Switzerland Commecial Real Estate – Immo Gironde http://immo-gironde.com/ Fri, 16 Sep 2022 23:17:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://immo-gironde.com/wp-content/uploads/2021/05/immo-gironde-icon-150x150.png Switzerland Commecial Real Estate – Immo Gironde http://immo-gironde.com/ 32 32 Latest banking news, September 15, 2022 https://immo-gironde.com/latest-banking-news-september-15-2022/ Fri, 16 Sep 2022 19:32:06 +0000 https://immo-gironde.com/latest-banking-news-september-15-2022/

Chris Ratcliffe/Bloomberg

Credit Suisse Group has lost a pair of senior bankers to rivals. New York-based Daniel Cavalli is joining Morgan Stanley as chief executive, according to people with knowledge of the matter who asked not to be identified as details are private. Cavalli led the bank’s financial institutions and mergers and acquisitions coverage groups in Latin America, as shown in his LinkedIn profile. He joined Credit Suisse in 2000 after two years at Lehman Brothers. Amit Melwani, managing director of consumer and retail mergers and acquisitions, is joining Bank of Montreal, people with knowledge of the matter said. Melwani has had two stints at the Swiss bank since 2011 and was briefly director of mergers and acquisitions for Burger King of Restaurant Brands International Inc., as shown in his LinkedIn profile. Representatives from Credit Suisse, Morgan Stanley and BMO declined to comment. The struggling Swiss lender has lost several bankers in recent months to firms such as Truist Financial, which hired financial sponsors cover banker Hayes Smith, and Bank of America, which hired Prescott Johnson to broker energy and infrastructure. He also made up for some losses with hires including Maxence de Gennaro de Lazard. Credit Suisse board members have floated the idea of ​​giving senior bankers stakes in the investment banking industry, Bloomberg News reported last week. —Crystal Tse and Gillian Tan, Bloomberg News ]]> The metaverse real estate market will explode: Cryptovoxels, Linden Lab, Axie Infinity https://immo-gironde.com/the-metaverse-real-estate-market-will-explode-cryptovoxels-linden-lab-axie-infinity/ Fri, 16 Sep 2022 16:07:30 +0000 https://immo-gironde.com/the-metaverse-real-estate-market-will-explode-cryptovoxels-linden-lab-axie-infinity/

This press release was originally distributed by SBWire

New Jersey, USA – (SBWIRE) – 09/17/2022 – The latest study released on the global Metaverse real estate market by AMA Research assesses the market size, trend and forecast to 2027. The Metaverse Real Estate Market Study covers significant research data and evidence to be a handy resource document for managers, analysts, industry experts, and other key individuals to have study-ready access and self-analyzed to help understand market trends, growth drivers, upcoming opportunities and challenges and about competitors.

Key players in this report include:
Axie Infinity (Vietnam), Cryptovoxels (Wellington), Decentraland Foundation (China), Linden Lab (USA), Somnium Space LTD. (UK), SuperWorld Inc. (USA), TandB Media Global Thailand Co. LTD. (Thailand), The Sandbox (United States), The Voxel Agents (Australia), Tokens.com (Canada).

Download Sample PDF Report (including full TOC, Table and Figures) @ https://www.advancemarketanalytics.com/sample-report/193200-global-metaverse-real-estate-market#utm_source= SBWire/Suraj

Definition:
Real estate in the metaverse is a high-priced business, comparable to the real world, where costs are primarily based on location, population, and demand and provide a ratio “when there is increasing demand for land in the metaverse in a certain area then the costs automatically become excessive CEO of crypto asset finance association Tokens.com Avatar of Andrew Kiguel on undeveloped trend property in the metaverse Courtesy by Andrew Kiguel The metaverse refers to a range of systems that develop digital worlds where customers can socialize, attend digital concerts, play games, shop and promote things.

Market factors:
Growing popularity among the population
Investment on the rise in the Metaverse real estate market
Growing inclination towards NFTs in the metaverse environment

Market opportunities:
Improved user security and high trust among users
Technological advances in device security

The Metaverse Global Real Estate Market segments and market data breakdown are shown below:
per end user (commercial, residential), component (hardware, software)

The Global Metaverse Real Estate Market report highlights insights regarding current and future industry trends, growth patterns, as well as offers business strategies to help stakeholders to make sound decisions that can help ensure the trajectory of earnings over the forecast years.

