17/02/2025
˻ ͒͘ ˜ ͓͓͖͑
18
BIZ & FINANCE
Ì¿j ¿¹Ę TO8 ç É¿ÐЩ´ j´Ð بjØ å©´´ ÐÉ´©Ø (ºØ´
9ÐØ´ Ðj´Ð jØ ¿ÌjÐØ jØÌ ÉÌ© ¨©²Ð ZURICH: 4XJTT GPPE HJBOU /FTUMF SFQPSUFE CFUUFS UIBO FYQFDUFE BOOVBM TBMFT CPPTUJOH JUT TIBSFT BGUFS UIF NBLFS PG /FTDBGF DPGGFF BOE ,JU,BU DIPDPMBUF IJLFE QSJDFT UP PGGTFU JOGMBUJPO 4IBSFT JO UIF HSPVQ XIPTF NZSJBE QSPEVDUT BMTP JODMVEF .BHHJ CPVJMMPO DVCFT (FSCFS CBCZ GPPE BOE /FTRVJL DIPDPMBUF GMBWPVSFE ESJOL TPBSFE JO ;VSJDI BGUFS JUT QVCMJTIFE JUT SFTVMUT i*O B DIBMMFOHJOH NBDSPFDPOPNJD DPOUFYU BOE TPGU DPOTVNFS FOWJSPONFOU XF BDIJFWFE B TPMJE QFSGPSNBODF JO JO MJOF XJUI PVS MBUFTU HVJEBODF w $&0 -BVSFOU 'SFJYF TBJE JO B TUBUFNFOU 'SFJYF UPPL PWFS JO 4FQUFNCFS JO B TVSQSJTF DIBOHF BU UIF UPQ PG UIF 4XJTT HSPVQ XIJDI IBE GBDFE GMBHHJOH TBMFT BOE TDBOEBMT TVSSPVOEJOH JUT CPUUMFE XBUFST " DPNQBOZ WFUFSBO XIP IFBEFE UIF -BUJO "NFSJDB EJWJTJPO CFGPSF IJT QSPNPUJPO 'SFJYF IBT NBEF JU B QSJPSJUZ UP CPPTU HSPXUI BU B DPNQBOZ XIPTF QSPEVDUT SBOHF GSPN GSP[FO GPPET UP TXFFUT UP IFBMUI DBSF OVUSJUJPO $POTVNFST UVSOFE UP DIFBQFS QSPEVDUT BT /FTUMF SBJTFE QSJDFT UP DPQF XJUI JOGMBUJPO 5IF HSPVQ IBT BMTP GBDFE TDBOEBMT JO 4XJU[FSMBOE BOE 'SBODF PWFS UIF VTF PG CBOOFE GJMUFSJOH TZTUFNT GPS JUT NJOFSBM XBUFST BOE UIF EFBUIT PG UXP DIJMESFO XIP IBE DPOTVNFE #VJUPOJ QJ[[BT TVTQFDUFE PG CFJOH DPOUBNJOBUFE XJUI & DPMJ /FTUMF TBJE JUT SFBM JOUFSOBM HSPXUI 3*( o B NFBTVSF PG TBMFT WPMVNF FYDMVEJOH UIF JNQBDU PG QSJDF IJLFT BOE BDRVJTJUJPOT PS EJWFTUJUVSFT o SFBDIFE JO BGUFS QJDLJOH VQ TUFBN BU JO UIF TFDPOE IBMG PG UIF ZFBS *U IBE GBMMFO JO i"MUIPVHI UIF FOWJSPONFOU SFNBJOT WFSZ DIBMMFOHJOH XF CFMJFWF UIBU UIF ': GJTDBM ZFBS SFTVMUT NBSL B OFX CFHJOOJOHw +FBO 1IJMJQQF #FSUTDIZ BOBMZTU BU JOWFTUNFOU GJSN 7POUPCFM TBJE JO B OPUF /FTUMF TBJE TBMFT SFWFOVF GFMM UP CJMMJPO 4XJTT GSBODT 3. CJMMJPO o IJHIFS UIBO UIF CJMMJPO GSBODT GPSFDBTU CZ BOBMZTUT TVSWFZFE CZ 4XJTT GJOBODJBM OFXT BHFODZ "81 *UT QSPGJU BGUFS UBY XBT EPXO UP CJMMJPO GSBODT MPXFS UIBO UIF CJMMJPO GSBODT FTUJNBUFE CZ BOBMZTUT /FTUMF TBJE PSHBOJD