Archive – Banking & Fintech

Swiss banks under pressure

This content was published on Jun 4, 2003 Despite the reassuring results, Swiss unions are warning that more job cuts could be on the way soon. Switzerland’s banks last year saw their aggregate net profits drop nearly five per cent to SFr11.9 billion ($9.1 billion), according to the Swiss National Bank (SNB). Officials blamed the weaker performance on higher depreciation costs, which rose…

EU tax deal leaves Swiss banking secrecy intact

This content was published on Jun 4, 2003 The Swiss have already made clear they are prepared to transfer a levy on EU citizens’ investment income to Brussels, provided banking secrecy is upheld. The Swiss proposal would leave the country’s cherished banking secrecy intact because no information about account holders would be handed over without their consent. A deal between Bern and Brussels…

IMF advises Switzerland on ways to boost economy

This content was published on Jun 3, 2003 In one of its regular assessments of the state of the economy, the IMF said Swiss authorities should keep interest rates low and pursue a flexible monetary policy. The Washington-based Fund said Switzerland should continue to liberalise its product markets, which was being hampered by a lack of competition. Assuming a pick-up in external demand,…

Banks give indebted Cablecom one-month reprieve

This content was published on Jun 3, 2003 Cablecom remains on the verge of bankruptcy with debts of at least SFr3.7 billion ($2.8 billion). The Zurich-based company – which serves more than 50 per cent of Swiss cable viewers – was supposed to have had its debt problems resolved by the end of May. On Monday, the firm’s lenders agreed to extend the…

Old mills keep turning for the tourists

This content was published on May 31, 2003 Many of the mills, like the sawmill Schwarzwaldalp between Grindelwald and Meiringen, have been resurrected as tourist attractions. The Schwarzwaldalp sawmill was erected in 1896 in order to provide the planks, boards and beams for the construction of a grand hotel. It was the Belle Époque and tourists were flocking to the region to get…

Thumbs up for EU bilateral ties

This content was published on May 30, 2003 The first set of bilateral accords – seen as an alternative to EU membership – came into force on June 1, 2002. The economics minister, Joseph Deiss, says bilateral deals are currently the only politically acceptable way in Switzerland of forging closer ties with the EU. The Swiss made clear in a vote in 2001…

Swiss lift trade embargo on Iraq

This content was published on May 30, 2003 But the finance ministry said it would tighten restrictions on financial dealings with allies of the deposed Iraqi leader, Saddam Hussein. The government is to end the embargo on trade and money transfers as well as flight restrictions. “It’s due to the fact that the UN under resolution 1483 lifted the trade embargo on Iraq,”…

Zurich raises $500 million from Life sale

This content was published on May 30, 2003 Zurich – Europe’s fifth largest insurer by premiums – said the sale was consistent with its plan to move capital to non-life businesses. The Zurich-based insurer noted that it would keep some life insurance assets of Zurich Life, including Kemper Investors Life Insurance Co. It valued the assets it would retain at SFr645 million. “We…

Switzerland faces hefty bill for G-8

This content was published on May 30, 2003 Although the summit is not taking place on Swiss soil, the country is being forced to carry a significant share of the financial burden for security costs and lost business. The bill for providing military and police security in Switzerland during the three-day event on the southern shore of Lake Geneva is expected to top…

Stephan Eicher feat. Gazzè & Grönemeyer: Taxi Europa

This content was published on May 28, 2003

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss banks under pressure

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EU tax deal leaves Swiss banking secrecy intact

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IMF advises Switzerland on ways to boost economy

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Banks give indebted Cablecom one-month reprieve

More

Old mills keep turning for the tourists

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Thumbs up for EU bilateral ties

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Swiss lift trade embargo on Iraq

More

Zurich raises $500 million from Life sale

More

Switzerland faces hefty bill for G-8

More

Stephan Eicher feat. Gazzè & Grönemeyer: Taxi Europa

Popular Stories

Most Discussed