Archive – Banking & Fintech

Oerlikon chief in shock exit

This content was published on May 8, 2007 Limberger courted controversy earlier this year when details of his SFr26 million ($21.4 million) remuneration package were revealed. He subsequently handed back 40,000 options to reduce his compensation to SFr7.7 million. He was appointed CEO months after the company, formerly known as Unaxis, was bought out by Austrian investment group Victory in 2005, ending an…

Swiss open first business hub in Africa

This content was published on May 7, 2007 It is the first such platform for Swiss businesses in the region and comes at the beginning of a visit by Economics Minister Doris Leuthard to South Africa and Tanzania this week. At the hub’s official opening on Monday, Leuthard said that South Africa played a crucial role in Switzerland’s international business strategy, pointing out…

Swiss car sharing continues its expansion

This content was published on May 7, 2007 The most successful car-sharing scheme in Switzerland, the Mobility cooperative that boasts over 70,000 members, is celebrating its tenth birthday this month. Car sharing has developed considerably in Switzerland over the past 20 years ever since the first two car co-ops, AutoTeilet Genossenschaft and ShareCom, were set up with 25 members and two cars in…

Trading scandal topples Zurich bank CEO

This content was published on May 7, 2007 ZKB had come under fire following complaints by one of its clients, the Sulzer engineering group, that rivals secretly built up a stake in the company using options sold by the bank. Switzerland’s third-largest bank said on Monday that Martin Scholl would take over on June 1 from Vögeli, who was due to retire at…

Wil puts its stamp on world of philately

This content was published on May 6, 2007 Coming under the hammer are several significant collections as well as rare stamps from Switzerland issued before the country had a national post service. The event, which began on Monday and is organised by the Rapp auction house, lasts for four days and will see stamps with an estimated total value of SFr15 million ($12.38…

Swiss want green and efficient farming

This content was published on May 4, 2007 But the results of the poll conducted by the Federal Agriculture Office and released on Friday also reveal that the country’s farmers should not hold their breath for more money. The aim of the office’s study was to ascertain whether the constitutional mandate from 1996, which apportions SFr3.5 billion ($2.9 billion) a year to agriculture,…

WTO move reaches crunch time

This content was published on May 3, 2007 According to the Neue Zürcher Zeitung newspaper, the WTO could quit Switzerland unless the government pays up to SFr400 million ($330 million) to provide it with suitable premises in the city. Both the Swiss government and the WTO have refused to comment on Wednesday’s newspaper report but it is no secret that the world trade…

EU tax pressure will backfire, says Merz

This content was published on May 3, 2007 Speaking at the Swiss Economic Forum (SEF), Merz warned that the EU attack on the country’s fiscal system would fail to encourage businesses that have set up shop in Switzerland to move back home. The union is demanding that cantons scrap the practice of exempting tax on company profits generated outside of Switzerland. It claims…

Credit Suisse shamed over rainforest deal

This content was published on May 3, 2007 The bank is organising moves by a leading Malaysian timber company, Samling, to float its shares on the stock market. Two Swiss non-governmental groups, the Society for Threatened Peoples and the Bruno Manser Fund – named after the missing Swiss rainforest activist – presented their demand for $10 million (SFr12.1 million) compensation in Zurich on…

Business federation backs Merz tax reform

This content was published on May 2, 2007 The federation also echoed comments made by Merz at the weekend that the planned reforms should be purely in the interests of Switzerland and not a response to European Commission pressure. The EC has been complaining for nearly two years that the cantonal company tax policy is unfair and detrimental to competition, a charge that…

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Archive – Banking & Fintech

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Oerlikon chief in shock exit

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Swiss open first business hub in Africa

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Swiss car sharing continues its expansion

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Trading scandal topples Zurich bank CEO

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Wil puts its stamp on world of philately

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Swiss want green and efficient farming

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WTO move reaches crunch time

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EU tax pressure will backfire, says Merz

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Credit Suisse shamed over rainforest deal

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Business federation backs Merz tax reform

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