Republika Srpska , the Serb-run half of Bosnia-Herzegovina, is preparing its first eurobond since a change in leadership led to the lifting of US sanctions, according to the finance minister of the Balkan country’s autonomous entity. The authorities in Banja Luka plan to raise €500 million ($600 million) in five-year notes on the international market in March, ahead of a €300 million repayment due in April, Zora Vidovic, Republika Srpska’s finance minister, told Bloomberg. The coming sale will be the third eurobond by the entity, which had its international debt debut in 2018. While Bosnia ’s Serb and a Muslim-Croat parts are linked by a central government, both can borrow independently on local and international markets, which the Muslim-Croat federation did in July last year. Read more: Bosnia’s Muslim-Croat Federation Plans Eurobond Market Debut An issuance by Republika Srpska would come at an opportune time as yield-hungry investors are scouring frontier markets for new picks to invest in. The start of the year has already seen a cascade of sales from sovereigns from eastern Europe to Africa. Sanctions Lifted The recent months have also brought a relative calm in Bosnia. Years of feuds over the degree of autonomy from central bodies in the capital Sarajevo had brought the country to the brink of collapse, and led to US sanctions against Bosnian Serb leader Milorad Dodik who threatened with secession. The punitive measures were lifted in October after he agreed to step down, even as his ally took over as the entity’s president. The country is a candidate for European Union membership, with limited progress so far in the accession process. Vidovic said however that the country remains firmly on the EU path, and is benefiting from “strong and continuing US support” for stability in the region. Read more: US Lifts Sanctions Against Former Bosnian Serb Leader Dodik “A combination of a more stable political environment, a clear European path and strong transatlantic c...

上海延长《关于本市开展对部分个人住房征收房产税试点若干问题的通知》有效期至2031年1月27日 2026-01-29 13:29:52 来源： 同花顺7x24快讯 分享 上海市财政局发布通知称，经评估，《关于本市开展对部分个人住房征收房产税试点若干问题的通知》(沪财发〔2020〕18号)需继续实施，有效期延长至2031年1月27日。

近两日，飞天茅台（600519）价格出现了一轮持续上涨，据业内人士透露，目前茅台（600519）市场需求并未出现激增的情况，但临近年末部分烟酒店提前备货和茅台（600519）采取的控量策略，或是推动价格上涨的主要原因。第三方报价平台显示，1月29日，2026年原箱茅台（600519）价格单瓶价格上涨20元为1610元/瓶，回升到1600元以上，散瓶的价格保持在1570元/瓶，前几日茅台（600519）的批价还稳定在1550元/瓶左右。记者在“i茅台（600519）”平台看到，1499元的普茅连续第29天在多次秒空后显示售罄。在北京多个即时零售平台显示，普茅的零售价也回升到1570元到1600元/瓶。(第一财经)