You have a question ? Start Survey Before Buy @ https://www.advancemarketanalytics.com/enquiry-before-buy/193200-global-metaverse-real-estate-market#utm_source=SBWire/Suraj

Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, United Arab Emirates, Israel, Egypt, etc.)
North America (United States, Mexico and Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia).

Report objectives
To carefully analyze and forecast the Metaverse Real Estate market size by value and volume.
-Estimate the market shares of the main segments of the Metaverse Real Estate
-To present the development of Metaverse Real Estate market in different parts of the world.
-Analyze and study the micro markets in terms of their contributions to the Metaverse real estate market, their prospects, and individual growth trends.
-To offer accurate and helpful details about factors affecting the growth of Metaverse Real Estate
-Provide a meticulous assessment of crucial business strategies employed by major companies operating in the Metaverse real estate market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments and product launches.

Buy Now Full Metaverse Real Estate Market Assessment @ https://www.advancemarketanalytics.com/buy-now?format=1&report=193200#utm_source=SBWire/Suraj

Main highlights of the table of contents:

Metaverse Real Estate Market Research Coverage:
It includes major manufacturers, emerging players growth story and major business segments of Metaverse Real Estate market, years considered and research objectives. Further, segmentation based on product type, application, and technology.
Executive Summary of Metaverse Real Estate Market: It provides a summary of global studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, together with macroscopic pointers.
Metaverse Real Estate Market Production by Region Metaverse Real Estate Market profile of manufacturers-players is studied on the basis of SWOT, their product, production, value, financials, and other vital factors.

Key Points Covered in Metaverse Real Estate Market Report:
Overview, Definition and Classification of Metaverse Real Estate Market Drivers and Barriers
Metaverse Real Estate Market Competition by Manufacturers
Metaverse Real Estate Market COVID-19 Impact Analysis
Metaverse Real Estate Capacity, Production, Revenue (Value) by Region (2021-2027)
Metaverse Real Estate Supply (Production), Consumption, Export, Import by Region (2021-2027)
Metaverse Real Estate Production, Revenue (Value), Price Trend by Type {}
Metaverse Real Estate Market Analysis by Application {}
Metaverse Real Estate Manufacturers Profiles/Analysis Metaverse Real Estate Manufacturing Cost Analysis, Industry/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by major manufacturers/players, standardization of connected distributors/traders, regulatory and collaborative initiatives, industry roadmap and analysis of value chain market effect factors.

Browse Full Summary & TOC @ https://www.advancemarketanalytics.com/reports/193200-global-metaverse-real-estate-market#utm_source=SBWire/Suraj

Answers to key questions
How feasible is the Metaverse real estate market for long-term investment?
What are the factors influencing the demand for Metaverse Real Estate in the near future?
What is the impact analysis of various factors on the growth of the Global Metaverse Real Estate Market?
What are the recent regional market trends and how successful are they?

Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

For more information on this press release, visit: http://www.sbwire.com/press-releases/metaverse-real-estate-market-is-going-to-boom-cryptovoxels-linden-lab-axie -infinity-1363741.htm

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​Norges partners with Swiss Life and invests 438 million euros in properties in Berlin and Paris | New https://immo-gironde.com/norges-partners-with-swiss-life-and-invests-438-million-euros-in-properties-in-berlin-and-paris-new/ Fri, 09 Sep 2022 10:57:17 +0000 https://immo-gironde.com/norges-partners-with-swiss-life-and-invests-438-million-euros-in-properties-in-berlin-and-paris-new/

Norges Bank Investment Management (NBIM) is investing 438 million euros in majority shares in two large office and retail buildings located in the center of Paris and in Berlin, via a new joint venture with Swiss Life.

Swiss Life said an investment vehicle targeting core, primarily commercial, real estate assets in Berlin and Paris had been created for the two partners to invest in, which would be managed by Swiss Life Asset Managers.

A spokeswoman for NBIM, which manages the Norwegian government’s NOK 12 billion (€1.2 billion) pension fund, confirmed it was the first time it had invested with Swiss Life.

The parties said the partnership has so far signed two agreements, to buy VoltAir – a new mixed-use building located at Voltairstrasse 8-10 in Berlin – and 86 Boulevard Haussmann, an office building in central Paris. .

NBIM said it was buying a 65% stake in the two properties, with Swiss Life holding the rest.

