The public sector in Liechtenstein generated a budget surplus of just under 177 million Swiss francs in 2021. Both income and expenditure were down on the prior year. Government spending amounted to 22.6 percent of GDP.

The Hilti Group has recorded global sales of 2.14 billion Swiss francs in the first four months of 2023, which is 5.4 percent higher than the same period of the previous year. Double-digit growth was achieved in local currencies in Europe, America, and Asia/Pacific.

This quarter, operations are set to commence at three cross-border labs based in the Lake Constance region that covers four countries overall. With the participation of OST - Eastern Switzerland University of Applied Sciences, the labs will focus on developing and implementing solutions in the fields of mobility, the circular economy and sustainable digitization.

The food producer Hilcona has implemented measures at its Landquart site that aim to promote a more economical use of water. Processes have been improved, smart control solutions have been installed and awareness has been raised among employees.

Negotiations between the EFTA States and Thailand on a free trade agreement are moving forward. Significant progress has reportedly been made in this fourth round, and there is a stated intention to arrive at an agreement quickly.

The LLB Group is joining with Bank Linth to forge new strategic paths in the Swiss market. It is focused on achieving a faster pace of growth and technological and sustainable transformation. The joint LLB brand will be launched on July 1, 2023.

According to a survey, over 60 percent of passengers are once again very satisfied with Liemobil’s quality. Three out of four passengers feel safe on board the buses. Punctuality was a negative aspect. Most of those surveyed were annual pass holders.

The Financial Market Authority Liechtenstein (FMA) has released its annual report for 2022 and the latest edition of the “Liechtenstein Financial Centre” publication. In the FMA’s view, the Liechtenstein financial center has proven itself stable in a challenging environment.

In the center of Vaduz, work has started on the new office building for the Liechtensteiner Landesbank (LLB). It will provide space for 260 employees and is expected to be ready for use in summer 2025. HRS is the sole contractor.

Liechtensteinische Post AG has installed a parcel machine in both Vaduz and Balzers. The machines allow parcels to be picked up and returns to be processed irrespective of post office opening hours. At the beginning of 2022, Liechtensteinische Post commissioned the first parcel machines of this kind at four locations.

The Liechtenstein Bankers Association (LBA) has entered into a strategic cooperation with the Zug-based online games developer Operal AG. The aim is to raise awareness among users of sustainability and environmental responsibility via impact gaming.

As of 1 May, b_smart selection will be taking over Hotel Müllers in Arbon in the canton of Thurgau. Another b_smart hotel is scheduled to open in August 2023. The new building with 63 rooms and suites is within walking distance of Hotel Müllers. Guests will therefore have a choice of two hotels from the Liechtenstein hotel operator in future.

maXerial, a startup from Liechtenstein, has presented its newly developed 1-click AI trainer. The tool aims to simplify the process for creating and training artificial intelligence models.

The Green Mountain’s vegan pepper medallion has won a PETA Vegan Food Award 2023. The startup from Graubünden, which is part of Hilcona AG in Liechtenstein, previously won a PETA Vegan Food Award for its vegan chicken fillet last year.

LGT has been named as the winner of five “Euromoney” awards. In Europe, the bank took top spot for ESG Investing, Family Office Services and Ultra High Net Worth Individuals. For “Euromoney”, LGT is also the best private bank in the Middle East and the market leader in Austria in the area of ESG Investing.

Switzerland and Liechtenstein celebrated 100 years since the establishment of their customs treaty on March 29. Federal President Alain Berset and Hereditary Prince Alois of Liechtenstein took part in the celebrations in Vaduz.

The Liechtenstein financial market is developing in positive fashion despite the recent turbulence in the North American and Swiss banking sectors. This is the conclusion reached by the committee responsible for monitoring and strengthening financial market stability in Liechtenstein.

The Liechtenstein Bankers Association is seeking to reduce its carbon footprint. To this end, it is working with the environmental platform KlimaDAO. Together, its operational emissions in both 2021 and 2022 were able to be offset.

In the 2022 financial year, the LLB Group increased Group net profit by 8 percent year on year to just under 150 million Swiss francs. Operating income came in above 500 million Swiss francs for the first time ever. In the reporting year, the LLB Group also generated net new money totaling 3.6 million Swiss francs.

Markus Heinz has been appointed as the new CEO of the Ivoclar Group. The current COO of the dental company is set to replace Diego Gabathuler, who has performed the role of CEO over the past four years. In the previous financial year, the group generated record sales of 872 million Swiss francs.