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Swiss president travels to Libya for talks

This content was published on Aug 20, 2009 The Swiss finance ministry confirmed Merz had met high-ranking officials during the trip to Tripoli on Thursday. Reuters quoted a Libyan government source as saying the Swiss president was expected to issue an apology for the arrest of one of the sons of the Libyan leader Moammar Gaddafi. Relations between the countries have been strained…

Tourism industry braced for hard year ahead

This content was published on Aug 20, 2009 Swiss travel group Kuoni’s half-year turnover figures, released on Thursday, were 21 per cent down on the same period last year at SFr1.76 billion ($1.65 billion). Its net loss was SFr51 million, compared with a 26.5 million half year profit in 2008. The travel group, which is among Europe’s top five, said that the results…

Cement giant Holcim reports solid results

This content was published on Aug 20, 2009 Second quarter results released on Thursday show the company, founded in canton Aargau in 1912, posted a net profit of SFr453 million ($421 million), ahead of analysts’ expectations of SFr415 million. Combined with first quarter results, the cement giant churned out SFr787 million in group net income, down from SFr1.3 billion for the same period…

Roads becomes safer as accidents fall

This content was published on Aug 20, 2009 There were 357 road fatalities in 2008, seven per cent fewer than in 2007. The number of serious injuries also fell by nine per cent to 4,780, according to figures published by the Federal Statistics Office on Thursday. Accident figures peaked in the 1970s and have been falling ever since. The numbers from 2008 were…

Export decline widens trade surplus

This content was published on Aug 20, 2009 Exports rose to SFr16.27 billion ($15.1 billion) from the June figure of SFr14.9 billion, but this represents a real 15.1 per cent fall compared with the same month last year. Imports fell by 14 per cent to SFr13.9 billion, resulting in a trade surplus of SFr2.35 billion. Six out of ten export sectors suffered falls…

UBS deal seen as “best of all bad solutions”

This content was published on Aug 20, 2009 The settlement means UBS will give the Internal Revenue Service account details on 4,450 wealthy American clients suspected of breaking tax laws. Commentators praised the deal’s negotiators but worried about mounting pressure on the country’s banking secrecy laws. “For decades Switzerland has been traditionally very hesitant in terms of helping foreign governments, especially when it…

Details of 4,450 UBS accounts to be passed to US

This content was published on Aug 19, 2009 Under the accord, which was signed in Washington on Wednesday, UBS does not face a fine or suffer other punitive damages. The accord is expected to ease tensions in relations between Washington and Switzerland over possible violations of the country’s banking secrecy laws and prevent a clash of Swiss and US jurisdictions. “More than two…

Bern to pass 4,450 UBS account details to US

This content was published on Aug 19, 2009 The process will be governed by the existing tax treaty between Bern and Washington, according to the text of an agreement signed in Washington on Wednesday. US tax authorities have been seeking the confidential details of up to 52,000 clients suspected of cheating the US tax system. The out-of-court settlement saves what had been seen…

Picture It

This content was published on Aug 19, 2009 Send us your photos in jpg, gif or png format, 1,000 pixels maximum width, and 3Mb maximum size.By sending in your pictures, you confirm that you own the copyright to the material and agree to swissinfo using the pictures free of charge. Please don’t forget to supply your name and country of residence as well…

US drops fraud case against UBS bank

This content was published on Aug 19, 2009 A government attorney asked a court in Florida to suspend a trial set for next Monday, saying both sides had initialled a deal. The statement came at the latest status review on Wednesday presided by the Miami district judge, Alan Gold. He told a telephone conference between the parties in the conflict he would cancel…

Internal: Archive

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