China’s central bank, the People’s Bank of China (PBoC), is working on a prototype of a cryptocurrency that it could end up in circulation in the near future. Hovewer, there is currently no timetable for this, and the bank seems to be proceeding cautiously. It would be introduced alongside the China’s primary currency the renminbi. China will be simulating possible scenarios and running mock transactions using the cryptocurrency with some commercial Chinese banks.
Nike, the world's largest footwear maker, said on Thursday it would launch a pilot program with Amazon.com to sell a limited product assortment on its website. In a call with analysts Thursday, Nike CEO Mark Parker said that Amazon would carry "a limited Nike product assortment" of footwear, apparel, and accessories, and that Nike was seeking to improve its presence on the e-commerce site. "We're in the early stages, but we really look forward to evaluating the results of the pilot," Mr. Parker said.
Greek and Turkish Cypriot leaders restarted negotiations on Wednesday for the island’s reunification. Cyprus is divided for the last 43 years, following an invasion by Turkey in 1974, triggered by a coup backed by the Greek Colonel’s regime. Greek Cypriot leader Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci met in the Swiss Alpine resort of Crans-Montana, joined by senior U.N. and European Union officials and the foreign ministers of Greece and Turkey. The conference brings all the main players to the table – including representatives from Cyprus’ guarantor powers, Greece, Turkey and Britain – in what is being billed as an arena “for big and lasting decisions”.
Monaco, the home of the Grand Prix, was by far and away the leader of cities with millionaires as some 30.6% of people living in the city have a net worth over $1m, according to Business analysis service Verdict and GlobalData WealthInsight. The study calculated millionaire density based on the percentage of residents with assets over $1m, excluding the value of the first home. Geneva and Zurich ranked in second and third, but density was well under that of Monaco’s, with 6% and 5.2% respectively. They fell significantly on the previous year, however, when Geneva had 17.7% density and Zurich has 24.3%.
Trinidad & Tobago is the last remaining tax haven in the world, according to Organisation for Economic Co-operation and Development (OECD). The Paris-based body said the caribbean state is the sole "non-compliant" tax jurisdiction of a list of 15 regions it has complied, a statement many will view as controversial. It said that compared to last year, 13 jurisdictions have now become "largely compliant". Precisely, they are: Andorra, Antigua and Barbuda, Costa Rica, Dominica, the Dominican Republic, Guatemala, the Federated States of Micronesia, Lebanon, Nauru, Panama, Samoa, the United Arab Emirates and Vanuatu. According to the report, the Marshall Islands are "partially compliant".
The European Union faces a 20-billion-euro hole in its annual budget due to Britain’s withdrawal and rising costs in issues such as defense, EU Budget Commissioner Guenther Oettinger said Wednesday. Oettinger warned that the U.K.’s departure, expected in 2019, will blow a hole of €9 billion to €12 billion in the EU’s roughly €150 billion annual budget. “We won’t have the UK with us any more, but they were net payers despite the Thatcher rebate, so we will have a gap of 10 to 11 billion euros a year,” Oettinger told a press conference as he unveiled the commission’s proposals for the budget.
This Newsletter has predicted a stock market correction at the least if not a crash in the near future and favors gold as an investment. What has happened is that the FAANG stocks continue to ride high while the rest of the market generally limps along. The gold price suffers a setback every time it strikes northwards. If that was not enough to make one suspicious, inflation remains low despite huge injections of capital into the economy.
Talks about a new treaty governing the European Union’s relationship with Switzerland have collapsed over the same issue bedevilling Brexit — the European Court of Justice. Switzerland, which is not a member of the EU, has more than 100 bilateral agreements with Brussels overseeing ties including transport, trade and education, but the EU is demanding a single framework treaty. A new treaty could clear the way for closer ties in fields including financial services and power markets, but fear that any deal might upset Swiss voters under the country's system of direct democracy has put the project on hold.
There is a new breed of bond in the fixed income world. It’s different, it’s bold, it’s the so-called green bond market. As the drive towards environmental, social and governance (ESG) investing continues to gather pace, policy makers and investors alike are waking up to the importance – and benefits – of green bond investing.
A measure of Swiss household spending trends rose modestly in May, after the reading for the previous month was revised down sharply, suggesting slightly below-average growth in private consumption during the second quarter, survey data from the UBS investment bank showed Wednesday. The UBS consumption indicator climbed to 1.39 points from 1.34 in April, which was revised from 1.48. This matches the UBS CIO consumption growth forecast of 1.3 percent for this year, the bank said.
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor
Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor
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