Switzerland Financial News

Palestinian lives and properties by Israel backed by the US, Iran sprung a surprise by launching missile and drone attacks in its neighbourhood. The Iranian strikes against, what it claimed to be, a «Mossad-affiliated spy base» in Erbil (Iraq) and a «terrorist-affiliated» headquarter in Idlib (Syria) were followed by similar attacks against «terrorists» of Jaish al Adl in Balochistan (Pakistan) on January 16-17.

Vienna, Jan 19, 2024 -The Swiss watch that got Hollywood star Arnold Schwarzenegger in trouble with German custom officials has been sold for 270,000 euros ($290,000), the actor's charity said Friday. The action hero-turned-environmental campaigner was held at Munich airport Wednesday for failing to declare the bespoke Audemars Piguet timepiece that was being auctioned for his climate charity. Schwarzenegger called his brush with the law a «wild experience» at the charity dinner Thursday where the watch was auctioned, cracking raunchy jokes about a female official who he said «was going to put me in handcuffs», according to a video posted on entertainment website TMZ. «Usually I pay $500 for that,» said the 76-year-old actor, a former governor of California. Schwarzenegger was held for three hours, according to the German media, before being allowed to take the watch to the dinner. The fundraiser for his Schwarzenegger Climate Initiative was held across the border in his native Austria in the Alpine resort of Kitzbuehel, with US climate envoy John Kerry said to be among the guests. «The world's most famous watch was auctioned off for 270,000 euros,» the charity said Friday. «Arnold Schwarzenegger's customs adventure had a happy ending,» it added. Duty should have been paid on the watch because Schwarzenegger was intending to sell it in the European Union, German customs spokesman Thomas Meister said.

Georgia Gov. Brian Kemp is telling world business leaders that the state must increase its supply of electricity produced without burning fossil fuels to meet industries’ demand for clean energy

ZURICH (Reuters) — Swiss engineering group ABB (ST:ABB)'s operations in China are being scrutinised by two U.S. Congress committees dedicated to investigating security threats and risks posed by Beijing, documents showed on Friday.

BANGKOK (Reuters) — Thai Prime Minister Srettha Thavisin said on Friday his government will move ahead with its flagship $14.3-billion 'digital wallet' handout scheme, though it may be delayed.

Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation.Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central bankers ought to adapt their approaches for the modern economy.He said the current regime has been successful so far in taming the ongoing inflationary period, as some of the supply shocks following the height of the COVID-19 pandemic and Russia’s invasion of Ukraine have unwound and higher interest rates globally have limited demand in the world economy.But he warned that central bankers cannot rest on their laurels amid ongoing geopolitical tensions and a changing economic context.“We are in a world, I would suggest, where we are going to see additional supply shocks with some relatively high degree of certainty with some persistence,” Carney said.“Effectively, the world is being rewired.”Though Carney did not directly reference Houthi attacks in the Red Sea forcing companies to divert cargo away from the key shipping corridor, he said trade routes are being “rewired” to “derisk” global supply chains.Energy systems, too, are being rewired to address climate change concerns, Carney said.

The mood of the global elite meeting in Davos, Switzerland, is a useful indicator for investors—as long as they do the opposite. When the elite are depressed, buy. When they’re positive, sell.

Arnold Schwarzenegger was stopped for hours by customs at Munich Airport after entering Germany with a luxury watch that was potentially to be auctioned at a charity event

Artificial intelligence is easily the biggest buzzword for world leaders and corporate bosses diving into big ideas at the World Economic Forum’s glitzy annual meeting in Davos

Israel’s president says normalizing ties between Israel and Saudi Arabia would be a key element of ending the war with Hamas and a game-changer for the entire Middle East

By Shristi Achar A and Shashwat Chauhan

In this article

Royal Bank of Canada’s Chief Executive Dave McKay is eyeing expansion in the US market through the bank’s capital markets franchise. 

Deutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the future of domestic rival Commerzbank.

Political risk in the U.K. is «far less than it's ever been» as the difference between the ruling Conservative Party and main opposition Labour on economic policy is «fairly minimal,» Barclays CEO C.S. Venkatakrishnan said Thursday.

The world’s biggest talk show is on: the World Economic Forum’s (WEF) 54th Annual Meeting at Davos began this Monday and ends on Friday. As in the past, this year too, the WEF conclave in the Swiss skiing resort, where they have been held for half a century, is being attended by a veritable who’s-who of business, politics and media.

diplomats of Iran and the United States sit down for public — and separate — one-on-one chats while the U.N. chief and leaders of France, Argentina and Spain will deliver speeches as the World Economic Forum's annual meeting saunters into a busy second day on Wednesday. The elite gathering in the Swiss ski resort of Davos takes a turn toward the environmental and climate concerns that have animated plea after plea from U.N. Secretary-General Antonio Guterres for the world to come together do take more united action against global warming — after a record-hot year in 2023.

By Megan Davies

There’s plenty of money to be made by investing in the green energy transition, and financial professionals who say otherwise aren’t paying attention to the facts, according to Brookfield Asset Management Ltd. chair Mark Carney.

Ukraine has won praise for stabilizing its economy under dire circumstances

European Central Bank head Christine Lagarde says cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy