Kazakhstan Temir Zholy , the Central Asian country’s sole railway operator, is considering an initial public offering as soon as May to raise about $1 billion as part of its broad expansion drive, according to people familiar with the matter. The state-owned company is weighing a dual listing on the domestic stock exchange and abroad of as much as 25% of its equity, said the people, who asked not ...
Kazakhstan Temir Zholy , the Central Asian country’s sole railway operator, is considering an initial public offering as soon as May to raise about $1 billion as part of its broad expansion drive, according to people familiar with the matter. The state-owned company is weighing a dual listing on the domestic stock exchange and abroad of as much as 25% of its equity, said the people, who asked not to be identified as the information is not public. The railway monopoly expects its transit shipments to grow, and that would boost the valuation, the people said. KTZh’s shipments edged higher to 27.9 million tons in January to November last year, compared with 27.5 million tons in 2024. On Tuesday, Kazakh President Kassym-Jomart Tokayev named transport logistics as a strategic priority and ordered the completion of two new railroads to help increase shipments. Still, Tokayev cautioned that the government should reconsider plans to boost shipments by 65% to 55 million tons this year as neighboring countries may not be able to handle the volumes. KTZh is working with Citigroup Inc. , JPMorgan Chase & Co. and Societe Generale SA on preparations for the initial public offering, Bloomberg reported in November. At the time, people familiar with the matter estimated the company could be valued at $10 billion or more. KTZh and its owner, sovereign wealth fund Samruk-Kazyna JSC, declined to comment on the parameters of the planned deal. KTZh is the largest owner of locomotives, freight cars and passenger cars in Kazakhstan and is also among the country’s biggest employers. The company maintains cross-border operations through 16 junction points with neighboring countries like China, Russia, Uzbekistan, Kyrgyzstan and Turkmenistan, according to its latest annual report . With China having overtaken Russia as Kazakhstan’s largest nation-trading partner, there are plans to build new railroads for a connection from east to west through the Central Asian nation, Deputy Prime Minister S...
A Chinese University of Hong Kong (CUHK) student who was arrested for sedition after launching a petition calling for an independent committee to investigate the Tai Po fire has said he has been expelled from the institution. “I was just expelled by CUHK,” Miles Kwan Ching-fung wrote on social media at midnight on Friday, ending his post with a thumbs-up emoji. He said he had been suspended twice ...
A Chinese University of Hong Kong (CUHK) student who was arrested for sedition after launching a petition calling for an independent committee to investigate the Tai Po fire has said he has been expelled from the institution. “I was just expelled by CUHK,” Miles Kwan Ching-fung wrote on social media at midnight on Friday, ending his post with a thumbs-up emoji. He said he had been suspended twice and had studied only intermittently over the past six years. Kwan uploaded a screenshot that partly...
Russian Oil To Slovakia Via Damaged Druzhba Pipeline Still Halted As Accusations Fly Oil supplies via the vital Druzhba pipeline to Slovakia have reportedly been halted, and it's flows have been suspended since initially being damaged on January 27. Ukrainian oil and gas company Naftogaz, as well as Ukraine officials, have alleged that Russia attacked its own facility in eastern Ukraine. But the p...
Russian Oil To Slovakia Via Damaged Druzhba Pipeline Still Halted As Accusations Fly Oil supplies via the vital Druzhba pipeline to Slovakia have reportedly been halted, and it's flows have been suspended since initially being damaged on January 27. Ukrainian oil and gas company Naftogaz, as well as Ukraine officials, have alleged that Russia attacked its own facility in eastern Ukraine. But the precise facility was previously undisclosed. The new charges of a Russian attack surfaced again as follows : However, city officials in Brody, where Druzhba meets the Brody-Odesa oil pipeline, warned the population about pollution from burning oil products and Mr Sybiha posted on X a picture of firefighters against a backdrop of flames. “This is the Druzhba pipeline infrastructure burning after the latest targeted Russian strike on January 27th, which stopped oil transit .” We know that the Hungarian side is preparing to complain again about problems with Russian oil transit through the Druzhba pipeline. We can only advise them to approach their “friends” in Moscow with these photos. This is the Druzhba pipeline infrastructure burning after the… pic.twitter.com/Xbn3DGCRkl — Andrii Sybiha 🇺🇦 (@andrii_sybiha) February 12, 2026 In essence, the Zelensky government is angry that Hungary is not vocally protesting the halt . But Hungarian Foreign Minister Peter Szijjarto has suggested Kiev was responsible for blocking electricity supplies for the operation of the pipeline. " "Why don’t you ask your President when he will allow to restore the electricity supply of the pipeline?" Szijjarto retorted on X. Hungary continues to rely heavily on Russian oil, even after most European nations have imposed sanctions and sought alternative sources. Hungary's Russian energy supply is primarily delivered through Druzhba, which passes through Belarus and Ukraine before reaching Hungary and Slovakia. This is whey every time something happens several European officials are involved in accusations ...
Olivier Le Moal/iStock via Getty Images By Joseph Nelesen From a U.S. equities perspective, the first month of 2026 started on a different trajectory compared to years past. S&P 500 ® performance trailed much of the rest of the world (as measured by the S&P World Ex-U.S. Index ), and within the U.S., the performance of the S&P 500 Information Technology (“U.S. Tech”) ranked in the bottom half amon...
Olivier Le Moal/iStock via Getty Images By Joseph Nelesen From a U.S. equities perspective, the first month of 2026 started on a different trajectory compared to years past. S&P 500 ® performance trailed much of the rest of the world (as measured by the S&P World Ex-U.S. Index ), and within the U.S., the performance of the S&P 500 Information Technology (“U.S. Tech”) ranked in the bottom half among all 11 GICS ® sectors. Fears of trade tensions tied to geopolitics, rising worries of an AI bubble and tepid economic data points dragged on overall market performance, with The 500 ® falling for much of the month before finishing up 1.5%, while U.S. Tech fell 1.7%. It was just over three months prior that U.S. Tech had reached an all-time high in October 2025, before sliding down 6.1% over the three months ending in January. U.S. Tech’s latest decline is noteworthy but certainly not unprecedented, as the sector produced negative three-month performance 109 times over the last 30 years, with more than half of those periods even worse than January’s result, as shown in Exhibit 1. One might fairly ask what happened to U.S. Tech after previous three-month declines and how its performance compared to the same sector around the rest of the world at those times. As it turns out, Information Technology showed resilience worldwide, but particularly so in the U.S. Exhibit 2 plots performance of two sector indices, the S&P 500 Information Technology and the S&P World Ex-U.S. Information Technology (Sector) Index (“Ex-U.S. Tech”) over 12-month periods after 3-month declines since January 2006. Following periods of three-month declines, U.S. Tech typically rebounded at a greater magnitude than did Ex-U.S. Tech, increasing an average of 22.1% over the subsequent 12 months and outperforming The 500 by 7.6%, while 3-month drops in Ex-U.S. Tech were followed by average total performance of 12.0% and 1.5% excess performance versus the S&P World Ex-U.S. Index. Shifting focus away from peri...
Agnico Eagle ( AEM ) has approved an increase in the quarterly dividend of 12.5% and has declared a quarterly cash dividend of $0.45 per common share (previously $0.40 per share). The dividend is payable on March 16, 2026, to shareholders of record as of March 2, 2026. More on Agnico Eagle Agnico Eagle: Not The Best Gold Mining Pick Due To Valuation And ROE Concerns Agnico Eagle: Why This Best-In-...
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