文章提及标的 台积电 -- 英伟达 -- 英伟达（NVDA）CEO黄仁勋表示，对台积电（TSM）的执行情况非常满意。

条例对符合条件的儿童用药品给予不超过2年的市场独占期，对符合条件的罕见病用药品给予不超过7年的市场独占期。 近日，新修订的《中华人民共和国药品管理法实施条例》（下称“条例”）正式发布，并将于5月15日起施行。这也是条例实施23年来首次全面修订，修改条款比例达90%以上。 值得关注的是，此次新修订的条例拓展了药品试验数据保护制度，并首次引入了药品市场独占期制度，加强药品知识产权保护。 为充分考虑保护特殊群体的用药权益，条例将药品市场独占期制度等扩展到罕见病用药品、儿童用药品。对符合条件的儿童用药品给予不超过2年的市场独占期，对符合条件的罕见病用药品给予不超过7年的市场独占期。 此外，国家对含有新型化学成分的药品以及符合条件的其他药品的上市许可持有人提交的自行取得且未披露的试验数据和其他数据实施保护，数据的保护期限自药品注册之日起不超过6年。 第一财经记者注意到，去年国家药监局就已发布《药品试验数据保护实施办法（试行）》及配套的工作程序两份征求意见稿，加强对创新药、改良型新药、首家获批仿制药品的数据保护。 专家表示，在数据保护期内，创新药企业获得合理收益，有助于持续研发创新；数据保护期之后，仿制药企业借助原研药数据，简化上市申请，有助于降低药价。 “市场独占期内，其他企业无法基于原研数据申报同品种药品，保障了企业的市场回报预期。”一位国内生物药企负责人对第一财经记者表示，“保护药企在研发中投入巨大成本所获得的原创数据，是鼓励创新的另一项重要制度，既给予了创新药明确的回报期，也为仿制药（尤其是高难度仿制药）的后续开发预留了空间。” 去年两会期间，全国政协委员、复旦大学上海医学院副院长朱同玉就曾呼吁，建立与鼓励创新相匹配的药品试验数据保护制度，以保障企业持续创新。 朱同玉对第一财经记者表示，新药研发是一个风险高、投资大、周期长的过程，药物有效性与安全性数据的获得需要进行长期推进和不断拓展的临床试验，他建议将目前现有对国产创新药的保护周期从三至五年进一步延长。 微芯生物创始人、董事长鲁先平对第一财经记者表示：“这些制度条款都是行业一直希望国家药监局予以修改的，现在终于开始逐步落地了，这给了我们创新药企研发企业很大的信心。尤其是条例中提到给予符合条件的药品一定年限的市场独占期，这肯定对创新药发展有积极意义。” 一位跨国医药公司高管对第一财经记者说道，在欧美市场，创新药数据保护期...

文章提及标的 高铁 -- 1月29日，国产智能基座方案提供商润芯微科技宣布完成近4亿元B+轮融资。本轮融资由重庆长嘉纵横私募股权投资基金、恒旭资本、江苏省战新基金、苏州高铁（885562）新城国控等多家国资及产业资本共同参与，所募资金将重点用于国产计算平台解决方案迭代升级、AI操作系统演进、端侧AI模型开发等核心技术突破，进一步夯实公司全栈式技术体系的核心竞争力。

(RTTNews) - Givaudan AG (GVDBF.PK), a Swiss maker of flavors, fragrances, and cosmetic ingredients, reported Thursday lower profit in fiscal 2025, while sales edged up from last year with growth in both segments. The firm further lifted its dividend, and said it delivered on its ambitious targets of 2025 strategy, and also issued outlook for 2030. Separately, Givaudan announced certain changes to its Executive Committee and Board of Directors. In fiscal 2025, net income dropped 1.7 percent to 1.071 billion Swiss francs from last year's 1.090 billion francs. In local currency, net income increased 3.9 percent. Basic earnings per share were 116.08 francs, compared to 118.17 francs for the same period in 2024. The EBITDA was 1.75 billion in 2025, down 0.8 percent from last year. The EBITDA margin was 23.4 percent, compared to 23.8 percent a year ago. On a comparable basis, the EBITDA margin decreased to 24.2 percent from 24.5 percent last year. Full -year Group sales were 7.47 billion francs, an increase of 0.8 percent from 7.41 billion francs a year ago. Sales grew 5.1 percent on a like-for-like or LFL basis. Fragrance & Beauty sales increased 7.9 percent and sales in Taste & Wellbeing grew 2.4 percent, both on LFL basis. In the fourth quarter, sales dropped 2.2 percent to 1.729 billion francs from 1.768 billion francs last year. Further, at the Annual General Meeting on March 19, Givaudan's Board of Directors will propose a cash dividend of 72.00 francs per share for 2025, an increase of 2.9 percent from last year. Over the next five years, by 2030, the Company is targeting 4-6 percent average like-for-like sales growth and over 12 percent average free cash flow. Regarding the executive changes, the company noted that Christina?Yeo, currently Head of Taste?&?Wellbeing Operations, APAC, will be appointed Head of Givaudan Business Solutions & IT and will join the Executive Committee, with effect from May 1. Yeo succeeds Anne?Tayac, who will retire. Effective April 1, F...

