Switzerland

The main British indexes rose along with global markets on Monday after the United States agreed to temporarily lower tariffs. This eased investor concerns over the trade war between two of the world's largest economies. By 1021 GMT the blue-chip FTSE 100 index was up 0.35% while the domestically focused Midcap Index advanced 1%. After talks in Geneva, both countries announced that the U.S. would reduce its extra tariffs on Chinese imports from 145% to 30% and Chinese duties will drop to 10%. The new measures will be in effect for 90 days. The Geneva meetings marked the first face...

British stocks rose Wednesday, as investors considered mixed corporate results. The main indexes are poised to end a volatile, but largely positive, month. They have almost recovered from the losses caused by U.S. Trade policies. The blue-chip FTSE 100 index was up 0.1% as of 1009 GMT and is on course for its 13th consecutive session with a positive result. The midcap index, which is primarily focused on domestic companies, advanced by 0.7% to reach its sixth consecutive session of gains. Despite recovering from the steep tariffs announced in early this month, FTSE 100 is still poised to report a...

Trafigura’s top executive for Mongolia has been suspended pending an investigation into a fraud scheme worth billions of dollars at the Swiss trading firm. The executive, however, lent more than $500 million from Trafigura to a company owned by his aunt. Lex Oil is Trafigura’s main counterparty in Mongolia. According to three sources and a document, it belonged to Erdenetuul who is the aunt of Trafigura’s suspended local boss Jononbayar Erdenesuren. Trafigura announced last October it had suffered a loss of $1.1 billion after an internal investigation found that employees within its Mongolian petroleum product supply business engaged "serious misconduct"....

The UK's FTSE 100 ended flat on Wednesday as investors remained cautious ahead of the U.S. Federal Reserve interest rate decision that would be made later in the day. Energy stocks also helped to keep declines at bay. The blue-chip FTSE 100 index was barely changed while the domestically focused FTSE 250 Index edged up 0.1%. The energy sector led the gains in all sectors, boosted by rising oil prices and hopes for a rise in U.S. demand and a limited ceasefire between Ukraine & Russia. . The Fed's decision to change its policy will be the highlight of a...

The United Nations Environment Programme announced on Monday that a new round will be held in Geneva from 5-14 August to negotiate a global treaty on plastics. This follows the failure of countries to reach an agreement on parameters for a final deal in December last year in Busan, South Korea. The final meeting of the U.N. Intergovernmental Negotiating Committee, INC-5 in Busan, was supposed to be the last one. However the countries remained divided on the scope of a global treaty. They could only agree to defer key decisions until the next session which will be called INC 5.2....

Here are the key factors that could affect Swiss stocks Thursday: CLARIANT AG TotalEnergie has been accused of violating the 2020 Competition Law. The company says it denies these allegations. MEYER BURGER TECHNOLOGY AGR The bondholders have approved the changes to the convertible bonds that mature in 2027 or 2029, to inject new capital into business. FEINTOOL HOLDINGS AG The company did not provide any guidance for the year 2025. It cited continued low visibility in Europe. KUDELSKI - The company plans to eliminate 160 jobs as part of its restructuring in 2025. BUSINESS STATEMENTS SULZER AG: The company reported...

On Thursday, a top Swiss court found that a former Gunvor employee had corrupted officials in the Republic of Congo for oil contracts. This is the first time that a corruption case in Switzerland's commodities trading industry, worth $80 billion, has been brought to court. This follows the conviction of Trafigura, a rival trading firm, and a former executive in a corruption case involving Angolan Oil Deals last month. The Swiss Federal Criminal Court released a statement on Thursday that the ruling concerned bribes worth over $35 million, intended at least in part for Congolese officials, over an 18-month period...

The Financial Times reported that the global oil demand will remain stable until at least 2040. The report cited the long-term outlook of the company, which was seen by the newspaper. Vitol didn't immediately respond to an inquiry for comment. In the report, the company stated that despite efforts made to reduce carbon emissions through the transition to cleaner fuels by switching to cleaner fuels and growing populations, oil demand would continue to grow. The report stated that Vitol, which is the largest independent oil trader in the world, expects the global oil demand to drop by 4.5 millions bpd...

