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Julius Bär posts better-than-expected results

This content was published on Feb 5, 2010 The world’s largest dedicated wealth manager said full year net profit had increased to SFr473 million ($446 million), ahead of expectations, and that assets under management of private clients grew by 19 per cent to SFr154 billion. The Zurich-based bank nevertheless cut its dividend by 20 per cent to SFr0.40 per share. Inflows into the…

Corporate giants outgrow Swiss roots

This content was published on Feb 4, 2010 Jimenez, in his own words, doesn’t even notice that Novartis is Swiss. In the era of multinational corporate giants, the management code appears to be universal and nationality irrelevant. But how far have Swiss-based multinationals drifted from their roots? In a global marketplace is corporate culture the only culture that counts? Success brings expansion, and…

Foreign trade has “annus horribilis” in 2009

This content was published on Feb 4, 2010 Exports and imports both fell by SFr26 billion ($24.51 billion), dropping back to 2006 levels. The Swiss watch industry had a particularly bad year with a 22 per cent fall in exports in 2009 compared with the previous year. Overall exports slumped by 12.6 per cent to SFr180.3 billion in 2009, the sharpest decline since…

Papers say data theft highlights Swiss weakness

This content was published on Feb 4, 2010 Commentators wrote that Finance Minister Hans-Rudolf Merz and the Swiss cabinet have little room to negotiate with the country’s largest single trading partner. German Chancellor Angela Merkel said earlier this week that Germany would do what it could to fight tax evasion. An unknown informant has offered to sell data on some 1,500 bank clients…

Ticino dishes up a record

This content was published on Feb 3, 2010 At only 198 metres above sea level, the delta of the River Maggia in the area around Ascona and Locarno is the lowest area in Switzerland. But that is not the only record held by this sandy-loamy wet land on the shores of Lake Maggiore. Since 1997 it has been used for rice cultivation, the…

Swiss pharmaceutical duo “best in global class”

This content was published on Feb 3, 2010 Having trailed behind Roche over the last few years, Novartis appeared to have turned a corner with a record-breaking performance in 2009. Roche is tipped to amply recoup the acquisition costs that dented its 2009 profits. Both Basel-based firms are standing on solid foundations and are poised to reap strong benefits in the next two…

Arms sanctions against Eritrea approved

This content was published on Feb 3, 2010 The UN Security Council approved the move and other sanctions in late December last year over Eritrea supplying weapons to Islamic insurgents opposed to the Somali government and refusing to resolve a border dispute with neighboring Djibouti. Switzerland’s embargo will come into force on Thursday and will concern the delivery, sale and export of all…

Genentech takeover pushes Roche results down

This content was published on Feb 3, 2010 The company took over California-based Genentech, a biotechnology firm, in March 2009 despite strong opposition from the Genentech board – a move that cost Roche $46.8 billion. Sales rose eight per cent to SFr49.05 billion and core earnings per share were up ten per cent to SFr12.19. The results were below analysts’ expectations, but Roche…

EU immigration slows down

This content was published on Feb 2, 2010 At the end of December 2009, the number of permanent residents of EU and Efta nationality reached 1,066,086, an increase of 3.9 per cent on 2008, according the Federal Migration Office. The previous year on year growth for the same group reached 6.8 per cent. Authorities said the slowdown in immigration corresponded with the economic…

Berlin bank data attack threatens Switzerland

This content was published on Feb 2, 2010 The latest diplomatic spat with another country places Swiss banking secrecy under even greater pressure and has left observers wondering if Switzerland will flinch first under the latest assault. Just when Switzerland thought they had seen the back of one troublesome German finance minister (Peer Steinbrück), his successor on Tuesday confirmed Chancellor Angela Merkel’s earlier…

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Julius Bär posts better-than-expected results

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Corporate giants outgrow Swiss roots

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Foreign trade has “annus horribilis” in 2009

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Papers say data theft highlights Swiss weakness

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Ticino dishes up a record

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Swiss pharmaceutical duo “best in global class”

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Arms sanctions against Eritrea approved

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Genentech takeover pushes Roche results down

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EU immigration slows down

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Berlin bank data attack threatens Switzerland

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