Archive – Banking & Fintech

Most Swiss gold is exported to Asia

This content was published on Feb 20, 2014 The Asian market, including countries such as Hong Kong, India and Singapore, was the primary purchaser of Swiss gold and silver bullion and coins in January 2014, according to the customs administration. The top five purchasers were all countries in Asia, and made up more than 80% of the total worth of CHF6.9 billion ($7.8…

Tax evasion controversy shifts east

This content was published on Feb 18, 2014 Philip Marcovici, who has advised governments such as Liechtenstein on addressing the crackdown on tax evasion, spoke to swissinfo.ch after recent revelations from the International Consortium of Investigative Journalists. The ICIJ has accused Swiss banks of helping relatives of Chinese leaders set up opaque financial structures in far flung tax havens. The ICIJ claims, using…

Swiss banks welcome global tax standard

This content was published on Feb 13, 2014 The Swiss Bankers Association (SBA) said in a statement on its website that it had contributed to the drafting of the standard. It welcomed the fact that the foreign authorities receiving data on a bank’s non-domestic clients will have to adhere to strict data protection rules and that any information they receive may solely be…

Despite full wallets, sharing finds a Swiss home

This content was published on Feb 12, 2014 “We don’t absolutely need the money…it was really just about meeting new people and improving my English,” says Elizabeth*, who, together with her boyfriend, hosts travellers in Bern through the online sharing platform Airbnb, a website and app that facilitates renting out private apartments or rooms. She estimates that they bring in about CHF500 ($555)…

China now Switzerland’s third-largest trading partner

This content was published on Feb 10, 2014 Switzerland is one of very few countries which has a trade surplus with China and Hong Kong, writes SCS, a non-profit organisation which supports Swiss companies setting up business in Asia. This currently stands at CHF2.1 billion ($2.3 billion). SCS quotes Swiss Federal Customs Administration figures showing that Swiss goods to the value of CHF…

150 years: a milestone in diplomatic relations

This content was published on Feb 6, 2014 The original document, seen here, is in the Swiss Federal Archives. Swiss President Didier Burkhalter has been in Japan for the anniversary celebrations, which started in the presence of Japanese Emperor Akihito. Burkhalter’s programme included official talks with Prime Minister Shinzo Abe and Foreign Minister Fumio Kishida. Japan is Switzerland’s fourth-largest global trading partner and…

The cost of making Gstaad skiable

This content was published on Feb 6, 2014

Credit Suisse posts mixed results

This content was published on Feb 6, 2014 It missed expectations with a small increase in fourth-quarter net profit after increased legal costs arising from United States probes into alleged tax evasion and the sale of mortgage-backed bonds. For the fourth quarter, net profit stood at CHF267 million, a little up from CHF263 million a year ago, when the bank said efforts to…

Syngenta profits take a tumble

This content was published on Feb 5, 2014 In October of last year, Syngenta had warned that its profits would be down for the year because of a $170 million write-down on seed stocks. “Our financial performance in 2013 did not meet expectations,” said Chief Executive Mike Mack in a statement. “While this was mainly due to non-recurring costs in our seeds business,…

UBS ‘now out of the woods’

This content was published on Feb 4, 2014 The bank appears finally to have shrugged off the turbulent past six years, which featured massive losses during the financial crisis, an embarrassing state bailout, a crippling tax evasion crackdown in the United States and a string of fines for market malpractice. UBS responded to the crisis by offloading risky deals, slashing its investment banking…

Read more: UBS ‘now out of the woods’

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Archive – Banking & Fintech

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Most Swiss gold is exported to Asia

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Tax evasion controversy shifts east

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Swiss banks welcome global tax standard

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Despite full wallets, sharing finds a Swiss home

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China now Switzerland’s third-largest trading partner

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150 years: a milestone in diplomatic relations

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The cost of making Gstaad skiable

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Credit Suisse posts mixed results

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Syngenta profits take a tumble

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UBS ‘now out of the woods’

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