Day: September 27, 2024

Wilmington, Delaware, Sept. 27, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Bariatric surgery devices Market by Device Type (Assisting Devices, Implantable Devices, and Others), Procedure (Sleeve Gastrectomy, Gastric Bypass, and Others), and End User (Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the barbituric acid market was valued at $0.2 billion in 2023, and is estimated to reach $0.3 billion by 2033, growing at a CAGR of 4% from 2024 to 2033. 

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Prime determinants of growth  

Rising demand in the pharmaceutical industry and growing research and development activities are the major factors that drive the growth of the market. However, adverse health effects hinder the market growth. Moreover, technological advancements in manufacturing offer remunerative opportunities for the expansion of the global barbituric acid market.  

Report coverage & details 

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Segment Highlights  

More Preference for High Pure Grade Barbituric Acid  

High pure grade barbituric acid is more utilized than regular grade due to its superior quality and consistency, essential for sensitive applications in pharmaceuticals and analytical chemistry. Its higher purity ensures minimal impurities, leading to better performance, safety, and reliability in drug synthesis and laboratory experiments, thereby meeting stringent regulatory and industry standards.   

Pharmaceutical Application of Barbituric Acid   

Pharmaceutical applications of barbituric acid, including sedatives, anesthetics, and anticonvulsants, are more widely used due to their effectiveness in managing conditions like anxiety, epilepsy, and for inducing anesthesia. These drugs leverage barbituric acid’s properties to exert significant central nervous system effects, making them crucial in medical treatments   

Regional Outlook  

The market outlook for barbituric acid varies regionally. North America and Europe lead due to advanced pharmaceutical sectors and stringent healthcare regulations. Asia-Pacific shows promising growth with increasing healthcare investments and expanding pharmaceutical industries. Latin America, Middle East, and Africa also demonstrate potential with rising healthcare awareness and improving infrastructure.  

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Key Players  

• Zhengzhou Lifeng Chemical Co., Ltd.  

• Explicit chemicals pvt. Ltd.  

• Hebei Chengxin Co., Ltd.  

• Danopharm Chemicals Pvt. Ltd.  

• CDH Druh House (P) Ltd.  

• Hunan HongQiang Chem Technology Development Co., Ltd.  

The report provides a detailed analysis of these key players in the global barbituric acid market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

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Hampton, VA, Sept. 27, 2024 (GLOBE NEWSWIRE) — As Hampton Roads faces new economic challenges, institutions of higher education are stepping up to drive regional prosperity. Hampton University, with a legacy spanning more than 155 years, continues to be a key economic engine, contributing an impressive $530 million in economic impact to the Hampton Roads community. New preliminary findings reveal that the HBCU’s influence extends far beyond the classroom, transforming the local economy and supporting thousands of jobs in the region.

According to a recent UNCF report, Hampton University ranks #1 in economic impact in the Commonwealth of Virginia, while standing among the top historically Black colleges and universities (HBCUs) in the nation for economic contributions. This significant impact is fueled by Hampton’s operational spending, wages, and institutional purchases, which support local businesses and stimulate the regional economy. Additionally, the indirect effects—from student spending to the influx of visitors to campus—create a ripple effect that generates millions more in sustained economic activity.

“Hampton University plays a pivotal role in the economic fabric of Hampton Roads,” said Hampton University President Darrell K. Williams. “Our findings affirm and underscore our commitment to not only educating future leaders but also investing in the vitality of the region. Our community impact, especially during these times, speaks to the power of partnership and progress.”

The University’s role as an economic powerhouse is further reinforced by its recent recognition in Virginia Coastal magazine as the 2023 Best Private College, an accolade that not only highlights Hampton’s academic excellence but also its unparalleled economic contributions to the Commonwealth.

Hampton University’s contributions are visible across several sectors. The university supports approximately 2,200 jobs in the local and regional economies, including over 800 on-campus positions and additional roles created through university-related spending.

Economic Impact Breakdown

Jobs and Salaries:

Hampton University is a major employer in Hampton Roads, providing thousands of jobs for faculty, staff, and support personnel. These jobs contribute to the local workforce and bolster the economic stability of surrounding communities. In addition, wages earned by employees are spent locally, supporting industries like healthcare, retail, dining, and hospitality, thus creating a multiplier effect. In Hampton Roads, where the unemployment rate hovers around 3.7%, the job opportunities provided by the university are crucial for maintaining economic momentum.

Housing:

The presence of Hampton University generates significant demand for housing in Hampton Roads, particularly in Hampton, Newport News, and surrounding cities. Faculty, staff, and students live both on and off-campus, which bolsters the local real estate market. This demand supports property values and contributes to new housing developments, particularly in rental housing, where occupancy rates remain high. In 2023, Hampton’s residential rental market saw an average occupancy rate of 96.4%, a rate bolstered by the continuous demand from the university’s student body and employees.

Purchases of Retail Goods and Services:

The spending power of Hampton University’s employees, students, and visitors results in substantial purchases of retail goods and services in the local community. From daily essentials such as groceries and transportation to leisure activities like dining and entertainment, this spending fuels local businesses. In 2023, retail sales in Hampton Roads exceeded $26 billion, with Hampton University’s community contributing a significant share of that revenue. Additionally, the university itself spends millions on operational needs, contracting with local vendors and suppliers, further supporting the Hampton Roads business ecosystem.

Visitors to Campus:

Hampton University attracts a significant number of visitors each year, including alumni, parents, and guests attending athletic events, Homecoming, Commencement, the Ministers’ Conference, and the Hampton Jazz and Music Festival. These visitors contribute to the local economy by spending on accommodations, dining, transportation, and shopping. In Hampton Roads, tourism-related spending contributes over $5.2 billion annually, and Hampton University’s events play a key role in generating this economic activity.