Bogdan Nicolaescu/iStock via Getty Images Overview When I previously covered Guggenheim Active Allocation Fund ( GUG ), I issued a buy rating due to the attractive valuation and the potential catalyst of future interest rate cuts. Since then, the fund's share price hasn't moved much, but the total returns remain positive. Interest rates have shifted since the time of my last coverage, and the fund has released an updated semi-annual report, which prompted me to revisit the fund's current value proposition for 2026. I believe the fund can be a great option for investors seeking a reliable source of income generation, but there are some tradeoffs that investors must consider. Looking at the performance over the last twelve months, we can see that GUG's share price has declined by about 0.7%. So despite the challenges around the health of the debt markets, the fund has remained quite resilient. When including all distributions that were paid out to shareholders, the total return jumps up to 9.1% over the same time frame. GUG now offers investors a starting dividend yield of about 9.1% and issues payouts on a monthly basis. However, the fund's distribution coverage is a bit variable over time, which makes me a bit cautious about the possibility of the underlying NAV and share price declining. Data by YCharts Interest rates have declined a bit since my last coverage, but the federal funds rate still remains near the higher end of its ten-year range. Therefore, GUG's actual growth may remain minimal until there are more interest rate cuts throughout 2026. In a scenario where there are not any interest rate cuts throughout 2026, I worry about the fund's ability to generate sufficient earnings over time. Additionally, GUG's allocation to lower-rated securities introduces the threat of being impacted by borrower defaults. So let's start by taking a look at the underlying strategy that GUG implements to generate its earnings. Fund Strategy According to the latest fund overvie...

中国目前的8011家直营店将转换为国际业务部门下的特许经营店 上海青浦区，星巴克咖啡。图：视觉中国 【财新网】 当地时间1月28日，星巴克（NASDAQ：SBUX）发布2026财年第一财季（即2025年四季度）财报。当季中国市场营收8.23亿美元，同比增长11%；同店销售额同比增长7%，其中同店交易量增长5%，同店客单价增长2%。截至2025年末，星巴克在中国共有8011家门店。 2025年11月4日，星巴克（NASDAQ：SBUX）宣布与中国另类资产管理公司博裕投资达成战略合作，博裕投资将以约40亿美元的估值，收购合资企业至多60%的股权，星巴克保留40%股权，即博裕投资实际出资约24亿美元；此外星巴克将继续作为星巴克品牌与知识产权的所有者和授权方，向新成立的合资企业进行授权；星巴克还将继续独立运营昆山咖啡工厂、云南咖啡种植者支持中心等非零售资产。合资公司预计在2026年一季度完成组建。

AVGO260130C00390000 互動股市圖表 | AVGO Jan 2026 390.000 call 股市 Yahoo 財經

格隆汇1月29日｜上海延长《关于本市开展对部分个人住房征收房产税试点若干问题的通知》有效期至2031年1月27日。

【有線新聞】中方表示將派工作小組前往澳洲合作調查一名嬰兒前年在布里斯班被人潑熱咖啡燙傷的案件，澳洲警方表示涉案的中國籍疑犯雖然已返回內地，暫時無法引渡，但認為中方可以動用域外管轄權在內地起訴疑犯。 澳洲嬰兒被人潑熱咖啡的案件事發在前年8月，當時僅9個月大的盧卡在布里斯班的公園，被一名陌生人潑熱咖啡燙傷，因嚴重燒傷接受至少8次手術，包括人工皮膚移植及激光治療等。 疑犯事後逃離現場，片段被閉路電視拍攝到。，警方稱這名年約33歲的中國籍留學生案發後數日離境，目前身在中國，當局指控他蓄意造成他人身體嚴重傷害，最高可判處終身監禁，但中澳沒有引渡協議，難以將他帶回澳洲受審。 中國駐澳洲大使肖千表示中方高度重視案件，會嚴肅處理，將派遣工作小組前往布里斯班與澳洲合作調查，了解案發經過，討論如何共同推進後續處理。澳洲聯邦警察與昆士蘭警察發表聯合聲明，稱支持中方派出代表赴澳展開調查，感謝中方持續的合作，同時指中國對在境外犯罪的公民擁有域外管轄權，意味即使不進行引渡，仍可在內地起訴疑犯。 傷嬰案發生後引起不少人同情受害者，治療盧卡的眾籌捐款累計至少23萬澳元。至於涉案的中國籍留學生據報是因簽證延期申請被拒，將怒火發洩在盧卡身上。事件同時引發極右情緒升溫，有新納粹分子曾在中國領事館外抗議，要求中方引渡疑犯。 亞裔男熱咖啡淋9月嬰 火速潛逃、動機不明 澳警：已掌握目的地國際追捕

