Internal: Archive

Dam fund gets conditional approval

This content was published on Dec 15, 2006 The proposed Ilisu dam in the southeastern province of Anatolia has provoked controversy because it will flood a large area and force 55,000 people, mostly Kurds, to leave their homes. On Friday, the Swiss authorities gave the go-ahead to the Export Credit Agency (ECA) to guarantee the export risks of Alstom Switzerland, Maggia, Stucky and…

New national power grid firm goes online

This content was published on Dec 15, 2006 But ownership of swissgrid, set up by six major power producers, is still being discussed by parliament. The company was formed ahead of major changes afoot in the electricity market. Swiss electricity legislation is currently being revised and discussions about a bilateral agreement with the European Union are supposed to get underway. The EU has…

Doubts remain over new EU chemicals law

This content was published on Dec 14, 2006 The Swiss, who are not in the EU, have set up an external study to check how viable the move would be for the country’s businesses. The EU’s legislation, passed by its parliament on Wednesday, comes after years of fierce debate between industry – anxious to avoid red tape and high costs – and environmental…

Senate approves CO2 tax plan

This content was published on Dec 14, 2006 But the Senate on Thursday opted for a more moderate levy than the government’s proposal. Reducing levels of harmful carbon dioxide emissions is an integral part of Swiss climate policy. The government has adopted the Kyoto Protocol on reducing greenhouse gases, as well as a tough CO2 law. The law stipulates that there should be…

Central bank touches the brakes once more

This content was published on Dec 14, 2006 It indicated it would continue its gradual monetary tightening campaign as long as the economy continued to grow as planned, despite ultra-low inflation. The SNB said it had raised the target range for its benchmark rate – the three-month Swiss franc London Interbank Offered Rate or Libor – to 1.5-2.5 per cent, aiming for the…

Novartis sells food unit to Nestlé

This content was published on Dec 14, 2006 As a result of the deal, announced on Thursday, about 2,000 employees of Medical Nutrition with their specific expertise will join the Nestlé Group. Based in Gland, western Switzerland, Medical Nutrition is expected in 2006 to generate around $950 million in net sales and around $90 million of operating income. It is active in around…

EU renews tax offensive against Switzerland

This content was published on Dec 14, 2006 Switzerland once again reiterated its view that plummeting cantonal tax rates do not contravene the 1972 Free Trade Agreement with the EU. The issue first popped up in September 2005, the day after the Swiss voted to extend open borders for EU workers to new member states in eastern Europe. The EU executive body, the…

UBS denies “defrauding” US customers

This content was published on Dec 13, 2006 Switzerland’s largest bank accused the New York Attorney General’s office of cherry picking information to support its case against UBS Financial Services while ignoring other valid evidence. UBS was slapped with a writ on Tuesday suing it for fraud and breaches of fiduciary duty. The bank is alleged to have duped some clients into annual…

Leuthard networks in Washington

This content was published on Dec 13, 2006 Leuthard’s first official visit to Washington focused on stalled World Trade Organisation (WTO) negotiations and on bilateral relations in general. “I am very happy with the results of the meetings,” she told swissinfo. Leuthard said the Bush administration had given the go-ahead for Swiss investors to participate in the federal reconstruction plan for the area…

Federal budget gets stamp of approval

This content was published on Dec 12, 2006 The Senate on Tuesday followed the House of Representatives, bringing to an end the negotiations on what is normally a controversial issue. The 2007 budget is based on SFr56 billion in revenue and SFr55.1 billion in expenditure and differs only slightly from the government’s proposed surplus of SFr918 million. Both houses of parliament approved extra…

Internal: Archive

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Internal: Archive

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Dam fund gets conditional approval

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New national power grid firm goes online

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Doubts remain over new EU chemicals law

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Senate approves CO2 tax plan

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Central bank touches the brakes once more

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Novartis sells food unit to Nestlé

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EU renews tax offensive against Switzerland

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UBS denies “defrauding” US customers

More

Leuthard networks in Washington

More

Federal budget gets stamp of approval

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