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The Latest Breaking News from Switzerland

Switzerland should allow re-export of arms to Ukraine -Kyiv envoy

The Swiss foreign policy tradition of neutrality should not include blocking re-exports of Swiss weapons to Ukraine, the Ukrainian ambassador to Switzerland said on Monday, adding the weapons were urgently needed to win the war against Russia.

Reuters

The ‘too big to fail’ regime for banks just doesn’t work, Swiss minister says. ‘The economic damage would be considerable’

A restructuring or liquidation would have triggered “major international upheaval," said finance minister Karin Keller-Sutter.

Fortune

BCPG allots B39bn in capital spending

BCPG Plc, the power generation arm of energy conglomerate Bangchak Corporation Plc, plans to allocate 39 billion baht in capital spending to fund its domestic and overseas businesses and asset acquisitions, including those affected by ongoing banking problems in the US and Switzerland.

Bangkok Post

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Switzerland Set To Roll Out Carpet-Like Solar Panels Between Railroad Tracks

The initiative could be a potential remedy for the energy problem and the rising cost of electricity.

Zenger

Liel Abada a major Celtic injury doubt for Rangers as Israel boss maps out recovery timeline after training knock

The forward will miss Israel's Euro 2024 double header against Kosovo and Switzerland.

Daily Record

Woman, 18, feared dead after huge 50ft avalanche buries her on school skiing trip

Emily Franciose, from Colorado, US, was on a boarding school trip to the Bernese Alps when she was trapped under a 2,000ft-wide avalanche on the Gstelliwang slope in Bern, Switzerland

Daily Mirror

Inside luxury life of Vladimir Putin's secret girlfriend as Ukraine war rages

Olympic gold medal-winning gymnast and Vladimir Putin's bedfellow, Alina Kabaeva, 39, has been moved from Lugano in Switzerland to a forest hideaway in the depths of northern Russia

Daily Mirror

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British teenager killed by avalanche on ski tour in Switzerland

The 18-year-old was killed on Tuesday after an avalanche struck in Meiringen resort, in the canton of Bern

The Independent UK

After Fed, European central banks hike rates

LONDON: The Bank of England joined Norway and Switzerland in hiking interest rates on Thursday to tackle stubbornly-high inflation, though banking-sector turmoil could soon lead to a pause in US tightening as hinted by the Federal Reserve.

Bangkok Post

Swiss Open 2023: PV Sindhu, HS Prannoy enter pre-quarterfinals

NEW DELHI: Two-time Olympic medallist and fourth seed PV Sindhu made a positive start to her title defence at the Swiss Open Super 300 badminton tournament, beating Jenjira Stadelmann of Switzerland 21-9, 21-16 in a lop-sided opening round of women's singles.

The Times of India

When banks go bust: the four factors at play - trust, confidence, contagion and systemic risk

Banks are in the news again. Two bank failures in the US, and the forced takeover of Credit Suisse by UBS in Switzerland, have triggered the worst turmoil in the banking sector since the 2008 financial crisis. There’s talk of a lack of trust, of a collapse in confidence, of…

The Conversation

Credit Suisse customers feel mix of anger, relief after sale

Credit Suisse's customers are feeling a range of emotions after the government orchestrated a takeover of the country’s second-largest bank by rival UBS

The Independent UK

British teenager killed in avalanche while skiing in Switzerland

The teenager’s body was recovered and police are still searching for a second victim

Evening Standard

Brit, 18, killed after avalanche swept him away while on ski tour in Switzerland

The British skier, 18, was swept away and killed in an avalanche while out on the slopes in Meiringen, in the Swiss canton of Bern, with another unidentified individual still missing as rescue teams trawl through the snow

Daily Mirror

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The Guardian - UK

Switzerland’s national pride dealt heavy blow by the merger of its banking titans

‘A monster is born’, say local press, as Credit Suisse takeover by UBS creates bank twice the size of the Swiss economy

Asharq Al-Awsat

UN, US Welcome Latest Prisoner Exchange Agreement in Yemen

The international community welcomed the latest prisoner exchange agreement reached between the legitimate Yemeni government and Iran-backed Houthi militias. The parties agreed to free 887 detainees and to meet again in May after 10 days of negotiations in Switzerland, the United Nations and the International Committee of the Red Cross…

The Conversation

Credit Suisse is an anomaly: why Australia and New Zealand are safe from 'bank run' contagion

There has been a lot of talk about the risk of financial contagion following the collapse of California’s Silicon Valley Bank. Perhaps too much talk.

The Independent UK

Swiss suspends bonus payouts to Credit Suisse staffers

Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS

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Dublin Live

Elite garda units team up with European cops for anti-terror exercise that started in Dublin

Officers from the National Surveillance and the Emergency Response units played a key role in exercise Firestorm, that involved officers from eight other countries, including Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom

Irish Mirror

Elite Garda units take part in Europe-wide anti-terror exercise - that started in Dublin

Officers played a key role in exercise Firestorm, that involved officers from eight other countries, including Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom

The Guardian - US

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

Asharq Al-Awsat

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat

Yemen Govt, Houthis to Release 887 Prisoners in UN-mediated Agreement

The Yemeni government and Iran-backed Houthi militias agreed to free 887 detainees and to meet again in May after 10 days of negotiations in Switzerland, the United Nations and the International Committee of the Red Cross said on Monday. "It's an expression of hope. It's an expression of humanity and…

Reuters

Giant bank deal triggers political backlash in Switzerland

Switzerland's two biggest political parties sharply criticized UBS's takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country.

Radio France Internationale

EU, Asia bank shares slide despite UBS decision to buy out Credit Suisse

The European financial system is "resilient" the European Central Bank said on Monday, as global bank shares and oil prices slumped following the announcement that Switzerland's biggest bank UBS will take over troubled rival Credit Suisse.

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