Category Archive: 3) Swiss Markets and News

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Chinese textile firm buys luxury Bally brand

2018-02-12

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2018-02-12

Luxury shoemaker Bally, which was founded in Switzerland in 1851, has again changed hands. China’s Shandong Ruyi has agreed to buy a controlling stake in the firm from Luxembourg-based JAB Holding, the companies said on Friday. “This is an important milestone for Shandong Ruyi Group in our enterprise to become a global leader in the fashion apparel sector,” Yafu Qiu, Chairman of Shandong Ruyi Groupexternal link, said in a statement.

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Swiss stock market holds up amid global turbulence

2018-02-11

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2018-02-11

After a week marked by declines on Wall Street and stalling Asian markets, the Swiss stock market closed on Friday relatively unscathed, with the index of blue chip stocks dropping 0.93% to 8682.00 points. Over the course of the week, the Swiss Market Index (SMI) of leading Swiss stocks fell by 3.1%.

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South Korea and Switzerland set a currency swap

2018-02-10

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2018-02-10

South Korea and Switzerland are entering into a bilateral currency swap agreement, it was announced on Friday. The move is aimed at strengthening buffers against external financial shocks for both countries. “The swap agreement enables Korean won and Swiss francs to be purchased and repurchased between the two central banks, up to a limit of KRW11.2 trillion, or CHF10 billion [$10.6 billion],” a Swiss National Bank statement saidexternal link.

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Swiss real estate risk falls two quarters in a row, says UBS

2018-02-09

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2018-02-09

Regions with Price Correction and Exposed Regions
The UBS Swiss Real Estate Bubble Index declined in the last quarter of 2017, the second quarterly decline in a row. Prices are considered balanced when the index reaches zero. Between zero and 1 is considered a price boom, between 1 and 2 is considered at risk and above 2 a bubble. At the end of 2017 the index sat at 1.32, still in the zone where there is a risk of a price correction.

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Swisscom reports job cuts, data breach

2018-02-09

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2018-02-09

The Swiss telecom company, whose majority shareholder is the government, announced plans to reduce up to 700 jobs by the end of the year as part of cost-cutting measures. It also revealed a data breach of client information. “By the end of 2018, Swisscom expects to have a headcount of around 17,000 FTEs [full-time employees] in Switzerland, around 700 fewer than at the end of 2017,” said a company statementexternal link released on Wednesday.

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Magdalena Martullo-Blocher, CEO Ems-Chemie

2018-02-09

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Die Börsen-Turbulenzen stellen einen guten Jahresabschluss von Ems-Chemie etwas in den Schatten. CEO Magdalena Martullo-Blocher sagt im Interview mit cash, warum sie bezüglich Wirtschaftsentwicklung skeptisch ist.

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Börsen-Talk vom 9. Februar 2018

2018-02-09

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Anleger sollen eine Bodenbildung an den Börsen abwarten und erst dann gezielt zukaufen, sagt Panagiotis Spiliopoulos, Research-Leiter bei der Bank Vontobel. Im Börsen-Talk blickt er auf die kommenden Börsenmonate.

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Wood not labelled properly in Switzerland

2018-02-08

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2018-02-08

Five out of six Swiss companies selling wood or wooden products fail to declare the type and origin of the wood correctly – despite a legal requirement that has been in place since 2012. As the Federal Consumer Affairs Bureauexternal link announced on Tuesday, it conducted 120 inspections last year and found that only 17% of the audited companies had declared their products correctly.

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Greek politicians named in Novartis scandal

2018-02-08

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2018-02-08

Greece's parliament has linked ten prominent politicians to a bribery scandal involving Swiss drug-maker Novartis. The Greek parliament announced on Tuesday the results of a judicial investigation into alleged bribes paid to public officials by Basel-based Novartisexternal link over nearly a decade to boost subscriptions of their products at public hospitals.

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Swiss tech universities boost economy by CHF13 billion, report says

2018-02-07

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2018-02-07

Switzerland’s federal technology institutes account for 100,000 jobs and CHF13 billion in added value to the economy, a new report calculates. This represents a fivefold return on investment, it claims. The institutes – notably the universities of EPFL in Lausanne and ETH in Zurich – have long been acknowledged as vital components of the Swiss image and economy; the reportexternal link by British consulting firm BiGGAR now tries to put a value on...

