Swiss pesticides and seeds group Syngenta reported 2016 earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.66 billion on sales of $12.79 billion.
Analysts polled by Reuters had on average expected EBITDA to fall 5.9 percent to $2.61 billion on sales down 4.2 percent to $12.85 billion. They had expected it to boost its dividend to 11.60 Swiss francs from 11.00
The foreign exchange reserves held by the Swiss National Bank (SNB) fell slightly in January, down from 1.6 billion to 643.7 billion, compared with the December figure of 645.3 billion. This is the second consecutive decline, after eight months on the rise.
The set of reserves, excluding gold, increased 651.1 bn to 649.4 bn swiss francs, as the institute said today.
In December, foreign exchange reserves had contracted in a similar manner, to 2.4 billion. Also last February the reserves recorded a decline (-4 billion), while in the other months of 2016 there had been an increase, even double-digit in January (+16 billion), April (+11), May (+14) , August (+11) and November (+18).
The Swiss manufacturer Oerlikon Metco plans to spend $62 million (CHF55 mln) to open a facility in Huntersville, where it will create 93 high-paying jobs over the next five years, it said Monday.
The new plant will specialize in end-to-end advanced component manufacturing, and it will also house research and development work, according to a statement from the company Monday.
Oerlikon’s Charlotte plant will be its first additive manufacturing facility in the U.S. and will provide end-to-end advanced component manufacturing and house extensive research and development and production teams.
Switzerland’s consumer sentiment improved strongly in the three months to January to its highest level in two-and-a-half years, survey results from the State Secretariat for Economic Affairs, or SECO, showed Tuesday.
The consumer confidence index climbed to -3 from -13 in October, marking its highest level since July 2014, the survey conducted among roughly 1,200 consumers revealed. The reading is above its long-term average, after six below-average quarters.
"Consumers are clearly more optimistic about where they feel the economy is going as well as being less gloomy about the future development of unemployment and their own financial situation. This is thus the first time that consumers have rated the outlook in many areas as positively as they did shortly before the Swiss franc shock in early 2015" SECO said.
The Swiss franc’s high value continues to have a negative effect on the confederation’s economy, especially compared to the euro quoted an expert as reporting on Monday.
Andrea Maechler, one of the three members of the Swiss National Bank’s (SNB) governing board, told Swiss newspaper Tribune de Geneve that in addition to the currency valuation, other factors including interest rates, changes in prices and the global situation must also be taken into account when assessing the confederation’s economic outlook.
“It’s clear that the strong Swiss franc remains a big challenge for many businesses in Switzerland,” Maechler told in the interview.
The new head of UBS Switzerland, Martin Blessing, told Swiss newspaper SonntagsZeitung that he expects interest rates across Europe to remain low for the next 12-18 months. Consequently, Blessing cast doubt on rival Credit Suisse’s 2018 target of 2.3 billion Swiss francs ($2.32 billion) at its Swiss business, saying that "to reach such a goal, the market environment would have to change dramatically."
And, over job places, he added that huge cuts jobs aren’t scheduled; however, Blessing said that probably in the next few years there will be a slight drop in the number of employees.
The year 2017 is an important one for the Swiss banking sector. As of January 1st, the country’s financial institutions are now obligated to share banking information. This new regulation effectively ends Switzerland’s reputation as a tax haven.
The Swiss finance ministry said on Thursday it had reached a deal with Liechtenstein to exchange tax information, potentially helping to uncover billions of dollars in undeclared assets kept by Swiss citizens in neighbouring country.
“These assets will be declared and the person has the chance either to repatriate the assets to Switzerland, or he will be taxed and he keeps his money in Liechtenstein,” said Joerg Gasser, head of the State Secretariat for International Financial Matters, a branch of the finance ministry.
The amount of undeclared Swiss assets in Liechtenstein, a principality of just 38,000 people sandwiched between Switzerland and Austria, is unknown.
Geneva recorded the most expensive house prices in Switzerland, according to a report Thursday by real estate brokerage Engel & Völkers, based on sales data. The city’s cosmopolitan flair is reflected too in the level of demand from international clients, with around 40% of interested buyers resident beyond the borders of Switzerland.
The French-speaking city registered the highest price in the Alpine country, CHF70,000 ($70,807) per square meter. The data used in the ranking is based on residential property brokered by the company or transactions recorded on the market during 2016.
