Archive – Banking & Fintech

Central bank holds interest rate steady

This content was published on Dec 10, 2009 At a news conference in Zurich, the central bank added that it was holding its key Libor interest rate – the London Interbank Offered Rate – at its present level, as expected by many financial observers. “Risks remain significant, and for this reason we are maintaining our expansionist monetary policy,” SNB president Jean-Pierre Roth commented.…

Swiss industrialist faces trial over asbestos

This content was published on Dec 9, 2009 Stephan Schmidheiny, one of Switzerland’s richest men, and his fellow accused, the Belgian Jean Louis Marie Ghislaine De Cartier, were majority shareholders in the Italian Eternit Genova company, which owned four asbestos factories in Italy. Thousands of people are expected to turn up for a demonstration outside Turin’s law courts as the trial opens. Asbestos…

Hedge funds value “culture” over tax breaks

This content was published on Dec 8, 2009 Talk of fund managers running away from higher British taxes has not yet amounted to much so far. And proposed new European Union financial rules may yet disadvantage Swiss-based operations. Property specialists, relocation firms and, occasionally, cantonal finance chiefs have been busy fuelling speculation that London hedge fund managers are not happy with the hiking…

Christmas shoppers optimistic despite clouds

This content was published on Dec 8, 2009 Surveys show shoppers are in the mood for splashing out on Christmas presents, while the pulse of retailers also looks healthier than a year ago. However, 2010 could be the year of frugality as the cost of living rises. Domestic consumption in Switzerland has held up relatively well so far during the economic downturn. One…

Fragmented cleantech sector “needs shake-up”

This content was published on Dec 6, 2009 A new umbrella group is attempting to bring a multitude of firms under one roof to better utilise Swiss manufacturing know-how in the drive to generate environmentally friendly innovations. The Swiss Cleantech Association will formally launch on Monday. A recent government survey estimates that the Swiss cleantech industry directly employs some 155,000 people and generates…

Inflation threat divides opinion

This content was published on Dec 4, 2009 Many economists believe low interest rates combined with a flood of financial stimulation is the perfect recipe to combat rampant price hikes. But others believe sensible monetary policy would nip the problem in the bud. Speaking at the Hedge Funds Zurich conference on Thursday, trader and author Nassim Taleb warned the world to brace for…

Changing climate changing lives in Bangladesh

This content was published on Dec 4, 2009 High tides are getting higher and storms are stronger, villagers say. “We have found a lot of changes in the past 15 to 20 years, especially the water going up,” says Antu, a primary school teacher. “Now, we need to raise our old road.” In May, Cyclone Aila roared through his village of Jhapa and…

UN calls for postal sector to reduce emissions

This content was published on Dec 3, 2009 Edouard Dayan’s call for action comes after the UPU – the United Nations specialised agency for postal services – reported that it estimates at least 26 million tonnes of C02 emissions were produced by its 191 members’ postal vehicles and buildings in 2008. A statement from the UPU’s headquarters said that on the eve of…

End of the road for cheap mobility?

This content was published on Dec 3, 2009 Just imagine: the cost of train tickets, particularly at peak times, has shot up. Driving on minor roads is cheaper than on major highways. Petrol has just about doubled in price. Groups can only book train seats for times when commuters are safely at work. Every trip by car is noted and monitored. These are…

Private banks must adapt to survive

This content was published on Dec 3, 2009 The consensus is that banks will have to attract new clients with onshore operations abroad as the flow of assets into Switzerland shrinks. And smaller operations would need to find smart solutions to the problem. Swiss private banking has been hit with the double whammy of the financial crisis and a global crackdown on tax…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Central bank holds interest rate steady

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Swiss industrialist faces trial over asbestos

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Hedge funds value “culture” over tax breaks

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Christmas shoppers optimistic despite clouds

More

Fragmented cleantech sector “needs shake-up”

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Inflation threat divides opinion

More

Changing climate changing lives in Bangladesh

More

UN calls for postal sector to reduce emissions

More

End of the road for cheap mobility?

More

Private banks must adapt to survive

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