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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Car emissions rising due to imported guzzlers, says report 

2020-02-19

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2020-02-19

New cars imported into Switzerland have not been respecting the prescribed norms on CO2 emissions, with emission levels actually rising in 2017 and 2018, says a report published on Tuesday. Nearly half of importers failed to meet compulsory targets in 2018, according to the Federal Office of the Environment’s report for parliament. 

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Portugal set to end tax holidays for foreign residents

2020-02-18

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2020-02-18

Recently, the government of Portugal said it was looking at introducing a tax on foreigners residing in the country on special tax holidays, according to the magazine Bilan. Currently, foreigners moving to Portugal who spend at least 180 days a year in the country pay no income tax for a period of 10 years under a scheme that was launched 11 years ago.

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Swiss private bank Pictet to drop fossil fuel investments

2020-02-18

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2020-02-18

Recently, the private bank Pictet, based in Geneva, announced plans to eliminate all of its investments in companies actively associated with the production and extraction of fossil fuels, according to a press release.

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Swiss environmental agency sets no date for 5G launch

2020-02-17

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2020-02-17

Earlier this week, Switzerland’s Federal Office for the Environment (FOEN) announced it had contacted the cantons at the end of January 2020, informing them it had not set a date for switching on 5G networks. However, mobile networks plan to continue installing 5G equipment after rolling out more than 2,000 antenna last year – a map showing where the new antenna are can be viewed here.

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Switzerland most expensive country in 2020

2020-02-16

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2020-02-16

It will come as little surprise to many that Switzerland has been ranked the world’s most expensive country. Put together by the magazine CEO World, the ranking pulls cost of living data on accommodation, clothing, taxi fares, utilities, internet, groceries, transport, and dining out, from a number of other studies.

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Swiss worry about online data protection, want increased regulation

2020-02-16

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2020-02-16

A survey on digitalisation released this week shows people’s greatest concern revolves around the fate of their personal data, though just as many believe new technologies hold great promise, especially in the areas of medicine, education and smart cities

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“ECB Is Worst-Run Central Bank In The World” – Felix Zulauf Sees 30percent Plunge In US Stocks “Taking The World With It”

2020-02-16

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2020-02-16

Felix Zulauf was a member of the Barron’s Roundtable for about 30 years, until relinquishing his seat at our annual investment gathering in 2017. While his predictions were more right than wrong, it was the breadth of his knowledge and the depth of his analysis of global markets that won him devoted fans among his Roundtable peers, the crew at Barron’s, and beyond.

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Clariant to cut up to 600 jobs as profit falls

2020-02-15

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2020-02-15

The Swiss specialty chemicals firm Clariant says it will cut up to 600 jobs to save money after a drop in profit in 2019. The firm expects the slow economic situation this year to continue to affect demand. “For 2020, given the current sluggish economic environment and continued adverse foreign exchange conditions, growth will be more limited and additional efficiency measures have been defined for each of the businesses to support the margin...

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Thiam ‘proud’ of his record as he departs Credit Suisse

2020-02-14

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2020-02-14

Outgoing Credit Suisse chief executive Tidjane Thiam said he was proud of what he has achieved at the bank as it delivered strong 2019 results and a promising start to this year. Thiam handed in his resignation last week after losing the confidence of the board following a spying scandal that had seriously damaged the bank’s reputation. Thursday was Thiam’s last day in office.

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Investigation opened into Swiss encryption firm linked to CIA

2020-02-13

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2020-02-13

The Swiss government has opened an investigation into a decades-old spying affair involving Swiss firm Crypto, following reports by Swiss public broadcaster SRF, German broadcaster ZDF and The Washington Post. The government confirmed on Tuesday that it had opened an investigation into the reports that Crypto, a Zug-based communications encryption firm, was secretly used by the CIA and West German intelligence services for decades.

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Welfare payments in 2018 averaged CHF10,379 per person

2020-02-13

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2020-02-13

Net expenditure on social assistance in Switzerland increased by 1.3% in 2018 compared with the previous year. The government, cantons and municipalities paid out a total of CHF8.4 billion ($8.6 billion). Each recipient of social assistance received an average of CHF10,379, the Federal Statistical Office said in a statement on Tuesday. This is an increase of 2.4% on 2017.

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Expectations vs Reality | Investec Careers

2020-02-11

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“This is not normal financial services” Find out what our staff say about working at Investec https://invest.ec/2Uy6bPS

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Investec Hackathon

2020-02-10

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Learn how rock-paper-scissors, Pac-Man and mobile treasure hunts can inspire cutting-edge solutions to business challenges. Learn more at https://invest.ec/385Mvqw

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Two Dads of Two

2020-02-10

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Not all families come from a mum and a dad. Justin’s work family helped when he and his husband became fathers to twins. Learn more at https://invest.ec/3bjk9ej

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Credit Suisse chairman hopeful to see out term

2020-02-10

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2020-02-10

The chairman of the Credit Suisse bank says he does not expect to be voted out of office before his term ends next year following the departure of the bank’s CEO on Friday amid a surveillance scandal. Urs Rohner says he has received “clear responses” from shareholders that they back the company board policy to accept CEO Tidjane Thiam decision to step down.

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Switzerland spends more than the EU on education

2020-02-09

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2020-02-09

Switzerland’s public finances rose by 1.7% in 2018 to CHF232.6 billion ($238.8 billion) compared with 2017. As a percentage of the total, Switzerland spent more on education and less on defence than the European Union. The largest budget item remained social protection, costing almost CHF92 billion or 39.4% of the total, the Federal Statistical Office (FSO) said on Thursday.

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Credit Suisse falls back on Swiss roots to restore order

2020-02-09

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2020-02-09

Credit Suisse’s board has defied the wishes of several major shareholders with the surprise axing of chief executive Tidjane Thiam. He has been replaced with Swiss national, and current head of the bank’s domestic operations, Thomas Gottstein.

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Should Swiss watchmakers join forces to stay globally competitive?

2020-02-08

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2020-02-08

As Baselworld continues to face difficulties, the Swiss watch-making industry needs a new platform to showcase its know-how. With watchmakers going it alone with separate initiatives, one industry expert is pushing for a more collaborative effort to keep the industry thriving.

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Credit Suisse CEO surprises markets with shock resignation

2020-02-07

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2020-02-07

Credit Suisse chief executive Tidjane Thiam has resigned from his post following a highly damaging spying scandal that has rocked Switzerland’s second largest bank. Thiam’s departure is nevertheless a surprise as most media expected chairman Urs Rohner to depart.

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Swiss fintech firms venture deeper into Middle East

2020-02-07

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2020-02-07

Swiss fintech company Instimatch has launched into the Middle East, having won a licence to operate in Qatar, and signed up its first Kuwaiti bank. The mineral and cash-rich region is proving a magnet for financial innovation from Switzerland. Instimatchexternal link’s digital platform directly connects deep-pocketed corporate, financial and municipal lenders with global investments.

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