S witzerland’s top criminal court found Trafigura, a former executive and a company guilty of corruption on Friday in a case involving the payment made to an Angolan government official in exchange for oil contract. The court ordered that the trading house pay $148 million as fines and compensation, and sentenced Mike Wainwright, a former employee of itss to 32 months imprisonment. Of this time 12 months must be served. You can appeal the decision to the same court. This is the first case in Switzerland where a company was charged with corruption of an official from abroad. It's also...

Saudi Economy Minister Faisal Alibrahim said on Friday that the $600 billion of expanded financial investment and trade with the United States discussed by Saudi Crown Prince Mohammed bin Salman includes investments as well as procurement from the public and private sectors. The state news firm said on Thursday that the crown prince had affirmed the kingdom's objective to widen its financial investments and trade with the United States over the next four years, in the amount of $600 billion, and possibly beyond that. This number represents investments, procurement, public and private sector, and it's simply a mirror reflection of...

President Donald Trump said on Thursday the United States would ensure supplies of liquefied natural gas to Europe, even amidst concerns that the flourishing export market might enhance prices of gas for U.S. consumers. TotalEnergies CEO Patrick Pouyanne asked Trump, who was speaking remotely at the World Economic Forum on Thursday in Davos, Switzerland, what he would do if expected development in U.S. LNG jobs improved the domestic gas cost. He likewise asked Trump if he would consent to guarantee security of LNG materials to Europe, which is lowering its reliance on gas from Russia. I would ensure that you...

Syrian Foreign Minister Asaad Hassan alShibani stated on Wednesday that the country will open its economy to foreign financial investment and that Damascus is also dealing with energy and electrical power collaborations with Gulf states. Syria's economic resources are diverse and we have a great deal of sectors - industry, tourist ... of course the economy in the future will be open and will open the road for foreign investment, he said at the World Economic Online forum meeting in Davos, Switzerland. Shibani paid different check outs to Saudi Arabia, the United Arab Emirates and Qatar in early January, during...

The gold price rose on Tuesday, as bargain hunters sought to make up for a steep loss the day before. Inflation data from the U.S. that were lower than expected also helped. Gold spot rose by 0.2%, to $3,241.16 per ounce, as of 13:38 GMT (938 ET), after dropping as low as $3207.30 an ounce on Monday. U.S. Gold Futures rose 0.6% to $3,245.50. Bart Melek said that the news of a possible deal between the U.S.A. and China caused a large correction in the gold price on Monday. "However, tariffs on China are still 30% which is quite negative...

The gold price on Tuesday was hovering around a low of more than a week, which had been hit the previous session. A U.S. China agreement to temporarily halt tariffs reciprocally boosted risk appetite and diminished gold's appeal as a safe haven. As of 0309 GMT, spot gold remained unchanged at $3,230.99 per ounce. Bullion prices fell by 2.7% in the previous session. U.S. Gold Futures rose 0.2% to $3.235.20. After two days in Geneva of negotiations, the U.S. announced that it would reduce its tariffs on Chinese imports from 145% down to 30%, and China's duties on U.S. imported...

HESTA, an Australian pension fund, announced on Monday that it sold the remaining stake in Mineral Resources founded by billionaire Chris Ellison. The reason given was "serious concerns" about governance. The mining services provider is grappling with governance problems, mostly involving Ellison. Allegations include tax evasion, and misusing company resources for personal purposes. HESTA confirmed in an email sent to that it has divested its Mineral Resources stake for approximately A$14 Million ($8.99 millions). HESTA stated that concerns regarding the company's management were not addressed as quickly as they should have been despite the repeated engagement of the board. The...

Cobalt Holdings announced on Monday that it intends to raise $230,000,000 through a global offering and possibly list its shares at the London Stock Exchange. The company wants to give investors pure-play exposure in cobalt prices. The company has a contract to purchase cobalt worth $200 million from Glencore, the world's largest miner. It plans to use proceeds from its equity raising to complete the purchase of this metal, which is a key component of electric vehicle batteries. Glencore and Anchorage Structured Commodities Advisor, an investment firm, have agreed to invest approximately 20.5% in the shares being offered. A six-year...

