Switzerland Financial News

As a first step, trading on the Deutsche Börse Digital Exchange (DBDX) will take place on a Request for Quote basis, followed by multilateral trading. Deutsche Börse operates the trading venue using existing connectivity to market participants.

NARCL) has offered lenders base bids for the bad loan accounts of Hitodi Infra, Sion Panvel Tollways and Morarjee Textile with total consolidated debt of more than ₹4,000 crore. Based on binding bids from the government-backed bad bank, lenders have initiated a Swiss challenge auction for Hitodi Infra. The lenders, including Bank of Baroda, ICICI Bank, Axis Bank, Bank of India, IDBI Bank and State Bank of India, have appointed BoB Capital as the process advisor. NARCL has offered ₹465 crore for the outstanding loans of ₹2,101 crore. The lenders have asked bidders to either bid in all cash or on a cash-and-security receipt basis. NARCL buys debt under a 15:85 structure where 15% is paid in cash and 85% in security receipts. The minimum markup will be 5% of the anchor bid. The Swiss auction will be held on March 26.

B Sai Praneeth on Monday announced his retirement from international badminton, bringing down curtains on a successful career during which he won the Singapore Open and also represented India at the Tokyo Olympics. The 31-year-old from Hyderabad decided to hang his boost after battling nagging injuries since the Tokyo Games. «With a mix of emotions, I pen down these words to bid farewell and announce my retirement from the sport that has been my lifeblood for over 24 years,» he posted on his Instagram account. «Today, as I embark on a new chapter, I find myself overwhelmed with gratitude for the journey that brought me here.

By John Revill

Geneva-based commodities trading firm Gunvor said Friday that it has reached $661 million settlement with U.S. and Swiss prosecutors after a conviction for bribery of foreign officials in connection with the petroleum industry in Ecuador

ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans as a clean-up for future growth capital. The bank has concluded the sale of the NPA portfolio it had announced in the previous quarter. Initially planning to sell assets amounting to ₹410 crore, Saraswat Bank later reduced the pool to ₹385 crore, seeking bids on a 100% upfront cash basis as it wanted to clean up its loan book for future growth. BOB Capital Markets was the process advisor.

Swiss voters backed a plan to raise pensions, the first time in the country's history that social benefits got an increase via plebiscite. The proposal to lift pensions by about 8% was supported by 58% of the electorate, according to a projection from Swiss broadcaster SRG. The plan also looks very likely to get the additionally required majority of cantons. Official results are due later on Sunday.

China’s woes. Just over a year ago, Mr Xi abandoned his strict “zero-covid" measures, which had been in force for nearly three years and had led to ever more frequent lockdowns. But the country did not experience what Mr Xi described in his speech as a “smooth transition".

Macquarie Capital is writing down nearly its entire investment in Indian startup Byju’s, weeks after Swiss bank Julius Baer Group Ltd. accused it of charging fees based on an outsized and outdated valuation, according to people familiar with the matter. The unit of Australia’s Macquarie Group Ltd. is cutting the value of its stake in the beleaguered education provider by about 98%, the people said, asking not to be identified because the matter is private. Macquarie Capital invested a few hundred millions of dollars in Byju’s in 2021, said the people.

India is expected to see 50% growth in ultra-high networth individuals (UHNIs) in next five years, said a new report on Wednesday.

Suven Pharmaceuticals, which announced the proposed merger of Cohance Lifesciences on Thursday, will be investing in research and development, commercial capabilities, and pursuing merger and acquisitions, as it aspires to be the «most admired» fully integrated global contract development and manufacturing organisation (CDMO) services provider, the company's top executive said. «We want to be a diversified, end-to-end capability outsourcing partner, serving customers from development to commercial scale. Doing this reliably & consistently across a wide range of chemistries, that's where the opportunity is,» said Annaswamy Vaidheesh, executive chairman of Suven in an interview to ET. «Our business is really about partnering with the customers over the long term. Our success is inextricably linked with our customer's as our business models are hard wired together,» Vaidheesh said. He added that he wants Suven to be the Lonzas of the world. Lonza-based in Basel, Switzerland is a global CDMO powerhouse.

UK Visas and Immigration information on gov.uk, the UK sponsor licence was a must for people who want to employ someone from outside the UK, including citizens of EU member countries, Iceland, Liechtenstein, Norway and Switzerland who arrived in the UK after December 31, 2020. Education providers, too, needed a sponsor licence to get overseas students and faculty into the UK.

By Tom Westbrook

Portofino Technologies has announced that its UK entity received the regulatory permit to act as a registered crypto asset firm.

Telecoms operator Swisscom has confirmed it’s in talks with Vodafone Group toward a possible purchase of its Italian subsidiary for 8 billion euros ($8.65 billion)

Family office-backed crypto investment firm, ​​Deus X Capital, has agreed to acquire institutional digital assets firm HAYVN for an undisclosed amount.

India’s position remained unchanged at 42 at the International IP Index 2024 compared to 2023, with no change even on the index score which stood at 38.64% since 2022, the US Chamber of Commerce said in a report released on Wednesday. The index ranks 55 countries on their intellectual property (IP) regime. The top countries on the index were the USA (95.48%), UK (94.12%), France (93.12%), Germany (92.46%), Sweden (92.12%), Japan (91.26%), Netherlands (91.24%), Ireland (89.38%), Spain (86.44%) and Switzerland (85.98%).

NEW DELHI : Roche Pharma India, a subsidiary of the Swiss pharmaceutical giant Roche, has launched monoclonal antibody drug, Ocrevus (ocrelizumab) in India for the treatment of multiple sclerosis. The company said Ocrevus is the first disease-modifying therapy (DMT) for both relapsing multiple sclerosis (RRMS) and primary progressive multiple sclerosis (PPMS) and targets 150,000-200,000 patients diagnosed with multiple sclerosis in India. The drug is being launched in India after almost seven years of it being approved by the US Food and Drug Administration (FDA) for global use.

He will be based in Paris and report to global head of fixed income Marion le Morhedec. Broustra has been at AXA IM for over 20 years, and was most recently head of investment specialists for fixed income and multi-asset solutions for the Core Investments platform. AXA Framlington shakes up management of £600m UK Select Opportunities In his new role, he will be responsible for global rates strategies for institutional and third-party clients, while overseeing AXA IM's inflation investment capabilities, as well as the Swiss and Japanese fixed income business. le Morhedec said: «I...

By Gilles Guillaume

A new study put together by Swiss researchers has declared blockchain the best performer in cybersecurity startups, beating out heavyweight fields like Artificial Intelligence and cloud services for the top spot.