Switzerland Financial News

It was a pivotal week for Central Banks around the world, with several important rates decisions shaking the investing landscape for the year ahead.

ARCs, have accumulated 55% of KSK Mahanadi Power's ₹29,330-crore debt from lenders in separate transactions, shows disclosure made by the stressed thermal power company's resolution professional. The ARCs brought over ₹16,168 crore in loans in the hope that there would be demand for thermal power companies, giving them a huge upside, while lenders have exited due to over a four-year delay in its debt resolution. In the latest deal, Prudent ARC acquired ₹156 crore of debt from Punjab & Sind Bank (PSB) at an unchallenged Swiss auction in an all-cash deal of ₹125 crore, said people with knowledge of the matter. This equated to an 80% recovery for the lender.

The World Happiness Report 2024, a partnership of Gallup, the Oxford Wellbeing Research Centre, the UN Sustainable Development Solutions Network, and WHR’s Editorial Board, is out. Mint evaluates its metrics to explain why it may not be the final word on happiness. India is ranked 126 out of 143 nations surveyed.

slowdown among Chinese shoppers have dogged the luxury industry for the better part of a year. Last week the scale of the problem hit home for one of fashion’s biggest but most exposed brands, Gucci. French group Kering SA saw $9 billion wiped off its market value after warning that sales of the Italian label’s products in China have slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry.

₹6,749 per barrel after hitting an intra day high of ₹6,803 per barrel, on the multi commodity exchange (MCX). Also Read: Explained | Upside risk on inflation to export woes—here's how the Red Sea crisis will impact Indian economy in FY25 -Analysts said that successful peace talks would prompt Yemen's Houthi rebels to allow oil tankers to pass through the Red Sea. Blinken met Arab foreign ministers and Egypt's President Abdel Fattah El-Sisi in Cairo as negotiators in Qatar centred on a truce of about six weeks.

By Amanda Cooper

Supreme Court on Friday took note of Swiss financial services firm Credit Suisse submission’s that SpiceJet has cleared its outstanding dues and is no longer in default as on date. A Bench led by Justice Hima Kohli while posting the matter for further hearing in July noted the submissions made by senior counsel Liz Mattews, appearing for Credit Suisse, that “matter should be taken up after three months to ensure that they (Spicejet) don’t default as they have been doing in the past,” The court was hearing a contempt petition filed by Credit Suisse against Singh over the non-payment of dues despite a court-approved commercial settlement arrived at between the Swiss firm and the low-cost airline in 2021. The dispute arises from SpiceJet's alleged failure to honour invoices raised by Credit Suisse.

Gold and silver prices Today on 22-03-2024 : Check latest rates in your city Back home, gold prices plummeted by ₹875 to reach ₹66,575 per 10 grams in the national capital on Friday, influenced by subdued trends in global markets. In the preceding trade, the valuable metal had reached a settlement price of ₹67,450 per 10 grams. The rise in the dollar pushed it to its highest level in a month, thereby increasing the cost of gold for holders of other currencies.

Since the beginning of March, the S&P 500 has been undergoing a nice consolidation, which passed between the day before yesterday and yesterday.

Investing.com-- Bitcoin price weakened in Asian trade on Friday as strength in the dollar, which rebounded sharply to three-week highs, pushed the world’s largest cryptocurrency below $65,000. 

Investing.com-- Gold prices fell in Asian trade on Friday, retreating further from record highs hit this week as a sharp uptick in the dollar, following a surprise interest rate cut by the Swiss National Bank, pressured metal markets. 

Investing.com-- Most Asian currencies fell sharply on Friday, coming under pressure from a rebound in the dollar as an unexpected interest rate cut by the Swiss National Bank pushed currency traders squarely into the greenback.  

Investing.com-- Most Asian stocks sank on Friday with Chinese markets leading losses on resurgent concerns over a slowing economy, while a rally in Japan’s Nikkei 225 ran dry after strong inflation data. 

Read the full story here.)Sensex Today Live : The local equity market is anticipated to commence on a subdued note this Friday, taking cues from a mixed global market. Asian markets exhibited a mixed trend, with Japan's Nikkei reaching an unprecedented high.

Investing.com-- Oil prices fell in Asian trade on Friday, and were set for a muted finish to the week as reports of renewed calls for a Israel-Hamas ceasefire pointed to fewer supply disruptions in the Middle East.

By Rae Wee

By Laila Kearney

By Alden Bentley, Alun John and Tom Westbrook

The Bank of England has kept its main interest rate unchanged at a 16-year high even though inflation continues to drop from multi-decade peaks

The Swiss National Bank says it's trimming its key interest rate, a surprise move that makes Switzerland the first major financial center to announce a cut in recent months

There is a new sheriff in town! Word on the street is that this new crypto might be the next big thing after Solana and Ethereum.