Archive – Banking & Fintech

Foreign guests boost tourist figures

This content was published on Feb 27, 2008 The Federal Statistics Office said the 4.4 per cent increase was mainly due to more foreign tourists – 58 per cent of all stays – the comparatively weak Swiss franc and the favourable economic situation. Germans accounted for the largest number of overnight stays by foreigners, ahead of guests from Britain and the United States,…

More record profits for cement maker Holcim

This content was published on Feb 27, 2008 The Swiss-based company said the Asia-Pacific region had performed strongly with operating results in the area boosted by the first full-year consolidation of India’s Ambuja Cement. Holcim, which sold its subsidiary in South Africa in 2007, said it was confident about meeting its long-term growth target of five per cent thanks to demand in the…

Government won’t join UBS bailout

This content was published on Feb 27, 2008 But in an interview given ahead of the bank’s extraordinary shareholder meeting on Wednesday, Couchepin criticised chairman Marcel Ospel, saying he should hand back some of his more than substantial salary. Shareholders are being asked to approve a SFr13 billion ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor. But they are…

Survey denies small business “inspectionitis”

This content was published on Feb 26, 2008 A survey revealed an average 1.9 inspections per company in the past five years, while a third said they had received no visits at all. But business leaders said the findings were too positive. The State Secretariat for Economic Affairs (Seco) asked 1,600 firms about the frequency and nature of inspections since 2003. A third…

Leuthard broaches tax affair issue

This content was published on Feb 25, 2008 She said that although the tax evasion fight was a concern to both Switzerland and Liechtenstein, both countries should retain autonomy in their fiscal affairs. This meant managing their own fiscal law and any improvement of legislation in this domain, she said. Her comments came after Swiss Finance Minister Hans-Rudolf Merz said on Saturday that…

Litigation adds to UBS worries

This content was published on Feb 25, 2008 UBS suffered a SFr4.38 billion loss in 2007 as a result of write-downs to the tune of SFr20 billion. It faces a stormy shareholder meeting on Wednesday to vote on a rescue plan. HSH Nordbank initiated legal proceedings in New York on Monday after UBS refused to discuss a settlement. The German bank claims UBS…

Corporate tax breaks scrape through in polls

This content was published on Feb 24, 2008 A ban on training flights by the Swiss Air Force over tourist regions, proposed by a leading environmental group, was overwhelmingly rejected. The proposal on banning training flights was rejected by about 68 per cent of the vote, with 32 per cent in favour, according to officals. But the fiscal reform proposal passed with a…

Merz plays down tax investigation

This content was published on Feb 23, 2008 The Germans are interested in a particular kind of foundation in Liechtenstein which does not exist under Swiss law, he told Swiss radio. “I cannot imagine why there should be any problem for Switzerland.” Although some of the money held by the foundations in Liechtenstein is invested in Swiss banks, that does not mean the…

Switzerland considers sanctions in Chad case

This content was published on Feb 22, 2008 It said that it would need several weeks to formulate its response to the government of Chad, which receives development assistance from Switzerland. Media reports that Chad had outfitted the Pilatus PC-9 trainer with bombs and was using it to attack positions in the Darfur region in neighbouring Sudan first appeared in January. On Friday,…

Sweet firms taste export success

This content was published on Feb 22, 2008 Around three-quarters of Swiss made confectionery goes abroad and in the last year exports rose by 13.7 per cent to 20,772 tonnes, the confectionery and biscuit manufacturers’ association Biscosuisse reported. In the past five years export turnover and volume of sales have risen by around 30 per cent. Biscosuisse described the domestic market as “more…

Page 791 of 1641

First … 789 790 791 792 793 … Last

Archive – Banking & Fintech

Popular Stories

Most Discussed