Switzerland Financial News

₹6,424 per share. This uptick was followed by a report by CNBC-TV18 revealing the company's participation in the bidding process for Novartis AG's stake in Novartis India. The management of Dr.

Supreme Court on Monday asked low-cost carrier SpiceJet to clear all outstanding dues by March 15 in the ongoing Credit Suisse case. “There is no scope of belated payment. The respondent is not justified in saying so. The very fact that the respondent is in default is apparent from the dateline given,” the SC observed. The SC in September allowed SpiceJet to clear arrears in the airline’s payment to Swiss financial services firm Credit Suisse over a dispute settlement in six months.

NARCL), the country's so-called 'bad bank', has offered Rs 260 crore to acquire Rs 3,040-crore debt of Metenere Ltd, equating to 8.5% recovery for lenders, said people aware of the development. A consortium of 10 lenders led by the State Bank of India accepted the offer under a 15:85 structure and has invited counter offers from other asset reconstruction companies, the people cited earlier said. Lenders will now hold a Swiss challenge auction on March 6, and have invited counter offers with a markup of Rs 15 crore over the anchor offer. NARCL, set up by government to acquire bad loans, will have the first right to match any counter offer.

The Centre has granted approval for the upgradation of 108 roads in Uttarakhand under the Pradhan Mantri Gramin Sadak Yojana (PMGSY). Union Rural Development and Panchayati Raj Minister Giriraj Singh issued the approval letter on Friday (February 16). 

NEW DELHI : Swiss watch imports swelled 16% to cross a record ₹2,000 crore in 2023 as more aspirational Indians snapped up luxury timepieces, led by a sharp rise in December. Imports touched ₹2,093 crore during the year, up from the previous year’s ₹1,500 crore, data from the Federation of the Swiss Watch Association showed. With this, India has become the world’s 22nd largest Swiss watch importer, moving up one place from last year’s position.

Union Bank of India has received bids for four stressed loans worth more than ₹520 crore from ACCIL Corporation, SDB Developers, Jaypee Healthcare and Gammon India, at less than half the value of the loans. It was on a 100% upfront cash basis to ARCIL, CFM ARC, JC Flowers and Omkara ARC. JC Flowers Asset Reconstruction Company emerged the frontrunner to acquire distressed loans of Jaypee Healthcare, while Omkara ARC is in fray to acquire Gammon India loans from Union Bank of India. The government bank received binding bids for four stressed accounts with outstanding loans of ₹525 crore and resulting in 34%-90% recovery. The bank will hold a Swiss auction process on February 21 and accept a minimum bid at 5% mark up to the base bid, according to a bank document.

By Chen Aizhu, Praveen Menon and Julia Payne

Raymond James is extending its presence in South Florida as it welcomes a new team to its employee advisor channel. The Behar-Nagel Group, led by financial advisors David Behar and David Nagel, has officially joined Raymond James Associates in its Hallandale Beach office.

Cardano’s price has climbed 4.1% overnight off the back of a hefty $600 million 24-hour trading volume, according to data by CoinGecko. ADA trades at $0.6038 as of this writing.

Indians planning their summer travel to Europe may have to face lesser waiting period at visa centres this year as visa services provider VFS Global expects an improvement in visa processing time for foreign destinations on the back of deployment of additional staff by client governments to handle the visa applications traffic. "The Swiss have given us 25% more appointments. Also, earlier, their appointments would be concentrated in 2-3 months, now they have spread the appointments across the entire year.

India on Thursday said it has rejected the demand of the four European nations EFTA bloc for inclusion of a 'data exclusivity' provision in proposed free trade agreements, stating that it always protects the interests of the domestic generic drugs industry. Commerce Secretary Sunil Barthwal said there is no Free Trade Agreement (FTA) in which India will go against the generic drug industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The bloc is negotiating a trade agreement with India. «They want that there should be data exclusivity, we rejected their demand. We are with our generic industry.

Mint. However, a pick up in the purchase of gold is expected during the second half of the year, as good monsoons are likely to see a spurt in the demand for the yellow metal and as consumers adjust to higher prices, Somasundaram said. "There is going to be a spurt in demand for gold after general elections, as people will have more money in hand," he added.

By Pablo Mayo Cerqueiro, Andres Gonzalez and Oliver Hirt

By Joice Alves

Airbnb says that it lost $349 million in the fourth quarter because of an income tax settlement with Italy

Yes Bank is set to recover about half of its dues from Katerra India by selling loans of the company undergoing corporate insolvency. Prudent ARC on Monday matched a counter-offer by Asset Reconstruction of India (Arcil) for Katerra India at a Swiss challenge auction held by Yes Bank, said people with knowledge of the matter.

The recent US SEC-approved Bitcoin ETFs collectively netted $1.1 billion in inflows last week, according to a new report by European crypto asset manager CoinShares.

The GBP/USD edged higher in reaction to the firmer wages and jobs data from the UK earlier this morning, ahead of the release of even more top-tier data from both sides of the pond.

BaFin, Germany’s financial regulator, has issued four licenses to Crypto Finance, a firm operated by leading stock exchange Deutsche Börse.

Switzerland’s main Jewish organization has denounced an antisemitic sign put up at a local ski shop near Davos, barring Jews from renting equipment from the store

Lufthansa flight LH773 from Bangkok to Munich. Reports indicate that the man coughed up blood during the flight. According to a report by the Independent, the flight scheduled to depart Bangkok for Munich at 11:40 pm on Thursday, February 8, had to return to the airport after approximately 90 minutes in the air due to the passenger's condition.