Switzerland Financial News

RBI may again keep the key interest rate unchanged in April as it is likely to focus more on bringing down inflation to the 4 per cent target after concerns over economic growth abated with GDP growth estimated at nearly 8 per cent, said experts. Also, the Reserve Bank's rate-setting panel — Monetary Policy Committee (MPC) — may take cues from the central banks of some major economies like the US and UK, which are apparently in wait-and-watch mode on interest rate cuts. Switzerland has become the first major economy to cut interest rates, while Japan, the world's third-largest economy, ended its eight-year period of negative interest rates regime. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for April 3-5. The decision will be announced on April 5 (Friday). It will be the first bi-monthly monetary policy of fiscal 2024-25. A total of six MPC meetings are scheduled for the fiscal beginning April 1, 2024.

HDFC Bank has decided to sell its 100 per cent stake in HDFC Education and Development Services Private Ltd. The transaction will be undertaken through the Swiss challenge method, HDFC Bank said in a regulatory filing on Saturday. «In this regard, HDFC Bank has, on March 30, 2024, entered into a binding term sheet with an interested party, and the offer contained in such term sheet shall serve as the anchor/base bid to seek counter offers from other parties interested in participating in the aforesaid Swiss challenge process,» it added. HDFC Bank will finalise the purchaser on the basis of the completion of the Swiss challenge process, it said, adding that after which the bank and successful bidder would enter into definitive documentation for the purposes.

Rolex to Hublot: Indians find more time for Swiss luxury However, at the time of the raid, the President was not at her residence, the agency said. The joint operation between the police and the prosecutor's office at the Peruvian President's house was broadcast on the local television channel Latina. Government agents cordoned off Boluarte's house in the Surquillo District of the capital Lima.

Western Europe has emerged as a leading region in global crypto adoption, attracting a substantial number of daily traders, ranging from 1.2 million to 1.5 million individuals.

UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, following its takeover of stricken rival Credit Suisse.

China has won a nearly three-year-long dispute with Australia at the World Trade Organization over tariffs on steel products that began during a low point of bilateral relations between the countries

Crypto custody firm Copper reportedly threw a London party where attendees were served sushi off two partially-clad models.

A British financial trader described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis has lost his appeal to have his conviction quashed

equity capital markets had its strongest start in three years in 2024 as economic uncertainty waned and stocks rallied, but a revival in initial public offerings has lagged. Bankers carried out $143.9 billion of stock sales worldwide so far this year, the best first quarter since 2021, according to Dealogic data.

In the twelve months to 31 December, the Swiss asset manager's IFRS net loss after tax stood at CHF 82.1m (£71m), compared with CHF 290 million (£253.4m) in 2022.  The firm also posted underlying losses before tax of CHF 49.5m (£43.3m), up from CHF 42.5m (£37.1m) in the previous year, due to lower revenues from a drop in assets under management.  GAM agrees CHF 100m loan with core shareholder GAM said the CHF 32.3m (£28.2m) difference between the underlying and the IFRS net loss after tax mainly relates to «brand impairment and strategic initiatives expenses».  According to data...

₹6,341.90 apiece after the global brokerage firm UBS in its latest report lifted the target price on the stock to ₹7,550 apiece from an earlier price target of ₹5,380, citing a high double-digit growth across domestic and export orders from motion and low-voltage EP segments with a steady ramp-up in OPMs. It expects order inflow growth of 23% during 2023–26E, with revenue growth of around 21% on a 23% earnings CAGR.

Last week, Central Banks, including the Bank of Japan, Federal Reserve, Bank of England, and Swiss National Bank held meetings.

Turkey’s Misyon Bank has announced its partnership with Swiss firm Taurus to leverage its digital asset custody and tokenization technology. 

The turbulent years that followed the global financial crisis were not an ideal time for Michael Dorrell and Trent Vichie to be seeding a new infrastructure fund.

The crypto market shook off some of the jitters from last week, creeping back up in the green on Monday. Bitcoin rebounded past $70,000, and gains were seen across crypto tokens and crypto-related stocks.

The Bitcoin (BTC) price pushed back above $70,000 on Monday for the first time in 9 days as traders focused on the theme of global central bank easing, a possible easing on GBTC sell pressure and BlackRock’s first major entry into the realm of asset tokenization.

There was a sense the tide had turned when Swiss National Bank surprised markets and cut its interest rate on Thursday — the first of the central banks in the developed world to do so.

Thornton co-founded Mayfair Capital Investment Management in 2002, which was acquired by the firm in 2016 and rebranded to Swiss Life Asset Managers UK in May 2023. He served as CEO from 2002 until 2021. The firm said a successor will be announced «in due course». Head of UK wealth Doug Abbott exits Schroders for Vanguard after 15 years Thornton said: «The time has come to seek other opportunities in the industry, and I would like to thank and acknowledge the tremendous support I have received from all my colleagues in the UK and in Zurich. „In Swiss Life Asset Managers, we foun...

Bitcoin has shown resilience, rebounding to the $67,000 mark after the Federal Reserve's decision to maintain key interest rates for the fifth consecutive meeting. However, this upward trajectory was short-lived as Bitcoin promptly retreated to the $65,000 level, spurred by a strengthening US dollar possibly catalyzed by the Swiss Central Bank's decision to reduce interest rates by 25 basis points. Additionally, the outflows on Bitcoin spot ETFs especially from Grayscale’s GBTC rose contributing to the downward trend. Despite these temporary setbacks, Bitcoin has managed to sustain itself above the critical $60,000 threshold, showcasing impressive growth of 26% over the past month and a staggering 133% over the past year. The next support level would be around $64,000, with resistance expected at $67,300. Concurrently, Ethereum hovers around the $3,500 mark, with bullish sentiments aiming to reclaim levels above $3,600, potentially triggering an upward trend.

The strong trend for gold unravelled somewhat at the back end of last week thanks to a strong US dollar. As the metal retreated from the record high it had hit earlier in the week, it formed some mild bearish price action in the process, denting its short-term technical outlook.

However, over the last 24 hours, Bitcoin experienced a slight decline, with its latest trading price showing a 0.3% decline to $66,190 as of 10:58 am IST. It also touched an intraday low of $64,580.