Archive – Banking & Fintech

Franc reaches five-year high against euro

This content was published on Oct 22, 2008 The franc is benefitting from investors seeking safe haven currencies such as the franc, yen and dollar. In August, €1 was worth SFr1.63 but closed on Tuesday at SFr1.53. Switzerland’s export industry considers the SFr1.50 mark as its pain threshold. Below this point, Switzerland’s key economic sector will begin to suffer. During the years of…

“Rational” investors take control of assets

This content was published on Oct 22, 2008 But while more people are opening personal online trading accounts than ever before, most are playing safe with their money rather than attempting to play the markets for short-term profit. Switzerland’s leading online broker, Swissquote, opened 25,000 new accounts last year and expects the same number this year having already attracted more than 100,000 customers.…

Move to blacklist Switzerland as tax haven

This content was published on Oct 21, 2008 The move was made during a conference on financial transparency in Paris on Tuesday, attended by representatives from 17 countries belonging to the Organisation for Economic Co-operation and Development (OECD). Those present agreed that the OECD needed to update its blacklist of “uncooperative” tax havens – currently comprising Liechtenstein, Andorra and Monaco – by mid-2009.…

Move to blacklist Switzerland as tax haven

This content was published on Oct 21, 2008 Representatives from 17 countries gathered in Paris on Tuesday for a meeting on transparency and agreed that the Organisation for Economic Co-operation and Development (OECD) needed to update its blacklist of tax havens by mid-2009. Switzerland turned down an invitation to attend the meeting last week. German Finance Minister Peer Steinbrück told a press conference…

Cancer drugs save Roche from weak Tamiflu sales

This content was published on Oct 21, 2008 The Basel-based firm, which reports profit figures for the half year and full year, said sales had risen to SFr11.3 billion ($9.83 billion) from SFr11.12 billion the same time last year. “We again expect a good full-year result and confirm our outlook for 2008,” said Severin Schwan, the company’s chief executive. However, the nine-month total…

Stock exchange closes on positive note

This content was published on Oct 20, 2008 The Swiss Market Index of leading blue chip companies closed at 6,216.46 points, up 1.92 per cent on Friday’s close. The biggest winner of the day was Syngenta whose shares rose by 6.2 per cent to SFr173 ($150.17). Meanwhile banks had varied performances, with Credit Suisse shares rising by 2.89 per cent to SFr49.9 and…

Swiss prove army food can be delicious

This content was published on Oct 20, 2008 The team of 13 won over the jury and guests with a menu that included a salmon with saffron brioche appetiser, a main dish of chicken breast, olive tortilla and Mediterranean vegetables, and a macchiato dessert with coffee and sour cream. The team worked in a Nato field kitchen in Germany and the cost was…

Bonus issue preoccupies Switzerland

This content was published on Oct 19, 2008 The move, revealed on Sunday, follows on from a turbulent week in which the country’s largest bank UBS was given a huge government bailout. The bank’s bonus policy has also come under fire. UBS’s rescue package, worth more than SFr60 billion ($53 billion) and announced on Thursday, sent shockwaves through Switzerland. The surprise bailout has,…

UBS bailout plan splits public

This content was published on Oct 19, 2008 In addition, 90 per cent of those asked said that the bank should pay the money back, according to a poll published in the SonntagsZeitung newspaper on Sunday. On Thursday the Swiss National Bank announced that it would guarantee up to $54 billion (SFr61 billion) of UBS bad debt and pumped $6 billion into the…

History repeats itself with financial crash

This content was published on Oct 19, 2008 He believes the recent turmoil will prove to be the worst crash since the global economic meltdown of the 1930s. Meier is currently researching the history of the Swiss financial market for a book he plans to write on the same subject. swissinfo: Is this the worst crash the Swiss financial market has suffered? Richard…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Franc reaches five-year high against euro

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“Rational” investors take control of assets

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Move to blacklist Switzerland as tax haven

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Move to blacklist Switzerland as tax haven

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Cancer drugs save Roche from weak Tamiflu sales

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Stock exchange closes on positive note

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Swiss prove army food can be delicious

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Bonus issue preoccupies Switzerland

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UBS bailout plan splits public

More

History repeats itself with financial crash

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