Both agreements were signed yesterday, with completion expected in February 2023 for VoltAir and December 2022 for 86 Boulevard Haussmann, NBIM said.

The Oslo-based SWF manager said it would pay 297 million euros for its stake in VoltAir, valuing the property at 457 million euros, and 141 million euros for its stake in the Parisian asset, valuing this property at 217 million euros.

The sellers of VoltAir – which includes approximately 30,000 m² of office and retail space – are ABG Real Estate and Gaedeke & Sons, while the 11,000 m² Boulevard Haussman property is being sold to the new partnership by Swiss Life Assurance and Patrimoine, Swiss Life Providence and Health and Swiss Life Assurances de Biens, according to NBIM.

The Norwegian institutional investor said the two assets would not be debt-encumbered and no financing would be involved in the transaction.

Swiss Life Asset Management, which will manage the assets of both properties, said the Berlin and Paris assets were fully leased.

Stefan Mächler, Group CIO at Swiss Life, said: “We are delighted to partner with an experienced and financially sound institutional investor with a long-term investment horizon.”

To read the latest edition of the latest IPE Real Assets magazine, click here.

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Reshoring, friend-shoring, energy and food security will shape the risk landscape: Swiss Re https://immo-gironde.com/reshoring-friend-shoring-energy-and-food-security-will-shape-the-risk-landscape-swiss-re/ Fri, 09 Sep 2022 09:12:56 +0000 https://immo-gironde.com/reshoring-friend-shoring-energy-and-food-security-will-shape-the-risk-landscape-swiss-re/

Analysts from the Swiss Re Institute have concluded that the “friendly shoring” of supply chains to allied countries and the relocation of production capacity domestically, investments in green energy and the alleviation of a crisis will shape the risk landscape and likely increase investment in the real economy.

The world has seen many changes since the start of the pandemic and the war in Ukraine, events like these have exacerbated de-globalization and created an environment where concerns about supply chain resilience, energy and food security prevail.

It is against this backdrop that analysts conducted the study, “Maintaining Resilience: The Role of P&C Insurers in a New World Order,” which highlighted how vital insurance is becoming to the economy.

Jérôme Haegeli, Group Chief Economist at Swiss Re, said: “Six months after the start of the war in Ukraine, our world has changed dramatically. Triggered by war and the pandemic, we are moving from an interconnected world to a multipolar world facing disrupted supply chains, energy and food crises.

“Insurance is becoming even more vital to the economy, contributing to the financial stability of businesses by covering supply chain risks. The industry can also facilitate the transition to a green economy by insuring and investing in renewable energy infrastructure, and by expanding agricultural insurance, it can contribute to global food security.

Tremor - The Modern Way to Place Reinsurance

According to the report, the restructuring of the supply chain is expected to create investment in new infrastructure and production facilities, thereby increasing the demand for engineering insurance.

The relocation is expected to generate an additional $30 billion in global commercial insurance premiums over the next five years, primarily from engineering, property and liability coverages. Friend-shoring would add $3 billion in premiums. On the other hand, maritime and commercial credit premiums would decline slightly as world trade is expected to slow.

Gianfranco Lot, Head Globals Reinsurance at Swiss Re, said: “In the changing risk landscape, commercial property and casualty insurance will remain a pillar of resilience, for example by helping companies maintain financial stability as conditions operating change, providing solutions to help reduce cash. the volatility of flows and the stabilization of profits during the realignment of supply chains. »

Moreover, while the effects of climate change have highlighted the importance of a green transition, Russia’s invitation to Ukraine has also added new urgency to the shift to renewable energy, the report notes.

Since the construction and operation of renewable energy assets involves a complex set of risks, analysts at Swiss Re have pointed out that the insurance industry can play a key role in enabling its expansion. This could be done by providing hedges to protect against the complex risks inherent in building and operating renewable energy infrastructure.

Analysts also noted that since renewable energy is only one part of the green transition, more investment in decarbonizing all sectors of the economy would be needed.

The Swiss Re Institute estimates that if countries complete the construction of all the renewable energy capacity they have targeted so far, the investment would generate additional energy sector premiums of $237 billion. here 2035.

Analysts have warned that with the transition to a green economy requiring global efforts, fragmentation based on geopolitical and security concerns could potentially hamper the required global coordinated action.

Adding to these issues, food prices have soared due to supply chain disruptions from the pandemic and the war in Ukraine. Additionally, extreme weather conditions like droughts and heavy rains in major agricultural countries have led to poor harvests, further pushing up prices, the report noted.

