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Switzerland hit by currency devaluation race

This content was published on Oct 11, 2010 Swiss exporters are already facing the double whammy of a franc strengthening against the euro and the dollar. And there are signs of more trouble as the United States, China, Japan and other nations signal further currency weakening. Recent weeks have seen a spate of statements from around the world indicating future rounds of quantitative…

“Flying boat” dips its wings in Lake Geneva

This content was published on Oct 8, 2010 Hydroptère.ch, a prototype catamaran based on the world’s fastest sailboat, was gently lowered into the clear waters near St Sulpice, west of Lausanne, on Friday. A five-man crew plan to test the new design, materials and boat behaviour over the coming months on Lake Geneva. The new ten-metre test boat uses the same hydrofoil design…

Central bank head warns recovery is fragile

This content was published on Oct 8, 2010 Philipp Hildebrand said in a statement published on the IMF’s website on Friday that the “immediate policy priority” was to strengthen sustainable growth. He added that the scope, nature and timing of policy responses would vary across countries. “Many countries emerge from this crisis with high debt burdens, and many central banks have yet to…

Yahoo! plans expansion in Switzerland

This content was published on Oct 8, 2010 Although Yahoo! bought the land for the centre three years ago, its plans ran into local opposition and work at the site only started on Thursday. Yahoo! co-founder Jimmy Yang made a whistle-stop tour to the western town of Rolle this week, site of the company’s European headquarters, to present Yahoo!’s plans for Switzerland. Rich…

Swiss come top in wealth survey

This content was published on Oct 8, 2010 In its inaugural Global Wealth Report, the institute says that the average wealth per adult in Switzerland in 2010 was $372,692 (SFr360,338) an increase of 60 per cent since the year 2000. Switzerland is followed in this ranking by Norway, Australia, Singapore, France, Sweden, the United States, Luxembourg, Britain and Italy. At the other end…

Geneva struggles to attract foreign business

This content was published on Oct 7, 2010 The city has been at a housing and transport standstill for years, and without the necessary infrastructure Geneva could not cope with a large influx of people, should a major firm want to relocate there. “We would hesitate to welcome a company with more than 5,000 employees, because we would not know where to house…

Novartis enters partnership in fight against flu

This content was published on Oct 7, 2010 Basel-based Novartis said its collaboration with the United States group was aimed at accelerating the production of flu strains required for vaccine manufacturing. A statement on Thursday said that the three-year agreement could ultimately lead to a more effective response to seasonal and pandemic flu outbreaks. Novartis and other vaccines companies currently rely on the…

Zurich pays heavily to settle claim in US

This content was published on Oct 7, 2010 The insurance company, based in Switzerland’s largest city, said the money would go to a total of up to 13 million policy holders, plus another $90 million in attorneys’ fees. In a statement on Thursday, the company said that while the allocation plan for payments to class members had not yet been determined, and while…

Migrant workers change face of Switzerland

This content was published on Oct 6, 2010 However, unions say that the study, which shows the new breed of highly skilled immigrant employees bringing net gains to Zurich and eastern Switzerland, only paints part of the picture. The Immigration 2030 report by the Zurich Cantonal Bank paints a generally positive picture of migrant employees since Switzerland lifted barriers to European Union workers…

“Fair taxes” are unfair for competitiveness

This content was published on Oct 6, 2010 Finance Minister Hans-Rudolf Merz said that the “fair tax” initiative by the Social Democrats would make Switzerland a less attractive location for doing business as well as reducing tax sovereignty of the cantons. This, Merz added, would lead to job losses and lower living standards. Swiss voters will decide on November 28 whether to accept…

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Internal: Archive

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Switzerland hit by currency devaluation race

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“Flying boat” dips its wings in Lake Geneva

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Central bank head warns recovery is fragile

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Yahoo! plans expansion in Switzerland

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Swiss come top in wealth survey

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Geneva struggles to attract foreign business

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Novartis enters partnership in fight against flu

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Zurich pays heavily to settle claim in US

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Migrant workers change face of Switzerland

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“Fair taxes” are unfair for competitiveness

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