Archive – Banking & Fintech

Families get tax break in election year

This content was published on Jun 17, 2003 The decision, which comes as the Swiss gear up for national elections in October, is opposed by the cantons. Under Switzerland’s complicated three-tier tax system, they stand to lose over SFr500 million in revenue. The cantons will decide on Friday whether to call a nationwide vote on the issue. There were even grumblings in the…

Swiss focus on global desertification

This content was published on Jun 17, 2003 Switzerland – as one of 187 parties to the United Nations Convention to Combat Desertification (UNCCD) – has spent millions of Swiss francs on battling the phenomenon. More than four billion hectares of the world’s surface are affected by desertification, which has nothing to do with the expansion of existing deserts and everything to do…

Euro fails to make inroads in Switzerland

This content was published on Jun 16, 2003 A new study reveals that the franc remains the most popular currency in Switzerland, and that the euro has not become a major competitor. Switzerland is not a member of the European Union, but the euro has been accepted as payment for goods and services in many shops and restaurants since the notes and coins…

Zurich continues asset overhaul

This content was published on Jun 16, 2003 The deal reflects Zurich’s strategy to refocus on its core business and return to profitability after several years of financial troubles. The sale, which fell short of the SFr1 billion price tag originally put on Threadneedle – one of Britain’s largest fund managers – comes two weeks after Zurich offloaded most of its United States…

Museum honours Swiss kings of the road

This content was published on Jun 14, 2003 Although Saurers are no longer being built, an exhibition celebrating the famous trucks has opened in Lucerne. Exhibition curator, This Oberhänsli, says the company represents a classic story of Swiss industrial success. “Saurer was one of the first industrial products from Switzerland which made it around the world, which is something that not many Swiss…

Government launches economic rescue package

This content was published on Jun 13, 2003 The announcement came as economists downgraded growth forecasts for 2003 to 0.3 per cent. The economic research institute, Basel Economics (BAK), said the revision was due to the continued slump in consumer spending. The latest downbeat forecast coincided with the launch on Friday of a new programme, dubbed “InnoNation Switzerland”, aimed at boosting innovation. “We…

Imitation goods threaten Swiss producers

This content was published on Jun 13, 2003 They say imitation products are threatening livelihoods and undermining hard-won reputations. Swiss producers added their voice to a chorus of similar complaints by manufacturers from around the world at a conference in Geneva this week. The aim of the meeting was to highlight the problems faced by makers of specialised and regional goods, such as…

Social security spending continues to rise

This content was published on Jun 13, 2003 This was up six per cent – or SFr7 billion – on the previous year, with the lion’s share swallowed by the state pension scheme. The figures from the Federal Statistics Office show that Swiss spending on social security is now in line with member countries of the European Union (EU). In 2001 the bill…

Rural Alpine regions pin their hopes on tourism

This content was published on Jun 13, 2003 At a recent meeting in Willisau, various federal offices and public organisations announced new measures to promote sustainable development in rural mountain areas. “If you don’t have the Matterhorn to sell, you have to be creative,” Jürg Schmid of Switzerland Tourism told the gathering of tourism, agriculture and economics experts. Schmid went on to add…

Switzerland cracks down on cartels

This content was published on Jun 12, 2003 The legislation will give the Competition Commission greater power to fine companies which are found guilty of rigging prices and blocking competition. “The new law will give the Commission the possibility to impose sanctions against cartels immediately upon realising that they have violated the law,” Walter Stoffel, president of the Competition Commission, told swissinfo. Thursday’s…

Archive – Banking & Fintech

Popular Stories

Most Discussed