News

20.12.2017

Global disaster costs impacted on 2017 insured loss

Total economic losses from natural and man-made disasters rose sharply in 2017 partly due to hurricanes and wildfires, Swiss Re AG said Wednesday, with insured losses for the industry more than doubling. Swiss Re estimates that total economic losses reached $306 billion in 2017, a 63% increase over 2016, based on Swiss Re's preliminary data. Global insured losses from catastrophes in 2017 are estimated to be $136 billion, the company says, the third-highest on the company's records. The 2017 figure compares with $65 billion the prior year and is well above the ten-year average of $58 billion.

 
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20.12.2017

Bitcoin's energy consumption could ben the real problem for Nature

The exploding price of the cryptocurrency, bitcoin, in recent months has triggered doubts not only about the financial sustainability of the rally, but also about the environmental sustainability of the currency itself. One alarmist article in Newsweek said that bitcoin computer operations could consume "all of the world's energy by 2020". The website Digiconomist claims that bitcoin operations use as much energy as Denmark, or enough to power 3,071,823 US households.

 
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20.12.2017

UBS boss warned about Bitcoin's dilemma

The chairman of Swiss banking giant UBS said in an interview published Sunday that he does not consider the soaring cryptocurrency bitcoin as money and called for regulators to intervene. "In my opinion, bitcoins are not money," Axel Weber, chairman of Swiss financial giant UBS, said in an interview to Swiss news agency NZZ am Sonntag on Sunday.

 
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19.12.2017

The Fed Does It Again

As the Fed continues with its announced policy of raising rates, it will be easier to find good buys in the secondary market as earlier issues will have lower prices in order to reflect the higher interest rates of new issues.

 
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19.12.2017

Exchanges and the companies quoted on them – surely it’s different this time?

Forecasting is more difficult than ever, given the rapid advances in technology. Before we anchor to today’s successes, we should bear in mind the lessons of history.

 
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19.12.2017

Looking for a job in 2018? Taiwan is your destination

Looking ahead to the beginning of 2018, it seems that employers in industries across the board are expecting to add jobs, with certain sectors more likely to hire than others. The global economy will probably expand this year by 2.7%, the World Bank says. Assuming the growth lives on into 2018, a healthy share of the world’s employers plan to step up hiring in the first three months of the year, American recruiting firm ManpowerGroup found in surveys released last week.

 
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19.12.2017

Bitcoin's mysterious creator is among the world's richest people

Progressive cryptocurrency, Bitcoin, is arguably one of the greatest financial phenomenons. However, there is great uncertainty over who created it and what their net worth is.  All that is known about the founder of this progressive financial phenomenon is the name, Satoshi Nakamoto. Beyond this, nothing further is known. Yet, in 2016, Australian entrepreneur Craig Wright claimed that he is Nakamoto. The truth of the matter remains a mystery. 

 
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19.12.2017

1MDB scandal is not over: Singapore bans two more people involved in the case

Singapore banned two more financial professionals over breaches related to 1Malaysia Development Bhd., taking to eight the number of prohibitions handed down by the city in connection with the troubled state investment fund, Blooomberg reported on Tuesday. The Monetary Authority of Singapore issued a lifetime prohibition order on former private banker Yeo Jiawei and placed a three-year ban on Kevin Scully, the former chief executive officer of NRA Capital Pte, it said Tuesday.

 
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18.12.2017

Swiss pension fund: younger will suffer for lower retirement benefits

A 25-year old in Switzerland today would be set for a corporate workplace pension five percentage points lower than that of a compatriot only a few years older, according to a study by Willis Towers Watson. The consultancy’s Swiss arm regularly carries out a benchmarking study of the pension plans of companies making up the Swiss Leaders Index (SLI). This comprises the issuers of the 30 largest and most liquid securities in the Swiss equity market. Companies such as ABB, Julius Baer and Nestlé are currently in the index.

 
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18.12.2017

Switzerland ranked first in Global Knowledge Index

The Global Knowledge Index is based on a combination of six sectoral indices including preuniversity education; technical vocational education and training (TVET); higher education; information and communications technology; research, development and innovation (RDI); and, finally, economy, in addition to a general sub-index on the general enabling environment.

 
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