Latest news with #Haefele
The Citizen
7 days ago
- The Citizen
Scammers targeting students remain concerning
Between July 28 and July 31, the Facebook page Potchefstroom First Responders reported that the police had received over 90 scam-related reports. Although this figure has dropped by about 30% from 2024 to 2025, these scams still occur frequently in crime hotspots, especially in the Bult area. Although the numbers remain concerning, the decrease in this type of crime can be attributed to the use of CCTV footage. Scammers are identified by authorities and therefore tend to avoid areas where they've previously been recognized. Christiaan Haefele, Operations Manager at Mooirivier Beskerming, says students are usually targeted through three main scam tactics: Faith-based scams: These involve scammers who offer rituals or blessings to students. They take students to stores to purchase certain items, usually phones or laptops, and then steal the possessions. Fake valuables scam: Scammers use fake valuable stones or diamonds and ask victims to either deliver or temporarily hold them. They then ask the student to lend them their phone, only to disappear with it. In some cases, scammers hand victims a bank card with a PIN and instruct them to withdraw money. Victims are asked to leave their phones behind, which the scammers then take and vanish. ATM and bank-related scams: Newer methods include scammers distracting a victim at an ATM or offering to 'help' and then swapping the bank card with a decoy. Others pose as bank employees over the phone, claiming to detect fraud. They then ask for banking details and use the information to withdraw money. Statistics from Mooirivier Protection show that black students make up the majority of the victims of these types of scams. In hotspots such as Die Bult, 100% of reported victims are students. 'Students are often targeted due to their age and may not be as cautious or aware of the scams happening in the area,' says Haefele. Mooirivier Beskerming has noticed that scammers often target individuals rather than groups. This makes it easier to distract a victim through conversation. They commonly use emotional language or create emergency scenarios to gain sympathy or attention. Scammers also rely on local knowledge about students' routines or locations to identify their targets. Haefele says victims typically suffer financial losses ranging from R2 000 to R10 000. Commonly stolen items include phones and laptops. However, the damage goes beyond finances. 'Many victims, especially students, feel humiliated. It leads to distrust of strangers, service providers, or even friends. Some even lose sleep, especially if the scam involved threats,' he adds. Scams can instill fear in victims, which may lead to depression and anxiety. Haefele advises victims to first report the incident to the police and open a criminal case. They will only investigate if the scam involves a financial loss, a traceable item, or a pattern of criminal behavior. If the scam involves bank fraud, victims should immediately report it to their bank and freeze any affected accounts or cards. Students can also approach NWU Protection Services if the crime occurred on or near campus. They can also access counseling if the scam caused trauma. Mooirivier Beskerming offers support resources for victims. All reported cases are investigated via their integrated CCTV network. Once a suspect is identified, information is handed over to SAPS. License plates and suspect descriptions are uploaded to their system, and if a flagged plate is spotted on CCTV, units are dispatched to the scene. Mooirivier Beskerming, together with the Buzzer app, is available for users to report suspicious activity or request assistance.
CNBC
13-05-2025
- Business
- CNBC
UBS Wealth downgrades U.S. stocks as others on the Street raise their forecasts
UBS Wealth on Tuesday moved to the sidelines on U.S. stocks, casting doubt on the recent rally even as others on Wall Street have grown more bullish. Mark Haefele, the firm's investment chief, downgraded U.S. equities to neutral from attractive, noting he's not bearish or telling clients to sell but rather "taking advantage" of the runup in stocks over the past month after investors had grown too pessimistic in early April after the U.S. announced its new tariff policy. Haefele's latest skepticism reverses an upgrade to U.S. stocks that he made on April 10, the day after President Trump placed a 90-day pause on many tariffs he had imposed the week before. The S & P 500 has climbed about 11% since the UBS upgrade, making the risk-reward more balanced, Haefele said. The buyside chief investment officer also tied his call to Monday's major leg up in stock prices following the announcement that China and the U.S. slashed reciprocal tariffs for three months. That helped ease short-term fears that Trump's plan for steep tariffs was spurring a trade war between the world;s two largest economies. "While the 90-day cooling-off period has provided a reprieve, uncertainty is still high, and investors will soon begin to focus on whether this temporary fix can evolve into a lasting agreement," Haefele wrote to clients. "The constructive tone from both sides suggests a willingness to negotiate further, but challenges in forging a durable deal could lead to bouts of volatility." Haefele recommended that clients keep a strategic allocation to U.S. stocks, expecting equities will rise over the next 12 months. The UBS shift on U.S. stocks puts it at odds with others on the Street who have recently become more upbeat. David Kostin, chief U.S. equity strategist at Goldman Sachs, raised his 2025 target for the S & P 500 back to 6,100 from 5,900 on Tuesday, citing lower tariff rates, an improved outlook for economic growth and reduced odds of a recession. Ed Yardeni, president of Yardeni Research, also lifted his S & P 500 target back up to 6,500 from 6,000, pointing to a shifting view around the impact of Trump's tariff policy.
