Brought to you by Investec Switzerland. The U.K.’s decision to leave the European Union poses a threat to research and development in the pharmaceutical industry, Roche Holding AG Chief Executive Officer Severin Schwan said. A departure would mean the country would have to set up its own system for approving drugs for sale, a job […]
Swiss markets fluctuate on earnings data
22 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. Global financial markets showed resilience this week following the failed coup attempt in Turkey over the weekend. […]
Switzerland could start charging drivers per kilometre
24 Heures. Less than two weeks ago it was revealed that the Swiss Federal Roads Office (FEDRO) wants to limit motorway speeds to 80 km/h during rush hour. It is hoped that lowering the speed limit and using hard shoulders or emergency lanes near cities could increase traffic fluidity and reduce traffic congestion. In addition, the […]
Restored paddle boat “Italie” makes its first test run on Lake Geneva
Taken out of service in 2006 for renovation, the paddle boat “Italie” left dry dock this morning for a test run on Lake Geneva. The vessel, which originally went into service in 1908, made the weekly return trip from Geneva to Le Bouveret and back for nearly 50 years. The 66 metre ship can take […]
Swiss gay divorce rate higher than heterosexual
20 Minutes. Since 1 January 2007, gay couples in Switzerland have been able to register their partnerships under Swiss federal law. At a federal level, same sex partnerships are governed by rules known in French as LPart and in German as PartG, rather than by laws covering heterosexual marriage. A number of Swiss cantons offered […]
Prisoners let out of Geneva prison to clean
Le Matin. Near the end of their terms some Swiss prisoners are put to work. Under certain conditions, a voluntary programme allows them to spend their their days working and their nights in an “open” centre. They end up in workshops, kitchens or cleaning for the city of Geneva, before being released or deported to […]
Givaudan profit beats estimates on U.S. fragrance demand
Brought to you by Investec Switzerland. Givaudan SA, the world’s largest flavors and fragrance company, reported first-half profit that beat analyst estimates on increased demand for perfumes. Earnings before interest, taxes, depreciation and amortization rose 13 percent to 638 million francs ($649 million), the Vernier, Switzerland-based company said in a statement on Monday. Analysts had […]
Novartis says profit may drop
Brought to you by Investec Switzerland. Novartis AG said profit may fall this year as the Swiss drugmaker increases spending on the heart medicine Entresto and faces declining sales of its best-selling cancer treatment Gleevec. Core operating income will either be about the same as 2015 or decline by a percentage in the low single […]
Swatch profit plunges as demand falls across europe, asia
Brought to you by Investec Switzerland. Swatch Group AG said first-half profit fell by more than half — the most in at least 15 years — as demand for its watches in Hong Kong, France and Switzerland collapsed. Sales fell about 12 percent, the Biel, Switzerland-based maker of Omega and Tissot timepieces said in an […]
Swiss stocks higher on stimulus bet
15 July 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The Swiss Market Index (SMI) is set to finish this week higher tracking equity market gains around the world as investors begin to anticipate a new wave of economic stimulus from central banks. Global equity markets rebounded from their post-Brexit losses […]
