On Wednesday, UBS raised the price target for AkzoNobel from 89.00 to 97.00 euro with unchanged neutral advice. The analysts of the Swiss bank spoke of a smooth recovery in Performance Coatings. In addition, UBS adjusted the price target for AkzoNobel to reflect the price increases of American peers. For the first quarter of 2021, UBS expects AkzoNobel to have a turnover of 2.1 billion euros...
Orange will invest in fiber connections in Poland together with APG pension investor. The French telecom company announced it on Monday. The EUR 605 million joint venture will connect 1.7 million households in Poland to the fibre network over the next five years, in areas where high-speed internet is restricted or absent. In total, the joint company will have 2.4 million lines. According to the...
Taiwan Semiconductor Manufacturing Company increased its turnover in March, both on a yearly and monthly basis. This was announced by the Taiwanese semiconductor manufacturer on Friday. Sales increased by 21.2 percent compared to February to 129.1 billion Taiwanese dollars, or more than 3.8 billion euros. Compared to March 2020, revenue increased by 13.7 percent. This brought revenue over the...
The Central bank of Australia has again left monetary policy unchanged. This was demonstrated on Tuesday by the Reserve Bank of Australia’s latest interest rate decision. The bank indicated on Tuesday that the implementation of the vaccination programmes supports the recovery of the world economy, although the policy body described the pace of implementation as unbalanced. The RBA stated on...
Japan’s services sector declined again in March. This was shown on Monday by figures from Markit Economics. The Purchasing Managers Index for the services sector increased from 46.3 to 48.3 this time. The index has been at its highest level since January 2020. It was announced last week that Japanese industry was growing at a faster pace in March. This Purchasing Managers Index rose from 51...
Oil cartel OPEC and its partner countries, gathered in OPEC+, are going to increase their production in the coming months, but the pace is not so great. This is what energy economist Hans van Cleef of ABN AMRO said to ABM Financial News. “Although oil production will increase in the coming months, this is happening at a slower pace than initially thought”, says Van Cleef. In addition...
American president Joe Biden will present a comprehensive new economic support package for the United States on Wednesday. It is a package of investments of 2.25 trillion dollars, or 2250 billion dollars, over an eight-year period. The money goes, for example, to bridges, roads, railways, ports, airports and other infrastructure. Biden will explain his support plans for the world’s largest...
Credit card company Visa is going to allow the use of USD Coin to handle transactions on its payment network. With this, digital coins, of which bitcoin is the best-known, gain ground in further acceptance by regular financial institutions. Visa has started a trial with payment and Crypto.com and plans to offer the option to more partners later this year. The USD Coin (USDC) is a cryptocurrency...
The owner of the Ever Given, the stalled container ship that has been blocking the Suez Canal for days, is hopeful that the 220,000-tonne vessel can be pulled off Saturday night. That’s what Yukito Higaki, president of the Ship Lease company Shoei Kisen Kaisha said in a press conference for Japanese media. Higaki explained that soil is extracted from under the ship with the help of dredging...
The US Securities and Exchange Commission (SEC) is going to investigate the recent boom around empty shell companies to enter stock exchanges. These are stock exchange funds that have been set up specifically with the aim of buying a company, a so-called Special purpose Acquisition company, or ‘SPAC’. That’s what sources say to Reuters news agency. Among other things, the risks...