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IMF backs franc exchange rate policy

This content was published on Mar 20, 2012 However the organisation stressed that as soon as “economic conditions normalise” the SNB should revert to a free floating currency and warned that a delay could increase the risk of inflation. The assessment came at the conclusion of an annual visit to Switzerland during which the IMF delegation held talks with the government, private sector…

Glencore makes $6-billion grain acquisition

This content was published on Mar 20, 2012 Glencore will immediately sell the majority of Viterra’s Canadian assets and certain other businesses to Agrium and Richardson International for about $2.61 billion in cash, it said. The arrangement indicates Glencore is mainly interested in Viterra’s lucrative overseas assets — including Australia’s largest grain handler — while its vast Canadian assets will remain domestically controlled.…

Smartphone penetration “close to 50 per cent”

This content was published on Mar 20, 2012 Four out of five young adults who took part in the Swiss price comparison website comparis.ch survey own such a device. The survey of some 1,200 people aged 15 to 74 was conducted through the website by market research institute Link at the end of February 2012. Of the respondents, 48 per cent said they…

Mühleberg decision heartens foreign activists

This content was published on Mar 19, 2012 If the plant, just outside Bern, really is closed down, this would step up pressure on old nuclear stations at home and abroad. The court said Mühleberg must close by June 2013 unless the operators, BKW, show that they are prepared to invest massively in maintenance and repair. Among the causes of concern it cited…

ABB takes nautical lead in energy race

This content was published on Mar 19, 2012 One of the frontrunners, Swiss-Swedish technology company ABB, recently raised the bar by pioneering a system for improving the efficiency of electrical power on board ships. ABB’s onboard direct current (DC) power grid promises to save up to 20 per cent on fuel consumption and carbon emissions in boats. The company hopes that its energy…

Chairman of Julius Bär steps down

This content was published on Mar 19, 2012 The bank said Raymond J. Bär would not stand for re-election to the board next month. Daniel J. Sauter will be nominated as chairman instead. The Bär family holds a minority stake in the bank. A statement on Monday said Bär would assume an honorary role that included “overseeing the ongoing cooperation with US authorities”.…

Germany wants changes to Swiss tax deal

This content was published on Mar 19, 2012 A ministry spokesman said on Monday that any discussions would centre on changes to the text. No details were given. The accord, which has not yet been ratified by Germany, has been under threat after German opposition parties said it was too soft on tax evaders who had stashed an estimated SFr150 billion ($163 billion) in…

Belgium mourns as bodies flown home

This content was published on Mar 16, 2012 White coffins were loaded into two Hercules transport aircraft near the Swiss town of Sion and landed at a military airport near Brussels from where undertakers collected them after a short ceremony. A third plane returned with their belongings. The repatriations occurred as Belgium and the Netherlands observed a minute’s silence during a national day…

Day of mourning held for coach crash victims

This content was published on Mar 16, 2012 Meanwhile, the repatriation of the bodies of the crash victims started on Friday morning, canton Valais police said. Some survivors have already flown home. The accident, near Sierre, canton Valais, killed 22 children and six adults from the Flemish part of Belgium travelling home after a ski holiday on Tuesday evening. Twenty-four children were hospitalised. The…

First victims of Swiss bus crash return home

This content was published on Mar 16, 2012 Meanwhile, flights carrying the bodies of the 28 victims of the crash started on Friday morning, canton Valais police said. The accident near Sierre, canton Valais, killed 22 children and six adults travelling home after a ski holiday. Twenty-four children were hospitalised. Some of the families of the victims flew back home to Belgium out of…

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IMF backs franc exchange rate policy

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Glencore makes $6-billion grain acquisition

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Smartphone penetration “close to 50 per cent”

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Mühleberg decision heartens foreign activists

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ABB takes nautical lead in energy race

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Chairman of Julius Bär steps down

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Germany wants changes to Swiss tax deal

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Belgium mourns as bodies flown home

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Day of mourning held for coach crash victims

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First victims of Swiss bus crash return home

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