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PayU, the fintech arm of Prosus, has acquired a 43.5% stake in Mumbai-based Mindgate Solutions, which specializes in real-time payments technology and supports India's Unified Payments Interface (UPI). This investment enhances PayU's footprint in India's digital payments sector and aims to develop scalable payment infrastructure as UPI transactions are expected to reach 100 billion monthly by 2030. Mindgate, which processes over 8 billion transactions monthly, operates across various regions including MENA, ASEAN, Europe, and the US, and the partnership seeks to drive innovation in real-time digital payments.
Howard Capital Management Inc. increased its stake in Hess Corporation to 1,809 shares valued at $241,000, while Parkside Financial Bank & Trust raised its holdings by 18% to 629 shares worth $84,000. Hess announced a quarterly dividend of $0.50, with a yield of 1.27%, and a payout ratio of 22.22%. Analysts have mixed ratings on Hess, with a consensus of "Moderate Buy" and a price target of $170.60, while recent earnings estimates have been adjusted downward by Capital One Financial.
Xpeng has launched its first self-branded EV supercharging station in Hong Kong, marking its expansion beyond mainland China. Located at Convention Square in Wan Chai, the station offers charging speeds of up to 360 KW, exceeding Tesla’s 250 KW superchargers. The initiative aims to enhance ultra-fast charging technology in Hong Kong, with plans for further expansion into Southeast Asia as EV adoption increases.
Malaysia Airlines' parent company has placed an order for 30 Boeing 737 MAX planes, with the possibility of acquiring an additional 30. This move is seen as a strategy to appease American interests and avoid scrutiny from President Donald Trump.
UBS has upgraded CIMB Group Holdings Bhd to a "buy" rating from "neutral," setting a target price of MYR 8.50. This follows a 15% decline in share price after the announcement of CIMB's F30 medium-term strategy and ROE targets, which did not meet market expectations. The analyst noted that the high proportion of foreign shareholders and negative sentiment towards Indonesian banks may have influenced the stock's performance.
UBS analyst Aakash Rawat has upgraded CIMB Group Holdings Bhd from Neutral to Buy, setting a target price of MYR 8.50 following a 15% drop in shares. This decline was attributed to the company's new F30 strategy and unmet return on equity targets, alongside negative sentiment affecting Indonesian banks. The upgrade suggests a renewed confidence in CIMB's future performance, potentially presenting a buying opportunity for investors.
Heathrow Airport is closed due to a fire causing a power failure, while UBS threatens to relocate its headquarters amid capital demand concerns. FedEx and Nike both reported disappointing quarterly results, leading to significant stock declines. In Europe, various companies announced strategic moves, including Alfa Laval's acquisition of Fives group's cryogenics unit for €800 million and Energean's termination of an agreement with Carlyle.
Sean Tay, the former head of UOB Private Bank’s Malaysia market, is set to join BNP Paribas Wealth Management, focusing on the Southeast Asian market. Sources indicate that the move is imminent, although the bank has not commented on the hiring.
Microsoft is set to launch its first cloud region in Malaysia, named Malaysia West, by mid-2025. This new region will feature three data centers in the greater Kuala Lumpur area, with operations expected to commence in the second quarter of 2025. This initiative follows a significant US$2.2 billion investment aimed at enhancing cloud and AI services in the country over the next four years.
Huawei has launched its Pura X smartphone, the first in its flagship series to run entirely on HarmonyOS Next, featuring an AI assistant capable of humanlike emotional interactions. The device, powered by Huawei's Pangu large language model and enhanced by DeepSeek's AI, marks a significant step in the company's efforts to reduce reliance on Android. As Huawei aims to expand its ecosystem, it has attracted major apps to its AppGallery, while its smartphone market share in China has seen a rise despite ongoing challenges in the global market.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
PayU acquires significant stake in Mindgate to enhance digital payments in India
01:30 23.03.2025
hess corporation announces dividend and updates on institutional investments
11:33 22.03.2025
Xpeng opens first supercharger station in Hong Kong expanding EV infrastructure
03:40 22.03.2025
Malaysia Airlines parent company orders 30 Boeing 737 MAX planes
18:07 21.03.2025
ubs upgrades cimb group to buy with target price of myr 8.50
16:55 21.03.2025
ubs upgrades cimb group to buy with new price target of myr 8.50
16:54 21.03.2025
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