SGS is pleased to announce the acquisition of Baseefa Limited, Buxton, UK. Baseefa is a world-renowned certification body for equipment in hazardous environments including product certification within the IECEx scheme and the ATEX directive. In addition, Baseefa operates a testing laboratory and offers training courses in safety in hazardous environments. Link: Click Here

BKW Group: Groupwide cost reduction and workforce measures. In October the BKW Group announced a Groupwide productivity enhancement and cost reduction programme with a view to further developing its market position. It has now launched an additional package of measures which, when implemented, will enable BKW to achieve the targeted reduction in controllable costs and ensure the company's economic stability. Link: Click Here

Basilea Pharmaceutica Ltd. (SIX:BSLN) today announced that Joachim Blatter has been appointed Chief Financial Officer (CFO) of Basilea Pharmaceutica International Ltd. Joachim Blatter will join Basilea mid-January 2012 as Chief Financial Officer and member of the management committee. Link: Click Here
 

gategroup sells shareholding in USAS. Gate Gourmet Participations España S.L., a subsidiary of gategroup, has sold its entire 56.25 percent share of Uçak Servisi Anonim Şirketi (“USAS”), a publicly traded entity on the Istanbul Stock Exchange, to Turkraft Holding A.S. of Istanbul. Link: Click Here

Kudelski: STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications and a leader in set-top box ICs, has released the industry’s first validated drivers for OpenTV 5, the latest and most advanced set-top box middleware from NAGRA, a Kudelski Group (SIX:KUD.S) company and the world’s leading independent provider of value-added content protection and multi-screen television solutions. Link: Click Here



Economy
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Challenges Remain for Swiss Tourism Industry. Switzerland's winter sports destinations face major challenges. The strong economic upturn in the period from 2005 until 2008 failed to offset the fall in the number of overnight stays between 1996 and 2001. In the winter season in particular, Austria – the most important foreign rival – shows a superior performance. Link: Click Here

European Financial Stability Facility Long-Term 'AAA' Rating Placed On CreditWatch Negative. On Dec. 5, 2011, Standard & Poor's placed its ratings on the 'AAA' rated sovereigns which guarantee the financial obligations of the European Financial Stability Facility (EFSF). Link: Click Here

German factory orders strongly rebound in October. Total German factory orders (sa) rose a substantial 5.2% m/m in October, significantly better than the consensus (+1.0%) and our forecast (+1.5%), on the back of a sharp drop in September slightly revised down to -4.6%. Link: Click Here