Archive – Banking & Fintech

Swiss ski resorts “must diversify to survive”

This content was published on Dec 6, 2011 These are the main conclusions of a Credit Suisse report that compares 31 Swiss winter resorts. Already plagued by the strong franc, Swiss resorts are also struggling with the lack of snow caused by unusually warm, dry weather. According to the comparative study published on Tuesday, Swiss resorts face major challenges for their long-term survival.…

Designer drugs placed on banned list

This content was published on Dec 6, 2011 Under the amended law on narcotic substances, the production, sale and use of 52 synthesised substances and seven classes of compounds are newly illegal. Switzerland is now on a par with neighbouring countries and therefore should avoid becoming a transit site for the illegal drugs market, according to the interior ministry and Swissmedic – the…

Putin clings to reduced majority in Russia

This content was published on Dec 5, 2011 Putin’s ruling party, United Russia, clung to a much-reduced majority in parliament after an election on Sunday that showed growing weariness with the man who has dominated Russia for more than a decade and who plans to return to the presidency next year. In the biggest electoral setback for Putin since he rose to power…

Business federation gloomy about outlook

This content was published on Dec 5, 2011 In a forecast presented to the media on Monday, it says the strong franc, continuing European debt crisis and the faltering world economy will bring the country to the brink of recession. It is now predicting an increase of only 0.5 per cent in gross domestic product (GDP) next year, whereas in June it expected…

Public outcry “set to topple banking secrecy”

This content was published on Dec 5, 2011 The global economic crisis has triggered a public outcry against tax havens which is here to stay, journalist and author Nicholas Shaxson told swissinfo.ch. Shaxson believes that Switzerland – and other global tax havens – cannot resist the rising tide of sentiment against the illicit offshore financial system for much longer. The only question is…

Glencore chief vows to hold onto shares

This content was published on Dec 5, 2011 Glasenberg, who is the single largest shareholder of the canton Zug-based commodities trader, made the comment in an interview in the 20 Minuten newspaper on Monday. Glasenberg is said to hold nearly 16 per cent of company stock. Glencore started trading on the stock market in May, raising nearly SFr9 billion ($9.78 billion). Last week…

Breaking bad publicity in the chemistry lab

This content was published on Dec 4, 2011 Why are fireworks blue, green, yellow and red? How on earth can a double-wall coffee mug warm up when shaken? By what miracle are the insides of Christmas baubles covered in silver? This is what Chimiscope aims to explain and demonstrate. As the International Year of Chemistry comes to an end – and three years…

UBS cuts economic growth forecast

This content was published on Dec 2, 2011 Releasing latest estimates on Friday, the bank also revised down its forecast for Swiss GDP growth in 2013 from two per cent to 1.7 per cent. The bank said the Swiss economy was showing clear signs of fatigue, citing weak third-quarter GDP figures and the further drop in the purchasing managers’ index (PMI) below the…

The rich go on getting richer

This content was published on Dec 2, 2011 That’s SFr11 billion more than in 2010 and is roughly equivalent to Switzerland’s gross domestic product. Were they to divide it equally between all Swiss residents, everyone (including babies) would receive more than SFr60,000. The figures, drawn up by the business journal Bilanz and published on Friday, show that wealth is not equally distributed even…

“Euro-Rabatt” is the word of the year

This content was published on Dec 1, 2011 A five-member German-speaking jury commissioned by the Swiss Broadcasting Corporation chose the 2011 word from among more than 1,000 suggestions. The winning word, announced on Thursday, is a pithy abbreviation indicating how Swiss consumers profit from comparatively low prices on goods imported from the eurozone. It is also an expression used by Swiss travelling over…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss ski resorts “must diversify to survive”

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Designer drugs placed on banned list

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Putin clings to reduced majority in Russia

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Business federation gloomy about outlook

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Public outcry “set to topple banking secrecy”

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Glencore chief vows to hold onto shares

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Breaking bad publicity in the chemistry lab

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UBS cuts economic growth forecast

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The rich go on getting richer

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“Euro-Rabatt” is the word of the year

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