Archive – Banking & Fintech

Jobless figures climb steeply

This content was published on Dec 9, 2008 The number of registered unemployed rose by 7,181 to 107,652 – the first annual rise in four years – indicating that the financial crisis is starting to bite. In a statement, Seco said the number of vacancies dropped by more than 13 per cent compared with November 2007 to 11,927. “The financial crisis reached the…

Liechtenstein deal further raises tax pressure

This content was published on Dec 8, 2008 Observers believe Swiss banks will now come under mounting pressure to give other countries more information on tax dodgers. But banking insiders insist Liechtenstein’s move will not affect Switzerland. The principality of Liechtenstein, which borders Switzerland, ended two years of negotiations on Monday by signing a deal to grant US authorities access to confidential client…

Wage increases in 2009 “acceptable”

This content was published on Dec 8, 2008 However, the organisation said in a statement on Monday that the financial crisis had made this year’s talks more difficult than usual. Travail Suisse said if an inflation rate of 1.4 per cent were taken into account, the rise in real terms would be 0.6 to 2.4 per cent. The organisation said this would support…

Foreign tourists make “dream year” for hotels

This content was published on Dec 8, 2008 Overnight stays rose 3.7 per cent, cracking the 37-million mark, according to hotelleriesuisse. Stays in the summer season were up 1.8 per cent, which the organisation attributed to the bad economy. The number of foreign visitors, who make up the majority of hotel occupants, rose 4.2 per cent, while domestic demand increased 3.1 per cent.…

Free trade with Algeria moves step closer

This content was published on Dec 6, 2008 Leuthard, speaking after talks on Saturday with the Algerian government in Algiers, said “substantial progress” had been made in the area of technical cooperation. She was optimistic a free trade deal could be finalised in February between Algeria and Efta states, which include Switzerland, Norway, Iceland and Liechtenstein. Also on Leuthard’s agenda was a double…

Swiss behind in battle to attract Asian firms

This content was published on Dec 6, 2008 Attracting 260 firms could boost the Swiss economy by four per cent – SFr20 billion ($16.5 billion) – per year and create 120,000 new jobs. The report warns that in this regard Switzerland is lagging behind European competitors. The report by international consultancy firm McKinsey and Company predicts a boom in Asian companies setting up…

Top hotels face winter boom but summer gloom

This content was published on Dec 4, 2008 However, the high end of the market is confident it can sweat out the tough times by falling back on a traditional image for top class hospitality and cashing in on the still buoyant winter season. The umbrella group for the luxury hotel segment, Swiss Deluxe Hotels, said at a conference in Zurich on Thursday…

Firms aim to replace ageing nuclear plants

This content was published on Dec 4, 2008 The firms confirmed on Thursday they would be filing an initial application with the Federal Energy Office for licences to replace two reactors at Beznau in canton Aargau and Mühleberg in canton Bern. Axpo and BKW, which supply about four million people with energy and produce about half the electricity consumed in Switzerland, said they…

Recession in Switzerland moves closer

This content was published on Dec 4, 2008 The State Secretariat for Economic Affairs in Bern said on Thursday that year-on-year growth slowed to 1.6 per cent from 2.6 per cent in the second quarter. “Switzerland is in or at least on the brink of a recession,” commented analyst Jan Poser at Bank Sarasin. “Recent data suggest that the economy is already shrinking.”…

Credit Suisse to eliminate 5,300 jobs

This content was published on Dec 4, 2008 The country’s second-largest bank said the cuts came in a bid to reduce costs and take its balance sheet back into positive territory after predicting it would end 2008 with another quarterly loss. Credit Suisse’s loss of SFr3 billion ($2.48 billion) for the first two months of the final quarter reflected the impact of adverse…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Jobless figures climb steeply

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Liechtenstein deal further raises tax pressure

More

Wage increases in 2009 “acceptable”

More

Foreign tourists make “dream year” for hotels

More

Free trade with Algeria moves step closer

More

Swiss behind in battle to attract Asian firms

More

Top hotels face winter boom but summer gloom

More

Firms aim to replace ageing nuclear plants

More

Recession in Switzerland moves closer

More

Credit Suisse to eliminate 5,300 jobs

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Most Discussed