Latest news with #Zurich-based
Straits Times
3 days ago
- Politics
- Straits Times
Raid of Swiss banking blog sets bad precedent, media group says
ZURICH - Press freedom group Reporters Without Borders on Wednesday criticized a raid this month against a prominent Swiss banking blog, saying it set a dangerous precedent for critical journalism in Switzerland. Zurich-based blog Inside Paradeplatz this week said police searched its offices and the home of its founder, confiscating a laptop, a mobile phone and documents in a raid over articles in 2016 about an ex-boss of bank Raiffeisen Switzerland. Prosecutors for the canton of Zurich said the evidence was linked to criminal proceedings into whether the blog violated a provision in banking secrecy laws which the government previously said had never been used to charge journalists. "The banking act has now been used against the media for the first time," Reporters Without Borders Switzerland told Reuters via email. "We see this as a dangerous precedent that further reinforces the already existing chilling effect of the law." The Zurich prosecutors' office said it had acted in accordance with the law and that the legislation's impact on press freedoms was a matter for politicians. An amendment to the Swiss banking act that has been in force since 2015 criminalises disclosure of confidential information passed on by bank employees or other insiders. "Swiss media have to think very carefully about whether and how they report on stories based on leaked bank data - even if, as in this case, there is a clear public interest in publishing," Reporters Without Borders said, noting that journalists risked prison sentences of up to three years. Former Raiffeisen CEO Pierin Vincenz was convicted of fraud in 2022 before a court overturned the ruling last year and referred the case back to prosecutors. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
4 days ago
- Business
- Yahoo
Valory's Decentralized AI Agents Aim to Bring Transparency and Control to DeFi Investors
Valory's Decentralized AI Agents Aim to Bring Transparency and Control to DeFi Investors originally appeared on TheStreet. AI agents are quickly becoming integral to how businesses manage portfolios, automate workflows, and navigate digital markets. But most of today's tools—from ChatGPT to private analytics stacks—leave users exposed to platform risks, hidden logic, and limited control. Valory, a Zurich-based company building on the Olas protocol, is offering a decentralized alternative. The company's open-source agents combine machine learning models with smart contracts and crypto wallets, enabling users to operate AI-driven strategies across DeFi, prediction markets, and marketing—without relying on black-box infrastructure. 'We launched Olas so that people could truly own their AI,' said David Diez, CEO of Valory. 'That means owning the models, the logic, and the economics.' Valory's platform targets high-net-worth individuals and institutions that want more than generic SaaS offerings. Rather than outsourcing sensitive tasks like portfolio optimization or campaign automation, Diez says firms can now control how their AI behaves, where it operates, and how it handles assets. 'How much of your stack do you want to own?' Diez asked. 'For core business functions, it's not just about cost—it's about sovereignty over data and margin.' The agents, licensed under Apache 2.0, can be customized or reused for various use cases. Valory currently supports integration with more than 50 DeFi protocols, including Aave and Uniswap, and has reached $400 million in locked value as of Q4 2024, according to company posts on X. Security remains a central concern for institutional adoption. Valory's agents include built-in guardrails and operate with support from Safe, a widely used multi-signature wallet provider. These controls limit agents to predefined actions—such as caps on transaction size or protocol access—reducing the likelihood of errant behavior. Users retain full custody over their funds via wallets like MetaMask or Trust Wallet. Valory also supports MPC (multi-party computation) wallets, splitting key access for added redundancy. 'You can pull the plug on the agent anytime,' Diez said. Valory's stack is fully open-source and publicly audited, which the company believes is essential for attracting TradFi investors who require end-to-end transparency. Valory's Decentralized AI Agents Aim to Bring Transparency and Control to DeFi Investors first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
UBS shares slide 7% after analysts say Swiss capital rules put buybacks at risk
By Tommy Reggiori Wilkes LONDON (Reuters) -Shares in UBS dropped 7% on Tuesday as analysts voiced concern about the impact of new government proposals to force the Swiss lender to hold $26 billion in extra capital, including on the bank's plans to return cash to shareholders. UBS' stock had risen after the government on Friday announced its proposals to prevent another Credit Suisse-style meltdown. But on Tuesday the shares reversed those gains and fell sharply. By 1235 GMT they were down 6.6% at 26 francs, set for their biggest one-day drop in two months. Swiss markets were closed on Monday. The bank's capital returns to investors for 2026 and beyond remain uncertain, Deutsche Bank analysts said in a note, even as UBS on Friday reaffirmed its intention to return $3 billion in capital this year. Traders also cited worries about the impact on UBS's buyback plans as a reason for the share price fall. JP Morgan analysts said they had already lowered their buyback estimates to $3.5 billion from $6 billion for next year, and to $4 billion from $8 billion in 2027, because the Swiss proposals were the "worse-case scenario". "We are thus already pricing the worst case