Latest Switzerland News
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UPDATE 2-Switzerland buries U.S. tax law banks seen at risk
Wed Jun 19, 2013 12:19pm EDT * Lower house sinks the bill by again refusing to debate * Swiss government fears U.S. indictment of banks * Banking lobby urges government to help banks reach deals * Opinion divided over threat to banks By Ruben Sprich BERNE, June 19 (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from ...
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Swiss Re Publishes ‘Corporate Responsibility’ Report‘Sustainable’Insurance Goals
Swiss Re announced the publication of its "2012 Corporate Responsibility Report," which it said "enhances its accountability by reporting against the Principles for Sustainable Insurance for the first time." The sustainable principles were developed in cooperation with the United Nations Environment Program (UNEP) and other partners, with Swiss Re playing "an active ...
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Swiss tourism market expected to record stable growth in international arrivals
The Swiss tourism market was adversely impacted by the global financial crisis, which caused a decline in tourism activity and expenditure in 2009. Although Eurozone economies weakened, Switzerland is expected to record stable growth in international arrivals over the coming years. The strengthening of the Swiss franc is one of the key reasons for the growth in outbound travel. Tourists are ...
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Montreux Jazz archives gain UNESCO status
A vast collection of live concert footage and audio spanning the entire 46-year history of the Montreux Jazz Festival - featuring the likes of Ella Fitzgerald, Aretha Franklin and Prince - has been given UNESCO heritage status. The "Claude Nobs Legacy", named after the former founder and director of the festival who passed away in January, comprises 5,000 hours of TV and audio ...
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Swiss lower house committee rejects U.S. tax deal again
BERNE (Reuters) - A Swiss parliamentary committee has again urged the lower house to reject a draft law aimed at protecting the country's banks from criminal charges in the United States for helping wealthy Americans to evade ...
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Parliament re-instates medical practice limits
Parliament has green-lighted renewed limits on the number of healthcare specialists who may operate in the country. For three years starting July 1 new medical practice licenses will be restricted in some regions and costs reigned in. The only exception to the law are doctors who sought continuing education in Switzerland during a period of at least three years, a clause which was hotly debated ...
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Ukraine Georgia discuss pace of Geneva talks on security stability in Transcaucasia
KIEV, June 19 (Itar-Tass) - Ukrainian Foreign Minister, OSCE Chairman in Office Leonid Kozhara visited Georgia to discuss the pace of the Geneva talks on security and stability in Transcaucasia, Foreign Ministry deputy spokesman Vasil Zvarych told journalists on ...
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Swiss business lobby heads quit after pay vote debacle
ZURICH (Reuters) - The two heads of the main Swiss business lobby Economiesuisse announced on Wednesday they were both stepping down after the organisation came under heavy fire over its failed campaign to oppose strict controls on executive pay. Economiesuisse said in a statement that Rudolf Wehrli, who only took over as president in October, would step down at the end of August as he did not ...
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Former Lake Zurich trustee appointed to open position
Newly appointed Lake Zurich Trustee Jonathan Sprawka said keeping the village headed in the right direction with its downtown redevelopment efforts will be his top priority.Sprawka, 32, who served in the same role from 2009 until earlier this year, was appointed to the seat that was vacated when Trustee Tom Poynton was elected mayor in April. Board members unanimously approved the choice at ...
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LCP moves further into Swiss market
Pensions and investment consultants Lane Clark & Peacock has expanded its Swiss operations with the launch of LCP Asalis. The new investment consulting practice will provide bespoke, practical investment advice to Swiss pension funds and their sponsors, and will support clients at every stage of the investment process from strategy through to implementation and monitoring. LCP ...
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Swiss economy still suffering
The prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW). The Credit Suisse ZEW indicator of economic expectations crawled up by a mere 0.6 points to the -57.1 mark, and 65.3 per cent of financial market experts forecast further deterioration ...
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Recession looms for Swiss economy
The Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse. Switzerland’s real economy finally felt the full force of the financial crisis in late 2008. Previous to this, the country had held up considerably better than that of other industrialised nations, but economists fear that Switzerland’s gross domestic product (GDP) could decline by 0.6 ...