With these problems combined with a growing population, food security has become all the more paramount. As a result, according to Swiss Re, agricultural insurance has emerged to play a key role in helping farmers maintain their income levels and continue farming even in the face of crop failures.

Global agricultural insurance premiums are expected to reach $80 billion by 2030, up from $46 billion in 2020, the report concludes.

Printable, PDF and email version
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Sovereign wealth funds will be subject to more taxes in the UK https://immo-gironde.com/sovereign-wealth-funds-will-be-subject-to-more-taxes-in-the-uk/ Wed, 07 Sep 2022 06:26:28 +0000 https://immo-gironde.com/sovereign-wealth-funds-will-be-subject-to-more-taxes-in-the-uk/

The UK government has launched a consultation on proposed changes to sovereign immunity from direct taxation. The tax team explains what could change.

The UK’s current sovereign immunity regime is generous compared to its international counterparts, in that it exempts all sovereign persons (heads of state, government and state entities such as sovereign wealth funds) British direct taxation, emanating from the international doctrine of the sovereign state. immunity – that one state should not bind another to its laws. The proposed changes would restrict sovereign immunity and bring the UK regime closer to that of the United States and Australia. Sovereign wealth funds (SWFs) are among the entities that will be affected.

The current regime

Currently, income and gains derived from an independent foreign government or an independent foreign head of state (and their spouse) and of which they are the only direct beneficiaries are exempt from all direct taxation. This is the case even when that income or gain is the result of commercial activity, rather than related to the performance of their sovereign duties. The UK is an exception in that it has not reduced the scope of sovereign immunity – so far.

How would that change?

Generally speaking, the government seeks to restrict sovereign immunity to interest income originating in the UK, as long as it is not related to business activities undertaken in the UK. This would include immunity for interest on savings, interest on debt and income from government securities originating in the UK, but exclude income generated from property investment and development. The UK does not currently tax overseas investors on UK sourced dividend income, so it is proposed that immunity need not refer to it.

We can look at the proposed amendments through two lenses, that of the natural person and that of the non-natural person.

For individuals, the only income that will be exempt will be interest income originating in the UK, insofar as it is not linked to commercial activities carried on in the UK. This includes interest on savings from the UK, interest on debt, income from government securities, bonds and debentures. Trading profits will be taxed in the same way as any other non-UK resident. In addition, the government proposes to restrict any immunity from direct taxation to the foreign head of state (ie to remove the immunity of his spouse).

Non-individuals (eg governments and associated bodies such as central banks, sovereign wealth funds and government pension funds) will generally be treated as non-resident UK companies and subject to corporation tax. companies. The consultation stresses that immunity should remain for passive and portfolio-type investments and that income from debt and equity investments will be exempt from tax.

The proposed changes are not all negative, however – whereas currently eligibility for sovereign immunity for constituent territories of a federated state such as the United States or Switzerland must be granted on a case-by-case basis, the new legislation proposed would extend eligibility to these constituent territories. However, the generosity does not extend to the municipal authorities.

What impact will this have on the people involved?

The government is seeking views on its proposed amendments, which would come into force in April 2024, until September 12, 2022.

The changes could make certain sovereign persons liable for UK tax (including capital gains tax, income tax, inheritance tax and corporation tax) for the first time . In particular, sovereign entities, including sovereign wealth funds, will be subject to tax on transactions carried out through a permanent establishment in the UK, the trading or development of land and the profits of a real estate business in the UK. This would include dividends on property income from holdings in real estate investment trusts (REITs) and registered investment funds (PAIFs), and UK property income from holdings in transparent collective investment schemes for income.

The change in the tax treatment of capital gains, in particular, could create unfair results, if gains accrued before the changes become taxable if disposed of after April 2024. To counter this, the government is proposing to introduce transitional measures rules to ensure that affected persons are not subject to tax on capital gains accrued prior to the entry into force of the amendments. Sovereign persons currently considered exempt could write down the cost of their acquisitions for capital gains tax purposes to their market value on the date the new rules come into effect.

In addition, the government has pointed out that any changes to sovereign immunity eligibility for institutional investors could have implications for other existing tax legislation, such as that relating to REITs, substantial holding exemptions, qualifying asset holding companies, long-term asset funds, exempt unauthorized unit trusts. and collective investment vehicles. They will carefully examine the operation of each of these regimes alongside the reforms they propose.

