LIDESWITZERLAND · DAILY CLIPPING
Daily Clipping · Edition of

Thursday, 29 October 2026

News published from 28 Oct 2026, 14:00 to 29 Oct 2026, 09:30 (Zurich time), plus 28 Oct morning items not covered yesterday

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Top 5 of the day

  1. TCU sets the 2027 CBS reference rate at 11.3%; the Senate now has to fix it by resolutionIt is the first hard number for Brazil's new federal VAT, which companies need for 2027 pricing, contracts and systems.
  2. Brazil markets day three: Ibovespa falls 2.68% to 171,006 as banks slide and futures rates climbThe fiscal repricing is spreading from the currency to bank equity and the rates curve ahead of Copom on 3–4 Nov.
  3. Vontobel lifts assets under management to a record CHF 255.1bn; private clients bring new money while institutional business sees outflowsSwiss private banking keeps attracting private-client money, relevant for Brazilian families and bankers who book assets in Switzerland.
  4. Banco Inter, Ripple and stablecoin issuer Avenia file for BCB crypto licences as Friday's deadline nearsWith banks and global players filing, Brazil's crypto market is consolidating into a bank-grade regulated perimeter, which matters for counterparties and for Swiss crypto banks seeking Brazilian partners.
  5. ETH spin-off ANYbotics starts shipping its explosion-proof ANYmal X robot after field trials with Petrobras and other energy majorsPetrobras's participation gives Swiss deep tech a concrete route into Brazil's oil and gas sector.
14 of 14 items shown

01Brazil–Switzerland relations

No significant news.

02Macro, politics & other

BRMacro, politics & other

Brazil markets day three: Ibovespa falls 2.68% to 171,006 as banks slide and futures rates climb

On 28 Oct the Ibovespa closed down 2.68% at 171,006 points, its third straight loss and lowest close since 20 August. Banks led the fall (Bradesco -6.68%, Santander -5.88%, Itaú -3.42%, Banco do Brasil -3.39%), and DI futures rose along the curve on doubts about fiscal policy and the new economic team. The dollar eased 0.19% to R$5.34 after the Fed held rates.

Why it matters for LIDE membersThe fiscal repricing is spreading from the currency to bank equity and the rates curve ahead of Copom on 3–4 Nov.

Agência Brasil 2026-10-28B3 Bora Investir 2026-10-28Suno Notícias 2026-10-28

03Events

  • 22 JanFri 09:00
    LIDE Suíça

    Brazil Economic Forum – EFTA–Mercosur FTA

    LIDE Switzerland's forum on what the EFTA–Mercosur free trade agreement means for trade and investment between Brazil, Europe and Switzerland, with CEOs, investors, founders and public leaders. Save the date: registration opens by mid-November; places subject to confirmation.

    LIDE Suíça · Zürich (venue to be confirmed)
  • 06 NovFri 18:30

    Im SHED trifft Pinot Noir auf Wild

    Members' Big Bottle Dinner: four-course game menu with a 2018 Malanser Pinot Noir (Weingut Studach) from 9-litre bottles. Host approval required.

    SHED Zug · SHED Zug, Dammstrasse 16, Zug · CHF 415
  • 12 NovThu 18:30

    SHED Cigar Circle Monthly Brand mit Plasencia: Il Cielo in deiner Hand

    Launch of SHED's Monthly Brands series with the Plasencia tobacco family. CHF 50 cigar and cocktail; CHF 125 with dinner.

    SHED Zug · SHED Cigar Lounge, Dammstrasse 16, Zug · CHF 50 / CHF 125
  • 26 NovThu 18:30

    SHED Cigar Circle Talk: «Zigarrenmekka Zug»

    Historian Michael van Orsouw on why Zug became a cigar hub; talk, two-course menu, cigar and drink.

    SHED Zug · SHED Zug, Dammstrasse 16, Zug · CHF 150
  • 07 DecMon 19:00

    Trust Circle: The Future Of Global Wealth

    Invitation-only evening during Abu Dhabi Finance Week with Crypto Oasis: about 60 guests on capital flows, private markets and digital assets. Request to join.

    Trust Square · Al Maryah Island, Abu Dhabi

Every week

Event calendars: LIDE Suíça · SHED Zug · Trust Square

04Taxes & wealth planning

BRTaxes & wealth planningMacro, politics & other

TCU sets the 2027 CBS reference rate at 11.3%; the Senate now has to fix it by resolution

The Tribunal de Contas da União approved an 11.3% reference rate for the CBS, the federal tax on goods and services that replaces PIS/Cofins from 1 Jan 2027, calibrated to keep federal revenue neutral. It also set a 44.16% reduction for purchases by the direct public administration, autarchies and public foundations. The Senate must now fix the rate by resolution; if it does not act, 11.3% applies from January. The government expects R$636bn from the CBS and R$41.9bn from the Imposto Seletivo next year.

Why it matters for LIDE membersIt is the first hard number for Brazil's new federal VAT, which companies need for 2027 pricing, contracts and systems.

