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UBS has lowered its price target for Freeport-McMoRan to $45 from $52 while maintaining a Buy rating. The company focuses on copper and gold mining, with net sales primarily from copper (74%), followed by gold (16.8%) and molybdenum (6.8%). Geographically, sales are led by the United States (30.7%) and Japan (23.3%).
BNP Paribas Exane has lowered its price target for Freeport-McMoRan to $47 from $50 while maintaining an outperform rating. The company focuses on copper and gold mining, with net sales primarily from copper (74%), followed by gold (16.8%) and molybdenum (6.8%). Geographically, sales are led by the United States (30.7%) and Japan (23.3%).
Crédit Agricole S.A. will hold its ordinary and extraordinary general meeting on April 23, 2025. Meanwhile, economic indicators show stagnation in Indonesia, uncertainty in China regarding government rhetoric, and a forecast of slightly lower growth and inflation in France for 2025 and 2026.
Akulaku reported a 50% drop in profits to US$4.5 million in 2024, despite a 14% revenue increase to US$53 million, as expenses surged by 30%. The company’s consumer financing receivables soared nearly 42 times to US$130.7 million, supported by a US$100 million debt commitment from HSBC Singapore. General and administrative costs accounted for a significant portion of expenses, while provisions for impairment losses rose by 49%, indicating potential challenges with non-performing loans.
Island nations like Indonesia and the Philippines face logistical challenges that eVTOL aircraft could address, enhancing point-to-point travel for tourism, medical emergencies, and cargo. However, commercialization is slow due to certification hurdles and regulatory frameworks still being developed. While some countries are making progress, such as Singapore and Thailand, the overall readiness for flying cars in Southeast Asia remains limited.
China has warned nations against making trade deals with the US that undermine its interests, accusing Washington of tariff abuse amid escalating tensions. The Chinese Commerce Ministry stated it would respond resolutely to any agreements made at its expense, as the US pressures countries to limit trade with China. Meanwhile, Southeast Asian nations, heavily reliant on China, are navigating the fallout from the ongoing tariff war, with significant trade ties to both the US and China at stake.
A consortium led by LG has canceled its $7.8 billion investment in an EV battery supply chain project in Indonesia, citing unfavorable market conditions. This decision reflects a broader industry trend of cautious investment amid a global slowdown in electric vehicle demand. Despite this setback, Indonesia's status as a key nickel producer remains a strategic advantage for future battery manufacturing investments.
Travis Kalanick, former CEO of Uber and co-founder of CloudKitchens, expressed skepticism about the profitability of cloud kitchens in India, citing high operational costs and reliance on food delivery platforms that erode margins. Despite the market's projected growth, many operators are pivoting to hybrid models to enhance sustainability, as nearly 50% of cloud kitchens in major cities are unprofitable. Successful players are leveraging scale and technology to navigate these challenges, indicating that while the landscape is tough, viable business models may still emerge.
Eddy Soeparno, Deputy Speaker of Indonesia's MPR, visited Huawei's headquarters to seek collaboration in advancing Indonesia's technological ecosystem, particularly in artificial intelligence. He expressed confidence in Huawei's commitment to knowledge transfer and capacity building for Indonesian talent. Soeparno also discussed Indonesia-China economic relations amid the global tariff war.
MPR Deputy Chair Eddy Soeparno visited Huawei's headquarters in Shenzhen to discuss enhancing technology cooperation between Indonesia and China, particularly in AI. He emphasized the importance of talent development in Indonesia's tech sector and expressed hopes for Huawei's investment and knowledge transfer to benefit young Indonesian talents. The visit is part of a broader effort to strengthen bilateral relations in industry, technology, trade, and energy transition.
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ubs lowers freeport-mcmoran price target to 45 maintains buy rating
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16:59 23.04.2025
bnp paribas exane lowers freeport-mcmoran price target to 47 maintains outperform rating
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16:10 23.04.2025
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16:47 21.04.2025
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