Practically, Sovereign Immune Status applications will be available through an online questionnaire. It is proposed that once a person is granted sovereign immunity status, they will retain that status unless their relationship to the sovereign state changes. At this stage, it would be the sovereign person’s responsibility to notify HMRC of such a change.

The proposed changes will also have jurisdictional implications: once the UK abandons absolute immunity from direct tax liability, the government believes it is consistent to allow UK courts to enforce any fiscal obligation to which sovereign persons become subject. This also means that the existing compliance procedures and rules in place for direct taxes will normally apply to sovereign persons, including the imposition of interest and penalties where appropriate.

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China steps up arbitration of international trade disputes: report https://immo-gironde.com/china-steps-up-arbitration-of-international-trade-disputes-report/ Mon, 05 Sep 2022 08:33:00 +0000 https://immo-gironde.com/china-steps-up-arbitration-of-international-trade-disputes-report/

The China International Economic and Trade Arbitration Commission released the annual report on international commercial arbitration in China (2021-2022) in Beijing on September 5, 2022. Photo: GT

China released an annual report on international commercial arbitration on Monday, which shows that China’s status in international arbitration has improved over the past year.

Efforts have been made in arbitration cooperation between China and the Association of Southeast Asian Nations (ASEAN) to deepen their economic and trade relations and facilitate regional connectivity, as well as with members Regional Comprehensive Economic Partnership (RCEP).

The China International Economic and Trade Arbitration Commission (CIETAC), which ranked among the top five most preferred arbitration institutions in the world in 2021, inaugurated an ASEAN CIETAC Testing Center in Nanning on August 16. , in Guangxi Zhuang Autonomous Region, as one of the latest efforts by CIETAC to improve refereeing work.

“We established this test center to better serve the regional cooperation of ASEAN and RCEP,” Wang Chengjie, vice president and general secretary of CIETAC, said Monday at a press conference for the release. of the Annual Report on International Commercial Arbitration in China (2021-2022).

Wang said that CIETAC would take the opportunity to bring cooperation between ASEAN and RCEP member countries in dispute settlement to a new level, facilitate the development of the new economy and provide guarantees. of support needed to build an even closer China-ASEAN community. with a shared future.

In 2021, 270 arbitration boards nationwide handled a total of 415,889 cases, valued at 859.3 billion yuan ($123.9 billion), up 19.6 percent year-on-year, according to the report. report.

In terms of types, 208,711 financial files were processed nationwide in 2021, or 50.18% of total files, while the number of real estate files reached 37,162, or 8.94%.

According to the report, there were 1,352 commercial arbitration cases involving foreign companies in 2021. Among them, CIETAC accepted 636 foreign-related cases and 136 Belt and Road-related cases. “. There were 61 cases where both sides were non-Chinese, and a total of 93 countries and regions were involved in jurisdictions, including South Korea, UK, US, Singapore, Germany , Japan, Switzerland, India, Russia, Indonesia, Pakistan. , the Cayman Islands and the British Virgin Islands.

As more international commercial arbitration cases have been accepted and concluded in China, CIETAC and the Guangzhou Arbitration Commission (Online GZAC) have gained a more international reputation.

They have been officially listed as Asia-Pacific Economic Cooperation (APEC) Online Dispute Resolution (ODR) providers and were listed on the official APEC website on May 1, 2022.

According to the Ministry of Justice, the decision is of positive significance to enhance the international influence of Chinese arbitration institutions in internet arbitration and better serve cross-border business dispute resolution for micro, small and medium-sized enterprises.

CIETAC is one of the world’s leading permanent arbitration institutions, which resolves international, foreign and domestic commercial disputes through arbitration. CIETAC was established in 1956 under the China Council for the Promotion of International Trade (CCPIT).

Over the past 60 years, CIETAC has been committed to providing independent, impartial and efficient arbitration legal services to Chinese and foreign entities. According to the China International Commercial Court, CIETAC has heard more than 40,000 international arbitration cases in total.

world times

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$500 million advisory team joins UBS in Sherman Oaks, California https://immo-gironde.com/500-million-advisory-team-joins-ubs-in-sherman-oaks-california/ Fri, 02 Sep 2022 15:30:00 +0000 https://immo-gironde.com/500-million-advisory-team-joins-ubs-in-sherman-oaks-california/

SHERMAN OAKS, Calif., September 2, 2022–(BUSINESS WIRE)–UBS Wealth Management USA today announced that a four-person team managing over $500 million in client assets has joined the firm in Sherman Oaks, California. Led by Managing Director and Financial Advisor Roshan Ghaznavi and Financial Advisor Matthew Seukunian, the team has built a successful business focused on the needs of clients before and after retirement.

