ab 20 June 2025 Global Research US Enterprise Hardware and Networking Generating the latest updates on AI Trump administration to increase chipmaker tax credit from 25% to 30% The Trump administration raised the "tax credit to 30% of investments in plants, up from 25%". The tax credit was a part of the Chips Act, but unlike the $39B in grants and $75B in loans, the tax credit is not capped. The change gives chipmakers more incentive to either increase the size of their US projects or break ground on new fac ...

ab 20 June 2025 Global Research Global Oil and Gas Global Oil & Gas Valuation 20 June 2025 UBS Investment Research Global Oil & Gas Valuation Sheets This material has been prepared by UBS Europe SE Henri Patricot CFA, Analyst, +33-1-4888 3033, henri.patricot@ubs.com 20 June 2025 India Bharat Petroleum Hindustan Petroleum Indian Oil ONGC Reliance Industries Europe BP BW LPG Ceres Power ENI Fuchs Petrolub Galp Industrie De Nora ITM Power MOL Motor Oil North America Aemetis Antero Resources APA Corp Arc Resour ...

Global Research ab 20 June 2025 European Autos Chinese OEMs accelerating in Europe – time to be worried? Chinese brands comprise 6% market share now, even 11% in the EV segment Latest monthly data for the top-5 European markets show market share acceleration among Chinese brands, and we think further expansion in the coming months is likely on (1) even more price competition in the Chinese domestic market, ie, more profitable exports, (2) a potential replacement of EU EV import tariffs by minimum pricing, a ...

ab 16 June 2025 Powered by YES UBS Evidence Lab Global Research China Property China Housing Survey: Subdued sentiment but stabilisation in tier 1 cities Weakened price expectations, with divergence among cities UBS Evidence Lab's latest China Housing survey of 2,500 respondents across mainland China (28 March-21 April 2025; > Access Dataset) shows a subdued intention to buy property over the next two years compared with the previous survey in Sept 2024. However, we see divergence among cities, with stable ...

ab 17 June 2025 Global Research Global Economics & Strategy Global Economic and Market Outlook 2025-26 (select slides) Economics Global Arend Kapteyn Economist arend.kapteyn@ubs.com +44-20-7567 0531 This report has been prepared by UBS AG London Branch. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantitative Research Review published by UBS, begin on page 46. Tariff uncertainty is driving the outlook The Court of International Trade has halted 75% of Trump's tariffs (those ...

ab 17 June 2025 Global Research India Economic Perspectives India and gold: all that glitters Gold price rally to continue UBS's Basic Materials team forecasts the gold price to rise to US$3,500 in 2026. We believe the case for gold has become more compelling in an environment of escalating tariff uncertainty, weak growth, high inflation and lingering geopolitical risks. As most of India's gold supply is imported (87%), higher global gold prices (although we expect softer gold volume demand) imply that Indi ...

ab 18 June 2025 Global Research US Economic Perspectives June FOMC: The Fed's new outlook FOMC median policy assumption this year unchanged The FOMC left rates unchanged at their meeting this week but not their projections. In the June Summary of Economic Projections, the median assumption of appropriate policy (the median "dot") for 2025 was left unrevised at 3.9%, below our expectation for a 25 bp upward revision. However, 2026 revised up 25 bp to 3.6%, which was in line with our expectations, and up 25 b ...

ab Global Research 19 June 2025 Global Equity Strategy The dollar: why the bear market continues and UBS forecasts the dollar to continue to weaken to EUR/USD1.23-year end and YEN/ USD130 year-end. Of the major currencies, only the RMB and the Mexican Peso are forecast by UBS to depreciate beyond their forward rate against the dollar by year-end. Tactically, the dollar can continue to weaken despite DXY being close to a three- year low: UBS forecasts US GDP growth to slow from 1.7% YoY in Q2 to 0.9% Q4 YoY ...

ab 17 June 2025 Global Research China Equity Strategy A-share outlook H225: Five types of fund flows, five macro-scenario allocations Earnings may recover sequentially; trade/policy a swing factor for valuation Assuming US/China tariffs remain at their current levels, we expect CSI 300 A-share EPS to grow 6% YoY in 2025. Given the low base, we expect A-share earnings to rebound modestly each quarter this year, but deflationary pressure may constrain upward revisions to overall earnings estimates. Amid uncer ...

ab 13 June 2025 Global Research Global Oil and Gas Global Oil & Gas Valuation 13 June 2025 UBS Investment Research Global Oil & Gas Valuation Sheets This material has been prepared by UBS Europe SE Henri Patricot CFA, Analyst, +33-1-4888 3033, henri.patricot@ubs.com 13 June 2025 UBS does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm India Bharat Petroleum Hindustan Petroleum Indian Oil ONGC Reliance Industries Europe BP BW LPG C ...