Switzerland

Medecins Sans Frontieres reported on Tuesday that it had'recorded two deaths' and treated 56 injured people after five drone attacks carried out by the Sudanese Armed Forces in Darfur. MSF provides medical assistance and responds to emergencies in nine Sudanese states, amid a conflict between the Sudanese Army and?the paramilitary Rapid Support Forces. In a press release, the Geneva-based medical charity said that the attacks of the Sudanese?Armed Forces demonstrated complete disregard for civilian lives as Sudan entered its?fourth war year. "We urge the 'warring parties' in Sudan to protect civilians." U.N. Human Rights Office has stated that drone strikes...

European chemical companies are expected to report lower first-quarter earnings, which will shed light on the extent of the war in the Middle East's impact on an industry that is viewed as being one of the most vulnerable to it. The U.S. and Israeli war?with Iran disrupted the fuel and feedstock market, driving up?prices in the energy-intensive chemicals industry. VCI, a German chemicals association, said that the chemical industry is more affected than other industries by the dramatic rise in energy and raw materials costs because it relies primarily on oil and natural gas as feedstocks. The war-induced surge in...

European chemical companies will likely report lower first-quarter earnings, which will shed light on the?depth of the impact the Middle East war has had on an industry that is viewed as being one of the most vulnerable to it. The 'U.S.-Israeli conflict with Iran has caused disruptions in the 'fuel and feedstock market, which have pushed up prices for the energy-intensive chemical sector. VCI, the German chemicals association, said that the chemical industry is more affected than other industries by the dramatic rise in energy and raw materials costs because it relies primarily on oil and natural gas as feedstocks....

Trafigura, a global commodity trading firm, announced?on Thursday?it?had?signed an offtake agreement with Heath Goldfields Ltd., a Ghanaian-owned mining company. The deal was to purchase 700,000 ounces gold dore at the Bogoso Prestea mine located in western Ghana. Trafigura said in a press release that it would provide $65 million of debt financing in addition to the?offtake in order to support the restart of oxide ore mining operations at the mine. Trafigura stated that it would 'act as an offtaker of gold dore' (a'semi processed gold product? )?generated at the Bogoso Prestea processing facility. Deliveries are expected to begin later this...

Trafigura has not ceased its contracts with Bolivia's oil and gas state company YPFB, a spokesperson for the company said on Thursday. The company was rejecting a claim made by Bolivian Energy Minister Mauricio Medinaceli. Medinaceli announced on Tuesday that Bolivia will suspend its gasoline contracts Trafigura, and with rival trading house Vitol, until the investigation into the alleged smuggling of poor-quality fuel from Chile is completed. Later, on Thursday, YPFB confirmed its main supply contracts are still in effect, ensuring a?continuity of supply. The state-owned company has announced that it has signed an addition to its existing contract with...

When the world was faced with a sudden surge in inflationary forces in 2021-22 due to a severe shock in supply and spikes in energy prices, all major central banks reacted?together. This is unlikely to happen again. Five years ago, supply disruptions caused by pandemics led to a united - but belated cycle of interest rate hikes among the world's largest central banks. This cycle accelerated in response to the skyrocketing prices of energy triggered by Russia’s invasion of Ukraine. By the time the European Central Bank raised rates in July 2022 (and the Bank of Japan did not), every...

The Iran War and the 'global energy shock' it unleashed could have put an end to the idea that there is a safe-haven investment for everyone. It's not a novel concept given the poor performance of U.S. Treasuries after Russia invaded Ukraine in 2004. The extraordinary fall in gold prices'since the U.S. and Israeli strike on Iran on 28 February' has brought it into the spotlight. In times of economic, geopolitical or financial instability, investors flock to assets like Treasuries. The dollar, Swiss Franc and especially gold. These are the assets that will most likely serve as a safe haven...

