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More aid to developing countries

This content was published on Mar 25, 2009 The government announced on Wednesday that customs duties on these items would be reduced, and that a special website about the import regulations would be put on line. A statement from the economics ministry said that the measures would help developing countries to maintain their production, which is particularly important in times of economic crisis.…

Bankers’ pay to come under scrutiny once again

This content was published on Mar 25, 2009 UBS plans to claw back bonuses if long-term results disappoint, but sustainable investment fund Ethos Foundation wants variable pay to be capped to 50 per cent of base salary to prevent “excessive risk-taking”. Switzerland’s big two banks, UBS and Credit Suisse, have been at pains to stress how far they have slashed remuneration after having…

Swiss banks defend themselves in Berlin

This content was published on Mar 25, 2009 Urs Phillip Roth, head of the Swiss Bankers Association (SBA), told the committee that there would be serious consequences for the economies of both countries if Germany went ahead with the legislation proposed by Peer Steinbrück, Germany’s finance minister. Roth said if the legislation were to be passed it would be like “throwing the baby…

Holcim wants Venezuela to pay for taking control

This content was published on Mar 23, 2009 Holcim said the Venezuelan government had failed to live up to its promise to pay $550 million (SFr620 million) according to an agreement signed in August and had stopped all communication. Holcim’s Venezuelan subsidiary was taken over in June along with two other international cement makers. The compulsory nationalisation was part of a campaign by…

Small companies receive financial boost

This content was published on Mar 23, 2009 The economics ministry announced on Monday that SFr21.5 million ($19 million) from a government stimulus package would be set aside for SMEs from April 1. The money is part of a SFr710-million stimulus package approved by parliament earlier this month. The Federal Professional Education and Technology Office said promoting innovation was particularly important during a…

Mortality rate continues to fall

This content was published on Mar 23, 2009 There has been little fluctuation in the number of deaths in recent years despite a rise in population, according to the Federal Statistics Office. Last year, the Swiss population increased by 1.4 per cent to 7.7 million. Even though they account for more than one in every three deaths, cardiovascular diseases are on the decline…

Unemployment fund faces big deficit

This content was published on Mar 22, 2009 Serge Gaillard, head of the labour directorate of the State Secretariat for Economic Affairs (Seco) told the Zurich-based paper NZZ am Sonntag that although the fund was well prepared for the recession, the extra measures being taken – such as courses for the unemployed – would amass further debts. When the economy improves again the…

Short-term solutions could ease recession woes

This content was published on Mar 21, 2009 Giovanni Ferro Luzzi, professor at the department of political economy at Geneva University, tells swissinfo that government projections that there will be 200,000 jobseekers by 2010 are not surprising. As a stopgap until the economy recovers from the impact of the financial crisis, he recommends companies introduce short-term working, where staff take unpaid leave instead…

Swiss slow travel concept wins global award

This content was published on Mar 20, 2009 At the annual Alpine Convention conference held in Evian, France, last week, Cultural Routes of Switzerland was recognised for its outstanding contribution to sustainable tourism. The Swiss tourism programme is a project of ViaStoria, the Center of Transport History. “We are delighted with this award and hope that it will bring Cultural Routes of Switzerland…

UBS faces new lawsuit over share value

This content was published on Mar 20, 2009 The shareholders say they were duped into investing in Switzerland’s biggest bank, which failed to disclose that its strategy to attract “net new money” was accomplished through a fraudulent scheme. This involved helping wealthy investors evade federal taxes by placing money in undeclared Swiss bank accounts. The lawsuit was first filed on January 30 by…

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