文章提及标的 英伟达 -- 英伟达（NVDA）CEO黄仁勋：已访问中国的一些客户、合作伙伴和政府官员。

字节的眼镜在工业设计环节就有三个不同的团队在参与，最后才敲定了两个构型方向——一个是带显示的ai眼镜（886085），即将在2026年Q4发布；另一个是不带显示的ai眼镜（886085），将在今年Q1(大概率是春节后)发布。与豆包在内的字节其他成熟业务的协同，将会是这些新硬件的主要卖点。一位看过字节眼镜的人士告诉记者，字节的ai眼镜（886085）将主打全天候拍照。不久前，有媒体也披露出字节第一代眼镜主要面向豆包资深用户推出。(36氪（KRKR）)

BKNG281215C04300000 互動股市圖表 | BKNG Dec 2028 4300.000 call 股市 Yahoo 財經

NDIVOHKL1.CO 互動股市圖表 | Nordea Invest - Virksomhedsobligationer Højrente 股市 Yahoo 財經

格隆汇1月29日｜科创50午后跌幅扩大至2%。

Donny DBM/iStock via Getty Images A Strong Year Most important, though, is to keep working; I knew that I essentially never wanted not to work. To me, working is a form of sustenance, like food or water, and nearly as essential. -Katharine Graham Dear GreenWood Investor: We are pleased to report a year of strong returns for our investors, driven by solid underlying fundamental performance. In 2025, our core separate accounts generated 52.5% net returns, compared to 22.1% for the MSCI ACWI net index. Inception to date returns have been upgraded to 12.9% per year vs. 8.4% for the ACWI Index. Foreign exchange was a positive contributor to performance for 2025, which offset the negative impact from being long the euro in 2024. We continue to believe over time FX will be a wash, and only seek to hedge currency exposure when we view sentiment as being heavily skewed in any direction, or to balance factor exposure. Our hedged fund returned modestly lower performance as a result of the hedges and fee structure, which has no management fee yet carries a performance fee with it. Overall, our 2025 portfolio returns were mostly driven by solid underlying performance of our portfolio companies, which prior to the additions of two new core positions, generated a weighted average operating profit growth of roughly 21%, using sell-side estimates for full year profit. This operating income growth will ignore progress achieved at other companies where operating income is not the primary driver of value creation, discussed in the next section. Excluding these companies, the portfolio returns of 30% outperformed the underlying profit growth. Much of this outperformance has been the result of a handful of portfolio components improving the underlying behavioral narrative. Our behavioral framework, which complements our valuation and quality frameworks in our global ranking process, seeks to anticipate behavioral changes in investors' perceptions. Often this can be triggered by improveme...

格隆汇1月29日丨券商经纪业务“价格战”仍在持续，上海市证券同业公会最新披露数据显示，2025年上海地区A股平均佣金率为0.192‰（去除高频量化业务为0.206‰），同比下降13.9%。其中，本地分支机构A股平均佣金率为0.249‰（去除高频量化业务为0.252‰），异地分支机构A股平均佣金率为0.173‰（去除高频量化业务为0.189‰）。