Agência Senado 2026-10-28

05Private banking & wealth management

CHPrivate banking & wealth management

Vontobel lifts assets under management to a record CHF 255.1bn; private clients bring new money while institutional business sees outflows

Vontobel reported assets under management of CHF 255.1bn at 30 September, up CHF 14.4bn since end-2025, helped by markets (CHF 8.7bn) and currencies (CHF 5.5bn). Reported net new money was CHF 1.9bn: Private Clients brought in CHF 3.8bn (CHF 1.3bn in Q3) with inflows in every region, while Institutional Clients lost CHF 2.0bn, including Quality Growth outflows and Raiffeisen taking the Futura fund mandate in-house. No profit figures were given.

Why it matters for LIDE membersSwiss private banking keeps attracting private-client money, relevant for Brazilian families and bankers who book assets in Switzerland.

Vontobel 2026-10-29finews.com 2026-10-29cash.ch (Reuters) 2026-10-29
CHPrivate banking & wealth managementMacro, politics & other

Lex UBS: National Council committee agrees to debate tougher capital rules for foreign subsidiaries but is split on how far to go

The National Council's economic affairs committee (WAK-N) voted to take up the bill on capital backing for foreign subsidiaries of systemically important banks, but members disagreed on how strict it should be. The Federal Council, backed by the SNB and FINMA, wants 100% CET1 coverage, the Council of States voted for 90%, and UBS wants a 50/50 split of CET1 and specially designed AT1. The committee will decide on 23–24 Nov, ahead of the winter session.

Why it matters for LIDE membersThe outcome sets UBS's capital burden and so shapes the Swiss private-banking landscape serving Brazilian wealth.

cash.ch (AWP) 2026-10-28
CHPrivate banking & wealth management

Zurich wealth manager Bellecapital hires a five-adviser team from Rathbones in London

Bellecapital, a Zurich wealth manager with about CHF 6bn under management, has hired five client advisers from Rathbones in London, bringing its UK team to twelve relationship managers. The firm sees the UK as a growth market but does not publish UK figures.

Why it matters for LIDE membersSwiss independent wealth managers are seeking growth abroad, a model for EAM-style firms that serve Brazilian clients.

finews.com 2026-10-29

06Private Market

CHPrivate MarketMacro, politics & other

Glencore keeps its 2026 guidance, with copper at the low end, and expects marketing EBIT above USD 5bn

Baar-based Glencore produced 201.6kt of copper in Q3, 2% more than in Q2, for 598.6kt year to date, up 3% or 12% adjusted for the Mount Isa closure and the Kidd sale. Cobalt fell 52% year to date because of DRC export quotas. All 2026 guidance stands, with copper at the lower end of 810–870kt, and Glencore again expects marketing adjusted EBIT above USD 5bn.

Why it matters for LIDE membersGlencore anchors the Swiss commodity-trading hub, and its outlook sets the tone before Vale's Q3 results tonight.

Glencore (RNS via Investegate) 2026-10-29
CHPrivate MarketPrivate banking & wealth management

Garbe opens a Zurich private-capital unit to bring family offices into real-asset club deals

Hamburg real-estate and infrastructure group Garbe, with more than EUR 15bn under management, has set up Garbe Private Capital in Zurich, led since 1 October by Peter Paschke, formerly of a Zug single family office. It will offer family offices, private banks and entrepreneurial families club deals, co-investments and joint ventures in logistics, residential, hotels, data centres and infrastructure, alongside capital from Garbe's own shareholder families.

Why it matters for LIDE membersIt is a new co-investment channel into European real assets for Swiss-based Brazilian family offices.

finews.com 2026-10-28

07Crypto & digital assets

BRCrypto & digital assetsFintech

Banco Inter, Ripple and stablecoin issuer Avenia file for BCB crypto licences as Friday's deadline nears

Banco Inter said it has applied for crypto-provider (SPSAV) authorisation through a new subsidiary, Inter Digital Assets, and Ripple announced a filing that also covers international transfers. Avenia, issuer of the real-pegged stablecoin BRLA, began its process covering custody, intermediation, FX and payment accounts. Counts of filings published on 28 Oct range from 21 to 24, against the BCB's early-2025 estimate of about 100 applicants.

Why it matters for LIDE membersWith banks and global players filing, Brazil's crypto market is consolidating into a bank-grade regulated perimeter, which matters for counterparties and for Swiss crypto banks seeking Brazilian partners.

Blocknews 2026-10-28Bitnotícias 2026-10-28Bitnotícias 2026-10-28Exame Future of Money 2026-10-28
BRCrypto & digital assets

After Friday: higher capital bar, a second audit phase and a 6 Nov ban on banks dealing with unlicensed crypto firms

Lawyers quoted by Bitnotícias say minimum capital under the final BCB rules usually starts at R$10.8m and can reach R$37.2m. The first filing phase, due 30 Oct, requires three years of audited financial statements (IN BCB 704), followed by a reasonable-assurance technical report within 60 days of a favourable opinion (IN BCB 739). From 6 Nov, Resolução BCB 589 bars BCB-authorised institutions from transactions whose counterparty is an unauthorised crypto provider, subject to exceptions.

