Institutional Investor (August Issue)
Several years ago Switzerland adopted a currency floor to stem the Swiss franc’s appreciation against the euro. “Last November, the Czech Republic followed suit, threatening to intervene in the currency market if the ikoruna strengthened.” Now, with the euro poised to continue depreciating, some are wondering whether Sweden will be the next to “follow Switzerland’s lead by adopting a currency floor?”
Tags: Appreciation, Currency floor, Currency market, Czech Republic, Depreciating, euro, Franc, Ikoruna, Sweden, Switzerland
Forbes (March 13)
“Like Iceland in its heyday, Singapore’s economic stability and vitality – on the surface at least – has made it the envy of the world at a time when most Western economies are languishing with feeble growth, and high rates of unemployment and poverty.” And, just like Iceland, the Switzerland of Asia will suffer when its economic bubble is punctured. In the meantime, “Singapore’s bubble economy may continue inflating for several more years if the U.S. Fed Funds Rate and SIBOR continue to be held at such low levels.”
Tags: Asia, Bubble, Economic stability, Fed, Growth, Iceland, Poverty, SIBOR, Singapore, Switzerland, U.S., Unemployment, Western economies
Euromoney (August Issue)
“Singapore’s long drive to become the world’s leading centre for private asset management is gaining momentum as Asia’s wealthy exert greater influence and overseas investors flock to the city state.” Singapore is now a “legitimate rival to Switzerland,” with estimates the island state will overtake the Alpine nation in terms of assets under management by 2015.
Tags: Asia, Asset management, AUM, Influence, Investors, Momentum, Singapore, Switzerland, Wealthy
Businessweek (March 4)
“The Swiss government must figure out how to translate some of the world’s toughest rules on executive pay into national law and risk an exodus of big corporations after voters overwhelmingly backed new curbs in a referendum.” In addition to giving shareholders a binding vote on executive pay, the measure will crack down on golden handshakes and golden parachutes.
The Economist (September 3)
Japan’s not alone in living with an overvalued currency. The commodities “boom has lifted the Australian dollar by more than 43% since the start of 2009” and “pushed up Brazil’s real by even more.” Switzerland escaped this boom, but it’s blessed (or cursed) “with a commodity prized more than iron ore or soyabeans in uncertain times: safety.” As a result the Swiss franc has shot upward. Policymakers in all three countries are concerned, but efforts to weaken their currencies have born little fruit. “Instead of trying to prevent a rise in the currency, countries can, of course, learn to live with it.”
The Independent (August 30)
The second generation of biofuels may be drawing near. By using enzymes that allow elephants to digest “sugars which normally remain locked up in the cellulose structure of plant cells,” Swiss researchers were able to “convert 90 per cent of bio-mass, such as maize stalks or wheat straw, into ethanol—about double the rate until now.” This second generation technology would make it possible to “to mass-produce eco-friendly gasoline for the first time without relying on food crops.”
The second generation of biofuels may be drawing near. By using enzymes that allow elephants to digest “sugars which normally remain locked up in the cellulose structure of plant cells,” Swiss researchers were able to “convert 90 per cent of bio-mass, such as maize stalks or wheat straw, into ethanol—about double the rate until now.” This second generation technology would make it possible to “to mass-produce eco-friendly gasoline for the first time without relying on food crops.”
Tags: Biofuel, Food crops, Gasoline, Switzerland, Waste
