Credit Suisse corrects upwards its growth forecasts for the Swiss economy this year: according to the institute’s economists, the gross domestic product will increase by 1.5% this year, versus + 1.0% expected previously. The 2017 estimate remains unchanged, fixed at 1.5%. And the bank warned: stronger expansion is closely related to the immigrants, who are required to increase the workforce.
The Swiss economy will not get back into full swing in 2017 either, due to a lack of momentum among key growth drivers – in particular immigration. These are the conclusions of the Credit Suisse economists in the latest issue of "Monitor Switzerland".
The EU summit will begin tomorrow in Bratislava, but some key issues have already appeared on the table: "We need to protect our external borders but we must take joint responsibility", is the statement released to press by the German Chancellor Angela Merkel after the meeting with French President François Hollande in Paris.
Brexit deal has not yet begun, but it already appears uphill, after the European Commission has appointed as negotiator few days ago, the former Belgian Prime Minister Guy Verhofstadt, the current leader of the liberals at the European Parliament.
In a tweet he said: "Brexit should be delivered before 2019, when EU politics enters into new cycle & the @Europarl_EN starts new mandate" and pointing out that if the UK wants to continue to have access to the common market, must also accept the freedom of movement of citizens, considering "inseparable" the four freedoms of movement of goods, services, capital and people.
The transaction, for "several billion euro" aims to support sustainable investment and was already announced in recent months by Prime Minister François Hollande. It will all be included in the next budget law.
The Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (Finma) have signed an agreement to expand cooperation on FinTech.
This initiative was launched at the second Financial Dialogue between the MAS and the State Secretariat for International Finance (SIF) held today.
The accord will help spur opportunities for FinTech businesses from Singapore and Switzerland to grow into each other’s markets. MAS and FINMA have also committed to sharing the information regarding emerging fintech trends and regulatory issues pertaining to innovation.
Bayer has again increased its bid for the purchase of Monsanto with the goal of creating a new global leader in the field of seeds and pesticides. Bayer, which is attempting to mid-May to reach an agreement with Monsanto, has stated his willingness to pay $ 127.50 per share, a new increase in supply compared to $ 125 previously proposed action. The increase in supply leads to the evaluation Monsanto more than 65 billion dollars including debt, 56 billion excluding debt.
apanese companies could leave the UK. The threat came directly on the table of the Chinese G20. "Japanese companies have headquarters in the United Kingdom may decide to shift their headquarters in continental Europe where EU laws will cease to be applicable in the United Kingdom". In a document published on the Foreign Ministry website Tokyo calls on the newly British Prime Minister Theresa May to act "responsibly to minimize negative impacts on the Japanese firms."
The insurance giant Axa, Belgian division, announced to the staff that by 2018 will remove 650 jobs as part of a strategic plan that aims to "focus its activities" and to "accelerate the digital transformation."
Concurrently, the company has planned investment of 200 million Euro over 5 years for the strengthening of mobile services offered, while expenditures related to logistics, IT and geographical presence will be reduced. Axa Belgique will transfer the activities of Charleroi, Leuven, Ghent and Eupen in the Antwerp offices (north), Liege (south-east) and Brussels.
For qualified investors / professional clients only
In order to proceed, you must confirm that you are a qualified investor based in Switzerland
The information contained in this section have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document.
Before investing in a product please read the latest prospectus carefully and thoroughly and note that funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided without any guarantee or warranty and are for the recipient's personal use and information purposes only
