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Federal Councillor Karin Keller-Sutter stated that the new understanding on bilaterals III is "significantly better" than the previously rejected Framework Agreement, aiming to stabilize relations with Brussels. She also addressed accusations regarding the Federal Council's knowledge of UBS's takeover of Credit Suisse, asserting that she informed the government adequately during her transition to the Finance Department. Additionally, she noted that Switzerland's annual cohesion contribution of 350 million francs is about 100 million francs less than Norway's.
Switzerland has suspended the most favoured nation (MFN) status for India, resulting in a 10% tax on dividends from Indian entities starting January 1. This decision follows a Supreme Court ruling that clarified the MFN clause's applicability concerning OECD membership. India's Ministry of External Affairs indicated that the double taxation treaty with Switzerland may need renegotiation due to India's recent trade pact with the European Free Trade Association, which aims to attract $100 billion in investments over the next 15 years.
UBS reports a decrease in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supply. European gas storage levels are at 81%, aligning with the five-year average, though 10% lower than last year. Demand rose 3% in November, driven by colder weather, while piped gas imports remained stable despite a slight decline in Russian imports amid contractual disputes.
UBS reports a reduction in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supplies. European gas storage levels are at 81%, 10% lower than last year, and demand rose 3% in November, driven by colder weather, despite remaining below historical averages.
UBS reports a decrease in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supply. European gas storage levels are at 81%, with projections indicating a winter end in the low-40% range, while demand rose 3% year-over-year in November, driven by colder weather. Piped gas imports remained stable, despite a slight decline in Russian imports amid a contractual dispute.
TUI AG, a Germany-based global tourism group, operates through three main segments: Hotels & Resorts, Cruises, and TUI Musement, across Northern, Central, and Western regions. The Hotels & Resorts segment includes group-owned hotel brands, while the Cruises segment features TUI Cruises and Marella Cruises. TUI Musement provides local services at holiday destinations, with regional operations covering the UK, Ireland, Germany, Austria, Poland, Switzerland, Belgium, the Netherlands, and France.
Norway's core inflation has risen for the first time in a year, reaching 3% in the last month, surpassing the 2.8% forecast by economists. This increase supports the central bank's stance on maintaining interest rates until at least March, aligning with Norges Bank's projections.
UBS has maintained a "Neutral" rating for Yara International, setting a target price of 350 Norwegian kroner. Analyst Geoff Haire highlighted that a potential ceasefire between Russia and Ukraine could lead to increased gas exports to Europe, significantly lowering gas prices and benefiting companies like Yara, BASF, Covestro, and Lanxess.
Norway's home prices have increased for the fourth consecutive month, surpassing central bank forecasts and dampening expectations for an interest rate cut before March. In November, prices rose a seasonally-adjusted 0.4%, following a trend of gains throughout the year, except for July.
Switzerland is experiencing a surge in wealthy migrants, with an estimated 1,500 millionaires relocating by year-end, driven by geopolitical instability and tax changes in their home countries. The Alpine nation remains a favored destination due to its stable governance, scenic landscapes, and attractive tax incentives, despite increasing competition from countries like the UAE and Portugal. However, recent calls for higher taxes on the wealthy could threaten its appeal.
Norwegian Krone
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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