SAP SE press release ( SAP ): Q4 Non-GAAP EPS of €1.62 beats by €0.11. Revenue of €9.68B (+3.2% Y/Y) misses by €80M. In the fourth quarter, current cloud backlog grew by 16% to €21.05 billion and was up 25% at constant currencies. Q4 was a strong cloud quarter, with bookings resulting in 30% Total Cloud Backlog growth to a record €77 billion.Total cloud backlog up 22% and up 30% at constant currencies. Cloud revenue was up 19% to €5.61 billion and up 26% at constant currencies. Cloud ERP Suite revenue was up 23% to €4.86 billion and up 30% at constant currencies. Non-IFRS operating profit up 28% and up 31% at constant currencies in FY2025. SAP announces a new, two-year share repurchase program with a volume of up to €10 billion. Operating cash flow in the fourth quarter increased from -€0.58 billion to €1.30 billion and free cash flow increased from -€0.91 billion to €1.03 billion. Outlook 2026 Financial Outlook 2026For 2026, SAP expects: €25.8 – 26.2 billion cloud revenue at constant currencies (2025: €21.02 billion), up 23% to 25% at constant currencies. €36.3 – 36.8 billion cloud and software revenue at constant currencies (2025: €32.54 billion), up 12% to 13% at constant currencies. €11.9 – 12.3 billion non-IFRS operating profit at constant currencies (2025: €10.42 billion), up 14% to 18% at constant currencies. Approximately €10 billion free cash flow at actual currencies (2025: €8.24 billion). An effective tax rate (non-IFRS) of approximately 29% (2025: 30.4%)[3]. Constant currency current cloud backlog growth to slightly decelerate in 2026 (2025: 25%). SAP further expects: Constant currency total revenue growth to accelerate through 2027. Total operating expenses to grow at 80% to 90% of total revenue growth in 2027. Constant currency software support revenue decline rate to accelerate in the coming years as a consequence of an acceleration of customers transforming to the cloud. More on SAP SE SAP: A Costly Myth Masks A Forming Contrarian Setup SAP: A Softwa...

临近年末部分烟酒店提前备货和茅台采取的控量策略推动价格上涨。 近两日，飞天茅台价格出现了一轮持续上涨，据业内人士透露，目前茅台市场需求并未出现激增的情况，但临近年末部分烟酒店提前备货和茅台采取的控量策略，或是推动价格上涨的主要原因。 第三方报价平台显示，1月29日，2026年原箱茅台价格单瓶价格上涨20元为1610元/瓶，回升到1600元以上，散瓶的价格保持在1570元/瓶，前几日茅台的批价还稳定在1550元/瓶左右。 记者在“i茅台”平台看到，1499元的普茅连续第29天在多次秒空后显示售罄。在北京多个即时零售平台显示，普茅的零售价也回升到1570元到1600元/瓶。 2025年春节前，茅台价格基本保持稳定，这一轮价格上涨也引起了市场的关注。记者从部分综合酒商了解到，近期茅台市场需求没有出现激增的情况，比较平稳。一般腊月23日（2月10日）物流就会停运，大部分酒商会在腊月25日（2月12日）放假，因此终端烟酒店此时开始陆续备货，带来部分需求。 白酒独立分析师肖竹青告诉第一财经记者，本轮茅台价格上涨，主要是由于茅台主动控量稳价的政策干预，叠加春节旺季的季节性需求因素推动。2025年12月以来，贵州茅台通过"暂停发货、削减非标产品等控盘动作"短期稳定市场情绪，但这更多是政策调控结果，而非纯粹的市场需求反弹。

Tesla will end Model S and X production, focus on humanoid robots at Bay Area factory CBS News

格隆汇1月29日｜A股市场白酒股午后涨幅进一步扩大，其中，泸州老窖、酒鬼酒涨超6%，古井贡酒涨近6%，舍得酒业、贵州茅台、水井坊、金徽酒涨超4%，山西汾酒、皇台酒业涨超3%。 消息面上，受春节旺季需求向好等因素影响，近日53度、500ml飞天茅台酒批价持续上涨，今日已涨至约1600元/瓶。与此同时，记者调研了解到，部分茅台省区直营店已出现飞天茅台“库存不足”的情况，仅在i茅台申购成功者能保证有现货。