Khaleej Times
23-03-2025
- Business
- Khaleej Times
UAE: Gold prices likely to touch $3,200 amid geopolitical tensions, Fed rate cuts
Gold prices remain well-supported and could reach $3,200 in the next few quarters after it crossed the $3,000 threshold earlier this month. Analysts project that geopolitical tensions, inflows into gold exchange-traded funds (ETFs), interest rate cuts by the US Federal Reserve and central bank buying will continue to support yellow metal in the medium term. The precious metal crossed the $3,000 per ounce mark for the first time ever on March 14, solidifying its position as a safe haven asset amidst global uncertainties. 'We retain our bullish stance on gold, and having met our previous target of $3,000 per ounce, we have revised our target to $3,200 per ounce by June and through March 2026,' said Mark Haefele, chief investment officer at UBS Global Wealth Management. The last time bullion crossed a 'thousand-dollar' threshold was when it broke through the $2,000 per ounce mark in August 2020 amid uncertainty surrounding the Covid-19 pandemic. 'With the $3,000 milestone reached, investors may be uncertain if gold's appeal can extend further. But we see several reasons why gold looks likely to remain well-supported. Geopolitical flashpoints remain fraught; markets have moved to price in a faster pace of rate cuts from the Fed, providing extra support for gold; and gold inflows into ETFs are materialising,' said Haefele. 'While the market has drifted into technically overbought territory, we think the prevailing mood among investors remains cautious, which is likely to support the appetite for gold. The precious metal remains a key portfolio hedge against near-term uncertainty, but also against episodic bouts of risk aversion further out,' he added. Gold closed the week at $3,022.95 per ounce, down 0.45 per cent. It hit $3,047.8 per ounce earlier last week. In the UAE, 24K closed at Dh364.5 per gram, 22K at Dh337.5, 21K at Dh323.5 and 18K at Dh277.25 over the weekend. Yellow metal slightly declined due to the strength of the US dollar, as the greenback's strong performance encourages some traders to take profits and reduce their bullish bets on the precious metal. However, according to Rania Gule, senior market analyst for Mena at this decline does not necessarily indicate a reversal in the overall trend, as fundamental factors support gold in the medium term. 'The Federal Reserve has signalled that it will cut interest rates only twice this year, which has strengthened the dollar and exerted some downward pressure on gold, especially as traders continue to reassess their economic outlook,' she added. 'There is still a belief that the Fed may be forced to accelerate the pace of monetary easing sooner than expected due to growing concerns about a slowdown in US economic growth caused by tariffs. Ongoing trade tensions, exemplified by President Donald Trump's threats to impose new tariffs, could slow economic activity, potentially pushing the Fed toward a more accommodative monetary policy. In this scenario, the dollar could lose momentum, supporting gold prices as a safe-haven asset in an unstable environment,' said Gule. Furthermore, heightened instability in Ukraine and the Middle East increases the appeal of the yellow metal as a hedge against risk. 'Given these factors, gold is expected to maintain its fundamental support despite short-term profit-taking. If the strength of the US dollar persists, gold may face resistance at current levels. However, any indication of the Fed shifting towards more monetary easing or escalating geopolitical tensions could restore bullish momentum for the precious metal. Therefore, gold remains in a balanced position between the downward pressure from a strong dollar and the continued support from economic uncertainty and rising geopolitical risks,' said analyst. She added that price corrections remain expected given the current market volatility. 'If the Fed begins cutting interest rates, gold is likely to rise toward the $3,100–$3,125 range, with the potential for further gains to $3,180–$3,200 if global economic concerns increase or we experience sharp geopolitical disruptions. Additionally, the ongoing gold purchases by central banks, particularly in China and Russia, could reinforce the bullish trend.' Gule noted that the psychological level of $3,000 will remain a critical support level, and any break below it could lead to further declines towards $2,978 and then $2,930.
