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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
SGKB has seen a 6.5% increase in corporate clients since the start of 2023, attributed partly to customers moving from larger banks. CEO Christian Schmid indicated that interest rates for savings accounts will depend on the SNB's upcoming assessment, with potential for lower rates and even negative interest rates being considered. The bank aims to maintain a dividend payout ratio of at least 50% of profit and remains committed to supporting the Olma trade fairs as a shareholder.
UBS is optimistic about gold in 2025, driven by lower interest rates, geopolitical risks, and strong dollar diversification trends, which are expected to boost both investor and central bank buying. Despite the current strength of the US dollar, UBS warns it may be overvalued and anticipates a shift towards a weaker dollar, potentially enhancing gold's appeal. Central banks are projected to maintain high gold purchases, supporting prices that could rise above $2,800 per ounce.
On December 6, Techcombank and VPBank adjusted their savings interest rates, with Techcombank offering up to 5.1%/year for high-end customers on longer terms, while VPBank's highest rate reached 5.7%/year for large deposits over 24 months. Both banks have implemented increases of approximately 0.2 percentage points to attract depositors amid rising capital needs and exchange rate pressures.
UBS Group AG has announced that it is no longer a substantial shareholder in Paladin Energy Ltd as of December 4, 2024. This development may impact investor perceptions of Paladin’s stock value, potentially presenting new opportunities or challenges in the financial markets.
Canada's farmers harvested 34.96 million tons of wheat in 2024, exceeding expectations and last year's yield. However, the rapeseed harvest fell to 17.85 million tons, 7% lower than 2023, while soybean production rose by 8.4% to 7.57 million tons. Barley production dropped significantly by 11.4%, contrasting with a 27% increase in oat production.
Jérôme Mäser, Senior Equity Analyst at VP Bank, emphasizes the critical need for diversifying refinery capacities in light of artificial intelligence's influence on commodity demand. His insights are featured in the latest edition of VP Bank's investment magazine, "Teleskop," which highlights the essential role of commodities in progress.
All three major US stock indices reached record highs, with the Dow Jones surpassing 45,000, buoyed by positive remarks from Fed Chair Powell on economic resilience and inflation progress. Meanwhile, the ASX 200 also hit a new peak, though momentum waned after Australia's Q3 GDP growth slowed to 0.8%, the weakest since the 1990s recession. Key economic indicators are set for release next week, including the RBA's interest rate decision and US CPI data.
Billionaires' wealth surged 121% over the past decade, reaching $14 trillion, with tech billionaires seeing the fastest growth. In 2024, 268 new billionaires emerged, primarily self-made, while North American billionaires' wealth rose significantly, contrasting with declines in China. UBS forecasts an uncertain future for billionaires amid geopolitical tensions and evolving industries like generative AI and renewables.
Raiffeisenbank's "Elba" app faced significant outages due to technical issues affecting various IT services, prompting user complaints. Experts are working to restore full functionality, and the bank has apologized for the inconvenience. In a related incident, Erste Bank experienced a similar outage in late November, impacting online banking and card services, which was resolved within three hours, with no evidence of a cyber attack.
Raiffeisen Bank shares reached a new 6-month high of EUR 19.00 on December 5, 2024, marking a 7.70% increase since November 29. The stock is currently trading 4.61% above the 20-day moving average, indicating a positive trend across all time horizons.
Market Updates
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SGKB Sees Growth in Corporate Clients Amid Changing Interest Rate Landscape
09:04 06.12.2024
UBS Predicts Gold Surge in 2025 Amid Dollar Strength and Geopolitical Risks
08:56 06.12.2024
Vietnam Banks Adjust Savings Interest Rates to Attract Depositors
08:00 06.12.2024
UBS Group AG Reduces Stake in Paladin Energy Ltd Stock
07:47 06.12.2024
Canada's Wheat Harvest Rises While Canola Production Declines Sharply
07:12 06.12.2024
AI's Influence on Commodity Demand and Refinery Capacity Diversification
06:23 06.12.2024
US Indices and ASX 200 Surge Amid Economic Developments and Data
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05:44 06.12.2024
Billionaires Wealth Surges to 14 Trillion Driven by Tech and Industry Growth
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CHN
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02:57 06.12.2024
Raiffeisenbank Faces Outages as Technical Issues Disrupt IT Services
01:00 06.12.2024
Raiffeisen Bank Shares Hit New Six Month High Amid Upward Trend
00:00 06.12.2024
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