Archive – Banking & Fintech

Another Swiss ex-banker jailed over 1MDB scandal

This content was published on Jan 11, 2017 Jens Sturzenegger, a former manager of the Falcon Private Bank in the city state, was found guilty of money laundering and other charges. He was given a seven-month prison term and was ordered to pay a fine of 128,000 Singapore dollars (CHF90,785). The defendant had pleaded guilty to charges of failing to disclose a suspicious…

Famous figures have forgotten Swiss bank accounts

This content was published on Jan 11, 2017 Nearly 4,000 bank accounts in Switzerland are publicly listed as dormant. Put together, they bulge with well in excess of CHF52 million.

More workers forced to work shorter hours

This content was published on Jan 10, 2017 According to figures released by the State Secretariat for Economic Affairs (SECO) on Tuesday, the annual Swiss unemployment rate rose to 3.3% in 2016, a 0.1 point increase on the previous year. This may appear insignificant compared to the average European unemployment rate of 9.8% but it hides the very real problem of those forced…

Postfinance restores e-banking after computer glitch

This content was published on Jan 10, 2017 A spokesman for the bank told the Swiss News Agency on Tuesday that the bank’s 1.7 million customers had been able to use the online banking service since midday on Monday. The bank said the unidentified computer problem began on Sunday. PostFinance, the banking division of the Post Office, said in a statement on Monday that no…

Private banks eye Asia’s new super-rich

This content was published on Jan 10, 2017 As some western groups retreat, regional rivals are building up relations with the next generation.

When global leaders meet: WEF’s biggest moments

This content was published on Jan 9, 2017 How did a remote Swiss mountain resort become the site for the most important leaders from around the world to debate pressing global challenges?

Swiss technology in smartphones

This content was published on Jan 9, 2017 It’s a decade since the iPhone was launched and at least four Swiss companies have reason to celebrate its success. (SRF/swissinfo.ch)

Swiss central bank reports CHF24 billion annual profit

This content was published on Jan 9, 2017 The results were largely down to foreign currency holdings built up to weaken the strong Swiss franc, typically a safe haven currency. Foreign currencies, particularly the US dollar, gained in strength last year, boosting the SNB’s position. The central bank regularly buys euros, dollars and other currencies to prevent the franc from appreciating too much.…

Everyday essentials become costlier despite lower inflation

This content was published on Jan 5, 2017 Inflation has fallen in pricey Switzerland, but the cost of some of the more essential things in life keeps going up and up.

Swiss Falcon Bank manager charged amid 1MDB probe

This content was published on Jan 5, 2017 Singapore prosecutors have charged a Swiss manager of the Falcon Private Bank amid an ongoing investigation linked to 1MDB investment fund.

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