“We are delighted to welcome Roshan, Matthew and their team to UBS as we continue to grow our business in this important market,” said Jim Kottoor, Greater Los Angeles Market Head at UBS Wealth Management USA. “We remain focused on recruiting and retaining the most productive advisors in the industry, and we are excited to add their expertise to our team.”

Roshan holds the Certified Retirement Planning Advisor designationSM (CRPC®). He and his team take a holistic approach to wealth planning and seek to address the multitude of challenges when planning for retirement, including timing of retirement and long-term care.

“Roshan and Matthew have shown incredible dedication to helping clients navigate the retirement process from start to finish,” said Jaspreet “Jesse” Puri, Executive Director and Branch Manager, Sherman Oaks and Bakersfield at UBS. US Wealth Management. “They bring with them an impressive level of experience that will be a great asset as we continue to grow our presence in the San Fernando Valley region.”

Prior to joining UBS, Roshan spent 14 years as a wealth advisor and managing director at Merrill Lynch Wealth Management, where he provided investment strategies to senior executives, business owners, entrepreneurs, retirees and their families. Previously, he spent 10 years at Citi Smith Barney. Roshan is passionate about helping families address the unique financial concerns of loved ones with disabilities and is personally involved with many charities and local organizations in the community. He previously served on the board of West Hills Hospital.

Matthew started his career as a financial adviser in 2021 after spending seven years working in corporate journalism and commercial real estate. Previously, he spent time at Merrill Lynch Wealth Management where he provided wealth management and planning strategies tailored to the unique needs of his clients.

The team also includes customer service associates Paulina Shavagyan and Anita Kazanjian.

Paulina has worked in the financial services industry for over ten years, helping the team deliver exceptional customer service in every interaction. Anita has spent over 10 years in the financial services industry serving clients of different demographics and financial needs in the Southern California region.

Notes to Editors

About UBS

UBS brings together the global investment ecosystem, where people and ideas are connected and opportunities are realized, and provides advice and financial solutions to high net worth, institutional and corporate clients worldwide, as well as private clients in Swiss. UBS offers investment solutions, products and thought leadership, is the world’s leading wealth manager, provides diversified and large-scale asset management, focused investment banking capabilities and retail banking services and to companies in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient, and have attractive long-term structural growth or profitability prospects.

UBS is present in all the major financial centers of the world. It has offices in more than 50 regions and sites, with approximately 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people worldwide. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

© UBS 2022. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220902005064/en/

contacts

Media Contact:
Financial Profiles
Pat Burek
pburek@finprofiles.com

https://www.ubs.com

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Parkway Corp. is reportedly close to closing a deal to develop a 475,000 square foot downtown office tower for Chubb https://immo-gironde.com/parkway-corp-is-reportedly-close-to-closing-a-deal-to-develop-a-475000-square-foot-downtown-office-tower-for-chubb/ Thu, 01 Sep 2022 18:24:00 +0000 https://immo-gironde.com/parkway-corp-is-reportedly-close-to-closing-a-deal-to-develop-a-475000-square-foot-downtown-office-tower-for-chubb/

The parking lot owned and operated by Parkway Corp. at 20th and Arch streets in Philadelphia, seen in 2021.

Compared to some of the larger operators in the region, Parkway Corp. is somewhat new to commercial real estate development. But the company has a major asset, based on the business that has been at the heart of its identity for 90 years: land.

Parkway is set to strike a deal with property insurance giant Chubb for a custom-built SF 475K office building at 20th and Arch Streets, reports the Philadelphia Business Journal. Parkway currently operates parking on the site, just as it has at 22nd and Market streets, where it is now months away from completing a new headquarters for law firm Morgan Lewis & Bockius .

Chubb currently occupies just over 500,000 square feet in Old Town, just south of Independence Hall, split between the 361,000 square foot building it owns at 436 Walnut St. and a 140,000 foot lease. square at The Washington, Keystone Development + Investment’s 880K SF office building at 510 Walnut St.

Requests for comment to Chubb, Parkway and Keystone all went unanswered.