Why it matters for LIDE membersFrom 6 Nov, Brazilian banking rails close to non-filers, so members should check that their crypto counterparties are in the BCB process.

Bitnotícias 2026-10-28GSGA Advogados 2026-09-25
BRCrypto & digital assets

CVM chief Otto Lobo: tokenisation is 'the only way' to supervise Brazil's capital market

In a speech at a fund-law congress in São Paulo, reported on 28 Oct, CVM president Otto Lobo said the market's growth and complexity require new supervisory infrastructure based on tokenisation, proposing a cloud data lake processed with AI. He cited a fund industry of about R$11.5tn across roughly 34,000 funds; no rule change or timetable was announced.

Why it matters for LIDE membersIt signals the regulator's long-term direction on tokenised funds, relevant to Swiss tokenisation and DLT players looking at Brazil.

Livecoins 2026-10-28

08AI & Infrastructure

CHAI & Infrastructure

Federal Council notes interim report on AI regulation; binding rules go to consultation in spring 2027

On 28 Oct the Federal Council took note of progress in implementing the Council of Europe AI Convention, including an OFCOM report on sector-specific AI measures and a toolkit with model text for voluntary AI codes for companies and associations. The Federal Office of Justice is drafting binding measures on transparency, data protection, non-discrimination, oversight and risk assessment, with consultation planned for spring 2027. Switzerland keeps horizontal rules only where fundamental rights are at stake and regulates everything else sector by sector.

Why it matters for LIDE membersIt gives a timeline and a light-touch benchmark to set against Brazil's still-pending AI bill (PL 2338/2023) for members using AI in both jurisdictions.

Inside IT 2026-10-28ICTK 2026-10-28Swiss IT Magazine 2026-10-28
BRAI & InfrastructurePrivate Market

Endeavor Brasil relaunches Scale-Up with a first cohort of 17 AI-native startups

Endeavor has restarted its Scale-Up programme in Brazil after a two-year pause with 17 AI-native startups, most founded in 2024–2026, picked from 80 pre-selected companies. The five-month programme can lead to investment from Endeavor's Scale-Up Ventures fund (R$160m under management), and at least three themed cohorts are planned for 2027, including agribusiness, deep tech and biotech. NeoFeed gives the cohort's combined venture funding as R$219m–240m in different places on its page.

Why it matters for LIDE membersIt is a curated pipeline of early-stage Brazilian AI companies for family offices and Swiss investors in the network.

NeoFeed 2026-10-28

09Fintech

No significant news.

10University spin-offs & innovation labs

BR–CHUniversity spin-offs & innovation labsBrazil–Switzerland relationsAI & Infrastructure

ETH spin-off ANYbotics starts shipping its explosion-proof ANYmal X robot after field trials with Petrobras and other energy majors

ANYbotics, an ETH Zurich spin-off, has begun deliveries of ANYmal X, a four-legged inspection robot certified to ATEX and IECEx explosion-protection standards for oil, gas and chemical sites. Petrobras, BP, Equinor, Shell, PETRONAS, BASF and SLB tested it in an early-access programme, and the first units go to Equinor and DSM-Firmenich. The company says it has more than 50 customers running over 120,000 autonomous inspections a month; no financial terms were disclosed.

Why it matters for LIDE membersPetrobras's participation gives Swiss deep tech a concrete route into Brazil's oil and gas sector.

Startupticker.ch 2026-10-28
CHUniversity spin-offs & innovation labsAI & Infrastructure

Swiss deep tech: EPFL and Bern spin-offs get FIT seed loans; ZuriQ signs a quantum hardware supply deal

The Foundation for Innovation and Technology granted CHF 100,000 Tech Seed loans to EPFL spin-off Biodelphis Therapeutics, University of Bern spin-off PolaSight and Swiss Soil. Separately, trapped-ion quantum company ZuriQ signed a multi-year framework agreement with cryogenic chip maker Rhonexum, with first delivery due by end-2026, and InVirtuoLabs and Nagi Bioscience will combine AI drug design with whole-organism testing.

Why it matters for LIDE membersIt shows how Swiss university research reaches commercial deals in quantum, AI and life sciences, a model Brazilian hubs such as USP and Unicamp can benchmark.

Startupticker.ch 2026-10-28Startupticker.ch 2026-10-29

Watchlist / upcoming

Editor's note
This edition was published by hand from the cloud, because the Mac publishing job could not be reached. The only Brazil–Switzerland link today is ANYbotics' robot trials with Petrobras; no Swiss official or chamber news on Brazil was found. Vale reports Q3 after the São Paulo close today and the SNB publishes interim results on 30 Oct, both outside this window. Swiss crypto and payments (TWINT, SIC) had no verifiable news. The events list is unchanged.

The Daily Clipping is published by LIDE Switzerland and covers news on the Brazil–Switzerland corridor. More about LIDE Switzerland at lidesuica.ch.