Brought to you by Investec Switzerland. Swiss stocks followed global equity markets lower this week after oil tumbled to a seven year low, hitting commodity producing emerging markets, while uncertainty around next week’s anticipated US rate hike weighed further on investor sentiment. U.S. and European monetary policy is expected to officially diverge next week when […]
Terrorism alert level rises in Geneva
Tribune de Genève. According to the newspaper, unease is rising among the public in Geneva. Concerns started on Thursday morning when Geneva’s authorities revealed that they had been notified by Bern of the likely presence in the Geneva region of several terrorist suspects. The unfolding of events is set out below. Thursday 10 December 2015 at […]
Swiss National Bank announcement pushes franc higher
Brought to you by Investec Switzerland. The Swiss National Bank (SNB) announced today that it is maintaining its expansionary monetary policy. The target range for three-month Libor remains unchanged at between –1.25% and –0.25%, and the interest rate on sight deposits with the SNB stays the same at –0.75%. The announcement pushed the franc as high […]
Lausanne’s proposed tower is an “insult to good sense and taste”
Georges Rigassi, the editor of the Lausanne Gazette, is vehemently against the building project and says it is an “insult to good sense and taste”. Designed by Lausanne architect Alphonse Laverrière and inspired by New York’s skyline, the 79 metre, 19 floor tower would be Switzerland’s first skyscraper. The building has divided the community and is […]
Radicalised bag handler worked at Geneva airport
Tribune de Genève. According to the newspaper, a resident of the French region of Haute-Savoie sought by the French authorities after the attacks in Paris, worked as a baggage handler at Geneva airport for six months. The self proclaimed preacher placed under house arrest in November, before being placed in detention for not regularly clocking in with the […]
Swiss parliament wants to strip terrorists of their Swiss passports
Tribune de Geneve. Dual nationals implicated in terrorist activities or who leave to fight in the name of jihad, should be stripped of their Swiss nationality. The Swiss National Council voted in favour of a UDC (SVP) parliamentary initiative of this nature by 102 votes against 85 on Monday. The initiative’s text, put forward previously by […]
Swiss national bank’s foreign currency holdings reach all-time high
Brought to you by Investec Switzerland. The Swiss National Bank’s holdings of foreign currency soared to an all-time high in November, a month that the franc depreciated roughly 4 percent against the dollar. The reserves, on which economists keep a close watch for clues to the central bank’s interventions, rose to 562.7 billion francs ($563 […]
Geneva’s giant broken chair gets a new foot
As part of the commemoration of world disability day Geneva’s giant broken chair found itself with a giant foot. The foot appeared on Monday last week. The chair, which has three good legs and one which appears to have been blown off in an explosion, symbolises opposition to land mines. The 12 metre high chair was […]
Salt’s Swedish CEO quits
The Vaud-based company announced today that Johan Andsjö has decided to leave Salt as CEO with immediate effect. The Swedish Engineer turned CEO describes himself as someone who starts things up, shuts things down and turns things around. In his profile on Salt’s website he offers a thought: It’s easy to make simple things complicated. […]
SMI underperforms after Draghi disappoints
4 December 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI underperformed the MSCI World this week along with other European markets after a cut in the European Central Bank’s deposit rate and the magnitude of the extension of its quantitative-easing plan announced on Thursday afternoon disappointed investors. While […]
