Archive – Banking & Fintech

Banking secrecy remains secure at home

This content was published on Feb 22, 2012 However, the only Swiss political party to consider this option is the centre-left Social Democratic Party – and even then half-heartedly. “Is it never going to end?” is the reaction of many Swiss to the continual attacks on their banking secrecy from abroad. Not only Germany, Switzerland’s most important trade partner, but also the United…

Swiss business jumps on social media wave

This content was published on Feb 22, 2012 With the expansion of interactive Web 2.0 social media sites, the internet user has become the “king”, enabled to create online content in his or her own way. “Social media encourages cooperation and participative democracy. It’s a new form of communication without hierarchy, that is informal, provocative, personal, spontaneous, transparent and proactive,” said David Schäfer,…

Schindler profits fall

This content was published on Feb 21, 2012 The company said on Tuesday that profits for last year reached SFr611 million ($670 million), for revenues of SFr7.845 billion, down 4.1 per cent. Orders received declined by six per cent to SFr8.25 billion from SFr8.78 billion in 2010. In local currencies, they actually increased though by six per cent. Earnings before interest and taxes…

Trade gets early boost in 2012

This content was published on Feb 21, 2012 The Swiss purchased SFr14.624 billion ($16.06 billion) of goods and services from abroad at the beginning of the year, while exports for the same period totaled SFr16.177 billion, up 5.4 per cent over January 2011, according to figures from the Federal Customs Administration. Pharmaceuticals were a major contributor, with exports increasing by SFr577 million and…

Party ends for easy corporate tax relief

This content was published on Feb 20, 2012 Granted for five years, these arrangements are set to be negotiated much more stringently in 2012. The issue caused consternation in French-speaking Switzerland earlier this month when media reports revealed, shortly before the audit office published its report into the matter, that SFr23 billion ($25 billion) in profit made by foreign companies was exempt from…

Economic slump helps firms innovate

This content was published on Feb 20, 2012 Vaud-based precision engineering company Tesa is one of a few hundred Swiss small and medium-sized businesses (SMEs) to be awarded part of a SFr100 million ($107 million) economic stimulus fund. In the Lausanne suburb of Renens, an icy wind is blowing around the apartment blocks and over the roof of the Tesa factory. Inside, the…

Global trader cements Swiss roots with listing

This content was published on Feb 19, 2012 The company has grown to a significant size in recent years by helping other firms trade in foreign markets. Yet DKSH has a low profile in Switzerland where it has been dubbed the “silent giant” by the media. Parent company Diethelm Keller Holding, headquartered in Zurich, announced this week that it intends to publicly list…

Swiss come into US sights again over Iran

This content was published on Feb 18, 2012 At issue are new economic sanctions against Iran passed by the US Congress at the end of last year, and which come into force on July 1. Both the European Union and the US have imposed sanctions because they believe Iran is developing nuclear weapons. Iran says its nuclear progamme is for peaceful purposes only.…

Swiss clear sale of Orange Switzerland to Apax

This content was published on Feb 17, 2012 It was announced in December 2011 that the number three in the Swiss telecoms market would be sold to Apax for SFr2 billion ($2.2 billion). However, the move was subject to the go-ahead from the Swiss authorities. In a statement, Comco said that it had no objections to the deal. “The preliminary check has not…

Sarkozy denies tax haven slur

This content was published on Feb 16, 2012 He also denied he had treated his neighbour as a tax haven at the G20 summit in Cannes last year. Sarkozy was speaking on Wednesday in the French commune of Annecy, 35 kilometres south of Geneva, where he declared his candidacy for a second presidential term. “I never treated Switzerland as a tax haven. I…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Banking secrecy remains secure at home

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Swiss business jumps on social media wave

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Schindler profits fall

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Trade gets early boost in 2012

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Party ends for easy corporate tax relief

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Economic slump helps firms innovate

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Global trader cements Swiss roots with listing

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Swiss come into US sights again over Iran

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Swiss clear sale of Orange Switzerland to Apax

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Sarkozy denies tax haven slur

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