The Iran War and the global energy crisis it unleashed could have "killed" the idea of an asset that fits all. It is not a novel concept given the poor performance of the U.S. Treasuries did well after the Russian invasion of Ukraine four years earlier. The extraordinary fall in gold prices since the U.S. and Israeli strike on Iran, February 28, has brought it into the spotlight. In times of increased economic, geopolitical or financial uncertainty, investors tend to flock to gold, Swiss franc, Treasuries and the dollar. These are the assets that will most likely serve as a...

dsm firmenich, a European chemicals manufacturer, said on Thursday that it 'expects a slightly... higher adjusted core.profit margin % in 2026. It also said it is focusing on accelerating its growth for the next fiscal. The group stated that "macro-economic issues experienced in the second half 2025 continued into the first quarter of 2026. These include cautious consumer demand, and adverse FX effects." The group expects to achieve an adjusted earnings before interest taxes, depreciation, and amortization (EBITDA), margin of 20%. This is slightly higher than the 19.6% reported by the company last year and beats?the same figure?expected in average...

CEO Flemming Ornskov stated on Thursday that 'Galderma continues to see the Middle East as a 'attractive market. The conflict in the region is unlikely to have any major impact on the Swiss skincare firm because it only represents a small part of their business. Ornskov stated that less than 2% (of Galderma's) business is currently located in the Middle East. However, the company has made efforts to expand in this region, highlighting its recent entry into Saudi Arabia, and expansion in United Arab Emirates. He said that Galderma was pursuing its plans in the region, citing that there were...

Investors paused on Wednesday to re-energize themselves after a global stock market crash that sent the benchmark index plummeting more than a month ago amid fears of a prolonged and widened conflict in the Middle East. By 0810 GMT, the pan-European STOXX 600 index was up 0.6% to?607.62. Since Friday's record high, the index has lost nearly 5%. The travel and luxury stocks that were at the forefront of this sell-off were each up by more than 1%. The index was boosted by the technology and healthcare sectors. Vistry fell 22% after the UK homebuilder announced that Greg Fitzgerald, its...

The safe haven currencies of the Swiss Franc and Japanese Yen strengthened, while 'the euro' fell as trading resumed following a weekend in which?the United States and Israel launched their most ambitious attack on Iran since decades, killing Supreme leader Ayatollah Khamenei. In late New York trading on Friday, the euro fell 0.34% to $1.1776 from around $1.18. The euro also dropped 0.5% against the Swiss Franc, to 0.9039 - its lowest level since 2015. The dollar dropped 0.26% against the yen, and was down 0.3% lastly against the Swiss Franc. The greenback was stronger against the Australian dollar and...

Sika, a Swiss chemical group that manufactures products for construction in China, reported a decline?in sales?for its first quarter on Tuesday. The drop was attributed to a?stronger Swiss Franc and weakness?in the construction industry. The sales for the quarter fell by 7%, to 2,49 billion Swiss Francs ($3,18 billion). The company reiterated the forecast it made in February. It projected a 1% to 4% increase in annual sales in local currency and an EBITDA margin between 19.5% and 20% by 2026. The 'company' said that a?long-term slump in China’s construction sector continued weighing on the results even as Europe showed...

A Paris court found Holcim Lafarge guilty on Monday of charges that its Syrian subsidiary had financed terrorism, and violated European sanctions in order to keep a plant operating in northern Syria during the civil war. Eight former Lafarge employees, including executives, were found guilty of funding terrorism. The judges determined that Lafarge paid a total of 5.59 million Euros ($6.53million) between 2013 and September 2014 to jihadists groups, including the Islamic State (IS), and the al Qaeda affiliated Nusra Front. Both were designated terrorists by EU. Isabelle Prevost Desprez, the presiding Judge, stated that payments made by?Lafarge strengthened jihadist...

V enezuela’s efforts to attract foreign investors for the development of its gold, bauxite and?iron seams have enthusiastic support from the Trump administration, but face big challenges. These include armed groups that have deep interests in the chaos and largely illegal prospecting industries which?developed during the last 20 years. Sources in Bolivar, a sprawling state in the southeast of Colombia, said that they are skeptical about international companies' ability to invest meaningfully if there is not a major improvement in security. Local criminals work alongside Colombian rebels. State security forces and the Colombian government have been accused by criminals of...

On Friday, copper prices reached their highest level in over three weeks as investors weighed up signs of increased demand from China's top metals consumer against the uncertainty surrounding a fragile ceasefire during?the Iran War. In official open-outcry trade, benchmark three-month copper on the London Metal Exchange rose 0.6% to $13,755 per metric ton and reached its highest level since March 17, at $12,845. The week was expected to close with a gain of about 4%. LME copper rose 1.2% after the official rings, when a Federal Reserve official stated that a rate reduction was possible if oil prices fell....