HSPXUI o B DMPTFMZ XBUDIFE TBMFT NFUSJD UIBU FYDMVEFT DVSSFODZ GMVDUVBUJPOT BOE BDRVJTJUJPOT o SFBDIFE CFUUFS UIBO UIF GPSFDBTU CZ UIF HSPVQ -BTU ZFBS 'SFJYF VOWFJMFE DPTU TBWJOH NFBTVSFT BO JODSFBTF JO BEWFSUJTJOH TQFOEJOH GPDVTFE PO QPQVMBS QSPEVDUT BOE B SFPSHBOJTBUJPO PG UIF XBUFS CVTJOFTT i5IF QMBOT UIBU XF MBJE PVU BU PVS DBQJUBM NBSLFU EBZ BSF NBUFSJMJTJOH i:PV XJMM TFF /FTUMF NPWJOH JO UIF SJHIU EJSFDUJPO w IF TBJE o "'1
JO SFDFOU NFFUJOHT XJUI PGGJDJBMT GSPN 54.$ XIP XFSF SFDFQUJWF DJUJOH B QFSTPO GBNJMJBS XJUI UIF NBUUFS *OUFM XBT BNPOH UIF MBSHFTU CFOFGJDJBSJFT PG UIF 64 QVTI UP POTIPSF DSJUJDBM DIJQ NBOVGBDUVSJOH MFE CZ GPSNFS QSFTJEFOU +PF #JEFO T BENJOJTUSBUJPO 5IF 64 $PNNFSDF %FQBSUNFOU TBJE JO /PWFNCFS JU XBT GJOBMJTJOH B 64 CJMMJPO HPWFSONFOU TVCTJEZ GPS *OUFM 5IF DPNQBOZ JT POF PG B GFX DIJQNBLFST UIBU EFTJHO BOE NBOVGBDUVSF TFNJDPOEVDUPST 54.$ CPBTUT B NBSLFU WBMVBUJPO BCPVU FJHIU UJNFT MBSHFS UIBO UIBU PG *OUFM 5IF 5BJXBOFTF DPNQBOZ T DVTUPNFST JODMVEF "* DIJQ MFBEFS /WJEJB BOE ".% XIJDI JT *OUFM T GJFSDF SJWBM JO 1$ BOE TFSWFS NBSLFUT 'PSNFS *OUFM $&0 1BU (FMTJOHFS XIP XBT PVTUFE MBTU ZFBS TFU TLZ IJHI FYQFDUBUJPOT GPS *OUFM T NBOVGBDUVSJOH BOE "* DBQBCJMJUJFT BNPOH NBKPS DMJFOUT CVU GFMM TIPSU MFBEJOH UP UIF DIJQNBLFS MPTJOH PS DBODFMJOH DPOUSBDUT 3FVUFST SFQPSUFE QSFWJPVTMZ *OUFM T TIBSFT MPTU BCPVU PG UIFJS WBMVF MBTU ZFBS BT JUT DBQJUBM JOUFOTJWF CJE UP CPMTUFS NBOVGBDUVSJOH m B TUSBUFHZ DIBNQJPOFE CZ (FMTJOHFS m TUSBJOFE UIF DPNQBOZ T DBTI GMPX BOE VMUJNBUFMZ MFE UP JU DVUUJOH BCPVU PG JUT XPSLGPSDF m 3FVUFST
Üß×Ú ËÎ×ÓØÓÝÞÜËÞÓÙØ ×Ëã ÙÚÚÙÝÏ ÐÙÜÏÓÑØ ÞËÕÏÙàÏÜ ÙÐ ÍÒÓÚ×ËÕÏÜ˪Ý ×ÏÜÓÍËØ ÚÖËØÞݘ ÝËãÝ ÝÙßÜÍÏ
4"/ '3"/$*4$0 *OUFM T SJWBMT 5BJXBO 4FNJDPOEVDUPS .BOVGBDUVSJOH $P BOE #SPBEDPN BSF FBDI FZFJOH QPUFOUJBM EFBMT UIBU XPVME CSFBL UIF 64 DIJQNBLJOH JDPO JO UXP UIF 8BMM 4USFFU +PVSOBM SFQPSUFE PO 4BUVSEBZ DJUJOH QFPQMF GBNJMJBS XJUI UIF NBUUFS #SPBEDPN IBT CFFO DMPTFMZ FYBNJOJOH *OUFM T DIJQ EFTJHO BOE NBSLFUJOH CVTJOFTT UIF +PVSOBM SFQPSUFE BEEJOH UIBU UIF DPNQBOZ IBE EJTDVTTFE B QPUFOUJBM CJE XJUI JUT BEWJTFST CVU XPVME MJLFMZ POMZ QSPDFFE JG JU GPVOE B QBSUOFS GPS *OUFM T NBOVGBDUVSJOH CVTJOFTT 54.