Gold prices fell Friday, after U.S. president Donald Trump announced that the United States and UK had reached a free trade agreement. This lowered gold's appeal as a safe haven, while the focus shifted towards U.S. China talks at this weekend. As of 0217 GMT, spot gold dropped 0.8% to $3277.67 per ounce. U.S. Gold Futures fell 0.7% to $3282.80. Trump and British Premier Keir starmer announced "a breakthrough deal". The 10% tariff on UK goods will remain in place. Britain has agreed to reduce its tariffs from 5.1% to 1.8% and allow greater access to U.S. products. Kyle Rodda,...

Heidelberg Materials, the second largest cement manufacturer in the world, reported sales and profits that exceeded expectations for its first quarter. The company also confirmed its outlook citing strong growth across Africa. The first-quarter results from current operations of the company rose 1.3%, to 235 millions euros ($266million), exceeding the average polled forecast by the group. Dominik Von Achten, CEO of the company, said that despite the political and economic uncertainty as well as the difficult weather conditions in certain regions, the 2025 financial period started off very positively. Holcim, a larger competitor, cited a strong North African business as...

He Lifeng, a trusted confidant of Chinese president Xi Jinping, who has gradually built a reputation as a fixer among foreign investors, will be at the forefront in Saturday's talks aimed at breaking a deadlock on trade with the United States. After weeks of escalating trade tensions, the vice premier of Canada will meet with U.S. Treasury Sec. Scott Bessent in Switzerland and Jamieson Greer as chief trade negotiator. He is the person who oversees U.S. China economic and trade relations. We interviewed 13 foreign diplomats and investors who met He in the last year. The interviewees described He's transformation...

Geberit, a building materials supplier, reported on Tuesday a nearly 5-percent increase in sales for its first quarter. It also said that it expected the European construction industry to "stabilise" in 2025 despite an uncertain economic environment. According to a poll conducted by AWP, Geberit is a manufacturer of toilets, bathroom tiles and piping. The company reported sales of 878.5 millions Swiss francs for the third quarter. This was up 4.9% compared to a year ago and higher than analysts' expectations, which were 869 million francs. Geberit first-quarter sales, measured in local currency, rose 5.3% on an annual basis. The...

Swiss Re, the reinsurance firm, said that in its report published on Tuesday, natural disasters such as hurricanes, storms and floods could cause insured losses of $145 billion by 2025. This would be a nearly 6% increase from 2024, and it would also make 2025 one of most expensive years ever. The projected amount of natural catastrophe losses covered by insurance for the year is $137 billion, which is significantly higher than long-term averages. Swiss Re's report cited the wildfires that ravaged Los Angeles in the first quarter of this year as the major contributors to the projected figures, which...

Holcim, a Swiss construction materials manufacturer, reported a better-than expected first-quarter result on Friday in its final results before Amrize's spin-off from its North American operations. Holcim reported a recurring operating loss of 515 million Swiss Francs ($619m) for the quarter ended March 31. This was higher than the consensus estimate of 494 million Swiss Francs. Sales were stable at 5,54 billion francs compared to forecasts of 5.49 billion. In a press release, CEO Miljan Gutovic stated that "our disciplined M&A implementation continued with five acquisitions of value-adding companies." These transactions will strengthen the aggregates and ready mix businesses in...

Official data show that the gold, which traders had been shipping to New York as a precautionary measure against possible U.S. import tariffs on bullion, is now being sent back to Switzerland. Swiss customs data released on Thursday revealed that gold imports to Switzerland from the U.S. reached a 13-month high in March of 25.5 tons, up from 12.1 tonnes in February. The Swiss gold exports to the U.S. dropped 32% on a month-to-month basis to 103.2 tonnes. U.S. gold warehouses, approved by Comex and part of CME Group, have experienced eight days of gold outflows. Daily Comex data revealed...

Three people familiar with the matter said that TK Elevator owners are considering the United States for a possible initial public offering (IPO) next year, despite the market turmoil caused by U.S. Tariffs, which has slowed the pace of dealmaking. The people, who spoke on condition of anonymity as the matter was private, said that the discussions are still at an early stage, and the preparations will be formalised by the end of 2025 with a view of conducting a company sale or listing next year. People said that the business would likely be valued at over 20 billion euros...