Archive – Banking & Fintech

Interest rates could rise if franc stays weak

This content was published on Dec 19, 2007 “We are really concerned if [it] loses further value,” said the institution’s chairman Jean-Pierre Roth on Wednesday in St Gallen “A lasting tendency towards weakness of the Swiss franc could trigger inflationary effects. We know that we would have to meet such a development with interest rate policy sooner or later,” he added. The currency…

ABB boss named “Entrepreneur of the Year”

This content was published on Dec 19, 2007 Kindle told the Handelszeitung newspaper, which published the awards, that he was pleased to have been chosen. “When a manager does his job properly, he has to act in an entrepreneurial way,” he said. ABB is a global player in power and automation technologies and employs 5,600 people in Switzerland. Kindle was appointed chief executive…

Swiss Re reveals scale of 2007 catastrophes

This content was published on Dec 18, 2007 The world’s biggest reinsurer also revealed on Tuesday that more than 20,000 people were killed by the disasters. Although the insured losses, at $25 billion, were $9 billion higher than in the previous year, 2007 is below the long-term loss trend. The large losses occurred in the first half of the year and were concentrated…

Swiss shareholders “get raw deal”

This content was published on Dec 18, 2007 Switzerland dropped one place to 16th in the Doing Business 2008 report, which compares the time and cost of setting up, running and closing a small and medium-sized enterprise (SME) in 178 countries. The Swiss regulatory system scores high marks in most fields, but Switzerland is one of the worst countries in the world at…

KOF raises economic growth forecasts

This content was published on Dec 17, 2007 It had previously predicted rates of 2.8 per cent and 1.9 per cent for this and next year. In its quarterly assessment, the institute said that private consumption would remain pillar of support for the Swiss economy and should offset any potential export weakness issues from the subprime crisis in the United States. But it…

Credit crisis not over warns banking watchdog

This content was published on Dec 17, 2007 The warning comes a week after Switzerland’s largest bank, UBS, announced a further $10 billion (SFr11.3 billion) writedown due to the ongoing deterioration of the US mortgage market. Daniel Zuberbühler, head of the Federal Banking Commission, said in an interview with the NZZ am Sonntag newspaper that the danger to financial institutions was far from…

Obwalden votes for flat rate tax

This content was published on Dec 16, 2007 The decision, announced by the authorities after a vote on Sunday, comes after a court ruled the canton’s previous degressive tax model unfair. From next January Obwalden will impose a rate of 1.8 per cent on all categories. The new model also exempts the first SFr10,000 ($8,700) of income from taxation, a measure designed to…

Obwalden accepts flat rate tax

This content was published on Dec 16, 2007 The decision, announced by the Obwalden authorities after a vote on Sunday, comes after a court ruled the canton’s previous degressive tax model unfair. In January 2006, Obwalden slashed its corporate levy and introduced an income tax scheme that set lower rates for the rich than people on lower incomes. A communist politician took the…

Tax paradise to vote on fairer system

This content was published on Dec 15, 2007 Cantons compete with each other to set the lowest tax rates to attract wealthy individuals and companies, a policy that has attracted criticism both within Switzerland and outside its borders. In January 2006, Obwalden slashed its corporate levy and introduced an income tax scheme that set lower rates for the rich than people on lower…

Dog owners to face tougher rules

This content was published on Dec 14, 2007 Under a draft law, to be discussed by parliament at a later stage, dog owners would also have to take out mandatory insurance. The justice ministry said the aim was to ensure that victims of dog bites – an estimated 300 people a year – receive financial compensation . Dog owners currently are not responsible…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Interest rates could rise if franc stays weak

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ABB boss named “Entrepreneur of the Year”

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Swiss Re reveals scale of 2007 catastrophes

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Swiss shareholders “get raw deal”

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KOF raises economic growth forecasts

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Credit crisis not over warns banking watchdog

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Obwalden votes for flat rate tax

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Obwalden accepts flat rate tax

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Tax paradise to vote on fairer system

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Dog owners to face tougher rules

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