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Glencore to acquire Peru copper miner Marcobre

This content was published on Jul 18, 2011 The $475 million (SFr388 million)cash deal is subject to regulatory approval and is expected to close in October, Glencore said in a statement. Marcobre is the sole owner of the Marcona Copper Property and the Mina Justa Project – the company’s principal copper exploration and development project. “Mina Justa would ideally complement Glencore’s existing polymetallic…

Swiss banks believed to house Greek taxes

This content was published on Jul 17, 2011 This, however, is largely the fault of Athens, according to Swiss-Greek economist Spyridon Arvanitis. Ultimately, the only people who know how much untaxed Greek money is in Switzerland are the banks. “I’ve heard every amount possible – even up to the sum of the Greek debt,” Arvanitis, from the Swiss Economic Institute (KOF) at the…

Distill of the night

This content was published on Jul 16, 2011 To be precise, it’s the Antica Distilleria Beretta, licensed in 1792, though the license was transferred from Ticino to this alpine valley just a few years ago. It’s a 100+ year-old building, the former post office and restaurant where stage coaches changed horses for the big pass to the west, and where travelers would eat.…

Too rich (or poor) to pitch?

This content was published on Jul 16, 2011 Switzerland’s 419 campsites registered a ten per cent drop in overnight stays in 2010 compared with the previous year, and, according to a straw poll of sites contacted by swissinfo.ch, 2011 is not off to a great start. A growing number of cash-strapped Britons have caught camping fever and are joining seasoned campers by investing…

Underage drinking falls at sports venues

This content was published on Jul 15, 2011 Tests found alcohol was sold to the underaged in 34.4 per cent of cases during the season 2010/2011 compared with in 61.6 per cent of cases in the season 2009/2010. Under Swiss law beer and wine cannot be sold to anyone under 16 and spirits to people under 18. The Swiss Alcohol Board also checked…

US probe targets Credit Suisse

This content was published on Jul 15, 2011 The bank said it received a letter notifying it that it was being probed by the DoJ on Thursday. “Subject to our Swiss legal obligations, we will continue to cooperate with the US authorities in an effort to resolve these matters,” Credit Suisse said in a statement released on Friday. It added that it had…

Russia: grail or graveyard for SMEs?

This content was published on Jul 14, 2011 With no way of accurately measuring how far or how fast Russia’s economic reforms will go, small and medium sized enterprises (SMEs) have to play a smart game to avoid losing their investments. There are around 150 Swiss companies with a physical base in Russia employing some 75,000 people, according to official Swiss statistics. But…

Leuthard warns against egoism in green issues

This content was published on Jul 14, 2011 In a speech at the renowned Massachusetts Institute of Technology (MIT) near Boston the minister pointed to the Swiss opt-out of nuclear energy by 2034 as showing how politics can give impetus to green issues. The effects of climate change are not restricted to national borders and any delay in acting could be fatal, Leuthard…

Melting glaciers store up trouble

This content was published on Jul 13, 2011 Glaciologist Matthias Huss of Fribourg University has discovered that right down to the sea, the Danube, Rhine, Rhone and Po contain a larger proportion of water from glaciers than previously thought. For example, more than a quarter of the water that flows from the Rhone into the Mediterranean in August has its origin in alpine…

Swiss play role in new Russian revolution

This content was published on Jul 13, 2011 Swiss Economics Minister Johann Schneider-Ammann signed a deal on Wednesday with his Russian counterpart Elvira Nabiullina promising cooperation in Russia’s modernisation drive. The declaration reinforced an existing action plan, that last year was extended until 2013, offering Swiss industrial and research expertise to assist the process of upgrading Russia’s infrastructure and economy. “I am sure…

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Glencore to acquire Peru copper miner Marcobre

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Swiss banks believed to house Greek taxes

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Distill of the night

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Too rich (or poor) to pitch?

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Underage drinking falls at sports venues

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US probe targets Credit Suisse

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Russia: grail or graveyard for SMEs?

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Leuthard warns against egoism in green issues

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Melting glaciers store up trouble

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Swiss play role in new Russian revolution

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