Switzerland's foreign trade surplus increased in May, as exports grew faster than imports, figures from the Federal Customs Administration showed Thursday. The trade surplus climbed to CHF 3.4 billion in May from CHF 1.9 billion in April. In March, the surplus was EUR 3.0 billion.
Online pharmacy Zur Rose Group plans to raise up to around 230 million Swiss francs ($236.6 million) in an initial share sale, the Swiss company said on Thursday, with the cash to help grow operations including its DocMorris unit in Germany. The IPO, with a price range of 120 francs to 140 francs per share, would value the company at between 780 million francs and 870 million francs, Zur Rose said.
Angola’s capital Luanda has overtaken Hong Kong to become the costliest city in the world for expats, Mercer’s annual survey said Wednesday. According to Mercer’s 23rd annual Cost of Living Survey, Luanda was the costliest city, driven by cost of goods and security, followed by Hong Kong and Tokyo at the second and third places, respectively. Others in the top 10 include Zurich at the 4th place, Singapore (5th), Seoul (6th), Geneva (7th), Shanghai (8th), New York City (9th), and Bern (10th).
Uber CEO and co-founder Travis Kalanick tells The New York Times that he has resigned. Kalanick, who just last week announced he was taking an indefinite leave from the company he co-founded, was forced out after investors decided the company needed a change in leadership, according to a letter sent to Kalanick and obtained by the Times. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement given to the Times.
MSCI announced it would add China A-shares to its MSCI Emerging Markets Index after rejecting China's previous three attempts. MSCI plans to add 222 Chinese shares to its Emerging Markets Index, with an initial weighting of 0.73 percent. The full inclusion of domestic Chinese stocks in the widely tracked MSCI Emerging Markets Index could pull more than $400 billion of funds from asset managers, pension funds and insurers into mainland China's equity markets over the next decade, according to analysts.
From the growth point of view, Brexit can affect the economy in two ways. In the near term, uncertainty from Brexit and rising inflation from the reduction in Sterling trade since the vote could cause a modest demand-side shock. But that effect has been much smaller than expected. In fact, the economy has outperformed the non-Brexit scenarios. Of course, we do not know how the economy would have performed had the UK not voted to leave. That seems to be an absence of the short-term demand-side shock. I am confident that the UK can continue to enjoy a broad-base expansion over the next couple of years. I see probably 2% real GDP growth this year followed by 1.7% next year.
An upgrade to a Swiss supercomputer has bumped the US Department of Energy's Cray XK7 to number four on the list rating these machines. According to supercomputer ranking published on Monday, Switzerland’s 19.6 petaflop1 Piz Daint supercomputer ranked third in the world after Sunway TaihuLight and Tianhe 2, two Chinese supercomputers. The only other time the US fell out of the top three was in 1996. If there’s any consolation, U.S.-based systems secured five of the top ten spots on the TOP500 list.
To bar kids from being addicted to the smartphones, a group in the US state of Colorado has sought ban on sale of the device to those below the age of 13. Tim Farnum, founder of the non-profit group Parents Against Underage Smartphones, or PAUS, is leading the charge on a proposed ballot initiative in Colorado that would be the first of its kind in the country, the USA Today reported on Monday. With around 80 percent of Americans now owning a device, the number of under 13s that have their own handset is also on the rise.
Now is not the time to raise interest rates, Bank of England Governor Mark Carney said on Tuesday, warning that already weak wage growth risked a further loss of momentum as Britain prepares to leave the European Union. In a speech to London's banking community a day after Brexit talks started, Carney dashed any prospect that he might be close to joining the three BoE policymakers who last week unexpectedly voted to raise rates from their record low of 0.25 per cent.
Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th
Lo Shipbrokers and Shipagents Dinner è uno degli eventi più importanti nel panorama mondiale della
Within the framework of this presentation, Viktor Pershikov, MFTA, (a leading technical analyst in R
One of the biggest conferences in Switzerland, which brings together the private equity, venture cap
Within the framework of this presentation, Viktor Pershikov, MFTA (a leading technical analyst in Ru
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