8 April 2016 – Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI is set to finish the week (+1.15%), significantly higher, having outperformed global equity markets (-1.13%), thanks to the strong performance of healthcare giants Novartis and Roche. Global equities fluctuated during the week receiving a boost towards the end of the […]
The Panama Papers – Geneva lawyers – shady companies and shady clients
Tribune de Genève. The following is a translated summary of an article published by the Geneva newspaper, Tribune de Genève, relating to the Panama Papers. They swear an oath to uphold the law. Yet it appears some Swiss lawyers haven’t. As the Panama Papers reveal, some of them have administered offshore companies for clients placed on […]
Glencore sells $2.5 billion stake in agriculture unit
Brought to you by Investec Switzerland. Canada’s largest pension fund agreed to pay $2.5 billion for a minority stake in Glencore Plc’s agriculture unit as the commodity trader and miner works to reduce its debt burden. Canada Pension Plan Investment Board will acquire a 40 percent stake in the division which handles wheat, corn, barley, […]
Swiss chocolate giant beats analysts’ estimates
Brought to you by Investec Switzerland. Barry Callebaut AG, the low-profile maker of a quarter of the world’s chocolate, reported first-half earnings that beat estimates as it weeds out less profitable cocoa contracts. Earnings before interest and taxes dropped 8.4 percent to 201 million Swiss francs ($210 million) in the six months through February, weighed down […]
Are you ready for Switzerland’s new money?
Next Tuesday a new Swiss note will go into circulation. Fortunately, the new 50 franc note will be the same colour as the current one to avoid confusion at the check-out. Measuring 70 x 137 mm, the new bill is smaller in size than the current 50 franc note of 73 x 149 mm. According […]
Snow returns to Switzerland
20 Minutes. Don’t put your coats and gloves away just yet. Temperatures and the snow line are set to drop significantly by the end of the week. The foehn, a warm wind that blows from the south, lifted Swiss temperatures sharply to close to 25 degrees last Sunday, bringing a taste of summer to western […]
Swiss won’t hoard cash despite smaller bills, SNB’s Jordan says
Brought to you by Investec Switzerland. Swiss National Bank President Thomas Jordan doesn’t expect cash stockpiling even with negative interest rates and a new series of smaller banknotes. “The size has no impact on the cash hoarding,” he said in a Bloomberg Television on Wednesday in Bern after the central bank unveiled a new banknotes […]
3 cheers for Switzerland! – the prisoners of war interned in Switzerland in 1916
“It is difficult to write calmly about it for the simple reason that I have never before in my life seen such a welcome accorded to anyone, although for twenty-eight years I have been present at every kind of function in half the capitals of Europe. At Lausanne some 10,000 people, at 5am, were present […]
Geneva encourages foreigners to become Swiss before rules change
Back in June 2014, the Swiss parliament passed a law which changed the number of years of residence required to qualify for Swiss citizenship, the type of residence permit you must have before applying, and the age band within which one year of residence counts as two. The new law only allows those on permanent […]
Surprisingly, Swiss think the grass is greener in this country
A recent study by Geneva-based Livewhat, asked people from nine european nations what they thought about living conditions in one another’s country on a scale of 0 to 10. A score of 6 or more was considered good. The countries included were: Italy, Greece, UK, Spain, Poland, Germany, France, Sweden and Switzerland. In addition, each group was asked […]
