JUST IN: Doris Leuthard elected Swiss president

Centre-right politician, Doris Leuthard, will serve as Swiss president next year, the parliament decided on Wednesday in Bern.

 

Report says the leadership post goes to a different cabinet minister every year.

 

Leuthard, a Christian Democratic People’s Party member, has served as minister for environment, transport, energy and communication.

 

A former proponent of nuclear power, Leuthard has become the architect of Switzerland’s plan to gradually shut down its reactors.

 

Referendum voters in November supported her view that a rapid phase-out would do more harm than good.

 

Having been in government for more than 10 years, the 53-year-old politician is currently Switzerland’s longest-serving cabinet member.

 

However, she had already served as president once, in 2010.

 

Leuthard succeeded Economics Minister Johann Schneider-Ammann as president.

Swiss Defend Title Of World’s Richest People

The Swiss are the richest people in the world, with an average wealth of 561,900 dollars per adult, Credit Suisse said in its annual global wealth report on Tuesday.

This confirms Switzerland’s top ranking for the 16th year in a row.

People in the United States trailed with assets worth 344,700 dollars, followed by the British average net worth of 288,800 dollars, the major Swiss bank said in Zurich.

The depreciation of the pound that followed Britain’s vote to leave the EU has wiped out a total 1.5 trillion dollars of the country’s total privately held assets, Credit Suisse noted.

For the first time since the global financial crisis of 2008, the global average wealth per adult stagnated in 2016, at 52,800 dollars.

The report also showed that the share of people’s non-financial assets as part of their household wealth has increased for the first time this year since 2008.

Rising real estate prices have added to private wealth in several countries including Germany, according to the report.

The group of super-rich people, who own at least 50 million dollars, rose by 4,100 individuals to a total of 140,900 over the past year, driven by increases in Asian countries.

Credit: NAN

Adamawa gets 12 mining licenses, signs $5 bn exploration pact with Swiss firm

The Adamawa Mining Company Limited says it has acquired 12 licenses for Solid Minerals explorations in the state.

Mrs Shanti Shashi, the state Commissioner of Solid Minerals Resources, disclosed this in an interview with the News Agency of Nigeria (NAN) in Yola on Tuesday.

Shashi said the state government had also signed a five billion dollars agreement with a Swiss company, BTP Swiss Sovereign Asset, for the exploration of solid minerals in the state.

Shashi said that the agreement was signed in June 2016 and would last for three years.

“Adamawa Mining Company has acquired 12 solid minerals exploration licenses from Federal Government.

“ The Company has signed five billion dollars agreement with BTP Swiss Sovereign Asset to mine Gold, Diamond, Lead Zinc, Bitumen, Barites, Uranium, and Platinum.

“ The investor is a world-class renowned mining company that can generate a lot of revenue and employment for the state,” Shashi said.

Shashi said the state government also signed a contract agreement with Dangote Cement for the establishment of cement factory in Guyuk Local Government Area of the state.

According to the commissioner, the development will create more revenue and employment for the state and the country at large.

She said that another reputable foreign investor, Smart Group International, had submitted a letter of intent to the government for the establishment of cement factory in Lamurde Local Government Area.

She added that Group’s intention to establish the cement factory was due to huge deposits of gemstones discovered in the area.

“A draft Memorandum of Understanding is in place with Orca Energy Company of the United Kingdom for the recovery of alluvial, Gold, Diamond and other gemstones from Rivers Faro and Benue.

“As well as the establishment of state of art equipment and mineral testing laboratory and jewellery plant in the state,” she said.