Category Archive: 3) Swiss Markets and News

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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
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Switzerland to tax electric vehicles from 2024

2023-04-11

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2023-04-11

Vehicles imported into Switzerland are subject to a 4% tax, with the exception of electric vehicles that attract none. This week, the government decided to end the exception from the beginning of next year.

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How to stop the commoditisation of container shipping

2023-03-09

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2023-03-09

Don’t feel bad if MSC, the Mediterranean Shipping Company, is the biggest ocean-going carrier you have never heard of. It is meant to be that way. Its founder, Gianluigi Aponte, is a publicity-shy Italian billionaire, based in Switzerland, a country with no maritime borders and a culture of secrecy as deep as the ocean.

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Chinese companies choose Switzerland over US and UK to raise money overseas

2023-03-08

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2023-03-08

Chinese companies are flocking to Switzerland to raise capital after being discouraged from listing in the US by geopolitical tensions and in Britain by tougher audit standards.

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Former top Credit Suisse shareholder Harris Associates sells out of bank

2023-03-06

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2023-03-06

One of Credit Suisse’s longest-standing shareholders has sold its entire stake in the scandal-hit Swiss bank after losing patience with its strategy amid persistent losses and a client exodus.

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Swiss banks accused of hiding data behind secrecy laws

2023-02-20

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2023-02-20

Swiss banking secrecy used to be the bane of foreign countries trying to catch tax cheats. Now it’s the turn of Swiss journalists and historians to cry foul of laws that can hinder their work.

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Switzerland sees surge in numbers of foreign workers

2023-02-18

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2023-02-18

The number of new foreign workers moving to Switzerland on long-term contracts increased by a quarter last year compared to 2021, according to official statistics.

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Hefty fines against Swiss pharma giants lifted

2023-02-17

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2023-02-17

An appeals court in France has overturned a record fine imposed by the French competition authority against the Swiss pharmaceutical companies Novartis and Roche.

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Glencore sees earnings reach new highs in 2022

2023-02-16

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2023-02-16

Profits at Swiss mining and trading group Glencore last year were boosted by the explosion in commodity prices. Thanks to a more than threefold increase in net profit, the Zug-based giant wants to double its shareholders’ remuneration, in particular through a share buyback.

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Swiss government plans to strengthen ties with Asia-Pacific region

2023-02-15

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2023-02-15

The Swiss government has for the first time adopted a regional strategy for the Asia-Pacific region for the period 2023-2026. The move takes into account the growing importance of the southeast Asia region and complements the government's China strategy, according to a government statement published on Wednesday.

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Six numbers that show why Credit Suisse has little leeway

2023-02-15

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2023-02-15

Disappointing results leave no more room for accidents as the bank carries out restructuring. It has been a year since Axel Lehmann took over as chair of accident-prone Credit Suisse and about half that since Ulrich Körner became chief executive. But they have yet to stem the problems at Switzerland’s second-biggest bank, caused by a succession of historic scandals and mismanaged risk – from the blow-up of the Archegos family office to the...

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Quantum technology enjoys first commercial successes

2023-02-14

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2023-02-14

Quantum physics is moving out of the lab and into the marketplace. Switzerland, a strong researcher in this field, doesn’t want to miss out and is launching its own quantum initiative. For now, though, it will have to make do without Europe.

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Swiss pharma industry wants to reduce dependence on Asia

2023-02-14

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2023-02-14

The Swiss pharmaceutical industry should be less dependent on active ingredients from Asia, says the president of the industry umbrella organisation, pharmaSuisse. Martine Ruggli has called for new drug companies to be built in Europe.

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Switzerland’s ‘cash initiative’ – what’s at stake?

2023-02-13

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2023-02-13

Swiss citizens look set to vote on a people’s initiative to try to ensure their economy never becomes cashless. What do the campaigners behind the idea really want?

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Shortage of workers cited as top obstacle to Swiss economy

2023-02-13

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2023-02-13

The president of the Swiss Employers' Association wants to increase the potential workforce in Switzerland by 300,000 people. To achieve this, women, young people, the elderly and refugees must be integrated into the labour market or be given more work, said Valentin Vogt on Swiss public radio SRF on Saturday.

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Where did it all go wrong for Credit Suisse?

2023-02-12

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2023-02-12

Widespread analysis of what went wrong at Credit Suisse converges on a constant theme: an international bank that lost touch with its Swiss roots, led by people who put profits ahead of prudence. 

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Commodities trader Trafigura stung by ‘CHF500 million fraud’

2023-02-12

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2023-02-12

Swiss commodities trading company Trafigura says it has been defrauded to the tune of $577 million (CHF530 million) by fake nickel shipments. The firm has launched legal action against a Dubai-based metals trader and the group of companies he runs out of the Middle East emirate.“

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Public sector workers strike in western Switzerland for higher wages

2023-02-11

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2023-02-11

Around 3,500 public sector workers in the western Swiss canton of Vaud took part in a strike on Thursday. They are calling for wage indexation to keep up with inflation and rising living costs.

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Not enough clarity in recycling sector, Swiss oversight body says

2023-02-10

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2023-02-10

The Federal Audit Office says there needs to be more transparency around the various fees and taxes which fund Switzerland’s recycling system. The auditors wrote on Wednesday that CHF176 million ($192 million) in recycling taxes and fees were collected in 2019: these included state-organised prepaid disposal fees on glass and batteries, and voluntary, private sector-run contributions on PET packaging, aluminium, tin cans, electrical appliances and...

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SWISS to resume regular passenger flights to China

2023-02-08

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2023-02-08

Swiss International Air Lines (SWISS) says it will resume passenger flights to the Chinese city of Shanghai early next month following an easing of travel restrictions.

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The most critical questions about the Swiss central bank’s huge losses

2023-02-07

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2023-02-07

The Swiss National Bank (SNB) booked a CHF132 billion ($143 billion) loss in 2022 and suspended profit-sharing transfers to the Confederation and cantons. What does that mean exactly? And how does the SNB fare in international comparison?  Fabio Canetg More from this author Last year, the SNB lost more money than ever before. And it is not alone: central banks around the world also recorded heavy losses. As a...

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