$ UIF XPSME T CJHHFTU DPOUSBDU DIJQNBLFS IBT TFQBSBUFMZ TUVEJFE DPOUSPMMJOH TPNF PS BMM PG *OUFM T DIJQ QMBOUT QPUFOUJBMMZ BT QBSU PG BO JOWFTUPS DPOTPSUJVN PS PUIFS TUSVDUVSF UIF SFQPSU TBJE #SPBEDPN BOE 54.$ BSF OPU XPSLJOH UPHFUIFS BOE BMM PG UIF UBMLT TP GBS BSF QSFMJNJOBSZ BOE MBSHFMZ JOGPSNBM UIF +PVSOBM BEEFE *OUFM T JOUFSJN FYFDVUJWF DIBJSNBO 'SBOL :FBSZ IBT CFFO MFBEJOH UIF EJTDVTTJPOT XJUI 5IF KPC DVUT XJMM CFHJO JO BOE NPTUMZ DPNQMFUFE CZ UIF FOE PG $IFWSPO TBJE JO B TUBUFNFOU UP "'1 5IF NPWFT BSF JO MJOF XJUI B QSFWJPVT DPNQBOZ QMFEHF UP SFNPWF 64 UP 64 CJMMJPO JO iUBSHFUFE TUSVDUVSBM DPTUTw CZ UIF FOE PG OFYU ZFBS 5IF NPWF JT FYQFDUFE UP SFEVDF IFBEDPVOU CZ UIPVTBOET $IFWSPO FNQMPZFE BU UIF FOE PG OPU DPVOUJOH TFSWJDF TUBUJPO FNQMPZFFT i$IFWSPO JT UBLJOH BDUJPO UP TJNQMJGZ PVS PSHBOJTBUJPOBM TUSVDUVSF FYFDVUF GBTUFS BOE NPSF FGGFDUJWFMZ BOE QPTJUJPO UIF DPNQBOZ GPS TUSPOHFS MPOH UFSN DPNQFUJUJWFOFTT w TBJE B TUBUFNFOU GSPN $IFWSPO WJDF DIBJSNBO .BSL /FMTPO i8F EP OPU UBLF UIFTF BDUJPOT MJHIUMZ BOE XJMM TVQQPSU PVS FNQMPZFFT UISPVHI UIF USBOTJUJPO i#VU SFTQPOTJCMF MFBEFSTIJQ SFRVJSFT UBLJOH UIFTF TUFQT UP JNQSPWF UIF MPOH UFSN DPNQFUJUJWFOFTT PG PVS DPNQBOZ GPS PVS QFPQMF PVS TIBSFIPMEFST BOE PVS DPNNVOJUJFT w 5IF BOOPVODFNFOU DPNFT BGUFS $IFWSPO MBTU NPOUI SFQPSUFE BOOVBM QSPGJUT PG 64 CJMMJPO EPXO GSPN
QPTTJCMF TVJUPST BOE %POBME 5SVNQ BENJOJTUSBUJPO PGGJDJBMT XIP BSF DPODFSOFE BCPVU UIF GBUF PG B DPNQBOZ TFFO BT DSJUJDBM UP OBUJPOBM TFDVSJUZ UIF SFQPSU TBJE :FBSZ IBT CFFO UFMMJOH JOEJWJEVBMT DMPTF UP IJN UIBU IF JT NPTU GPDVTFE PO NBYJNJTJOH WBMVF GPS *OUFM TIBSFIPMEFST UIF SFQPSU BEEFE *OUFM #SPBEDPN 54.$ BOE UIF 8IJUF )PVTF EJE OPU JNNFEJBUFMZ SFTQPOE UP 3FVUFST SFRVFTUT GPS DPNNFOU " 8IJUF )PVTF PGGJDJBM UPME 3FVUFST PO 'SJEBZ UIBU 5SVNQ T BENJOJTUSBUJPO NJHIU OPU TVQQPSU *OUFM T 64 DIJQ GBDUPSJFT CFJOH PQFSBUFE CZ B GPSFJHO FOUJUZ BGUFS #MPPNCFSH SFQPSUFE UIBU 54.