Year-round Athletic Events:

Hampton University’s athletics program, particularly in sports like football and basketball, brings in fans from across the region, generating revenue for local businesses. Spectators spend on tickets, merchandise, and local services, with popular games such as Homecoming and Community Day contributing significantly to the local economy. During the 2023-2024 season, Hampton’s home football games alone brought over 25,000 spectators, injecting much-needed revenue into hotels, restaurants, and retail outlets.

Annual Events:

Signature events like Commencement, the Ministers’ Conference, Homecoming, and the Hampton Jazz and Music Festival attract large crowds from around the country, contributing millions of dollars to the local economy. The annual three-day Hampton Jazz and Music Festival draws approximately 20,000 attendees, delivering an estimated $3 million economic impact. These events not only bring revenue to local businesses but also enhance the region’s reputation as a cultural and tourist destination.

Elevating Engagement, Embracing Innovation

As Hampton University moves forward under President Williams’ leadership, the institution’s 10-year strategic plan, Elevating Hampton Excellence, charts a bold path for expanding stakeholder engagement and driving economic development. The plan focuses on strengthening partnerships with local businesses, fostering innovation through research, and creating new avenues for growth that benefit the community.

President Williams envisions untapped opportunities for universities to further enhance local economies—such as technology transfer, entrepreneurship programs, and workforce development tailored to meet the region’s evolving needs. By leveraging its intellectual capital, resources, and collaborative spirit, Hampton University is poised to become an even greater force for economic progress in Hampton Roads, ensuring a future of shared prosperity and collaboration.

About Hampton University

Hampton University, a dynamic historically Black institution in southeastern Virginia with a legacy of excellence in education, research, and community service, provides a nurturing and empowering environment for students to thrive academically and personally. Founded in 1868, Hampton emphasizes a scientific and professional curriculum with a strong liberal arts undergirding, offering a broad range of technical, liberal arts and graduate degree programs. With a commitment to inclusion and innovation, Hampton continues to be a beacon of educational leadership in the Commonwealth of Virginia. Named to Money Magazine’s “Best Colleges in America” and “Best Private College” in Virginia by Virginia Coastal magazine, HU is a tightly-knit community of learners and educators representing 44 states and 32 territories and nations. With a commitment to fostering intellectual curiosity, critical thinking, and global citizenship, Hampton University prepares students to thrive in an ever-changing world. Visit www.hamptonu.edu.

• Leading Hampton’s Economic and Educational Impact
• Hampton University

Richelle Payne
Hampton University 
757.727.5253
Richelle.Payne@Hamptonu.edu

European inflation reported in France and Spain slowed in September below the European Central Bank’s (ECB) target rate of 2%.

This has raised chances of an ECB interest rate cut at its meeting next month.

France’s Harmonized Consumer Price Index slowed to 1.5% in September, from 2.2% in August, according to INSEE data. The consensus for September was 1.9%, according to TradingView.

“The softest inflation report EVER from France almost smack-dab at our out of consensus forecast,” Andreas Steno Larsen, CEO at Steno Research posted on X. “The ECB will cut in October I think.”

French headline annual inflation slowed to 1.2% in France, from 1.8% in August.

This marked the second straight month that the rate held below the ECB’s inflation target, according to INSEE data.

Source: INSEE, France’s Consumer Price Index

There was a “big downside surprise” in French headline inflation,” Frederik Ducrozet, Head of Macroeconomic Research, Pictet Wealth Management, wrote on X.

“If we get similar surprises across euro area countries the ECB will have all it needs to cut in October.”

Spain’s annual HCPI stood at 1.7%, compared to 2.4% a month earlier, according to the country’s statistics institute. This came in below consensus of 1.9%, according to TradingView data.  

European Inflation Boosts Rate Cut Probability to 79%

Money markets reacted to European inflation data from France and Spain, Europe’s second and fourth largest economies.

They now indicate that there is a 79% chance of an ECB interest rate cut next month, up from a 60% chance on Thursday and 25% a week ago, the Telegraph reported. 

Analysts at BNP Paribas also shifted their call for October to a ECB interest rate cut, as did Bloomberg Economics, according to Bloomberg News.

“Our base case has now been revised to call for an ECB rate cut in October,” Jamie Rush, chief European economist at Bloomberg Economics, wrote.

“We previously expected policymakers to wait on further confirmation of disinflationary trends,” Rush wrote. “That confirmation seems to be arriving early.”

The euro fell, and Eurozone government bond yields dropped, in response to the European inflation data. Germany’s 10-year bond yield, the benchmark for the eurozone bloc, fell 3.5 basis points to 2.14%.

Lagarde Remains Cautious On European Inflation

The latest inflation data does not guarantee that the ECB will cut rates. 

ECB President Christine Lagarde cautioned on September 12, after the central bank cut interest rates by 25 basis points, that European inflation is expected to rise again in the latter part of this year before declining towards “our target over the second half of next year.”

Euro area HICP inflation: ECB Staff Projections

She also warned on September 20 in Washington that the “uncertainty ahead is still profound.” Her comments came two days after the Federal Reserve lowered rates by 50 basis points. The ECB first cut rates by 25 basis points in June.

While Lagarde has taken a cautious approach to the ECB’s next rate decision, pressure may build on slowing growth across the 27-member bloc.

German unemployment climbed to 3.8% in August, compared to 3.2% year on year, the country’s Federal Statistical Office said on Friday.

“The eurozone is heading towards stagnation,” Cyrus de la Rubia, Hamburg Commercial Bank chief economist, said in an S&P Global press release on September 23.

Disclaimer:

Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. European Capital Insights is not responsible for any financial decisions made based on the contents of this article. Readers may use this article for information and educational purposes only.

This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.