Uznach - LLB Switzerland is set to open a new branch on Claridenstrasse in Zurich. In addition, another new branch in St.Gallen is expected to be added during the summer. With this, LLB Switzerland is, as previously announced, in the process of expanding its branch network across the country.

Vaduz - The financial sector of the Principality of Liechtenstein remains stable despite the array of risks in evidence at international level. This is the conclusion reached by the Financial Stability Council. The macroprudential supervisory body will continue to keep an eye on the development of profitability in the banking sector and any risks on the commercial real estate market.

Vaduz - LGT has claimed a total of seven prizes at this year’s Euromoney Private Banking Awards. The industry magazine named LGT best private bank globally and in Western Europe. LGT additionally won another five awards in India and its domestic market of Liechtenstein.

Schaan - The Hilti Group increased its operating result in financial year 2023 to 770 million Swiss francs. The completion of the global rollout of the cordless Nuron platform contributed to this result in particular. In addition, the Schaan-based tool manufacturer acquired the 4PS Group during the reporting year.

Schaan - The food producer Hilcona is promoting the cultivation and processing of robust potato variants. These should be more climate-resistant and require the use of fewer plant protection agents. Moreover, there is a focus on avoiding food waste in connection with post-harvest sorting and processing.

Vaduz - Ideenkanal is once again using its “ideas camps” to look for innovative projects and start-up ideas. Five dates are planned for 2024. The next round will be held on April 18 in Vaduz and will be offered in “pocket format” for the first time. In future, the ideas competition will focus on specific topics.

Vaduz - Innosuisse, the Swiss Innovation Agency, is supporting a project of the University of Liechtenstein and St.Gallen-based start-up Helga.works. The aim of the project is to achieve fairer distribution of royalties in the music industry.

Vaduz - LGT recorded total operating income of 2.57 billion Swiss francs in financial year 2023, which corresponds to growth of 11 percent in comparison with the previous year. At 21.9 billion Swiss francs, the Private Banking and Asset Management Group increased net asset inflows by 8 percent in total.

Bad Ragaz/Balzers - INFICON increased its sales by 15.9 per cent in 2023. The company achieved sales of $673.7 million in full-year 2023, and sales in the fourth quarter rose by 9.5 per cent to reach $174.5 million.

Vaduz - Karin Schick has been named as the new director of the Hilti Art Foundation with effect from the start of April. The renowned art historian succeeds Uwe Wieczorek in this role. The long-standing director of the foundation has announced his intention to retire.

Schaan - More than nine in ten passengers using public transport in Liechtenstein are satisfied with the services on offer. Nearly as many also award good marks to the value for money of LIEmobil services. These are findings from a survey carried out by the transport company. However, a need for action has also been identified in terms of missed connections.

Abu Dhabi/Geneva - Ministers and high-ranking representatives of the EFTA states and Chile have acknowledged the conclusion of their modernized free trade agreement. The meeting took place on the fringes of the 13th WTO Ministerial Conference in Abu Dhabi.

Vaduz - The University of Liechtenstein is heading up the Erasmus+ project Pathfinder, in which four European institutions are working to anchor artificial intelligence (AI) in higher education. The planned measures include development of a learning program for students.

Vaduz - The Center for Philanthropy at the University of Liechtenstein has launched an online platform for everybody involved in the charitable sector. This platform is intended to support donors and volunteers.

Vaduz - The LLB Group has increased profit in financial year 2023 by around +10 percent to just under 165 million Swiss francs. Moreover, the net new money inflow amounted to 1.4 billion Swiss francs.

Vaduz - Hoval is investing a sum of 20 million euros in the expansion of its site in Hoyerswerda. By doubling the production area, the company’s subsidiary Yados GmbH is attempting to meet rising demand for heat pumps.

Bad Ragaz/Balzers/Chur - INFICON and the University of Applied Sciences of the Grisons have agreed a partnership to offer a dual study course. Both sides expect the collaboration to result in the transfer of knowledge and technology as a measure to combat the shortage of skilled workers.

Bangkok - The EFTA member states of Switzerland, Liechtenstein, Norway and Iceland have made significant progress in the eighth round of negotiations with Thailand for a Free Trade Agreement (FTA). The two parties are now hopeful that negotiations can be successfully concluded before the end of this year.

Ruggell - Lian Management is working towards establishing the Swiss payment solution Twint in Liechtenstein. However, regulatory obstacles must first be cleared. The company, which is headquartered in Liechtenstein, presently offers payment solutions in partnership with the Emmen-based payment service provider Sitto Payment.