Archive – Banking & Fintech

New project empowers disabled people

This content was published on Jan 22, 2006 The two-year-scheme, which started in January, will enable 400 people, including children, to live at home and will not dictate who can be a carer and how much they should be paid. The programme has SFr43 million ($33.8 million) at its disposal, which will be provided by the state from the invalidity benefit system. Its…

Deiss seeks to expand business ties with India

This content was published on Jan 22, 2006 Deiss was speaking at a business lunch in Bangalore, the capital of the southern state of Karnataka, a city renowned as the information technology heart of India. “Swiss companies are increasingly aware of the potential of this region. Some 20 to 25 Swiss companies engaged in diverse fields have been present in Bangalore for a…

UBS quits Iran

This content was published on Jan 22, 2006 On Sunday UBS corroborated a report in the SonntagsZeitung newspaper, but stressed that implementation of the decision had already begun last autumn. All existing business with Iranian customers – barring those in exile – would be wound down, although it was unclear how long this process would take. Company spokesman Serge Steiner added that the…

Cantons oppose unhealthy tax competition

This content was published on Jan 20, 2006 It follows a controversial decision by canton Obwalden to introduce the lowest corporate taxes in Switzerland. The cantonal finance directors discussed Obwalden’s newly introduced degressive tax system at a meeting in Bern on Friday. But they took no position on the issue. At the end of the meeting they announced they had agreed to set…

Departing Swisscom boss “lost credibility”

This content was published on Jan 20, 2006 Alder resigned after the Swiss government, Swisscom’s major shareholder, rejected his strategy of expanding business overseas by taking over foreign telecommunications firms. Alder told a news conference that he is leaving to let someone new [incoming CEO Carsten Schloter] develop new government-imposed strategies. Bank Vontobel telecoms analyst Panagiotis Spiliopoulos believes Alder could not face implementing…

Tax chiefs consider cantonal reforms

This content was published on Jan 20, 2006 Obwalden sparked criticism from some cantons after voting in the lowest corporate tax rates in Switzerland on January 1 with 18 rivals also lowering their taxes in the New Year. Canton Zurich accused Obwalden of freeloading on their amenities and experts fear that degressive tax will have a negative impact on the economy if the…

Swisscom CEO hands over control

This content was published on Jan 20, 2006 Alder’s resignation comes as Swisscom battles with the government – its majority shareholder – over the firm’s future strategy. Swisscom was instructed at the end of last year by the Swiss government not to make any significant acquisitions outside the country while plans were made to sell off the state’s stake in the firm. In…

Migros makes waves by selling medication

This content was published on Jan 20, 2006 Migros surprised retailers and pharmacists with the announcement that it had gone into partnership with mail order drugs company Zur Rose to run a pilot project in one of its supermarkets. The new service works in the same way as Migros’ film processing service. Customers leave their prescriptions in an in-store post box and can…

Cabinet trade strategy leaves observers baffled

This content was published on Jan 19, 2006 The announcement came on the same day that Economics Minister Joseph Deiss raised doubts about the prospects for an accord between Switzerland and the United States. Deiss said on Wednesday that differences over agriculture could scupper the chances of reaching a deal with the US even before negotiations had started. A decision on whether to…

Deiss tells India to cut red tape

This content was published on Jan 19, 2006 He told business leaders in Calcutta that the challenge for India was to generate greater interest from foreign investors in tapping the country’s huge potential. At a lunch linked with a major economic forum organised by the Confederation of Indian Industry, Deiss said on Thursday the best solution was to cut red tape. “The best…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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New project empowers disabled people

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Deiss seeks to expand business ties with India

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UBS quits Iran

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Cantons oppose unhealthy tax competition

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Departing Swisscom boss “lost credibility”

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Tax chiefs consider cantonal reforms

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Swisscom CEO hands over control

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Migros makes waves by selling medication

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Cabinet trade strategy leaves observers baffled

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Deiss tells India to cut red tape

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