Category Archive: 3.) Swissinfo Business and Economy

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EU removes Switzerland from tax haven lists 

2019-10-11

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2019-10-11

Switzerland has acknowledged the fact that European Union will remove the country from its grey list for tax havens following a reform of the corporate tax system. “Switzerland meets and implements international tax standards. The European Union has acknowledged this...” said a statement, released by the State Secretariat for International Finance (SIF), on Thursday.

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Geneva commuters fall out of love with cars

2019-10-11

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2019-10-11

Commuters in the Geneva region are becoming increasingly disillusioned with private cars and are embracing “multimodal” forms of transport, a survey has found. An in-depth survey of commuter behaviour in the Greater Geneva region – covering canton Geneva, the Nyon region in neighbouring canton Vaud, and France – has revealed an increasingly negative attitude towards driving.

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Where do Swiss parties stand on environmental policies?

2019-10-10

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On October 20 the Swiss will elect their new parliament and all eyes are on the Greens and Liberal Greens, who could profit from the environmentalist hype raised by climate demonstrations. But where do right-wing parties stand? We checked the different parties’ positions on climate issues. Nouvo brings you short videos about Switzerland, Swiss current …

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New Swiss 100-franc banknote blocks certain ATMs

2019-10-10

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2019-10-10

The new CHF100 ($100) banknote, which went into circulation last month, has blocked bank ATMs in half a dozen German-speaking Swiss cantons. Bank machines belonging to the PostFinance bank do not seem to like the new blue CHF100 note, which was officially launched on September 12.

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Swiss are skilled but not so dynamic, finds ranking

2019-10-10

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2019-10-10

Switzerland has slipped down a slot in the annual Global Competitiveness Index from the World Economic Forum (WEF). Having come in fourth in 2018, Switzerland now follows Singapore, the United States, Hong Kong and the Netherlands. The index covers 141 countries. The world economy is not ready for a major slowdown, warns WEF.

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Swiss firms give over CHF5 million a year to parties and candidates

2019-10-09

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2019-10-09

Switzerland’s biggest firms – mainly banks, pharmaceutical firms and insurance companies - donate at least CHF5 million ($5 million) a year to political parties and candidates, a survey has revealed. The poll of 140 companies by Swiss public radio RTS, published on Tuesday, found that one in five firms donate regularly to political parties or politicians, to the tune of CHF5 million annually.

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Switzerland’s top UN diplomat in New York

2019-10-09

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2019-10-09

When Antonio Guterres was elected United Nations Secretary General in 2016, some criticized the decision because they thought a woman should finally be at the helm of the international organisation. To his credit, Guterres has filled many of the UN’s top posts with women including Mirjana Spoljaric – Switzerland’s top ranking UN diplomat in New York.

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Switzerland shares details of 3.1 million bank accounts held by foreigners

2019-10-08

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2019-10-08

In its second-ever data sharing exercise as part of a global automatic exchange of information (AEOI) treaty, Switzerland shared financial account information with 63 partner countries. On Monday, the Swiss Federal Tax Authority revealed that it had provided details of around 3.1 million bank accounts held by foreigners to the countries of their origin.

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‘A Swiss should run Credit Suisse’ ex-CS head tells newspaper

2019-10-07

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2019-10-07

In an interview with the newspaper NZZ am Sonntag, former Credit Suisse CEO Oswald Grübel has criticized the large Swiss bank for its handling of the current crisis. By maintaining that CEO Tidjane Thiam was unaware of the spying affair, the bank is harming the Swiss financial sector, Grübel said in an interview published on Sunday.

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Hackers attack Swiss consumer protection agency

2019-10-06

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2019-10-06

Hackers successfully attacked the website of the Swiss Consumer Protection Foundation last month, placing links to fake stores within the agency’s online shopping pages. The hack was detected within two hours and the malicious links were removed, said the foundation, which regularly warns consumers about online fraud.

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EU to remove Switzerland from tax haven lists

2019-10-05

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2019-10-05

European Union finance ministers are set to remove Switzerland and the United Arab Emirates (UAE) from the bloc’s lists of countries deemed to act as tax havens, an EU document said. On October 10 they are expected to remove Switzerland from the grey list that includes countries that have committed to change their tax rules to make them compliant with EU standards.

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Novartis and Microsoft to develop drugs using AI

2019-10-05

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2019-10-05

Swiss pharmaceutical firm Novartis and computer giant Microsoft have signed a five-year partnership deal aimed at transforming the Basel-based pharma’s business - from finance to manufacturing - using artificial intelligence.

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Fête des Vignerons seeks millions to fill financial hole

2019-10-04

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2019-10-04

The organisers of the Fête des Vignerons – a traditional winegrowers’ festival in the Swiss lakeside town of Vevey – is scrambling to cover its multi-million-franc deficit for 2019. The local winegrowers’ guild behind the once-in-a-generation private festival, which started in the 17th century, reported a CHF15 million ($14.9 million) loss for the 2019 edition on Tuesday.

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Credit Suisse braced for ‘spygate’ reputational fallout

2019-10-03

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2019-10-03

The usually discrete world of Swiss private banking has been shaken by spying revelations at Credit Suisse, the country’s second largest wealth manager. Chairman Urs Rohner has acknowledged that the sordid affair has damaged the reputation of the bank and the Swiss financial centre.

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Credit Suisse COO resigns over spying scandal

2019-10-02

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2019-10-02

Credit Suisse Group Chief Operating Officer Pierre-Olivier Bouee has resigned following a spying scandal that has rocked Switzerland’s financial circles and which the lender said caused severe reputational damage to the bank. Bouee, a long-time associate of Chief Executive Officer Tidjane Thiam, assumed responsibility for the surveillance of former Credit Suisse executive Iqbal Khan along with the bank’s head of security.

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How a father-son duo is helping save bees

2019-10-01

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Pascal Brunner is a young Swiss who grew up in a beekeeping family. He and his father have launched a start-up that combats one of today’s biggest threats to bee populations: the Varroa mite. Vatorex is a heat treatment which kills the mites, but doesn’t harm the bees, when applied. It differs from other Varroa-mite-fighting …

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What Swiss living abroad want from politicians at home

2019-10-01

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What do Swiss citizens abroad expect from a new parliament? From the politics of their homeland? We asked them. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch …

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This Swiss start-up wants to help us empathise

2019-10-01

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What if you could beam people into your world, not using futuristic equipment, but a smartphone? This is what HoloMe, a Swiss start-up in London, sees as the future of communication. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss …

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A sex change in the army

2019-10-01

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Lieutenant colonel Christian Hug told his bosses that he was going to become a woman. The army supported his decision and now Christine is the first transgender Swiss army officer. She will soon undergo a sex change operation. — swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report …

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Swiss accident insurer to cut 170 jobs

2019-10-01

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2019-10-01

Between 2021 and 2027, the Swiss National Accident Insurance Fund (SUVA)external link plans to cut about 20% of its jobs in the claims management department. Currently, that department has more than 800 jobs, including agency clerks, district physicians, insurance physicians at the head office and lawyers for objections and court cases.

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