Archive – Banking & Fintech

Beijing rebuffs Bern on luxury watch tax

This content was published on May 31, 2006 Beijing’s response, which was confirmed by the Swiss economics ministry on Wednesday, stated that the measure was not discriminatory as it covered all watches whether manufactured locally or abroad. The Chinese authorities introduced the luxury tax at the beginning of April on watches costing more than SFr1,600 ($1,322), leading the Swiss authorities to intervene. The…

Swiss business aircraft takes off in the US

This content was published on May 31, 2006 Figures for the PC-12 reached new heights in 2005, with 63 of 80 sales being made through the company’s United States subsidiary in Colorado. “I think the plane’s popularity is down to its economics and versatility,” Fred Muggli, head of marketing for Pilatus, told swissinfo. “The acquisition cost and direct operating cost is outstanding.” Indeed…

Rock fall cripples transalpine traffic

This content was published on May 31, 2006 Traffic jams of up to 15 kilometres were reported on either side of the San Bernardino Pass, the main alternative route linking northern Europe and Italy. Lorries were temporarily banned from using either route, which meant they had to skirt the country altogether, or transfer their freight to rail. It was not clear for how…

Singapore “no threat” to Swiss foreign banks

This content was published on May 31, 2006 The 150 members of the association gained six per cent in new investments last year and now manage assets in Switzerland of SFr873 billion ($713 billion), figures revealed on Monday. Leemann believes the wealthy will continue to bank in Switzerland because the Asian markets are too remote and are not well enough established. The AIG…

Authorities oppose topping up pension scheme

This content was published on May 30, 2006 Finance Minister Hans-Rudolf Merz said the plan would not only deprive the federal government and the cantons of much needed funds, but also threatened the bank’s independence. Merz warned on Tuesday in Bern that shifting profits to the pension scheme would leave the federal authorities with a shortfall of around SFr833 million ($689.6 million) annually.…

Airport restrictions could harm economy

This content was published on May 29, 2006 The former head of the Swiss Institute for Business Cycle Research, Bernd Schips, believes meeting increased demand for air transport is vital if Switzerland is to remain competitive. The economist was commissioned by Zurich airport operator Unique to examine the consequences of flight restrictions after local residents objected to the amount of noise pollution caused…

Foreign banking sector beats squeeze to prosper

This content was published on May 29, 2006 The 150 banks administered SFr873 billion ($713 billion) of clients’ money, an increase of 17 per cent from 2004, while recording a 28 per cent rise in profits to SFr2.363 billion. Foreign banks account for more than 15 per cent of the entire industry’s profits in Switzerland and make up 45 per cent of the…

Government awarded “Swiss” web addresses

This content was published on May 29, 2006 The authorities had been locked in a dispute since 2000 with a Swiss businessman who had registered www.schweiz.ch, www.suisse.ch and www.svizzera.ch (“Switzerland” in German, French and Italian) in 1995. The Geneva-based institution’s ruling, published on Monday, means the government can now officially use the terms “schweiz”, “suisse” and svizzera”, which they already use when entering…

Public’s view of tobacco goes up in smoke

This content was published on May 28, 2006 The health office has nevertheless set itself a target of reducing the number of smokers from 30 per cent of the population to 20 per cent over the next ten years. Its anti-tobacco drive is bearing fruit. Since 2001 the percentage of smokers in Switzerland has dropped from 33 per cent to 30 per cent…

Burckhardt compressors pressurise the world

This content was published on May 27, 2006 The company, which makes machines that can squeeze gases into liquid form, feels that going public will set it on a new course to grow independently and strengthen its market position. A former part of the Sulzer family, the firm has performed well in recent years, although the public knows little of what it actually…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Beijing rebuffs Bern on luxury watch tax

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Swiss business aircraft takes off in the US

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Rock fall cripples transalpine traffic

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Singapore “no threat” to Swiss foreign banks

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Authorities oppose topping up pension scheme

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Airport restrictions could harm economy

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Foreign banking sector beats squeeze to prosper

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Government awarded “Swiss” web addresses

More

Public’s view of tobacco goes up in smoke

More

Burckhardt compressors pressurise the world

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