a misjudgment in their previous downgrade last September. The analysts noted that the anticipated cyclical underperformance and increased competition in the high-bandwidth memory market leading into 2025 have not occurred, as the stock has rallied on positive outlooks for the company's advanced memory chip supply.
Samsung Electronics is bracing for a challenging annual general meeting on March 18, 2025, as shareholders express concerns over the company's ability to capitalize on the AI boom. The tech giant has acknowledged a decline in its competitive edge in semiconductors, particularly trailing behind SK Hynix in high bandwidth memory chips crucial for AI graphics processing units. Internal communications reveal worries about stagnation, with efforts now focused more on maintaining the status quo rather than fostering innovation.
BNP Paribas Exane has upgraded BorgWarner to an "Outperform" rating from "Neutral," setting a price target of $36. BorgWarner specializes in automotive equipment, with net sales primarily from air management products (41.8%) and e-propulsion & drivetrain products (39.5%), among others. The company operates 84 production and assembly sites globally, with significant sales in China (20.3%) and the United States (15.9%).
LG Electronics India has received approval from SEBI for its IPO, which will raise funds through an offer for sale. Each share carries a face value of Rs 10, allowing the parent company to offload its stake without generating fresh capital for the company.
Manchester United has announced a 5% increase in season ticket prices for the 2025-26 season, despite calls from fan groups for a freeze. While under-16 ticket prices remain unchanged, the club is introducing a new pricing structure for high-profile matches. This decision comes amid ongoing financial challenges, with cumulative losses of £410 million over the past seven years.
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RedDoorz achieves profitability by focusing on core markets and upscale offerings
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04:29 18.03.2025
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