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Swiss real estate market UBS Swiss Real Estate Bubble Index 4Q 2017

2018-02-07

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2018-02-07

Switzerland UBS Real Estate Bubble Index
The UBS Swiss Real Estate Bubble Index declined in the fourth quarter of 2017, and is currently in the risk zone at 1.32 index points. This second fall in succession was driven by the persistently low increase of mortgage volumes. However, this may have been underestimated, as the records of mortgages granted by insurers and pension funds are inadequate. The majority of the sub-indicators remained unchanged in the last quarter.

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Swiss hospitals join forces in battle against cancer

2018-02-07

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In Fribourg, the cantonal hospital is joining forces with a private clinic to tackle prostate and breast cancers. This kind of partnership is a first in Switzerland and has earned international recognition. (RTS/swissinfo.ch) — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide …

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Getting precious metals from dry slag

2018-02-07

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A modern facility in the Zurich Oberland that sorts precious metals from dry slag has turned out to be a veritable gold mine, with some of its finds yielding millions of francs. It’s a great example of how valuable raw materials can be recovered from waste.(SRF/swissinfo.ch) — swissinfo.ch is the international branch of the Swiss …

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New Swiss tourism boss targets Alpine cyclists and non-skiers

2018-02-06

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2018-02-06

New head of Switzerland Tourism Martin Nydegger expects hotel bookings to rise by 4% this winter season, owing to abundant snow. In an interview with Sonntagszeiting and Le Matin Dimanche newspapers, he also talks about priorities for 2018. Nydegger took over on January 1 from Jürg Schmid, who had headed the organizationexternal link for 18 years. He says he is planning some changes, but not a big shakeup.

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The secret life of a bunker

2018-02-05

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There is a place, in the Graubünden mountains, which remained top secret until 1994… Nouvo brings you short videos about Switzerland, Swiss current affairs and the wider world. Keep up to date and watch the videos wherever you are, whenever you like. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its …

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Motorway stickers set to bring in CHF350 million

2018-02-04

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2018-02-04

Anyone wanting to drive on Swiss motorways from Thursday will need the new 2018 vignette, a charge sticker which is placed inside one’s windscreen, costing CHF40 ($42.90). The Federal Customs Administration said on Wednesday it expected to sell around 9.6 million vignettes, resulting in a net income of some CHF347 million.

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Swiss face longer commutes

2018-02-04

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2018-02-04

The average commute time to work in Switzerland was 30 minutes in 2016, or 14.8 kilometres (9.2 miles), according to the Federal Statistical Office. This is 7% more than in 2010. Every day, 3.9 million people, out of a labour force of 4.8 million, commuted to work in 2016 – up from 2.9 million in 1990.

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Swiss cross-border shopping not always worth it, says study

2018-02-03

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2018-02-03

Carrefour
In 2015, Swiss residents made 24 million shopping trips abroad. The average Swiss-based cross-border shopper travelled 69 kilometres to shop in a neighbouring country, 55 kilometres further than they did when shopping in Switzerland, according to a study published by Credit Suisse.

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More fighter jets grounded after cracks found

2018-02-03

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2018-02-03

The Swiss Air Force has found cracks in a further three of its 30 F/A-18 Hornet fighter jets. The aircraft have been taken out of action, the defence ministry said on Friday. A broken hinge was first discovered on a landing flap of an F/A-18C during an intermediate inspection at the end of Januaryexternal link. It was then decided to submit all remaining F/A-18 jetsexternal link to tests, to ensure their air worthiness and safety.

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Switzerland ranked ‘global capital of bank secrecy’

2018-02-02

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2018-02-02

Switzerland is the most secretive financial centre in the world, followed by the United States, according to the Tax Justice Network, a non-governmental organization that campaigns for greater transparency. The Cayman Islands, Hong Kong, Singapore, Luxembourg, Germany, Taiwan, the United Arab Emirates and Guernsey (in descending order) were ranked in the top ten of the NGOs Financial Secrecy Indexexternal link, published on Tuesday.

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