Archive – Banking & Fintech

Exchange rate controls could stay “for years”

This content was published on Sep 6, 2012 On September 6, 2011, the central bank imposed a SFr1.20 exchange rate floor against the euro to halt the rapid rise of the franc, which was threatening price stability and exporters. The SNB has recently been forced to buy up vast quantities of euros to defend its policy. One year on from the SNB’s watershed…

SNB independence put to the test

This content was published on Sep 6, 2012 When the SNB set a SFr1.20 exchange floor against the euro a year ago the strategy was first met with a chorus of sceptical criticism. Rightwing politicians, led by the Swiss People’s Party, said it was too risky following the losses incurred in previous SNB interventions. The political left and trade unions accused the SNB…

Switzerland remains most competitive economy

This content was published on Sep 5, 2012 The Global Competitiveness Report, released on Wednesday, cites Swiss innovation and its efficient labour market as the country’s greatest strengths, followed by its sophisticated business sector. The quality of Switzerland’s research institutions, the high level of collaboration between the academic and business sectors and its high rate of product patenting also contributed to the ranking.…

Future challenges tax Swiss bankers

This content was published on Sep 4, 2012 The Swiss Bankers Association (SBA) identified rampant regulation, the global tax evasion row and barriers to key markets as the main challenges ahead. Swiss banks suffered a 3.8 per cent drop in turnover last year to SFr59.4 billion ($62 billion), the SBA reported on Tuesday. Profits (SFr13 billion) and the number of employees (108,100) remained…

Swiss GDP shrinks in last quarter

This content was published on Sep 4, 2012 Exports of goods and services including tourism declined 0.8 per cent from the previous quarter, the State Secretariat for Economic Affairs (Seco) reported on Tuesday. Exports of services fell 0.9 per cent, and goods excluding foreign trade with precious metals, jewellery, art and antiques dropped 0.7 per cent. Positive growth came from the export of…

An bester Adresse (Nationalbank ORIGINAL)

This content was published on Sep 4, 2012 1912 wurde der rechtlich-administrative Berner Sitz der Nationalbank in Bern eröffnet. Das dreiköpfige Direktorium selbst arbeitet hingegen am Zürcher Sitz. Die reich illustrierte Chronik “Die Schweizerische Nationalbank in Bern” erlaubt ungewohnte Einblicke in die Institution und zeichnet ihre Geschichte nach.

Ex-UBS executives found guilty of fraud

This content was published on Sep 1, 2012 While employed at UBS, the three men participated in separate fraud conspiracies and schemes with various financial institutions between 2001 and 2006, the United States Department of Justice said. Evidence at the trial established that the fraud cost municipalities and the US Treasury millions of dollars. Friday’s conviction brings to 19 the number of people…

Bank fees “not unfair” to Swiss abroad

This content was published on Sep 1, 2012 The price watchdog office investigated several complaints about “unfair” banking fees from Swiss citizens living in other countries, but found that the levies were so varied that clients could shop around to avoid them. A survey of 32 banks found that half did not charge extra fees to overseas clients and that of those that…

Industrial Switzerland: a glimpse into the past

This content was published on Aug 31, 2012 In Switzerland, land not suitable for agricultural purposes was used to practise trades and crafts, from which many industries emerged. Swiss industrialisation benefited from the country’s central position in Europe and from the absence of an aristocracy, which curbed private enterprise in other countries. Until 1860, Switzerland was even self-sufficient, making use of the raw…

Should Switzerland give up banking secrecy?

This content was published on Aug 30, 2012 The Swiss bank secrecy law, in force since 1934, concerns the protection of bank customers’ private information. Swiss banks have profited from the law reaping billions in foreign un-taxed assets. In recent years, those profits became problems for the Swiss banking sector as the United States and several European countries lined up to protest and…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Exchange rate controls could stay “for years”

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SNB independence put to the test

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Switzerland remains most competitive economy

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Future challenges tax Swiss bankers

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Swiss GDP shrinks in last quarter

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An bester Adresse (Nationalbank ORIGINAL)

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Ex-UBS executives found guilty of fraud

More

Bank fees “not unfair” to Swiss abroad

More

Industrial Switzerland: a glimpse into the past

More

Should Switzerland give up banking secrecy?

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Most Discussed