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Swiss economy will neither boom nor bust
The Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current economic climate has had a negative impact on perception, it has had little reflection in the economic data. Economists say that the Swiss economy, despite seeing economic growth below its potential, will ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
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Aberdeen opens in Zurich
Aberdeen Asset Managers (Aberdeen) has opened new offices in Zurich, allowing enhanced levels of business in Switzerland, where the group has already been present for ten years. Aberdeen employs over 1,800 staff world-wide in 20 countries, and has investment centres in three time zones through London, Philadelphia and Singapore. At 31 March 2008, total group assets under management and ...
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Swiss Stocks Advance Before Fed Comments on Stimulus
Swiss stocks rose before Federal Reserve policy makers wrap up a meeting today that may shed light on future monetary policy in the world's largest economy. SGS SA, the world's largest product-inspection company, ...
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Privacy officials raise concerns over Glass
The Swiss data protection commissioner and government privacy officials from a handful of other countries have written to Google to raise privacy concerns about its wearable computing eyewear, Glass. Hanspeter Thr signed the letter sent to Larry Page, Google's chief executive officer, along with commissioners from Canada, the Netherlands, Australia, New Zealand, Mexico and Israel."We ...
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COMMENT Poor prospects for Swiss bonds as rates rise - UBS
By Jon Penner Wed Jun 19, 2013 6:36am EDT LONDON, June 19 (IFR) - Top-rated Swiss-franc denominated long-term bonds could suffer the most severe losses if interest rates rise, according to a note from UBS Wealth Management this week, which recommended that investors instead seek exposure to higher yielding paper and covered bonds. The report, entitled Long-Term Sells, explores the consequences ...
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Chinas Swiss watch imports decrease in Q1
/enpproperty--> China's import of Swiss high-end watches may decrease over the next few quarters, Tina Zhou, dean of the Fortune Character Institute predicted in the China Watch Report. China imported 77,771 watches from Switzerland in 2012, down from 87,894 units in 2011, according to the report released Tuesday. However, as the average price increased, the import value in 2012 was ...
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ʻThings are happening behind the scenesʼ
One hundred days after his election, Pope Francis I is enjoying a positive image and heightened popularity. Although he hasn't been in his seat long, observers estimate that signs are showing the "pope of the poor" will become an important decision-maker. By addressing the faithful in a colloquial manner and by asking them to pray for him, the new pope knew from the moment of his ...
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Swiss Re applies principles for sustainable insurance
In the 2012 Corporate Responsibility Report, Swiss Re enhances its accountability by reporting against the Principles for Sustainable Insurance for the first time. Together with the United Nations Environment Programme (UNEP) and other partners, Swiss Re played an active role in developing the principles, which are part of an initiative to advance sustainable business practices across the ...
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Will the Switzerland of the Middle East revive ever again
After the war, Lebanon experienced a period of economic prosperity. Revenues from tourism in that period increased ten-fold. Lebanon is often called the "Switzerland of the Middle East." However, after the outbreak of the Civil War (1975-1983) the country faced difficult ...
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The swiss franc closed lower on Tuesday
The EURO closed higher on Tuesday and the highrange close sets the stage for a steady o higher opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 75% retracement level of the February April decline crossing is the next upside ...
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G8 Leaders Urge Syrian Government Opposition to Engage Seriously at Geneva Conference
Beijing, June 19 (BNA) - The G8 leaders on Tuesday urged both the Syrian government and opposition forces to engage "seriously and constructively" at the proposed Geneva conference. "Both sides at the conference must engage seriously and constructively," they said in a final communique, issued after the annual G8 summit in Lough Erne, Northern Ireland. "They should ...
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Syria peace talks delayed after Putin unyielding
Syrian peace talks will be delayed after Russian President Vladimir Putin vowed to boycott talks that assume President Bashar Assad will resign, officials said. The international peace conference in Geneva, Switzerland, proposed by Washington and Moscow six weeks ago to be held as soon as May is now likely to be delayed until September, a Western official told several news organizations after ...
Switzerland Featured
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Switzerland world's most competitive country
Switzerland is frequently pointed to as a model of good governance, prosperity, innovation and stability and is one of the happiest countries in the world. The recent competitive survey by the WEF underscored this, but came with a warning.
Switzerland truly is an impressive country, landlocked and small with no natural resources; it has developed into one of the richest countries in the world and was recently named the most competitive economy in the world. This is due in large part to its banking sector, which is one of the most advanced and its government structure, which is efficient in comparison to many other developed countries. Read more
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