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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Watchmaking workforce remains stable despite pandemic

2021-12-28

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2021-12-28

The annual census of the Swiss watch industry labour force found that partial unemployment helped the industry weather the pandemic over the last year. The number of employees in the industry remained stable in 2021 while the share of high skilled staff increased.

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Swiss ski manufacturer facing global supply chain disruption

2021-12-28

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The pandemic disrupted global supply chains, causing delayed deliveries for raw materials and crucial components. Those affected had to scramble to keep their production chain going. We visited Swiss ski manufacturer Stöckli in Lucerne to see how they adapted to the new situation. --- 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...

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In global supply chain crisis, even Swiss skis are counting the cost

2021-12-27

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2021-12-27

Shortages of raw materials and logistics bottlenecks have made 2021 a tough year for Swiss manufacturers, and contributed to a downgrade in the government’s GDP growth forecast for the economy next year. 

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Credit Suisse sacks managers over Greensill scandal

2021-12-26

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2021-12-26

The Credit Suisse bank has fired the managers overseeing a multi-billion-dollar fund strategy linked to the now-defunct Greensill Capital.

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Switzerland set to tax e-cigarettes

2021-12-25

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2021-12-25

On 17 December 2021, Switzerland’s Federal Council put forward a plan to tax the liquids used for e-cigarettes, reported RTS. The Federal Council is proposing a tax similar to the tax on tobacco but at a lower rate in line with e-cigarettes’ lower toxicity. The government does not want to discourage tobacco smokers from transitioning to e-cigarettes and proposes a rate 77% lower than the tax on tobacco cigarettes.

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How a secretive central bankers’ club responds to crises

2021-12-24

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2021-12-24

Every other month, the world’s most influential central bank governors gather in Basel to swap notes, reinforce personal ties and untangle the technical details of keeping money flowing around the world.

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US charge extradited Russian businessman with hacking, insider trading

2021-12-23

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2021-12-23

The Russian businessman extradited from Switzerland to the United States and four other Russians have been charged with carrying out a $82-million (CHF75 million) insider trading scheme using data stolen during hacks of US computer networks.

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Omicron forces WEF to postpone flagship event again

2021-12-22

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2021-12-22

The Covid-19 pandemic has severely disrupted plans to hold the World Economic Forum’s (WEF) main annual meeting in Davos for a second year in a row.

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The James Webb Space Telescope prepares to launch

2021-12-21

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The James Webb Space Telescope, the biggest, most powerful space telescope in history, is set to launch into space this Christmas. It has been developed by NASA together with the European Space Agency (ESA) and the Canadian Space Agency (CSA). Swiss scientists have been closely involved in the project and some Swiss technology is on board. The orbiting infrared observatory is the successor to the Hubble Space Telescope. With a much bigger primary...

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UBS bank appeals French tax evasion fine a second time

2021-12-21

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2021-12-21

Switzerland’s largest bank, UBS, says it will once again appeal a fine handed out by a French court for tax evasion offences.

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Credit Suisse hires former AMP chief to lead wealth management

2021-12-19

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2021-12-19

Credit Suisse has hired the former chief executive of Australian finance group AMP to run its revamped wealth management division, as the Swiss lender tries to win market share from its domestic rival UBS.

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Falcon bank fined for money laundering, ex-CEO acquitted

2021-12-18

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2021-12-18

A Swiss court has found the Zurich-based Falcon Private Bank guilty of money-laundering offences. The Federal Criminal CourtExternal link on Wednesday ordered the Abu Dhabi-owned bankExternal link to pay a fine of CHF3.5 million ($3.8 million) for failing to set up the necessary controls. It was the first time that a Swiss bank was taken to court over accusations of money laundering.

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Pension reform passes in parliament but set to be challenged to vote

2021-12-18

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2021-12-18

Parliament has approved a major reform of the Swiss pension system, including a controversial rise in the retirement age for women. The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well as an increase in value-added tax.

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Swiss National Bank maintains loose monetary policy

2021-12-17

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2021-12-17

The Swiss National Bank has decided to stick to its expansionary monetary policy, a day after the US Federal Reserve announced it was tightening monetary policies amid rising inflation.

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Expo 2020 Dubai: Swiss pavilion focuses on sustainability and innovation

2021-12-16

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2021-12-16

The Swiss pavilion at the ongoing Universal Exposition in Dubai leads the visitor through Alpine landscapes in a show of light and shadows to showcase Swiss sustainability, urbanisation and innovation. It is a concept that seems to appeal to the public, despite the pandemic and the many contradictions that characterise the Gulf region.

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Switzerland outlines 15 Alpine hydro projects for the future

2021-12-15

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2021-12-15

Authorities, environmental groups, and energy providers have named 15 major hydropower projects that could help Switzerland achieve energy security and a green transition over the coming decades. The projects were chosen for their energy efficiency potential as well as their minimal impact on biodiversity and the landscape, the groups wrote in a joint declaration on Monday. It was the third time that the “round-table” had met since August 2020.

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‘The definition of a tax haven is changing’

2021-12-14

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2021-12-14

A major global corporate tax deal agreed by more than 130 countries in October aims to curb tax abuse by multinational companies, but many important details remain on how this will be implemented.

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Balancing sports and studies in Switzerland: Alina Meier explains

2021-12-14

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Swiss Alina Meier is a 25-year-old cross-country skier, born and raised in canton Graubünden. The three-time Swiss champion decided to start studying in 2020, thanks to the move many universities made towards virtual learning. Even so, the dual career of a top-level athlete and student is particularly challenging for her because her sport has a seasonal focus. The coming semesters will be particularly intense for her, because in addition to her...

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UBS fails to overturn French tax evasion guilty verdict

2021-12-13

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2021-12-13

An appeal court in Paris has confirmed that Swiss bank UBS is guilty of having assisted French tax evaders - but reduced the penalty from €4.5 billion (CHF4.7 billion) to €1.8 billion.

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Arm wrestling over the control of money

2021-12-12

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2021-12-12

The Swiss National Bank (SNB) is doing its best to keep up with the fast-evolving world of cryptocurrencies and decentralised finance.

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