Latest news with #235
Yahoo
3 days ago
- Business
- Yahoo
HSBC Upgrades Dr. Reddy's Laboratories Limited (RDY) to Buy from Hold
On June 5, HSBC upgraded Dr. Reddy's Laboratories Limited (NYSE:RDY) from Buy to Hold, raising the price target to INR1,445 from INR1,235, citing an optimistic outlook for the company in terms of earnings potential and solid market standing. A worker at a biopharmaceutical facility packaging an active pharmaceutical ingredient. HSBC's updated estimates for FY2026 to FY2028 take into account the shifting market tide for semaglutide and gRevlimid. The analysts are waiting for semaglutide to be introduced in Canada, Brazil, and India at the beginning of FY2027, which is a greater leap from their prior hypothesis of a launch only in Canada by Q4 of FY2026. The analysts revised their FY2026 sales figures for Dr. Reddy's Laboratories Limited (NYSE:RDY)'s gRevlimid, noting the growing competition. The adjustment includes a 5.1% decrease in the EPS estimate for FY2026, while the EPS forecast for FY2027 and FY2028 grew by 12% to 13%. According to HSBC analysts, the expected surge in semaglutide sales will strengthen Dr. Reddy's earnings. HSBC assigned a new price target for RDY's American Depositary Receipts (ADR) as well, raising it from $14.44 to $16.90. Dr. Reddy's Laboratories Limited (NYSE:RDY) is a global pharma company based in Hyderabad, India, that makes both branded and generic medicines for a wide range of health conditions. The company operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. While we acknowledge the potential of RDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
4 days ago
- Business
- TimesLIVE
GNU ministers spent R200m of taxpayers' money on travelling since taking office
Ministers in the government of national unity (GNU) have spent more than R200m on travel expenses since July last year. This was revealed by ActionSA through its GNU performance tracker after receiving replies to parliamentary questions sent to ministers. This week, the party said Deputy President Paul Mashatile and his staff splurged more than R2m on travel expenses for transport and accommodation since last year. In a written reply, Mashatile said he has been on four international trips - to Ireland, Botswana, Zimbabwe and, recently, Japan. A total of R613,214 was spent on flights, R1,235,569 on accommodation and R410,926 for ground transport for all trips. Other costs included laundry services at R8,033 and R51,393 for restaurant services. ActionSA MP Alan Beesley criticised the spending, calling it 'executive indulgence' and 'wasteful expenditure'. 'This sort of wasteful expenditure, an extension of ANC excess now rebranded under the GNU, has become business as usual for the world's most bloated executive,' Beesley said. 'South Africans deserve leadership that puts people before perks and not a R200m travel spree by the world's largest cabinet.' The sport, arts and culture department's travel expenses have also raised concern. Minister Gayton McKenzie said he and his staff undertook 11 international trips costing more than R2m. R164,556 was paid for a trip to Burkina Faso that never took place. 'Not only is this spending exorbitant, but it is riddled with red flags, gaps and inconsistencies. The public paid for flights and accommodation for an event that was abandoned, a textbook case of wasteful expenditure, as defined by the Public Finance Management Act. 'Unless the minister can demonstrate that this loss was unavoidable and efforts were made to recover the funds, this reflects a serious failure of financial oversight and internal control.' ActionSA has introduced the Enhanced Cut Cabinet Perks Bill to address unchecked government spending. 'This bill seeks to slash ministerial perks and restore much-needed fiscal discipline.'
Yahoo
5 days ago
- Business
- Yahoo
HSBC Upgrades Dr. Reddy's Laboratories Limited (RDY) to Buy from Hold
On June 5, HSBC upgraded Dr. Reddy's Laboratories Limited (NYSE:RDY) from Buy to Hold, raising the price target to INR1,445 from INR1,235, citing an optimistic outlook for the company in terms of earnings potential and solid market standing. A worker at a biopharmaceutical facility packaging an active pharmaceutical ingredient. HSBC's updated estimates for FY2026 to FY2028 take into account the shifting market tide for semaglutide and gRevlimid. The analysts are waiting for semaglutide to be introduced in Canada, Brazil, and India at the beginning of FY2027, which is a greater leap from their prior hypothesis of a launch only in Canada by Q4 of FY2026. The analysts revised their FY2026 sales figures for Dr. Reddy's Laboratories Limited (NYSE:RDY)'s gRevlimid, noting the growing competition. The adjustment includes a 5.1% decrease in the EPS estimate for FY2026, while the EPS forecast for FY2027 and FY2028 grew by 12% to 13%. According to HSBC analysts, the expected surge in semaglutide sales will strengthen Dr. Reddy's earnings. HSBC assigned a new price target for RDY's American Depositary Receipts (ADR) as well, raising it from $14.44 to $16.90. Dr. Reddy's Laboratories Limited (NYSE:RDY) is a global pharma company based in Hyderabad, India, that makes both branded and generic medicines for a wide range of health conditions. The company operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. While we acknowledge the potential of RDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
02-04-2025
- Business
- Khaleej Times
Dubai's most expensive branded residences reach record prices, set new market standards
