Switzerland Financial News

Switzerland and Liechtenstein’s crypto projects value surged by 107% year-over-year to $382.93 billion, led by Ethereum, amidst broader market recovery and innovation.

By Noele Illien and Sinead Cruise

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DAVOS, Switzerland (Reuters) — Argentina's President Javier Milei will meet British foreign minister David Cameron and IMF chief Kristalina Georgieva on his trip to Davos, where he is expected to pitch his ultra-liberal government programme in a special address later on Wednesday.

By Dmitry Zhdannikov

The new artificial intelligence era represents a huge moment for the tech industry that has not been seen in a decade, according to a top executive at Facebook parent company Meta Platforms.

By Jacob Gronholt-Pedersen

UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank's balance sheet are getting «indoctrinated» by academics and should «do their homework.»

Davos: Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition, its Oil Minister Hardeep Singh Puri said. "Whenever there is vulnerability and uncertainty in the market, the transition gets accelerated.

Ayodhya has become a topic of discussion at the World Economic Forum Annual Meeting in Davos. Devotees are planning to hold Ram Bhajans and light diyas on the consecration day, which is scheduled for Monday.

Mark Hawtin (pictured) joins Liontrust

Hardeep Singh Puri said. «Whenever there is vulnerability and uncertainty in the market, the transition gets accelerated. No-one is looking at that», Puri told Reuters in an interview at this week's World Economic Forum in the Swiss ski resort of Davos, referring to attacks by the Houthis on ships in the Red Sea. Puri said that while OPEC+ nations have a right to decide on their energy production, supply cuts against such uncertainty, and the resulting adverse impact on global prices, will dent long term demand. It is «imperative» for India to accelerate its transition to green energy in this scenario, he added. Iraq followed Saudi Arabia in charging a premium for oil supplies to Asian markets which made their crude «more expensive than crude sourced elsewhere», the minister said, noting India is now buying from 37 countries up from 29 earlier.

oil markets will cope with Red Sea disruptions in the short run, although prolonged attacks by the Houthis on ships would lead to a shortage of tankers due to longer voyages and a supply delay, the CEO of Saudi oil giant Aramco said. Amin Nasser told Reuters he expected the oil market to tighten after consumers depleted stocks by 400 million barrels in the last two years, which left OPEC's spare capacity as the main source of additional supply to meet rising demand. Attacks by the Houthis on ships in the Red Sea have forced many companies to divert cargoes around Africa. The Iran-aligned Houthis say they are acting in solidarity with Palestinians during Israel's ongoing war with Gaza. «If it's in the short term, tankers might be available… But if it's longer term, it might be a problem,» Nasser said in an interview on the sidelines of this week's World Economic Forum in the Swiss ski resort of Davos. «There will be a need for more tankers and are they going to have to take a longer journey». Container vessels have been pausing or diverting from the Red Sea that leads to the Suez Canal, the fastest route from Asia to Europe, where about 12% of world shipping passes.

Business Today. “There is no such thinking to move towards de-dollarisation... The dollar will continue to be the dominant currency", Shaktikanta Das added.

Ripple CEO Brad Garlinghouse has revealed that the company explored IPO options outside the United States, attributing this decision to a challenging relationship with the U.S. Securities and Exchange Commission (SEC).

Disease X, a hypothetical illness with the potential for 20 times more fatalities than the COVID-19 pandemic, will be the focal point of a panel discussion in Davos, Switzerland, on Wednesday, where international leaders will gather to deliberate on the potential looming threat.

DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out by the board was «wild,» and he felt «super confused» and was «super caught off guard.»

geopolitics and artificial intelligence as more leaders from around the globe assembled at the snow-clad Swiss resort to discuss challenges and crises facing the world. On the second day, Ukraine President Volodymyr Zelenskyy and Chinese Premier Li Qiang stole the limelight, while Donald Trump was another talk of the town subject for his resounding victory in Iowa caucuses and the prospect of him returning to the White House.

GDP growth.” That was the marketing blitz India took to Davos in 2006. The idea was not so much to woo the West overnight as to wean it away from its fascination with China, whose gross domestic product back then was expanding at double-digit rates. Eighteen years later, India is hosting a second coming-of-age party this week at the World Economic Forum in the Swiss Alpine town, though in vastly changed circumstances. For one thing, the most-populous nation no longer needs qualifiers like “the world’s fastest-growing free-market democracy” to highlight its exceptionalism — at 7.3%, it’s expanding quicker than any other major economy. Nor does New Delhi need to apologize for frequent political change.

Li Qiang said in Davos, Switzerland. “Last year in 2023, the Chinese economy rebounded and moved upward with an estimated growth of around 5.2%, higher than the ‘around 5%’ target set at the beginning of last year," Li said on Tuesday in his first appearance as China’s No. 2 official at the annual World Economic Forum.

Ripple CEO Brad Garlinghouse took shots at the United States Securities and Exchange Commission Chair (SEC), Gary Gensler, during an appearance at the World Economic Forum in Davos, Switzerland.