scenario, leaving upside from any improvement in the final rules. We think with the share price reaction today, UBS shares have priced these proposals more than enough," they said on Tuesday. Others disagreed about the likely impact on buybacks. UBS should be able to manage the extra capital demands without affecting future buybacks and dividends, Citi analysts said. But they were worried about the rules being amended as they move through a consultation and legislative process, and about UBS' consensus earnings momentum, "which continues to be weaker than peers on ongoing NII (net interest income) softness." Uncertainty over the capital requirements have clobbered UBS shares. So far this year the stock has lost nearly 9%, against a 30% rally in a European banking share index. While the government proposals confirmed some of UBS' worst fears, the bank will have six to eight years to prepare for them becoming law, a time in which the rules may change. UBS executives say the additional capital burden will put the Zurich-based bank at a disadvantage to rivals and on Friday called the requirements "extreme" and "neither proportionate nor internationally aligned." Switzerland's Finance Minister Karin Keller-Sutter said the measures were crucial for financial stability and would protect taxpayers. (Additional reporting by Danilo Masoni in Milan and Siddarth S in Bengaluru; Editing by Amanda Cooper and Hugh Lawson)
Fintech News ME
11-06-2025
- Business
- Fintech News ME
Switzerland's Leonteq Partners with Emirates Islamic on Shari'a-Compliant Structured Products
Leonteq, a Zurich-based fintech company, announced today the formation of a partnership with Emirates Islamic, a financial institution in the UAE, to manufacture and distribute Shari'a-compliant structured products. The collaboration builds on Leonteq's strategic move into the Gulf region. In 2022, the firm introduced a Shari'a-compliant trust certificate issuance programme through IBDAA Certificate Issuer (IBDAA), a dedicated Islamic issuance vehicle. Amanie Advisors, a recognised Shari'a advisory firm, has been engaged by Leonteq to provide guidance on the Shari'a aspects of the programme and subsequent initiatives involving IBDAA. Under this partnership, Emirates Islamic will co-develop certain trust certificates issued by IBDAA and offer these products through its distribution network. Leonteq will support the initiative by providing a full range of services, including issuance arrangements, Shari'a-compliant hedging, and lifecycle management. This collaboration marks a notable development in the Islamic structured product space, bringing together Leonteq's capabilities in investment solutions, structuring, and technology with Emirates Islamic's market presence, credit standing (rated A+ by Fitch), and reach in the UAE wealth management sector. Clients of Emirates Islamic will gain access to investment solutions that were previously limited in availability or scale. These products will be issued via IBDAA, which is among the first Islamic issuance entities able to offer a broad range of payoff structures across various asset classes, supported by automation and flexible investment thresholds. Christian Spieler, CEO of Leonteq, commented: 'We are proud to partner with Emirates Islamic, a top tier institution in the Middle East. This collaboration will allow clients of Emirates Islamic to benefit from Leonteq's longstanding expertise in white-labelling solutions and marks a milestone for Leonteq's growth ambitions in the Middle East.' Farid AlMulla, CEO of Emirates Islamic, said: 'We have always endeavoured to offer Islamic solutions that make a difference in the lives of our customers and beyond. This new partnership will enable our clients, in particular, to benefit from an even bigger product universe that further enhances their investment choices and access to global markets.' Emirates Islamic, a member of the Emirates NBD Group, was established in 2004. It offers a wide range of Shari'a-compliant retail, business, and corporate banking services through a network of 40 branches across the UAE.
Time of India
09-06-2025
- Business
- Time of India
Julius Baer sees consumption revival in India taking stocks to record high
Julius Baer Group is expecting Indian stocks to hit a new high in the second half of the fiscal year, as domestic consumption recovers. 'The biggest theme going forward will be a revival in consumption in India,' Nitin Raheja, head of discretionary equities at Julius Baer India, said in an interview. One third of his portfolio is in consumption-linked themes, and he's increasing bets on retailers focused on tier-two cities and apparel firms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo Lower- and middle-income segments will lead the pickup in India's consumer spending, aided by slowing inflation, abundant monsoon rains and income-tax cuts, said Raheja, who oversees portfolio management services and alternative investment funds for the Zurich-based wealth manager in India. There was a K-shaped recovery in India after the Covid-19 pandemic, and the bottom part which suffered the most will likely now see a revival, he added. Live Events While elevated valuations could keep the market 'range-bound' in the next few months, Raheja expects the benchmark NSE Nifty 50 Index to scale fresh highs after October, as consumer demand flows into corporate profits. The gauge is 4.6% away from its peak set in September and the central bank's jumbo rate cut Friday is further raising expectations of a record-breaking surge. 'Private consumption, the mainstay of aggregate demand, remains healthy, with a gradual rise in discretionary spending,' Reserve Bank of India Governor Sanjay Malhotra said Friday. 'Rural demand remains steady, while urban demand is improving.'
