Archive – Banking & Fintech

Foreign currency reserves reach new high

This content was published on Jun 7, 2012 The Swiss National Bank (SNB) said on Thursday it had SFr303.8 billion ($318.05 billion) worth of foreign currency in its vaults at the end of May. This is a 28 per cent increase from the SFr237.6 billion reserves it had in April. SNB spokeswoman Silvia Oppliger said the increase was largely related to the central’s…

Swiss banks under fire over Madoff fraud

This content was published on Jun 7, 2012 Trustee Irving Picard hopes to recover several hundred million dollars generated through investments in feeder funds in Madoff’s former company. The complaints seek $354.9 million (SFr340 million) from Swiss private bank EFG Bank SA and $179.4 million from private bank Lombard Odier Darier Hentsch & Cie (LODH). The third one is the cantonal bank of…

Hunting scents for new bestsellers

This content was published on Jun 6, 2012 Swiss companies Givaudan and Firmenich purchase thousands of different natural raw ingredients – in addition to synthetic ingredients – from all corners of the globe. Often working in remote areas with local communities, sourcing of such materials is a delicate affair in which the health and sustainability of the communities is intricately tied to that…

Franc faces return to unwanted “safe haven” tag

This content was published on Jun 4, 2012 A Greek exit from the euro and the spread of panic to other debt-ridden countries threatens to turn the franc once again into a magnet for foreign investors. Having successfully taken the franc off the list of global safe havens with its SFr1.20 exchange rate floor against the euro last September, the Swiss National Bank…

Finding oases amid the Greek upheaval

This content was published on Jun 4, 2012 Pictures: Carl De Keyzer/Magnum

Political stability and finance boost Swiss ranking

This content was published on May 31, 2012 Hong Kong came out top in the 24th edition of the IMD’s annual publication ahead of the United States. Switzerland, which recorded its first ever podium finish after dropping from fourth to fifth last year, was followed by Singapore and Sweden. “Switzerland’s progression is also due to the international economic situation,” IMD economist Ann-France Borgeaud…

Accords clear parliamentary hurdle

This content was published on May 30, 2012 Despite opposition by the rightwing Swiss People’s Party and parts of the centre-left, both chambers clearly voted in favour of the bilateral treaties aimed at regularising funds and introducing a withholding tax for account holders. In two days of debate in the Senate and the House of Representatives, supporters mainly from the centre-right parties as…

Rags or riches: the biotech start-up

This content was published on May 30, 2012 However, starting such a company from scratch – never a simple task – has recently become harder with the raising of entry barriers, Christophe Reymond, chief scientific officer of Anergis, tells swissinfo.ch. An entrepreneurial spirit, a sound scientific basis and tenacity are required to persuade investors to pump money into the next big idea. The…

Swiss biotech industry weathers upset

This content was published on May 30, 2012 Merck announced in April that it would close down its Geneva operation, which employs 1,250 people. The plan will result in the largest layoff the city has ever seen and has been described by the union Unia as an earthquake. The move is particularly deplored as it is less than six years since Darmstadt-based Merck…

Migros to label products from Jewish settlements

This content was published on May 29, 2012 Migros says it wants to offer customers greater transparency because the Swiss government and the United Nations consider the settlements to be illegal under international law. Spokeswoman Monika Weibel said on Tuesday that Migros doesn’t support boycott calls by pro-Palestinian groups but does want to let customers decide which products they want to buy. She…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Foreign currency reserves reach new high

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Swiss banks under fire over Madoff fraud

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Hunting scents for new bestsellers

More

Franc faces return to unwanted “safe haven” tag

More

Finding oases amid the Greek upheaval

More

Political stability and finance boost Swiss ranking

More

Accords clear parliamentary hurdle

More

Rags or riches: the biotech start-up

More

Swiss biotech industry weathers upset

More

Migros to label products from Jewish settlements

Popular Stories

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