Tag Archive: Business

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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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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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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Why Switzerland props up its ailing sugar industry

2021-12-11

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2021-12-11

Every year from October to December more than 1.5 million tonnes of sugar beets grown in Switzerland are harvested to supply the country’s sugar industry – an industry being kept alive by massive government subsidies. SWI swissinfo.ch reports from Aarberg, home to the country’s largest sugar factory.  

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Swiss tourists stayed close to home in 2020

2021-12-10

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2021-12-10

New data on Swiss travel habits during the first year of the Covid-19 pandemic show fewer overnight stays, less air travel and a collapse in trips beyond the borders of Europe.

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Supply chain bottlenecks and Omicron hamper Swiss economic recovery

2021-12-09

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2021-12-09

Swiss economic experts expect a significant economic slowdown as supply chain bottlenecks, inflation and pandemic restrictions persist in many parts of the world.

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Swiss commodity traders control 2.7 million hectares of land worldwide

2021-12-04

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2021-12-04

Research by investigative non-profit Public Eye has revealed that trading companies with a Swiss presence – or their subsidiaries – own over 550 plantations covering over 2.7 million hectares.

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Swiss banks implicated in trading cartel investigation

2021-12-03

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2021-12-03

The European Commission has ended an investigation of five banks, including UBS and Credit Suisse, who colluded in a foreign exchange spot trading cartel.

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Stable income but higher taxes for Swiss households

2021-11-27

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2021-11-27

The average private household in Switzerland spent about 31% of its income on taxes, social security and health insurance premiums in 2019.

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Geldcast Update: Lessons from interest rate problems

2021-11-25

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2021-11-25

The Australian central bank is being attacked by the markets and is losing control over interest rates. Something similar happened to the Swiss National Bank in 2015 with the minimum exchange rate for the euro. But what is behind this?

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Moving up in the world: could you work from home in the Alps?

2021-11-23

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2021-11-23

During the pandemic, some skiers have been doing just that. But does the romantic vision tally with the reality? It was in May, while hiking along the forest trails and waterfalls of La Tièche, with views towards the snow-dusted peaks of the Matterhorn and Mont Blanc, that fitness coach Jessica Z Christensen decided to spend more time in the Swiss mountains.

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How the pandemic has widened inequalities in Swiss watchmaking

2021-11-21

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2021-11-21

Driven by strong Chinese demand, Swiss watchmaking is recovering after suffering one of its biggest economic shocks in 2020. But the crisis has further widened the gap between the few brands that take the lion’s share of the profits and the rest of the industry.

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Call to tap potential of professional working women

2021-11-17

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2021-11-17

Women make up half of the highly skilled workforce in Switzerland, but work fewer hours, according to a study published on Tuesday. One in three would like to work more, under certain conditions.

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Google admits defeat in disputed Swiss cloud tender

2021-11-13

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2021-11-13

The Swiss federal authorities can proceed with awarding a cloud computing contract to five US and Chinese companies, including Amazon, Microsoft and Alibaba, after Google dropped an appeal against the decision to leave it out of the project.

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Geneva-Lausanne train link remains suspended

2021-11-12

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2021-11-12

The holes were caused by tunneling work under the tracks carried out by a private company, which was working on a thermal energy project using water from Lake Geneva to heat an industrial zone not far from the train line. Keystone / Jean-christophe Bott The main rail link between Geneva and Lausanne in southwestern Switzerland will not re-open until Friday morning, Swiss Federal Railways (SBB/CFF) has confirmed. The line has been suspended since...

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Swiss expats thrown limited banking lifeline by digital disruptor

2021-11-10

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2021-11-10

Digital bank Yapeal is offering basic accounts to Swiss people living in neighbouring countries that undercut the rising fees of mainstream competitors. 

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Geldcast Update: Monetary policy and the climate crisis

2021-11-05

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2021-11-05

For years, central banks have been called upon to do more to combat climate change. Now a new monetary policy instrument is being discussed as a way forward.

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Credit Suisse to shrink investment bank

2021-11-04

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2021-11-04

The Credit Suisse Group says it will shrink its investment bank and shift more resources to the wealth management unit.

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Controversial crypto exchange hopes for warm Swiss welcome

2021-11-02

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2021-11-02

Two months after paying a $100 million fine in the US for illegal trading operations, cryptocurrency exchange BitMEX is lining up a test for Switzerland’s financial regulator.

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Swiss companies face severe supply chain bottlenecks

2021-10-25

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2021-10-25

Four out of five firms surveyed by the Swiss Business Federation (economiesuisse) have complained of problems in getting hold of raw materials and essential parts for their goods.

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