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A recent interest rate cut by the Swiss National Bank has positioned Zurich to potentially surpass Hong Kong as the world's most expensive city for real estate. With the key interest rate halved to 0.5 percent, home prices in Zurich are expected to rise by 3.5 percent in 2025, further increasing the financial burden on young families seeking home ownership. As prices in Zurich outpace those in major cities like New York, Paris, and London, the real estate market is poised for continued growth despite concerns over affordability.
Wealth managers in Hong Kong are ramping up hiring to accommodate a surge in mainland Chinese clients seeking offshore investments and residency options. With private wealth net inflows nearly tripling to HK$341 billion in 2023, banks like UBS and Julius Baer are expanding their teams and services to cater to this growing demand. Amid geopolitical concerns and economic challenges in China, affluent individuals are increasingly looking to diversify their assets and secure better opportunities abroad.
Markets opened the week on a subdued note, with the Sensex falling 385 points and the Nifty dipping below 24,700. While realty and pharma sectors showed gains, declines in IT, metal, and energy sectors weighed down the indices. The Nifty faces resistance around 24,800, but a positive bias is recommended for traders, focusing on quality stocks from outperforming sectors.
On December 16, 2024, UBS Optimus Foundation celebrates its 25th anniversary with insights from Tom Hall and Fabio Segura, emphasizing collaboration in philanthropy and the role of education in fostering social equality and transformational change. Recent episodes of "The Bulletin with UBS" cover various topics, including economic barriers for women, the implications of Trump’s election on the US economy, and the latest trends in global real estate markets.
On December 16, 2024, UBS Optimus Foundation celebrates its 25th anniversary, featuring insights from Tom Hall and Fabio Segura on the role of collaboration in philanthropy, particularly in education as a means to foster social equality and transformative change.Recent episodes of "The Bulletin with UBS" cover various topics, including the impact of Donald Trump's potential return on the US economy, the significance of investing in women, and the latest findings from the UBS Global Real Estate Bubble Index.
Ronin's DeFi total value locked (TVL) surged 149% year-over-year to $147 million in Q3 2024, driven by a 30% rise in the RON token price and increased ecosystem adoption. Despite a 36% drop in native token TVL, RON holders grew by 11,611%, reaching 527,000. Katana DEX dominates with 99% of the TVL, while daily transactions soared 2,300% compared to Q3 2023, despite a 20% decline in average transaction fees. However, the platform faced security challenges, including a $12 million loss from a smart contract flaw in August 2024.
Rexas Finance (RXS), priced at $0.15 in its presale, is gaining attention for its utility-driven approach, focusing on real-world asset tokenization, unlike meme coins Dogecoin (DOGE) and Shiba Inu (SHIB). With over $26 million raised and a projected listing price of $0.20, RXS aims to tap into vast markets, offering potential exponential returns for early investors. The project has also secured a CertiK audit, enhancing its credibility in the crypto space.
Raiffeisen Bank, a leading Romanian bank, offers enticing rewards for customers, including 200 lei for each friend who opens a current account and up to 300 lei for new customers with the Yellow Card, which supports charitable donations. The bank emphasizes digital convenience through its Smart Mobile application, allowing customers to manage finances effortlessly from home, including opening accounts and accessing various services. Additionally, frequent travelers can benefit from the Around the World insurance, available entirely online, ensuring peace of mind during their journeys.
Understanding your financial status—whether ultrarich, rich, or merely affluent—can significantly impact your banking experience. Each category comes with distinct expectations and services from financial institutions, influencing everything from loan terms to investment opportunities.
In 2024, the global billionaire population reached a record 2,682, with a 5.4% increase in numbers and a 16% rise in average wealth to $14 billion. The U.S. added 84 billionaires, while China saw a decline of 93 due to a real estate crisis, and Europe remained stable, with France achieving the highest average billionaire wealth.
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