Archive – Banking & Fintech

Stiffer banking rules set to win backing

This content was published on Sep 15, 2011 The House of Representatives on Thursday approved a proposal for a total equity ratio of at least 19 per cent and tougher liquidity requirements. Discussions on improved risk diversification and steps to ensure the payment of transactions in case of a bank’s insolvency will continue next week. During the debate the rightwing Swiss People’s Party…

UBS hit by $2 billion rogue-trader losses

This content was published on Sep 15, 2011 UBS warned that the unauthorised trading by one of its investment bankers is likely to negatively impact its third quarter results. A 31-year-old man has been arrested in London on suspicion of fraud. Shares in the bank plunged more than eight per cent on the news to under SFr10 per share before recovering slightly by…

UBS rogue trader loses $2 billion

This content was published on Sep 15, 2011 UBS warned that the unauthorised trading by one of its investment bankers is likely to negatively impact its third quarter results. Shares plunged more than eight per cent on the news to under SFr10 per share. The bank added that no clients had been affected, leading to the likely conclusion that the rogue trader had…

Senior Basel banker regrets taking US clients

This content was published on Sep 14, 2011 Andreas C. Albrecht of Basel Cantonal Bank told the Basler Zeitung newspaper that his bank opened accounts for thousands of UBS customers after the United States tax probe against the Zurich banking giant. “It was mainly Swiss customers, but also a lot of foreigners, including of course Americans,” Albrecht said. “Looking back, I have to…

Swiss TV opts not to show Halifax crash film

This content was published on Sep 14, 2011 The documentary presents the argument that the crash was not due to a cable fire but a targeted attack. Swiss television’s chief editor Diego Yanez said the film’s findings did not justify its broadcast at this time. “It’s not our task to spread speculation,” he said. Swiss television will not air the film until its…

Jet Aviation to cut 300 jobs in Basel-Mulhouse

This content was published on Sep 14, 2011 The reasons given for the decision, made public by the firm’s head of personnel on Tuesday, were the strength of the Swiss franc and a decline in orders. News of the job cuts first emerged at the end of August and a consultation process was initiated which concluded at the end of last week. The…

Banks optimistic despite gathering clouds

This content was published on Sep 14, 2011 The Swiss Bankers Association (SBA) believes that growth in emerging markets will offset losses in Europe and the United States. A study has also highlighted opportunities in niche areas that are currently under-represented. Despite coming though the financial crisis relatively unscathed, the Swiss financial centre has since been buffeted by the dilution of banking secrecy…

Asia visa bottleneck frustrates tourist sector

This content was published on Sep 13, 2011 Tourism bosses have complained to the foreign ministry that bottlenecks are costing the industry income in its hour of need. Emerging markets, such as China and Russia, are seen as the sector’s salvation. Industry insiders have complained that a lack of consulate staff and excessive red tape has delayed – and in some cases even…

Radio station links Madagascar farmers

This content was published on Sep 12, 2011 Today, the station is entirely locally managed, but more importantly has become an indispensable communication channel for farmers seeking to do business with one another. “An advertisement on Radio Mampita allowed me to sell 16,000 fish fry to a wholesaler based more than 200 kilometres from here,” said Henri Randrianitsiriana, a fish farmer in the…

Nuclear power, economy mark parliament session

This content was published on Sep 12, 2011 High on the agenda are debates in the Senate on a proposed opt-out from nuclear energy and the promotion of renewable energy resources. The House of Representatives approved the withdrawal from nuclear energy in the June parliament session. The decision foresees shutting down the country’s five reactors by 2034, but a Senate committee has proposed…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Stiffer banking rules set to win backing

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UBS hit by $2 billion rogue-trader losses

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UBS rogue trader loses $2 billion

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Senior Basel banker regrets taking US clients

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Swiss TV opts not to show Halifax crash film

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Jet Aviation to cut 300 jobs in Basel-Mulhouse

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Banks optimistic despite gathering clouds

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Asia visa bottleneck frustrates tourist sector

More

Radio station links Madagascar farmers

More

Nuclear power, economy mark parliament session

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