On Friday the Swiss National Bank (SNB) put out new figures showing a rise in average Swiss net worth. The numbers show that total Swiss household wealth grew 4.4% to CHF 3.3 trillion in 2014. This figure includes real estate and financial assets – including pensions, less mortgages and other loans. At the end of 2014, […]
Swiss market rallied despite Paris terror attack
20 November 2015 – Weekly Swiss and global market roundup. Brought to you by Investec Switzerland. The SMI rallied this week to outperform global stocks with Swiss companies benefitting from a weaker Swiss franc. Stock markets across the world are also set to end the week higher despite last week’s terror attack in Paris. Equities […]
Basel firm to pay staff in Euros
24 Heures. The Basel-based clothing retailer Tally Weijl announced that it will pay new employees working at its Swiss headquarters in Euros instead of Swiss francs, sweeping aside plans to move the office across the border to Lörrach in Germany. This way the clothing company can better manage the risks associated with exchange rate movements. With […]
Swiss temperatures set to plummet
The latest weather forecasts show Swiss temperatures falling abruptly ahead of this weekend. The Meteo Swiss website is showing a high of 17 degrees celsius for Geneva and Zurich today. By the weekend winter will have arrived with temperatures dropping sharply on Friday night. By Sunday the high in both Zurich and Geneva will be 5 degrees, […]
Biggest slump in Swiss watch shipments in 6 years
Brought to you by Investec Switzerland. Swiss watch exports had their biggest decline in six years in October, led by a 39 percent slump in shipments to Hong Kong, the industry’s largest market. Shipments declined 12 percent to 2 billion Swiss francs ($2 billion), the Swiss customs office said in a statement Thursday. Adjusted for […]
Roche cancer drug too expensive for UK’s National Health Service (NHS)
Brought to you by Investec Switzerland. The UK’s National Institute for Health and Care Excellence (NICE), says Roche’s breast cancer drug Kadcyla is still too expensive. Although retained for use through the Cancer Drugs Fund, Roche’s breast cancer treatment, Kadcyla (trastuzumab emtansine), will not be recommended for routine NHS use because its price remains too high. NICE’s draft […]
ChemChina looking for money to buy Basel-based chemicals giant Syngenta
Brought to you by Investec Switzerland. China National Chemical Corporation (ChemChina) approached sovereign wealth funds including China Investment Corporation (CIC) to help pay for a potential acquisition of Syngenta AG, which would be the biggest Chinese acquisition ever if it goes ahead, people with knowledge of the matter said. ChemChina, as the state-owned company is […]
Geneva’s Jet d’eau pays tribute to Paris victims
Last night Geneva’s iconic jet of water, the Jet d’eau, was lit red white and blue in tribute to the victims of this weekend’s attacks in Paris. Le jet d’eau de Genève rend également hommage aux victimes des attentats à Paris ❤️❤️ pic.twitter.com/BTA4nOclsn — KangouRo (@Roro080319911) 15 Novembre 2015 @LHallyday @JohnnySjh #TeamHallyday Ce soir #Genève […]
Swiss president speaks out on Paris attacks
In an interview by RTS, Switzerland’s national broadcaster, Swiss president Simonetta Sommaruga strongly condemned the attacks in Paris. She said she was deeply shocked by what happened yesterday evening in Paris and that Switzerland strongly condemns the attacks. Adding that “these attacks are against all our deepest societal and human values. Our hearts are with […]
Swiss-French border controls strengthened after Paris attacks
Tribune de Genève. After the attacks in Paris last night, where according to lemonde.fr at least 128 are dead and 180 wounded the French government decided to control France’s borders. According to the Geneva based daily, border controls have been strengthened between France and Geneva. At the Thônex-Vallard border, the main motorway entry point from France […]
