Switzerland Financial News

Germany plans to ease rules for obtaining its citizenship under legislation approved by the Cabinet

CEO of Liontrust John Ions (pictured) has been accused of spreading 'misleading information' over investor views of NewGAMe

The latest FTSE quarterly reshuffle may not see any asset managers or investment companies join the UK’s blue chip index.

Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S.

sting operation at a London hotel helped authorities recover a 15th-century Chinese vase worth about 2 million pounds ($2.5 million) and break up the criminal ring believed to have stolen the artifact from a Swiss museum, British police said Saturday. The vase, which dates to the Yongle period of the Ming Dynasty, was one of three items stolen from the Museum of Far Eastern Art in Geneva in 2019. The Metropolitan Police Service made the announcement after a London court on Friday found two men guilty of charges related to the gang's effort to sell the vase. A third man pleaded guilty to similar charges earlier this year, and two other men who were arrested in London are awaiting trial in Switzerland for their alleged role in the burglary.

UBS equity capital markets banker Richard Wilks has been named head of equity capital market syndicate for Asia Pacific, Street Talk understands.

₹900 crore from the primary market and has filed preliminary papers for its maiden public issue. The Vadodara-based Shiva Pharmachem has filed its Draft Red Herring prospectus (DRHP) with capital market regulator Securities & Exchange Board of India (SEBI) for an initial public offering (IPO). Shiva Pharmachem IPO is entirely an offer for sale (OFS) of up to ₹900 crore by the promoter and promoter group shareholders.

Seven people were left injured when an attraction at Germany’s biggest theme park came tumbling down last week, police said.

Omkara ARC has acquired ₹784-crore loan outstanding from PNB Housing Finance of Joyous Housing Limited. The transaction happened at par and helped the mortgage lender in resolving a significant non-performing asset. Omkara ARC bought the account in an all-cash deal, said two people aware of the development. PNB Housing Finance had announced the successful resolution of its large corporate non-performing account (NPA) account valued at ₹784 crore, which constituted around 1.3% of the loan asset as of June 30, 2023, according to a stock exchange announcement.

DRHP) with capital market regulator Sebi to raise funds through an initial public offering (IPO). The IPO with a face value of ₹2 each is entirely an offer for sale (OFS) of up to ₹900 crore by the promoter and promoter group shareholders. The OFS comprises of sale of shares of up to ₹383 crore by Vishal Rakesh Agrawal, up to ₹383 crore by Rahul Rakesh Agrawal, and up to ₹134 crore by Geetganga Investment Private Limited. The offer is being made through the book building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, 15% for allocation to non-institutional bidders and 35% shall be available for allocation to retail individual bidders. Founded in 1999, Shiva Pharmachem, is led by its founders Rakesh Agrawal, non-executive chairman, Vishal Agrawal, MD, and Rahul Agrawal, non-executive director. As of FY23, it serves over 181 multinational and domestic companies across 22 countries. Its prominent markets include Germany, the US, Switzerland, Italy, and Mexico.JM Financial and Kotak Mahindra Capital are the book running lead managers and Link Intime India is the registrar to the offer.

Digital asset investment products saw $55 million in outflows for the week of September 13-19, according to a report from CoinShares. 

Royal Bank of Canada hired Credit Suisse Group AG banker Tim Perry, people with knowledge of the matter said.

PNB Housing Finance share price jumped more than 8% on Monday after the company announced the recovery of ₹784 crore worth of corporate non-performing account. PNB Housing Finance shares rallied as much as 8.4% to ₹688.10 apiece on the BSE. PNB Housing Finance through its focused and multi-pronged resolution strategy has successfully resolved and fully recovered its large corporate Non-Performing account of ₹784 crore, which is 1.3% of loan asset as on 30th June 2023, the company said in a regulatory filing on Saturday.

Federal Reserve's Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears. The dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer.

₹230 crore from a single trust in the Security Receipts Portfolio. The Bank in a regulatory filing said," This is with reference to our earlier disclosure pertaining to Sale of NPA Portfolio to JC Flowers ARC on December 17, 2022.

transgender women from official women's events. The Switzerland-based federation FIDE said the decision, set to take place Monday, would stay in effect until the federation does an assessment of the issue. Critics, including advocacy groups and some European players and federations, have derided what they call an unnecessary and discriminatory policy that appears to foster «trans panic,» with one former British women's champion calling for the world federation to reverse its decision.

Punjab National Bank (PNB) Housing Finance has resolved and fully recovered a corporate non-performing account (NPA) of ₹784 crore on August 19. The account was resolved today through an asset reconstruction company (ARC) sale under the Swiss Challenge method, according to CNBC-TV18.

By Amy-Jo Crowley, Emma-Victoria Farr and Milana Vinn

RBC Wealth Management said Friday that it had hired a substantial practice in Atlanta, the ESOP Group, with close to $5.5 billion in client assets, fromUBS.

Reliance Industries: Jio Financial Services is being removed from several FTSE Indices for failing to commence trading after 20 business days. A notice shared by FTSE Russell said that the company had also not announced a firm trading date since its inclusion on July 20. The omission will come into effect from August 22.

Vidarbha Industries Power and deposited the ₹1,265-crore bid price, representing 49% recovery for the lenders. Vidarbha Industries is a subsidiary of Anil Ambani's Reliance Power.