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“Alcopops” price hike aims to protect teens

This content was published on Jun 19, 2003 On Thursday, the Senate agreed to a government proposal to quadruple the tax on so-called “alcopops”. The issue still needs the approval of the House of Representatives. Health officials argue that the beverages – a blend of spirits with soft drinks or fruit juice – are too appealing to young people, many of whom are…

Swiss drum up support for Information Summit

This content was published on Jun 19, 2003 The first phase of the summit – hosted by Switzerland – kicks off in December, while a second round of high-level talks is slated to take place in Tunisia in 2005. “I feel we are behind, although others say we’re ahead,” Mark Furrer, head of the Federal Communications Office, told swissinfo. “We have to use…

German government paves way for tax amnesty

This content was published on Jun 18, 2003 German citizens are estimated to have about €300 billion in banks abroad, about €100 billion of which is held in Switzerland. Swiss banks are playing down the likely impact of the amnesty, details of which first appeared last year. The country’s financial institutions weathered a similar amnesty in Italy – introduced in November 2001 –…

UBS cuts 500 jobs

This content was published on Jun 18, 2003 The company said the move was the result of a downturn in equity trading and merger activities. “When we were looking at market conditions we felt we had to adjust our headcount to the market,” Christof Meier, a UBS spokesman, told swissinfo. The job cuts will affect some three per cent of the bank’s 16,000…

Swiss Railways is watching you

This content was published on Jun 18, 2003 The move is a response to increased violence and vandalism on the railways. In 2002 there were 345 such incidents on Swiss trains, more than double the number of the previous year. “In the past few years we have seen violence increase significantly,” Swiss Federal Railways spokesman Roland Binz told swissinfo. “In particular against railway…

Families get tax break in election year

This content was published on Jun 17, 2003 The decision, which comes as the Swiss gear up for national elections in October, is opposed by the cantons. Under Switzerland’s complicated three-tier tax system, they stand to lose over SFr500 million in revenue. The cantons will decide on Friday whether to call a nationwide vote on the issue. There were even grumblings in the…

Swiss focus on global desertification

This content was published on Jun 17, 2003 Switzerland – as one of 187 parties to the United Nations Convention to Combat Desertification (UNCCD) – has spent millions of Swiss francs on battling the phenomenon. More than four billion hectares of the world’s surface are affected by desertification, which has nothing to do with the expansion of existing deserts and everything to do…

Euro fails to make inroads in Switzerland

This content was published on Jun 16, 2003 A new study reveals that the franc remains the most popular currency in Switzerland, and that the euro has not become a major competitor. Switzerland is not a member of the European Union, but the euro has been accepted as payment for goods and services in many shops and restaurants since the notes and coins…

Subterranean lake comes back from the dead

This content was published on Jun 16, 2003 Its resurrection is down to the faith and perseverance of local people who raised the SFr2.5 million ($1.9 million) necessary to carry out the repairs. The lake at St Léonard in canton Valais is nearly 300 metres long, has an average width of 15 metres and remains at a constant 11 degrees Celsius. But disaster…

Zurich continues asset overhaul

This content was published on Jun 16, 2003 The deal reflects Zurich’s strategy to refocus on its core business and return to profitability after several years of financial troubles. The sale, which fell short of the SFr1 billion price tag originally put on Threadneedle – one of Britain’s largest fund managers – comes two weeks after Zurich offloaded most of its United States…

Cluster: Archive

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