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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
IFC, DFC, and Raiffeisen Bank Ukraine have launched two risk-sharing facilities totaling approximately $210 million to support Ukrainian SMEs and midcaps, particularly in agriculture and clean energy. These initiatives aim to enhance access to critical financing, preserve jobs, and bolster energy security amid ongoing challenges from Russia"s invasion. This collaboration marks the first direct partnership between IFC and DFC in establishing such facilities in Ukraine.
The UBS ETF - MSCI World Socially Responsible ETF A recently increased by 0.54%, reaching EUR 160.04 after starting at EUR 159.70 during the STU session. A total of 36,154 shares have been traded, with the ETF hitting a 52-week high of EUR 162.62 on November 14, 2024.
Starting November 2024, the Fertilization 2024/2025 symposia will address key agricultural topics, featuring experts like Prof. Holger B. Deising on biological plant protection, Michel Deere discussing the agricultural situation, and Wiebeke Mohr on market challenges. Participants are encouraged to register and bring colleagues.
In October, new rents in Switzerland experienced a monthly decline of 0.3%, while showing a robust annual increase of 3.2%. Notable monthly decreases were observed in Zug (-2.2%), Glarus (-1.3%), and Geneva (-1.0%), whereas Schwyz led with an annual rise of 11.0%. Most cantons reported yearly growth, with Neuchâtel being the only exception.
Rents for new or re-rented apartments in Switzerland saw a monthly decline of 0.3% in October, while maintaining a strong annual increase of 3.2%. Notable monthly decreases were observed in Zug (-2.2%), Glarus (-1.3%), and Geneva (-1.0%), whereas Schwyz (+11.0%) and Zug (+7.4%) led in annual growth.
In October, rents for new or re-rented apartments in Switzerland decreased by 0.3% compared to September, while year-on-year growth remains strong at 3.2%. Zug, Glarus, and Geneva experienced the largest monthly declines, whereas Schwyz, Zug, and Basel-Stadt saw the most significant annual increases. Notably, cities like Lucerne and Basel reported substantial yearly rent hikes of 7.2% and 6.2%, respectively.
UBS maintains a "Neutral" rating on Apple with a price target of $236, reflecting recent data on iPhone 16 availability. Meanwhile, JPMorgan upgraded Apple to "Overweight" with a target of $265, as the company navigates various market challenges and opportunities. In related news, an Apple insider sold over $45 million in shares, and the company is facing a $3.80 billion antitrust lawsuit regarding iCloud storage.
EFG International reported robust net inflows of 7.4 billion francs ($8.4 billion) in the first ten months of 2024, achieving an annualized growth rate of 6.3%, surpassing its target. All regions, particularly Asia Pacific and Latin America, experienced double-digit growth, contributing to a total of approximately 159 billion francs in assets under management. Despite a decline in net profit to 260 million francs from 303.2 million francs in 2023, the bank"s CEO highlighted strong client trust and the impact of strategic hires made in 2023.
The Swiss stock exchange opened higher, with the SMI Index rising 0.68% to 11,619.79 points. Investors are reacting to mixed signals from Wall Street and Asian markets, while awaiting Nvidia's earnings report, which could influence global markets. Notable stock movements include Holcim up 2.46% and Lonza up 1.56%.
EFG International is exploring potential acquisitions as it aims to surpass last year's record profit, having already achieved over 260 million Swiss francs in net profit in the first ten months of 2024. CEO Giorgio Pradelli noted strong cash inflows and a rise in assets under management to 159 billion francs, driven by increased client activity amid market volatility. The bank is collaborating with investment banks to identify targets, focusing on areas where it can achieve cost savings and ensuring a cultural fit.
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