Swiss Financial News

In a statement, Angehrn cited the “high and permanent stress” that came with the role, which he said had led to health consequences.

Crypto-friendly Swiss-based SEBA Bank has successfully obtained an approval-in-principle (AIP) from the Securities and Futures Commission (SFC) in Hong Kong, bringing it one step closer to offering crypto services in the region.

Iran has summoned a Swiss diplomat over the apparent U.S. seizure of Iranian crude oil from a ship that sat for months off Texas

Switzerland’s financial markets authority says an in-depth review of more than 30 banks conducted this spring found that “a large number” failed to meet basic requirements for analyzing the risk of money laundering

Indian Bank is likely to launch a second Swiss challenge auction for the distressed Dharani Sugars and Chemicals account after a change in the deal structure for transferring the loan account to the National Asset Reconstruction Company (NARCL). The change in the deal structure was necessitated after the government refused to recognise the proposal by the bad loan aggregator earlier because it had envisioned the creation of two trusts, one of which would exclusively deal with SBI's claims, two people aware of the developments said. The new proposed structure envisages the creation of a single trust which will house the security receipts (SRs) of the account. Unlike previously, SBI's priority charge on some recoveries from the accounts will now be adjusted from the overall recoveries from the SRs whenever they are redeemed, people familiar with the changes said. «SBI will not get a separate trust for the priority charge they hold but from whatever recoveries happen, SBI will get a higher share since the bank has special charge on some anticipated cash flows of the company,» said one of the persons aware of the process. Lead lender Indian Bank and NARCL did not reply to separate emails seeking comment till press time Wednesday. The second Swiss auction comes almost six months after NARCL gave a binding offer of ₹222.5 crore in early March.

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.

Switzerland’s government has lined up with the European Union’s 11th round of sanctions against Russia over its war in Ukraine

UBS says it has shut down rescue packages agreed with Swiss authorities that made available up to 200 billion Swiss francs (about $230 billion) to help shepherd through its takeover of ailing rival Credit Suisse and avert an international banking crisis

The loss protection deal marked the final step in UBS' takeover of Credit Suisse, which was completed on 12 June.

UBS on Friday said that it has ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc public liquidity backstop that were put in place by the Swiss government when it took over rival Credit Suisse in March.

From bill-splitting apps to solutions for urban parking, the Swiss City of Lugano and Tether's second annual Plan ₿ Summer School showcased the transformative potential of blockchain over the past 10 days. The event, which wrapped up yesterday, saw around 80 students from 28 countries dive deep into the blockchain and digital currencies.

The 64-year-old designer is reinventing the Swiss traditional art of paper cutting, which typically shows Alpine landscapes and cows heading to mountain pastures, by infusing a large dose of poetry and modernity. Dubuis, a florist by training, told AFP that she has devoted herself to paper cutting since childhood and now spends around six hours a day on her passion. At her home studio in Chateau d'Oex, in the Pays-d'Enhaut area where the Swiss tradition was born around 200 years ago, she showed off her craft, using scissors or a cutter to carve out intricate scenes inspired by the surrounding woods and the people she meets. The works, either in black and white or in colour, have been shown in Switzerland, France, Germany and Japan.

Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time as climate change contributes to the frequency and severity of violent me...

responsAbility Investments AG signed a $15 million funding deal with non-bank lender Electronica Finance to promote green financing in India in line with its sustainability goal, two people aware of the development said. The Pune-headquartered non-banking finance company, which is a part of the SRP Electronica group, would use the funding for financing energy efficient machines and promoting rooftop solar installation, managing director Shilpa Pophale told ET.

Indian tourists, but also tourists from China. tour operators in India had also been disappointed by the news considering Schengen Visa and Switzerland tour form their most profitable ventures.

Indian tourists. Commenting on the matter, the Head of Markets East at Switzerland Tourism, Simon Bosshart said, as cited by SchengenVisaInfo, he is aware of the problem.

Glencore, one of the largest coal miners in NSW, is urging the state not to hike coal mining levies in a “revenue grab”, as the Minns government mulls following Queensland’s lead on higher coal royalties.

Matterhorn mountain, precisely on Theodul Glacier in Zermatt. Through a meticulous forensic analysis, the remains were conclusively matched to the DNA of a German climber reported missing 37 years ago, affirming the climber's identity beyond any doubt. The climber, a 38-year-old German national, had initiated a trek up Matterhorn in September 1986, setting off a search and rescue mission that yielded no results.

New Zealand and Switzerland played out an underwhelming 0-0 stalemate in the Women's World Cup on Sunday, sending the co-hosts out of the tournament on goal difference and the Europeans through to the last 16 as Group A winners. Norway's 6-0 thrashing of the Philippines in the other group game in Auckland put them level on four points with New Zealand but second on goal difference.

₹933 crore) in the January to June period from 81.2 million francs a year earlier, showed data from the Federation of the Swiss Watch Industry. Imports surged 67% from 59.1 million francs in the six months of 2021. Notably, a significant portion of the 2023 imports of 20 million Swiss francs, was seen in June alone, indicating a robust demand for luxury timepieces.

While Casper Ruud holds the distinction of being the two-time defending champion, he has made the decision to participate in the Swedish Open instead. As for this edition, Roberto Bautista Agut takes the lead as the top seed. The field also features other prominent players, including Viktor Axelsen, Lee Zii Jia, and Chou Tien-chen.