Copper prices soared to a record high of three weeks on Wednesday, after the?U.S. President Donald Trump has agreed to a?ceasefire? with Iran for two weeks, which will ease fears of an economic slowdown in the world as a result of the Middle East conflict. In open-outcry trading, the benchmark three-month copper price on?the London Metal Exchange rose 2.7% to $12650 per metric ton. It had previously risen as high as 3.6%, to $12,755.50. This was its highest level since March 18. In March, copper prices fell 7.6% due to economic concerns sparked by war in Iran. Trump stated that...

The price of aluminium rose on Tuesday, and the key spread for the metal on the London Metal Exchange also increased. This is due to the prolonged repairs that a smelter located in the United Arab Emirates has been facing since an Iranian attack late last month. In official open-outcry trade, the three-month contract for aluminium on London Metal Exchange (LME), gained 1.1% and reached $3,507 per metric ton. Emirates Global Aluminium announced on Friday that it could take up to one year to fully restore production at its Al Taweelah Smelter. The smelter produced 1.6 millions tons of cast...

Copper prices fell on Thursday for the first time in five sessions, as investors grew more concerned about economic growth following Donald Trump's promise to continue a flurry of strikes on Iran. Open outcry official activity on the London Metal Exchange showed that benchmark three-month copper was down 1.6% to $12,235.50 a metric tonne. The metal is considered to be a bellwether of the global economy and was expected to finish the Easter holiday-shortened weekend up 0.4%, after a run of four consecutive daily gains. "Copper is trading like a risk asset that's sensitive to macroeconomics, moving in line with...

The copper price rose on Wednesday, reaching its highest level in the past two weeks amid hopes that the Iran war may be nearing an end. Open-outcry official trading on the London Metal Exchange saw benchmark three-month copper rise 0.2% to a metric ton of $12,365 after hitting $12,492.50 - its highest level since March 18. This was copper's fourth consecutive session of gains. However, it is still far below the record high of $14,527.50 that was reached on January 29, 2017. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. "The market wants us to believe...

Aluminum prices rose on Tuesday. They were near their four-year highs and poised to make the biggest monthly gain since?almost 2 years. This was due to fears that a supply shortage would continue after Iranian strikes over the weekend damaged some of the Gulf's key smelters. The benchmark 'three-month' aluminum on the London Metal Exchange increased 2.1% by 1600GMT to $3,471.50 per metric ton, after earlier reaching $3,536, which was its highest level since March 12. Metal prices are up 10.6% in March. The attacks on Iran damaged two aluminum plants in the Gulf region operated by Aluminium Bahrain, and...

Prices of copper and aluminium fell on Friday as U.S. president Donald Trump extended the deadline for striking Iran’s energy plants. Markets appeared skeptical?about the prospects?of an agreement?between the two sides. In official open-outcry trade, the benchmark three-month price of copper at the London Metal Exchange fell by 0.3% to $12,115 per metric tonne. Since the U.S. and Israeli war against Iran began on 28 February, copper, which is widely used for power and construction has fallen by 9%, threatening economic growth and causing inflation. Macquarie analysts stated in a research report that "prices lack fundamental support, and are expected...

Schindler's head, who is Swiss, told? The head of the Swiss lift maker told? Bloomberg News reported last week that TK Elevator, a subsidiary of?Finland?s?Kone?was in negotiations to purchase TK Elevator? (TKE), citing people familiar with the situation. The merger would make Schindler the second largest lift manufacturer in the world, surpassing OTIS. Schindler CEO Paolo Compagna stated that the deal would be a 'bloodbath' bound to disrupt industry as the third- and fourth-largest manufacturers of lifts would have to integrate overlapping customer bases and production sites, and also?teams. Compagna stated in the interview that she was sure that they...

London copper fell on Tuesday after Iran denied holding talks with the U.S. about ending the Middle East war and launched new missile attacks against Israel. In official open outcry, the benchmark three-month copper price on London Metal Exchange fell 1.6% to $11,974 per metric tonne. Metal prices rose 2% after U.S. president Donald Trump said that he had "very productive" talks with Tehran, and had postponed the threatened strikes on Iranian energy infrastructure. EwaManthey, ING commodities strategist, said: "Copper has eased today following yesterday's rebound as geopolitical confidence faded." The rise in oil prices and the strengthening dollar have...