Switzerland Financial News

Investing.com — Wall Street futures head higher after the Federal Reserve reaffirmed plans for three interest rate cuts this year. The Swiss National Bank became the first major central bank to cut interest rates, and more central banks are due. Reddit is set to start trading, having been priced at the top of its IPO range.

The Ethereum Foundation, the Switzerland-based non-profit organization that created and continues to develop the Ethereum blockchain, faces investigation by an unnamed “state authority”, the group’s GitHub repository says.

Begusarai as the world's most polluted city reflected "Western bias", the Bihar State Pollution Control Board (BSPCB) said on Wednesday and questioned the methodology used in the entire exercise. Speaking to PTI, BSPCB Chairman Devendra Kumar Shukla questioned why only one pollutant, PM 2.5, was taken into consideration for analysing the air quality of Begusarai and other cities in India. «When we talk about air quality, it should be a comprehensive analysis, taking into account all pollutants — PM 2.5, PM 10 (particulate matter less than 10 microns), nitrogen oxide, sulphur dioxide, ozone, carbon monoxide, ammonia and lead,» he said. «I will not call it a comprehensive analysis of air quality at all. There is a Western bias in the report,» he added.

Russia’s seizure of billions of dollars worth of foreign-owned planes has set off the biggest-ever brawl in the normally staid business of aircraft insurance. Some of the world’s biggest insurers are fighting back against claims by the aircraft’s owners. The insurers say the owners should have done more to grab planes before they were seized.

Yes Bank has received cash consideration of ₹203.40 crore in relation to the same, it said. On January 20, Yes Bank had invited Expression of Interest (EOI) for sale of identified stressed loan exposures through auction under Swiss Challenge Method. This was being undertaken by the bank in accordance with the provisions of Reserve Bank of India’s Master Direction on Transfer of Loan Exposures, 2021.

warmest 10-year period on record". "Earth's issuing a distress call," said UN chief Antonio Guterres, adding that the report showed "a planet on the brink". He also pointing out that "fossil fuel pollution is sending climate chaos off the charts", and warning that "changes are speeding up".

Looking into the rate of crypto adoption and the share of cryptocurrency owners in 56 countries as of February 2024, Nigeria and Turkey lead the pack, according to data from Statista.

On the first anniversary of UBS Group’s historic takeover of its former rival Credit Suisse, it’s becoming clear just how advantageous the deal has been for the bank. It has pushed its market capitalization past $100 billion to the highest level in almost 16 years and cemented its leading role in global wealth management. 

Investing.com — Wall Street futures point to a cautious trading day ahead of the start of the latest Federal Reserve policy-setting meeting, especially after the Bank of Japan lifted its interest rates for the first time in almost two decades earlier in the session. Nvidia continues its annual developer conference, while Bitcoin suffers its largest one-day drop in two weeks..

Those who win the lottery often spend the money unwisely. This is the risk UBS needs to keep in mind on the anniversary of its Credit Suisse windfall. A year ago Tuesday, UBS said it would buy its embattled rival under the auspices of Swiss regulators, who wanted to end a banking panic.

Begusarai emerged as the world's most polluted metropolitan area while Delhi was identified as the capital city with the poorest air quality, according to a new report. With an average annual PM2.5 concentration of 54.4 micrograms per cubic metre, India had the third worst air quality out of 134 countries in 2023 after Bangladesh (79.9 micrograms per cubic metre) and Pakistan (73.7 micrograms per cubic metre), according to the World Air Quality Report 2023 by Swiss organisation IQAir. In 2022, India was ranked as the eighth most polluted country with an average PM2.5 concentration of 53.3 micrograms per cubic metre. Begusarai stood out as the most polluted metropolitan area globally with an average PM2.5 concentration of 118.9 micrograms per cubic metre. The city did not even figure in the 2022 rankings.

National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday, said people with knowledge of the matter. NARCL gave a binding offer of Rs 670 crore to acquire Rs 3763 crore debt from lenders, according to a sale notice that did not name the ARC. The offer from NARCL—which is a 15:85 structure—equated to an 18% recovery from lenders. Under the structure, 15% of the consideration is cash, and the balance is in the form of security receipts (SR) payable on loan recovery.

UBS Group’s appetite for acquisitions goes beyond its mega-deal last year to purchase the distressed Credit Suisse Group, with the chair of UBS saying over the weekend that its next set of targets is likely to be wealth management firms in the United States, starting a few years from now.

By Herbert Lash and Harry Robertson

S Jaishankar. It is important to note that the India-Ukraine inter-governmental commission—established in April 1994—oversees all aspects of the bilateral relationship including trade, economic, scientific, technological, industrial and cultural cooperation. The Ukrainian foreign minister’s India visit has yet not been officially announced by either of the countries, though he is expected to be in New Delhi around March 28, the report said.

After climbing 4% last week, crude oil will be looking to extend those gains as we start a busy week.

(Reuters) -The week ahead is rammed with rate setting meetings by heavyweight central banks from the U.S. Fed to the Bank of England, from Switzerland and Norway to Mexico. 

By Wayne Cole

ZURICH (Reuters) — Swiss banking giant UBS will look for merger and acquisitions opportunities in the United States in the next few years, its chairman told the NZZ newspaper on Sunday.

UBS Group’s more diversified wealth management exposure and business mix makes it more attractive than US peer Morgan Stanley, according to analysts at JPMorgan Chase & Co. 

By Stefania Spezzati and Oliver Hirt