{
}
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Raiffeisen Switzerland forecasts a slight economic growth improvement for 2024 and 2025, with GDP expected to rise by 1.1% and 1.3%, respectively. However, uncertainties from U.S. trade policy and political instability in Germany and France may hinder Switzerland's economic potential. Interest rates are anticipated to decline further, with a possible drop to 0.75%, while the real estate market may see renewed interest from institutional investors despite not returning to pre-2020 boom levels.
The number of billionaires in mainland China dropped to 427 in 2024, down from 520, as 132 individuals fell off the list despite 42 new additions. The total wealth of these billionaires decreased by 20% to approximately $1.4 trillion, reflecting the impact of market corrections in a slowing economy. Challenges such as a troubled property market and reduced consumer spending have contributed to this decline.
A UBS study reveals that the number of billionaires has surged by 50% over the past decade, reaching 2,682 individuals, with their collective wealth soaring by 121% to $14 trillion. This growth significantly outpaces the MSCI AC World index, which rose by 73%. While tech billionaires saw their wealth triple to $2.4 trillion, the report highlights a shift in investment focus, with 40% of the super-rich planning to invest more in real estate and safe assets like gold, driven by booming sectors such as AI and fintech.
The wealth of the world's billionaires has surged by over 120% in the past decade, significantly outpacing the 73% rise in global stock markets, largely due to the dominance of tech entrepreneurs. The number of billionaires increased from 1,757 in 2015 to 2,682 in 2024, with tech billionaires seeing their wealth triple to $2.4 trillion. Despite a recent underperformance in real estate, many billionaires plan to increase investments in this sector and precious metals as safe havens amid global uncertainties.
The luxury goods industry is experiencing a significant slowdown, largely due to weakened consumption in China. A UBS study reveals that the contribution of Chinese consumers to the sector's growth has dwindled, accounting for only 10% from 2019 to 2023, compared to 44% from 2008 to 2015.
The UBS ETF - MSCI World Socially Responsible ETF A experienced a decline, trading down 0.13% to EUR 0.22. It reached a daily low of EUR 165.82 after starting at EUR 165.90, with a total of 17,919 shares traded. On December 7, 2023, the fund hit a 52-week low of EUR 127.36.
In April 2024, the number of billionaires worldwide reached nearly 2,700, a 50% increase since March 2015, with their total wealth surpassing 13 trillion euros—over three times Germany's annual economic output. The wealth of billionaires rose by 121%, significantly outpacing the 73% growth of the MSCI AC World index. Notably, tech billionaires saw their fortunes triple, driven by advancements in generative AI, cybersecurity, fintech, 3D printing, and robotics.
Billionaires are facing uncertain times as their wealth growth stagnates, primarily due to economic challenges in China and rising interest rates. The number of billionaires has plateaued at 2,682, while their collective wealth has reached $14 trillion, outperforming global stock markets. As governments consider higher taxes, many billionaires are relocating to countries like Switzerland and the UAE, with a notable shift towards sectors such as generative AI and renewable energy.
UBS is optimistic about the Indian real estate sector, forecasting a 15% CAGR in residential pre-sales from FY24 to FY29, driven by high affordability, regulatory reforms, and demographic trends. The brokerage has set target prices of ₹2,175 for Prestige Estates and ₹1,005 for DLF, indicating significant upside potential, while assigning a 'Neutral' rating to Oberoi Realty with a target of ₹2,230. Despite potential near-term market softness, UBS encourages viewing dips as buying opportunities, highlighting a sustainable upcycle supported by strong fundamentals.
UBS reported that all four Credit Suisse Real Estate Funds achieved higher investment returns this year, ranging from 3.5% to 4.5%, compared to the previous year's modest performance. Distributions per unit are CHF 45.00 for CS 1a Immo PK, CHF 4.81 for CSREF Interswiss, CHF 3.50 for CSREF LogisticsPlus, and CHF 3.38 for CSREF Siat, with payout ratios around 100%. A merger of the Interswiss fund with UBS's Swiss Commercial Property Fund is under consideration for 2026/2027.
Market Updates
SubCategory
United States Dollar
Swiss Franc
Euro
Swiss National Bank
Raiffeisen-Osteuropa-Rent
CHN
CHE
FRA
DEU
USA
Fredy Hasenmaile
Show more
12:01 05.12.2024
12:00 05.12.2024
11:58 05.12.2024
United States Dollar
Euro
Amazon.com, Inc.
Tesla, Inc.
CHN
USA
Frederic Bianchi
Mark Zuckerberg
Bernard Arnault
Jeff Bezos
Elon Musk
Show more
11:35 05.12.2024
11:13 05.12.2024
10:59 05.12.2024
10:54 05.12.2024
10:50 05.12.2024
10:29 05.12.2024
10:28 05.12.2024
Trending
Subcategory:
Cryptocurrency Markets
Stock Market Updates
Cryptocurrency Trends
Central Bank Actions
Market Sentiment Analysis
Inflation Rates & CPI Data
Cryptocurrency & Blockchain Regulations
Decentralized Finance (DeFi) Innovations
Mergers & Acquisitions
Banking Regulations
Corporate Responsibility & ESG
Cryptocurrency Regulations
Hedge Funds & Private Equity
Market Analysis and Predictions
Anti-Money Laundering (AML) Regulations
Tokenomics and Crypto Economics
Banking & Investment Regulations
SEC & Financial Compliance
Bond Market & Treasury Yields
Employment Reports
Countries:
Companies:
Currencies:
People:
Coinbase Global, Inc.
Apple Inc.
Solana USD
NVIDIA Corporation
BlackRock, Inc.
MicroStrategy Inc
Ripples USD
JPMorgan Chase & Co.
Novartis AG
Ethereum USD
Tesla, Inc.
Kraken Energy Corp.
Tether USDt CNY
The Goldman Sachs Group, Inc.
Bank of America Corporation
Credit Suisse Real Estate Fund Siat
Bitwise Bitcoin ETF
Capital One Financial Corporation
Moderna, Inc.
Grayscale Bitcoin Trust ETF
United States Dollar
Euro
Swiss Franc
Chinese Yuan
British Pound Sterling
Indian Rupee
Japanese Yen
Australian Dollar
South Korean Won
Russian Ruble
Canadian Dollar
Hong Kong Dollar
Bahamian Dollar
Malaysian Ringgit
United Arab Emirates Dirham
Swedish Krona
Thai Baht
Danish Krone
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.