Swisslog awarded major order in Singapore. Grocery Logistics of Singapore (GLS) has commissioned Swisslog as general contractor to design and implement its new automated storage and CaddyPick distribution center in Singapore. GLS provides logistics and distribution services to FairPrice Supermarkets, one of the leading supermarket chains in Singapore. The order volume amounts to approx. MSGD 50 (approx. MCHF 35). Link: Click Here

Panalpina shifts power of decision closer to customer base. The Panalpina Group is putting in place three regional CEOs. The key role of the regional CEOs (RCEOs) for Europe/Middle East, Asia Pacific and the Americas will be to implement the recently defined Corporate Strategy 2014. Marco Gadola, Chief Financial Officer, will become the RCEO Asia Pacific. Link: Click Here

Swisscom: LTE pilot project in seven tourist regions starting today. You can now enjoy even faster surfing with your notebook on the Swisscom mobile network. This is possible thanks to the new LTE (Long Term Evolution) mobile communications technology, which will initially offer maximum transmission speeds of up to 100 mbps. Link: Click Here

CFT announces management changes. Compagnie Financière Tradition SA ("CFT") announces that Mr Stephen Jack, has decided to resign from his roles as Group CFO and a member of the Executive Committee in order to concentrate on his non executive positions outside the Group. Link: Click Here

Zehnder Group, with international operations in the indoor climate sector (radiators and ventilation systems), is to take over Sanpan Isıtma Sistemleri Sanayi ve Ticaret Ltd (Sanpan). The Turkish firm, located in Manisa, produces bathroom radiators for the European market. Zehnder Group is increasing its investment, which it has held since 2006, from 51% to 100%. Link: Click Here

Evolva to receive second milestone payment from Roche. During the collaboration Evolva has created numerous novel compounds with drug-like properties. Some of these compound show promising activity against a range of viruses, others against protein:protein interactions relevant for oncology. Link: Click Here

Barry Callebaut: The ordinary Annual General Meeting of Barry Callebaut AG, the world's leading manufacturer of cocoa and chocolate products, was held on Thursday, December 8, 2011, in Zurich-Oerlikon under the chairmanship of Andreas Jacobs, Chairman of the Board. All motions proposed by the Board were adopted. 1,314 shareholders attended the meeting, representing 4,147,603 shares or 80.22% of the share capital. Link: Click Here

The Peach Property Group, one of the leading developers of top-quality residential property in the German-speaking part of Europe, has achieved an advance sales rate of 41% for the second stage of construction of the Harvestehuder Weg 36 (H36) real estate project on the Outer Alster in Hamburg. In the past four weeks alone, the deeds have been drawn up for apartments worth a total value of CHF 14.3 million (EUR 11.4 million), thereby increasing the initial registration level by 16% in only a short time.  Link: Click Here




Economy
********

 
Focusing on credit concerns. Barcalys expected the Governing Council meeting to focus heavily on the provision of bank liquidity, and, in this context, the decisions were bolder than we had expected. In particular, there will now be two three-year LTROs (longer-term refinancing operations), and a halving of reserve requirements (from 2% to 1% of eligible deposits, which apply to about EUR10trn of deposits). Reserve requirements currently amount to about EUR206bn, so this is a significant increase in available collateral to banks. Link: Click Here
 

ECB announces widespread and bold measures to assist bank financing. We had expected today's Governing Council meeting to focus heavily on the provision of bank liquidity, and in this context the decisions were bolder than we had expected. In particular, there will now be two three-year LTROs (longer-term refinancing operations), and a halving of reserve requirements (from 2% to 1% of eligible deposits, which apply to around EUR10trn of deposits). Reserve requirements currently amount to around EUR206bn and so this is a significant increase in available collateral to banks. Link: Click Here