Archive – Banking & Fintech

Newspapers condone Swiss National Bank’s decision

This content was published on Jan 16, 2015 Constantly having to weaken the value of the Swiss Franc must have increasingly “robbed the SNB directors of sleep” wrote the Zurich-based daily newspaper the Tages-Anzeiger. But the bank is far from “off the hook”. If yesterday’s extreme increase in the value of the franc doesn’t correct itself, there will be “disastrous consequences” for the…

Swiss National Bank scraps exchange rate ceiling

This content was published on Jan 15, 2015 “This exceptional and temporary measure protected the Swiss economy from serious harm,” the SNB said in a statement on Thursday. “While the Swiss franc is still high, the overvaluation has decreased as a whole since the introduction of the minimum exchange rate. The economy was able to take advantage of this phase to adjust to…

Quick guide to what’s happened to the Swiss franc

This content was published on Jan 15, 2015 The Swiss National Bank took everyone by surprise by scrapping the euro cap on the franc. If you have only a vague idea what that means, read this.

Tamoil refinery to stop work in Switzerland

This content was published on Jan 14, 2015 Libyan-owned Tamoil's has announced plans to suspend operations at its refinery in south-western Switzerland as a result of heavy financial losses.

Kuoni bows out of tour operating

This content was published on Jan 14, 2015 The company organises and sells trips in Switzerland, Britain and numerous other countries. After a strategic assessment of the situation, Kuoni said a decision was taken to re-position the company and focus on “growth-oriented” aspects of the business, including supplying services to the global travel industry. The company put the sale down to a change…

Swiss financial centre reforms are a work in progress

This content was published on Jan 13, 2015 The Swiss government, the majority of parliament and the Swiss Bankers Association all have the objective of tax conformity. They have come to recognise that the financial centre must be clean to achieve international acceptance and remain competitive on the world stage. The next hurdle will be to pass examination by the Global Forum of…

Cross-border pizza trade cut into pieces

This content was published on Jan 12, 2015 Pizzas delivered from Germany must pass full customs inspections, Swiss customs authorities have decided, drawing ire from German business representatives. The regional chamber of commerce for the Swiss-German border region in Germany‘s Baden-Württemberg state last week announced that talks with Swiss authorities on finding an unbureaucratic solution to this problem had failed. The previous system…

SNB may consider changing exchange rate ceiling

This content was published on Jan 12, 2015 Baltensperger said in an interview with NZZ am Sonntag that fixing the Swiss franc at 1.20 euros is too rigid and that the SNB should adapt its policy so that it may react more flexibly. Since fixing the Swiss currency in September 2011, the central bank was forced to buy euros to keep the franc…

Domestic banks reject EU finance fusion

This content was published on Jan 8, 2015 A consortium of domestically-focused banks has warned against a financial services agreement between Switzerland and the European Union, as advocated by the recent Brunetti Report into the Swiss financial centre.

New flight plans outlined for WEF’s top guns

This content was published on Jan 8, 2015 For the first time, VIPs attending the World Economic Forum (WEF) will land their private jets at the military airport in Dübendorf near Zurich.

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Newspapers condone Swiss National Bank’s decision

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Swiss National Bank scraps exchange rate ceiling

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Quick guide to what’s happened to the Swiss franc

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Tamoil refinery to stop work in Switzerland

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Kuoni bows out of tour operating

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Swiss financial centre reforms are a work in progress

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Cross-border pizza trade cut into pieces

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SNB may consider changing exchange rate ceiling

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Domestic banks reject EU finance fusion

More

New flight plans outlined for WEF’s top guns

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