The Swiss luxury giant Richemont has opened a research and innovation center in Microcity, Switzerland’s well-known think tank and laboratory. The Richemont’s group research and innovation director, Edouard Mignon, said the partnership was intended to supplement the research and development teams of the brands, promote sharing among companies, “and serve as an innovation incubator for the group as a whole, to develop mechanical specialties and, for example, to imagine new materials.”
Swisscom is establishing a new blockchain unit to develop applications, including for possible solutions to enable off-exchange trading, the Swiss government-owned phone company said on Thursday. The Swiss company, according to new reports, has established "Swisscom Blockchain AG" to focus on a range of services around the tech. These include enterprise-facing solutions as well as support for companies looking to launch initial coin offerings (ICOs).
Logistics company Matternet has announced a permanent autonomous drone network in Switzerland that will now see lab samples like blood tests and other diagnostics flown between hospital facilities, clinics, and labs. The first delivery network will be operational from next month, with several more to be introduced later in the year. Matternet says medical items can be delivered to hospitals within 30 minutes.
The founder of the world's largest hedge fund he believes that there's a bubble in the bitcoin market. Ray Dalio is the founder of Bridgewater Associates, which according to recent rankings is the biggest hedge fund by total assets under management. Per its website, Bridgewater manages around $160 billion in assets.
For the first time, scientists have put a figure on their important work transporting pollen between flowering plants. Experts at the government's agriculture research centre, Agrosope, have calculated that the work of Swiss bees is worth CHF350 million ($365 million) annually.
The State Secretariat for International Financial Matters (SIF) under the Swiss Federal Department of Finance and the Hong Kong Monetary Authority (HKMA) launched on Tuesday in Bern a financial dialogue to promote co-operation on financial market issues of common interest. At the margin of the Dialogue, the Swiss Bankers Association (SBA) and the HKMA facilitated an open seminar for the private sector.
Deutsche Bank analysts have warned China could be at the centre of the next financial crisis. Research by the bank’s strategists Jim Reid, Nick Burns, Sukanto Chanda and Craig Nicol found China still needs to reposition its economy "from manufacturing to services and investment to consumption.”
Established to manage Norway's oil revenues, the country's sovereign wealth fund surpassed the $1-trillion (1.8-trillion-euro) mark on Tuesday thanks to the recent appreciation of the world's major currencies against the US dollar and rising stock markets across the world. This amount equals nearly $189,000 (€157,000) for each of the 5.3 million people living in Norway. Established in the 1990s to manage the Norwegian state's oil revenues, the fund set the record thanks to the appreciation of the world's major currencies against the dollar and a good stock market health.
FINMA, Switzerland’s Financial Market Supervisory Authority, has shut down a cryptocurrency racket as part of its latest efforts to tackle digital currency fraud. Per its latest edict, FINMA’s victim was a fake cryptocurrency provider. It is at the same time pursuing as many as twelve other cases amidst an uptick of fraud in the country. The action came less than a week after China unveiled its own harsh measures. In addition to a blanket ban on ICOs, China-based cryptocurrency exchanges must stop trading and notify users of their closure by month’s end.
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