Chubb has been rumored to be on the hunt for a new bespoke office in Philadelphia since at least 2019, when Brandywine Realty Trust offered part of its Schuylkill Yards development to compete with the Parkway site. Philly has the largest group of employees of any city in the United States for the company based in Zurich, Switzerland.

Parkway claimed to have a tenant on hand for its plans at 20th and Arch when it sought support from the Logan Square Neighborhood Association for a zoning change. LSNA ultimately backed Parkway’s proposal, giving the developer the rights it needs to continue if and when its deal with Chubb closes.

Philadelphia’s office rental market has been mostly lifeless since the pandemic began, with owners of Class A buildings happy to spend extra cash converting office space into labs for tenants life sciences whenever possible.

But to the extent that companies using offices are willing to engage in further digging, they seem to only care about the absolute high end, as if to justify using a desk in the middle of the massive acceptance of remote and hybrid work.

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MTB Worlds: Nino Schurter of Switzerland wins 10th elite men’s XCO world title and more https://immo-gironde.com/mtb-worlds-nino-schurter-of-switzerland-wins-10th-elite-mens-xco-world-title-and-more/ Sun, 28 Aug 2022 17:31:29 +0000 https://immo-gironde.com/mtb-worlds-nino-schurter-of-switzerland-wins-10th-elite-mens-xco-world-title-and-more/

The incomparable Swiss rider Nino Schurter claimed his 10th elite men’s XCO world crown on Sunday, in the final race of the 2022 Mountain Bike World Championships in Les Gets, France. His nearest rival, Julien Absalon of France, has four.

David Valero (Spain) finished nine seconds behind for silver and Luca Braidot of Italy took bronze, another 20 seconds later. Tom Pidcock (Great Britain) managed to finish fourth.

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$1.3 billion winner from Illinois not claiming prize – NBC Chicago and more Breaking News Here https://immo-gironde.com/1-3-billion-winner-from-illinois-not-claiming-prize-nbc-chicago-and-more-breaking-news-here/ Fri, 26 Aug 2022 13:49:56 +0000 https://immo-gironde.com/1-3-billion-winner-from-illinois-not-claiming-prize-nbc-chicago-and-more-breaking-news-here/

A month ago, one of the biggest prizes in the history of the Mega Millions lottery in the United States fell, leaving only one winner in Illinois and burying the desire of millions of people who dreamed of winning the $1,337 million.

Despite the fact that several weeks have passed, the juicy prize remains unclaimed, which has raised all sorts of questions about what happened to the winner or if he simply seeks legal advice before going to the lottery. ‘Illinois.

The third biggest prize in Mega Millions lottery history fell last Friday, July 30, in Des Plaines, a town just 20 miles northeast of Chicago. The ticket was sold at a Speedway gas station.

If the winner chooses the annuity option, they will receive equal payments for 29 years. However, the luckiest can choose to take the cash, receiving around $780.5 million.

WHAT HAPPENS IF THE LUCKY LOST THE WINNING TICKET?

The Mega Millions lottery is not responsible for lost or stolen tickets, as explained on its website. This is why it is recommended that you sign the back of your ticket as soon as it is known that it is the winning ticket.

Anyone in possession of the ticket can claim the money. However, if this it is signed, only the person who signed it can cash it.

HOW LONG DO YOU HAVE TO CLAIM THE MONEY?

If no one claims the prize within the 12-month time limit established in Illinois, each state that participated in the game will reclaim all money that contributed to the unclaimed jackpot.

According to the Illinois Lottery, each state can use your unclaimed lottery prizes for various purposes.

However, the winner only has 60 days from the date of the draw to choose between cash or annual payment options.

WHAT IF THE WINNER DIES BEFORE THE ANNUAL PAYMENTS END?

If a winner dies before receiving all annual payments, the Mega Millions lottery will continue to pay the remaining payments to the winner’s designated beneficiary or the winner’s estate, if determined prior to death.

Winners who choose the annuity method will receive an immediate payment followed by 29 annual Mega Millions payments.

CAN THE WINNER REMAIN ANONYMOUS?

Lottery winner identity disclosure laws vary from state to state. In Illinois, where the ticket was sold, the winner may remain anonymous when claiming their prize.

$1.3 billion winner from Illinois not claiming prize – NBC Chicago
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$1.3 billion winner from Illinois not claiming prize – NBC Chicago
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