Archive – Banking & Fintech

Swiss to crack down on money laundering

This content was published on Feb 27, 2013 Also, people wanting to purchase real estate or luxury goods will not be able to put down more than CHF100,000 ($107,400) in cash, with the remainder of the transaction being carried out by financial intermediaries who are subject to the law on money laundering. Switzerland is under pressure to act from the Financial Action Task…

Roche promises greater access to trial data

This content was published on Feb 27, 2013 Roche said on Tuesday that it would work with an independent body of experts to “evaluate and approve” requests to access anonymised patient data and would support the release of full clinical study reports (CSRs) for all its licensed medicines via regulatory authorities. “We understand and support calls for our industry to be more transparent…

Hotel stays fall to seven-year low

This content was published on Feb 26, 2013 Overnight stays across Switzerland fell 4.9 per cent overall between 2008 and 2011 and fell another two per cent in 2012, according to the Federal Statistics Office. “People still love Switzerland, but their budgets are strained,” head of Switzerland Tourism Jürg Schmid told the press at an event announcing the figures. Schmid said although most…

History bites back at Swiss private banking

This content was published on Feb 22, 2013 But as the industry developed from humble beginnings, and grew into an international leader, it picked up many black marks along the way that still hang over today’s private banking players. “Originally all the banking houses across Europe were trading companies,” Youssef Cassis, professor of economic history at the European University Institute in Tuscany. “They…

Future of private bankers under the microscope

This content was published on Feb 22, 2013 The world of private banking faces an evolving landscape. The rate of new wealth creation in emerging economies eclipses that of Europe, volatile markets offer less returns and the global crusade against tax evasion has eroded banking secrecy. Many observers fear that the rarified atmosphere of the small, discreet family boutique in Switzerland has become…

Swiss Re reports 60 per cent increase in profit

This content was published on Feb 21, 2013 The increase in full-year earnings for the company was attributed to a 22 per cent increase in property and casualty reinsurance premiums, increased margins, investment gains, and the release of cash set aside for claims that did not materialise. The company on Thursday said it would propose a 17 per cent increase in its dividend,…

Novartis boss Vasella exits amid controversy

This content was published on Feb 21, 2013 “Personally, I have welcomed the wages that I have received,” a broadly smiling Vasella told Swiss television at the end of January after announcing his intention to stand down as chairman of the pharmaceuticals giant on February 22. Vasella stayed true to his word, accepting a so-called “non-compete” pay-out of up to CHF72 million ($78…

Thieves steal diamonds from Swiss aircraft

This content was published on Feb 19, 2013 The gang used two black cars in their daring raid late Monday, grabbed the cache of 120 parcels containing the stones and sped off into the darkness, said Anja Bijnens, spokeswoman for the Brussels prosecutor’s office. “They tried to pass themselves off as police officers,” Bijnens added. They reportedly wore outfits which resembled dark police…

Bringing natural gas to western Europe

This content was published on Feb 19, 2013 But to transport it, a pipeline needs to be built from Turkey to western Europe. Two projects are still competing for the contract, including one with Swiss participation, the Trans Adriatic Pipeline (TAP).

Nestlé posts 2012 profit of SFr10.6 billion

This content was published on Feb 14, 2013 Sales reached SFr92.2 billion in 2012, up from SFr83.6 billion in 2011, driven by beverages, dairy products, pet food, and bottled waters such as San Pellegrino and Perrier, the Vevey-based company said Thursday. Sales growth picked up again in the last quarter, also helped by demand for nutritional and health products, the company said. Last…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss to crack down on money laundering

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Roche promises greater access to trial data

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Hotel stays fall to seven-year low

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History bites back at Swiss private banking

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Future of private bankers under the microscope

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Swiss Re reports 60 per cent increase in profit

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Novartis boss Vasella exits amid controversy

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Thieves steal diamonds from Swiss aircraft

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Bringing natural gas to western Europe

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Nestlé posts 2012 profit of SFr10.6 billion

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