Archive – Banking & Fintech

Zurich airport limitation plans turned down

This content was published on Nov 27, 2011 In a Zurich cantonal vote on Sunday 58.7 per cent of voters were against plans to block building new runways or extensions at Zurich airport. There was stronger opposition to a counter proposal that would have stopped flights over residential areas, with it rejected by 68.2 per cent of voters. Turnout for the vote was…

Safra buys Sarasin majority stake

This content was published on Nov 25, 2011 The deal thus fended off an approach from rival bank Julius Bär and ended months of uncertainty. In a statement, Sarasin said the Safra Group agreed to acquire a majority shareholding in Bank Sarasin at a price of SFr7.20 per A registered share and SFr36 Swiss francs per B registered share, to be paid in…

Rubik tax treaties face serious hurdle

This content was published on Nov 25, 2011 The European Commission has threatened to take Germany and Britain to court if they enforce the Swiss treaties. Swiss Finance Minister Eveline Widmer-Schlumpf cancelled a meeting with EC Tax Commissioner Algiridas Semeta scheduled for Friday. The Swiss designed Rubik tax treaty system promises to weed out undeclared assets and hand over tax to other countries…

Xamax owner charged with forgery

This content was published on Nov 24, 2011 Swiss-based oligarch Bulat Chagaev appeared in court for a first hearing on Thursday, was questioned for four hours and later released. “The prosecutor Yves Bertossa confirmed the indictment for forgery, without further comment,” said a spokesman for the canton Geneva court. Chagaev is alleged to have shown the club a forged bank statement on Bank…

Swatch pulls out of Madeira

This content was published on Nov 24, 2011 Foreign companies operating in Madeira have been exempt from paying taxes, but the archipelago has announced plans to change its tax laws by the end of this year. A spokeswoman for the Biel-based group, Beatrice Howald, said changes to Madeira’s tax laws were a factor, but not the only reason, the company had decided to…

Boom pushes property market to the limit

This content was published on Nov 23, 2011 “The market’s always been tight – there’s nothing new there,” Regula Mühlebach, head of the Swiss Tenants Association, told swissinfo.ch. “What’s serious are the so-called mass evictions, when entire multi-family apartment blocks are given notice so the building can be renovated and profits maximised.” Donato Scognamiglio, head of property consultants IAZI, said rent for apartments…

Press council upholds entrapment complaint

This content was published on Nov 22, 2011 The press council said on Tuesday that an article published by the French-speaking edition of 20minutes in April had used “unfair methods” in obtaining the article. The article was accompanied by a blurred photo of the man – a teacher and Geneva-based politician – and detailed how he had had invited a journalist, posing as…

Rich cast nervous eye at inheritance tax plan

This content was published on Nov 22, 2011 The people’s initiative, backed by a coalition of left leaning parties, aims a broadside at the assets of multi-millionaires by insisting that they relinquish a fifth of their wealth when it is passed on to the next generation. The expected SFr3 billion ($3.27 billion) in extra tax revenues would help plug a growing hole in…

Alstom found guilty in three cases of bribery

This content was published on Nov 22, 2011 The Swiss Federal Prosecutor’s Office said on Tuesday Alstom Network Schweiz AG had been fined SFr2.5 million ($2.74 million) and ordered to pay SFr36.4 million in compensation relating to three cases where it had failed to prevent the bribery of foreign officials in Latvia, Tunisia and Malaysia. The punishment comes after investigations into the company’s…

Susanne Ruoff named new head of Swiss Post

This content was published on Nov 22, 2011 Swiss Post said in a statement that Ruoff’s prior management experience with international corporation IBM and as ceo of British Telecom’s Swiss subsidiary would strengthen the executive management team of the organisation. “Owing to her pronounced competencies in the digital realm, Susanne Ruoff can crucially strengthen Swiss Post’s executive management in view of future challenges,”…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Zurich airport limitation plans turned down

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Safra buys Sarasin majority stake

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Rubik tax treaties face serious hurdle

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Xamax owner charged with forgery

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Swatch pulls out of Madeira

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Boom pushes property market to the limit

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Press council upholds entrapment complaint

More

Rich cast nervous eye at inheritance tax plan

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Alstom found guilty in three cases of bribery

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Susanne Ruoff named new head of Swiss Post

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