Archive – Banking & Fintech

Government closes chapter on book agreement

This content was published on May 2, 2007 According to the book industry, the move will destabilise the market in German-speaking parts of the country and cause many small bookshops to close. The government announced its final decision on Wednesday stating that it did not wish to oppose the Swiss Competition Commission (Comco), which had banned the agreement in March 2005, and added…

Winter tourism figures better than feared

This content was published on May 2, 2007 Hoteliers have been reporting good results, while turnover of Swiss ski-lift operators dropped by just five per cent. Ski resorts above 1,800 metres, which nearly always had a good snow cover, fared reasonably well but low-lying resorts suffered as there was no snow. “The lack of snow has had far less drastic effects than one…

Sulzer share coup results in fallout

This content was published on May 1, 2007 The Swiss Federal Banking Commission is investigating the coup that also resulted in the resignation of a top Zurich Cantonal Bank (ZKB) executive and a bank internal policy review. The sudden announcement more than a week ago that nearly a third of Sulzer’s shares were now in the hands of the consortium took the Winterthur-based…

Phishers angle their way into economic crime

This content was published on Apr 30, 2007 It adds that fictitious banks have also been attempting to profit from Switzerland’s reputation as a financial centre. The crime details were published on Monday in the semi-annual study of the government’s Reporting and Analysis Centre for Information Assurance (Melani). The report notes that during 2006 cyber crime developed definitively into a “widespread criminal activity”…

Auction house stages virtual sale in Geneva

This content was published on Apr 28, 2007 The auctioneers say security has been a top priority in designing the system, adding that all virtual clients will be carefully vetted. The online auction service will get its first run-out in Switzerland on May 14 during a watch sale in Geneva that is expected to fetch in excess of SFr13 million ($15.6 million). Assuming…

Merz tax plans sidestep EU critics

This content was published on Apr 28, 2007 Merz hopes to take the wind out of EU’s sails with a possible solution to the corporate tax row three days after its member states approved a mandate for negotiators to engage Switzerland. The proposed corporate tax reform could defuse the controversy that centres on Switzerland’s policy of taxing company profits generated abroad differently from…

SNB signals further interest rate hikes

This content was published on Apr 27, 2007 While expressing cautious optimism about the state of the Swiss economy, he warned on Friday that the bank would tighten credit further as needed to ensure price stability. “We remain cautious since the productive resources in our economy are currently more or less fully employed and the Swiss franc has depreciated on the foreign exchange…

Dry weather fires up irrigation debate

This content was published on Apr 27, 2007 With no end in sight to the unusually warm weather, farmers fear that this year will be a repeat of 2003’s drought, which cost them around SFr400 million ($330 million). The government’s Agroscope agriculture research station has warned that if no rain comes in the next two weeks the situation will become critical. It has…

Leuthard says trade talks at “decisive stage”

This content was published on Apr 26, 2007 Doris Leuthard said on Thursday a strong political will existed among nations to strike a deal despite the continued failure to reach a consensus. Time is of the essence for the stalled Doha round as the Bush administration’s fast-track trade negotiation powers are due to expire at the end of June. Earlier this week Pascal…

EU puts more pressure on Bern on tax issue

This content was published on Apr 26, 2007 The criticism concerns tax relief – described as illegal and politically unacceptable – offered by a number of Swiss cantons on profits generated by companies inside the EU. “The European Commission has no doubt that cantonal tax schemes qualify as tax subsidies because they offer an unfair tax advantage to companies in Switzerland for profits…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Government closes chapter on book agreement

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Winter tourism figures better than feared

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Sulzer share coup results in fallout

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Phishers angle their way into economic crime

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Auction house stages virtual sale in Geneva

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Merz tax plans sidestep EU critics

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SNB signals further interest rate hikes

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Dry weather fires up irrigation debate

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Leuthard says trade talks at “decisive stage”

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EU puts more pressure on Bern on tax issue

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