Branded residences in Dubai command a 42 per cent premium on average over non-branded properties as institutional investors are also snapping up these luxury properties as well. 'Dubai's real estate market is undergoing a fundamental shift. Branded residences are no longer a niche segment — they have become a core asset class, attracting institutional investors and setting new price benchmarks,' said Elias Hannoush, CEO of Morgan's International Realty. The luxury real estate brokerage and property investment firm's data showed that branded residence prices averaged Dh3,288 per sqft compared to Dh2,321 per sqft for the non-branded units in Dubai at the end of 2024. At the top of the market is Bvlgari, located on Jumeirah Bay Island, with the highest price per sqft at Dh10,668. Other luxury developments follow closely behind, including Atlantis Resorts (Dh9,387), Dorchester Collection (Dh7,539), Baccarat (Dh7,211), and Four Seasons Hotels and Resorts (Dh6,829). Armani (Dh5,736), One & Only Resorts (Dh5,155), Six Senses Hotels & Resorts (Dh4,879), Bugatti (Dh4,682) and The Ritz-Carlton Hotel (Dh4,342) rounded off the top 10 properties. Hannoush pointed out that Dubai has outpaced traditional luxury real estate markets in terms of price appreciation, investor interest, and the volume of projects. According to Savills, Dubai retains its place as the most active market internationally for branded residences and it is followed by hotspots in Miami, New York, Phuket and London. Sales of branded units in Dubai surged 48 per cent in the second half of 2024, reaching 7,628 compared to 5,153 in the same period in 2023. Dubai currently boasts 132 branded residences with 43,085 units, including one that sold for a record Dh275 million. The highest price for the branded residence reached Dh17,235 per sqft. Additionally, Dubai has 1,282 ready-branded units valued at Dh6.88 billion, with 6,346 more currently under construction, worth Dh24.9 billion. 'Pro-investor policies, world-class infrastructure, and a thriving luxury real estate market have fuelled Dubai's growth into the global hub for branded residences. "A tax-free economy, long-term residency incentives, and rising demand from international investors have driven rapid expansion, surpassing traditional luxury hubs and solidifying Dubai's position as the premier destination for branded residences,' he added. Hannoush noted that branded residences create a winning formula for all stakeholders. For developers, they offer higher prices, faster sell-outs, access to elite buyers, and enhanced credibility with global appeal. For buyers, they provide superior design, exceptional service and management, stronger capital appreciation, better rental returns, and an exclusive lifestyle with hassle-free ownership. For brands, these properties bring new revenue opportunities and market expansion.
Jordan Times
25-02-2025
- Business
- Jordan Times
National economy shows positive indicators since beginning of 2025 — Experts
Experts say that despite many challenges, which affected various aspects of life, especially tourism, investment and finance, the national economy achieved many positive indicators in 2025 (JT file) AMMAN — Economists have stressed that the national economy is based on its stability and flexibility, including the geographical location of the Kingdom, prudent monetary policy, economic relations with many major world markets, and the presence of qualified and young human wealth. They pointed out that despite many challenges, which affected various aspects of life, especially tourism, investment and finance, the national economy achieved many positive indicators, the Jordan News Agency, Petra, reported. The Central Bank of Jordan's (CBJ) foreign reserves exceeded $21 billion, while the dollarisation rate dropped to 18.4 per cent by the end of last year, and the inflation rate decreased to 1.6 per cent and is expected to stabilise at around 2 per cent this year. The real estate market recorded an increase in trading volume by 9 per cent during January, compared with the same month last year, where the total trading volume reached around JD545 million. The GDP in the first quarter of the current century increased by five folds, recording in 1999 a value of JD7.12 billion, while in 2023 it reached about JD36 billion at current prices. GDP per capita rose from JD1,235 in 2000 to JD3,133 in 2023, and the Kingdom's foreign currency balance reached a record of some $21 billion, compared with $4.7 billion in 2000. Social Security Investment Fund CEO Ezzeddin Kanakrieh said that the recently announced annual results of the fund, which show a growth in comprehensive income last year to nearly JD1 billion, and the increase in the fund's assets to JD16 billion at the end of 2024, which is equivalent to about 40 per cent of GDP, highlight that the national economy, despite the multiple challenges and unstable conditions in the region, has achieved positive economic returns and indicators. Former minister of finance Mohammad Abu Hamourpointed out that the Kingdom's economy maintained low inflation rates of less than 2 per cent during the past year, despite the wave of unbridled inflation witnessed by many countries in the region. He attributed this stability to CBJ's measures to keep pace with regional and global developments related to the interest rate, in addition to the prudent policies of the CBJ, which maintained price stability and the stability of the dinar exchange rate. President of the Society of East Amman Industrial InvestorsEyad Abu Haltam said that there are strengths in the national economy, the most important of which are political stability and the high credit rating. He explained that Jordan's monetary policy has been prudent since the 1990s, which has maintained the stability of the dinar exchange rate. Associate Professor of Economics at Mutah UniversityAhmad Majali considered that "the role of the economic policies adopted by the government in enhancing the ability to adapt cannot be denied. Over the past years, the state has pursued a strategy that combines controlling the fiscal deficit and rationalising spending." Economist Hussam Ayesh stressed that financial and monetary stability of the Kingdom is an "exceptional case" in the region for a small economy like Jordan, especially if it is compared with regional countries.