$ XBT DPOTJEFSJOH UBLJOH B DPOUSPMMJOH TUBLF JO *OUFM T GBDUPSJFT BU 5SVNQ T SFRVFTU 5IF 8IJUF )PVTF PGGJDJBM TBJE UIF 5SVNQ BENJOJTUSBUJPO TVQQPSUFE GPSFJHO DPNQBOJFT JOWFTUJOH BOE CVJMEJOH JO UIF 64 CVU XBT iVOMJLFMZu UP TVQQPSU B GPSFJHO GJSN PQFSBUJOH *OUFM T GBDUPSJFT #MPPNCFSH SFQPSUFE UIBU 5SVNQ T UFBN SBJTFE UIF JEFB PG B EFBM CFUXFFO UIF UXP GJSNT
¨äÌ¿º Ø¿ ÛØ ŖŚơīŗŕơ ¿ å¿Ì²¿Ì ç º ¿ ŗŕŗś NEW YORK: $IFWSPO XJMM DVU UP PG JUT XPSLGPSDF BT QBSU PG B SFPSHBOJTBUJPO UP TBWF NPOFZ BOE UP QPTJUJPO UIF PJM HJBOU GPS UIF MPOH UFSN UIF DPNQBOZ TBJE
A customer pumping gasoline into a BMW at a Chevron gas station in Santa Monica, California. – AFPPIC 5IF DPNQBOZ SFUVSOFE B SFDPSE 64 CJMMJPO MBTU ZFBS UP TIBSFIPMEFST JO TIBSF SFQVSDIBTFT BOE EJWJEFOET o "'1 jºj j Ø¿ ¿¹É´ ©äÌЩØç ©Ð´¿ÐÛÌÐ ¿Ì jº²ÐĘ ©ºÐÛÌjº ©Ì¹Ð
QSPWJEFST BJSMJOFT BOE SBJMXBZT "DDPSEJOH UP HPWFSONFOU EBUB PG DPSQPSBUF CPBSET JO $BOBEB IBE BU MFBTU POF XPNBO NFNCFS XIJMF IBE B NFNCFS PG B WJTJCMF NJOPSJUZ JO 8PNFO BMTP IFME PG BMM TFOJPS NBOBHFNFOU QPTJUJPOT BOE WJTJCMF NJOPSJUJFT IFME o "'1
UISJWJOH BOE TVDDFTTGVM GJOBODJBM TFDUPS UIBU SFGMFDUT $BOBEJBO WBMVFT BOE BDIJFWFT JUT QPUFOUJBM w UIF HPWFSONFOU TBJE JO UIF $BOBEB (B[FUUF 5IF OFX SVMFT XIJDI XJMM BGGFDU GJOBODJBM JOTUJUVUJPOT BSF TJNJMBS UP UIPTF BMSFBEZ JNQMFNFOUFE GPS PUIFS GFEFSBMMZ SFHVMBUFE DPNQBOJFT TVDI BT UFMFDPNNVOJDBUJPOT
%&* QSPHSBNNFT o BJNFE BU DPNCBUUJOH SBDJTN TFYJTN BOE PUIFS EJTDSJNJOBUJPO JO UIF XPSLQMBDF o JO UIF 6OJUFE 4UBUFT QVTIFE CZ 1SFTJEFOU %POBME 5SVNQ 5IF $BOBEJBO SFHVMBUJPOT BJN UP QSPNPUF IJSJOH PG XPNFO WJTJCMF NJOPSJUJFT JOEJHFOPVT QFPQMF BOE UIF EJTBCMFE JO TFOJPS SBOLT i%JWFSTJUZ JT GVOEBNFOUBM UP DSFBUJOH B
OTTAWA: $BOBEB TBJE JU XPVME DPNQFM CBOLT JOTVSBODF DPNQBOJFT BOE PUIFS GJOBODJBM GJSNT UP EJTDMPTF UIF OVNCFS PG XPNFO BOE NJOPSJUJFT PO UIFJS CPBSET BOE JO TFOJPS NBOBHFNFOU QPTJUJPOT 5IF NPWF BOOPVODFE JO UIF HPWFSONFOU OFXTQBQFS $BOBEB (B[FUUF DPOUSBTUT XJUI B SFUSFBU GSPN EJWFSTJUZ FRVJUZ BOE JODMVTJPO
Made with FlippingBook - Online Brochure Maker