News

15.11.2016

BSI: EFG completed the takeover in Singapore

EFG International has completed the integration of BSI in Singapore, included client relationships and employees, as it referred in a statement today. EFG International announced its intention to acquire Swiss-based BSI before the scandal surrounding 1MDB caught the public's eye.

 
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14.11.2016

Ascent autumn 2016 is now out! (by Degroof Petercam)

Nowadays, most investors acknowledge that listed real estate has deserved its status as a separate asset class or at least that it has a right of existence in a diversified portfolio. Index providers as well, recognize the specific nature of this asset class. Only recently, the Global Industry Classification Standard (GICS) introduced real estate as a separate sector based on its growing importance in the world’s equity market and its role as a foundational building block of a modern portfolio, rather than an alternative.  

 
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14.11.2016

KTM, successful debut on the SIX Swiss Exchange

The shares of KTM Industries AG, the Austrian vehicle group, were primary listed today under the “International Reporting Standard” on SIX Swiss Exchange and traded for the first time. The opening price on SIX Swiss Exchange was CHF 4.90. Based on this price, the market capitalization of the listed shares amounts to CHF 1,104 billion. The issued share capital of KTM Industries comprises 225.386.742 no-par-value ordinary bearer shares. A public offering of the company’s securities has not taken place.

 
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14.11.2016

Samsung to buy car tech company Harman for $8 billion

Samsung Electronics announced an $8 billion deal on Monday to buy Harman International Industries, in an all-cash deal that makes Samsung a major player in the world of automotive technology. The electronics giant previously shunned big acquisitions, and the latest deal underscores a strategic shift as the company tries to break into the high-barrier automotive industry where it has little track record. As part of the deal, which is subject to approval by Harman shareholders, Harman will remain an independent subsidiary of the technology giant. Samsung will pay $112 a share in cash for Harman, which generated roughly $700 million in net profit on $7 billion of revenue last year.

 
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14.11.2016

Gold at the Dawn of a new Presidential Cycle

The price of gold was expected to benefit from the surprise Trump win, and it did immediately after, with a jump towards the September high near 1340 dollars per ounce. The rally lasted just three hours, then the course reversed and the former downtrend resumed with a sharp fall below the 1250 mark. Why, then, the sentiment that had pushed higher what is considered as a safe haven, turned to bearish so fast? The projected investments in infrastructure promised by Trump, sparked purchases of industrial metals, bonds yield went up, and so the dollar, not a friendly environment for gold.

 
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14.11.2016

Singapore: former BSI banker jailed over 1MDB issue

A Singapore court jailed Yak Yew Chee on Friday, a former banker who handled Swiss bank BSI's relationship with state investor 1Malaysia Development Bhd (1MDB) for 18 weeks for forgery and failure to disclose suspicious transactions, as Reuters referred.

 
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14.11.2016

M&A: SFS-Groups to buy US company

SFS-Group is acquiring Tegra Medical, a U.S. company based in Franklin, Massachusetts. The St.Gallen-based company,  specialist in fastening and assembly systems and the US company agreed not to disclose any details of acquisition price. The American company  produces implants and instruments for orthopedics and non-invasive surgery. It generates annual revenues of $ 80 million and employs 700 people, with production units in the United States and Costa Rica.

 
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11.11.2016

Swiss National Bank: new agreement to pay Confederation

The Swiss National Bank will continue annual payments of 1 billion Swiss francs ($1.02 billion) to Switzerland's 26 cantons and the federal government according to a new 5-year pact announced on Thursday over how to divide the central bank's profits. The new agreement runs through 2020; the SNB will make up for any omitted or reduced profit distributions if its distribution reserve is in positive territory.

 
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11.11.2016

Swiss life confirms 2016 target

Insurer Swiss Life Group reported Wednesday that in the first nine months of 2016, fee income was 974 million Swiss francs, an increase of 2% in local currency from last year. Group-wide premiums were 13.4 billion francs, down from 14.6 billion francs a year ago. In local currency, this corresponds to a decline of 9%, as the performance of its asset management business improved. Insurance reserves to the benefit of the company's policyholders rose 2%.

 
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11.11.2016

Lugano: 20 million francs fraud by two companies

New financial scandal broke out in Lugano. A survey coordinated by Attorney General John Noseda is verifying two companies, Invensys and Invensys Asset Management SA. According to investigators, as reported by the RSI, the two companies would be used to raise money, used for personal purposes or to pay back those who asked for the return.

 
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