Archive – Banking & Fintech

Ministers keep “made in Switzerland” Swiss

This content was published on Nov 18, 2009 The cabinet on Wednesday took up the issue of “Swissness” in an effort to protect the commercial use of national emblems or words like “Swiss quality” or even “Switzerland” on goods and services sold within the country. “How much ‘Switzerland’ must be in a product or a service for it to be labeled ‘Switzerland’?” asks…

“New” UBS unveils strategic rebranding

This content was published on Nov 17, 2009 The strategy presentation arrived on the same day that the Swiss government revealed the criteria for handing over the names of 4,450 UBS clients suspected of tax evasion to the United States tax authorities. The bank said it hopes to produce a pre-tax annual profit of SFr15 billion ($14.87 billion) in the next three to…

National bank warns of hard times for economy

This content was published on Nov 17, 2009 The bank’s president, Jean-Pierre Roth, said growth in Europe, which absorbs most of Swiss exports, “will be even weaker than the global toll”. But immigration to Switzerland, particularly among skilled workers, had helped steady consumption and keep internal demand on track. “There is still concern that 2010 will be difficult,” he told a news conference…

Details of UBS tax deal with US revealed

This content was published on Nov 17, 2009 The Swiss justice ministry on Tuesday unveiled the specifics surrounding which 4,450 UBS customers risk having their financial data disclosed to the US Internal Revenue Service (IRS). The agreement is part of a deal struck between US and Swiss authorities in August to end a major tax-evasion investigation against UBS. Potentially affected clients include Americans…

Tourism

This content was published on Nov 17, 2009 A key source of income is tourism, although nowadays Swiss travelling abroad spend almost as much as foreign tourists coming here. However, the balance remains positive, and tourism is the third biggest export industry, employing about 10% of the Swiss workforce. Early beginnings Tourism as such began in the 19th century, but as early as…

Transport

This content was published on Nov 17, 2009 Although many Swiss are car fanatics, they use rail transport more often than anyone else except possibly the Japanese, and public transport infrastructure covers the country. There are now close to four million cars in a population of slightly more than seven million. At the same time, the average Swiss makes 47 train trips a…

UBS aims for SFr15 billion in pre-tax profit

This content was published on Nov 17, 2009 Oswald Grübel, the bank’s chief executive, is scheduled to update stakeholders on UBS’s strategic plans and positions during the bank’s Investor Day in Zurich on Tuesday. UBS suffered more than any other European bank in the United States subprime crisis and has been embroiled in a US tax dispute. The Swiss government had to rescue…

High drugs prices could raise blood pressure

This content was published on Nov 16, 2009 The Swiss pharmaceutical industry and health insurance companies came to the results by comparing prices of the 98 best-selling generic products in Switzerland and six other countries. Representatives of the pharmaceuticals and insurance firms said on Monday that the comparison was carried out to ensure an objective discussion on prices, as part of the larger…

Swiss banks eye tax pledge for foreigners

This content was published on Nov 15, 2009 The chairman of the Swiss Bankers Association (SBA), Patrick Odier, told Sunday newspaper NZZ am Sonntag that the industry group is examining various ways of forestalling demands for an automatic exchange of client information with other countries. Odier said one option would be to make customers from nations that have a tax agreement with Switzerland…

“King of oil” discloses his “secret lives”

This content was published on Nov 14, 2009 Daniel Ammann, who interviewed Rich extensively for his book, The King of Oil, told swissinfo.ch how an oil pipeline through Israel – a joint venture between Iran and Israel – was one of Rich’s greatest successes at a time when the two countries were seemingly impossible trading partners. Rich, aged 74, who lives on the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Ministers keep “made in Switzerland” Swiss

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“New” UBS unveils strategic rebranding

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National bank warns of hard times for economy

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Details of UBS tax deal with US revealed

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Tourism

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Transport

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UBS aims for SFr15 billion in pre-tax profit

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High drugs prices could raise blood pressure

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Swiss banks eye tax pledge for foreigners

More

“King of oil” discloses his “secret lives”

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