Tag Archive: Business

Switzerland ‘not at risk of truck driver shortage’

Unlike other Western European nations, Switzerland is not at risk of a supply chain crisis due to a lack of truck drivers, according to the president of a major logistics and transport company.

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Qatar’s Quintet bank closes shop in Switzerland

Quintet Private Bank says it is closing its Swiss arm just 16 months after opening. The Qatari-owned private bank took over Bank am Bellevue last year.

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Anticipating future technologies for humanity’s well-being

A Geneva-based foundation has created a tool mapping out major scientific breakthroughs that could help decision makers and civil society prepare for their impact.

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Global capital flows: how poor countries finance the rich

It’s an economist’s conundrum: global capital, instead of flowing from rich countries to poor countries, actually moves in the other direction. Each year hundreds of billions of dollars leave developing countries and land in the coffers of rich countries like Switzerland.

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‘Fantasy Basel’ re-opens after a two-year Covid break

The three-day Fantasy Basel festival for fans of films, games, comics, cosplay and manga has re-opened its doors after a two-year break.

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The Inflation Tide is Turning!

In our post on January 28, 2021 “Gold, The Tried-and-True Inflation Hedge for What’s Coming!” we outlined four reasons that we expect higher inflation over the next several years.

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2022 Geneva Motor Show cancelled

For the third year running, the Geneva International Motor Show will not take place in 2022 due to ongoing health concerns as well as supply shortages in the automotive sector.

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Opponents challenge media aid law to referendum

A cross-party group has handed in signatures opposing a support package for the media passed by parliament in June.

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Credit Suisse offices raided over Greensill funds

Swiss police have raided the offices of Credit Suisse and seized documents relating to the collapse of its $10bn fund range linked to Greensill Capital.

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UBS tax evasion appeal verdict delayed in Paris

Swiss bank UBS will have to wait until December 13 to see if its appeal against a French €4.5 billion (CHF4.9 billion) tax evasion penalty is successful.

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Parliament rejects blanket ban on tobacco ads

The Swiss parliament has agreed new advertising and sponsorship regulations for tobacco products. However, the supporters of a total ban on tobacco advertising are unimpressed.

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Property sole inflationary concern for Swiss central bank

The risk of a housing bubble has increased in the last three months, but the Swiss National Bank (SNB) is unconcerned about a general inflationary threat.

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Swiss DLT stock exchange wins long-awaited license to operate

A new Swiss stock exchange has been awarded a license to trade digital assets using distributed ledger technology (DLT).

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Can China help African cocoa producers outmanoeuvre Big Chocolate?

In a bid to grab a bigger slice of the chocolate pie, cocoa-producing countries Ivory Coast and Ghana are turning to China for funding and a new marketplace. The move could pose a threat to the Swiss chocolate industry’s profit margins and its supply of raw materials. 

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Risk of housing bubble in Switzerland persists

A report by the leading Swiss bank UBS has found an increased risk of a real estate bubble forming in Switzerland’s housing market. The UBS Swiss real estate bubble index has risen from 1.78 to 1.90 points, in the second quarter of 2021, remaining in the ‘risk zone’, according to a report published on Tuesday.

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Credit Suisse to face ‘tuna bonds’ trial

The bank will face a trial over its role in Mozambique’s $2 billion (CHF1.8 billion) “tuna bonds” scandal, a fresh blow as it struggles to shake off a succession of crises that have plagued the group in recent years.

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Why some wealth managers hate wealth

“How can we [ . . .] fight increased inequality?” railed Ralph Hamers in a recent interview. To be clear, Hamers is not the boss of Unicef, or Oxfam or the Social Mobility Foundation. He is chief executive of Swiss bank UBS, one of the biggest beneficiaries of the widening wealth gap.

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Credit Suisse reaches deal with former employee in spying case

The Swiss bank and its former top manager Iqbal Khan have agreed to end all pending criminal proceedings in a 2019 spying affair that toppled the company’s top brass. Speaking to the Reuters news agency, a spokesperson for Credit Suisse confirmed a report in the newspaper NZZ am Sonntag that, following an agreement between “all parties”, the matter was now closed.

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Tourism sector will take decades to recover from pandemic

The president of the national marketing body Switzerland Tourism says the year 2021 is on course to be even worse than 2020, with 5% fewer hotel stays expected. "This is not good news, because 2020 was the worst year in history" for the sector, Martin Nydegger told the newspaper SonntagsZeitung.

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Quantitative Easing: A Boon or Curse?

Central banks’ massive Quantitative Easing (QE) programs have come under scrutiny many times since the central banks fired up the printing press and began quantitative easing programs en masse after the 2008-09 Great Financial Crisis. However, the increase in central bank assets due to quantitative easing programs during the crisis pale in comparison to the QE programs during the Covid pandemic. As economies recovered after the...

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