The Panama Papers are back in the news after the public portion of a trial involving more than two dozen associates accused of helping some of the world’s richest people hide their wealth came to an unexpectedly speedy conclusion on Friday. The trial came eight years after 11 million leaked secret financial documents...
Category: Bussiness
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Anti-Semitism ‘played no role’ in Raiffeisen Switzerland bank business
A suggestion was made to rename Raiffeisenplatz, where the bank’s headquarters are located. Keystone/Gaetan Bally The Raiffeisen banking group has no history of prejudicial business behaviour against Jews in Switzerland despite the anti-Semitic views of its German founder, according to a report that was commissioned by the company. This content was published on April 19,...
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Switzerland’s Peace Summit: Putin Calls Talks a Farce – Defence News
Russian President Vladimir Putin has called the peace conference to be held in Switzerland regarding the Ukraine war as a ‘Panopticon’ and even a circus. Furious over the peace summit, Putin has refuted the claim in which Switzerland had said that ‘Russia has been invited’ for the peace summit. What is Panopticon? According to reports...
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Novartis to cut 680 jobs in product development
Novartis is to cut up to 680 jobs in its development organisation, which helps bring its drugs to market, the Swiss pharmaceuticals company said on Tuesday. Around 440 jobs will go in Switzerland and up to 240 in the United States over the next two to three years, the Basel-based company said. The job eliminations...
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After Credit Suisse collapse Switzerland is now revamping its financial rulebook
Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars of bank...
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Switzerland Seeks Bilateral Investment Treaty With India | India Business News – Times of India
New Delhi: After the India-European Free Trade Association (EFTA) trade deal that witnessed $100 billion investment commitment, Switzerland is now pushing for a new bilateral investment treaty (BIT) with India and a “red carpet” for investors from the four-nation bloc to meet the target.The issue of the investment treaty, a sore point with most countries,...
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Swiss dairy boss faces criminal charges in Listeria case
The owner of a dairy company in Switzerland is facing criminal charges about a fatal Listeria outbreak. The public prosecutor’s office in Schwyz announced this week that it had completed the criminal investigation that had opened in August 2020 against the owner of a cheese factory. Käserei Vogel was closed by the business owner in...
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UBS finalises transfer of Credit Suisse securitisation business to Apollo – SWI swissinfo.ch
Under the new deal, announced on Wednesday, Apollo Global Management will purchase from UBS $8 billion of “senior secured financing facilities” as part of the Swiss bank’s efforts to wind down its non-core legacy portfolio KEYSTONE/© KEYSTONE / ENNIO LEANZA UBS Group and Apollo Global Management have reached an agreement regarding the carveout of Credit Suisse’s...
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UNRWA head calls on Switzerland to resume financial support
UNRWA head Lazzarini met with Swiss politicians. KEYSTONE/© KEYSTONE / SALVATORE DI NOLFI The director of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), Philippe Lazzarini, has called on Switzerland and the European Union to resume their support for the organisation. This content was published on March 26, 2024...
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Swiss financial watchdog fines Bank Audi for money-laundering violations – SWI swissinfo.ch
FINMA determined that the bank failed to provide information and did not adequately vet high-risk client relationships. KEYSTONE/© KEYSTONE / PETER KLAUNZER The Swiss Financial Market Supervisory Authority (FINMA) has identified serious violations of money-laundering regulations at the private bank, Bank Audi. This content was published on March 25, 2024 – 13:34 FINMA is fining...
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Charting the Global Economy: Switzerland Surprises With Rate Cut – BNN Bloomberg
(Bloomberg) — The Swiss National Bank surprised with the first interest-rate cut among its global peers, central bankers in Japan ended the most aggressive monetary stimulus in modern history and the Federal Reserve held the line on US borrowing costs. As Fed policymakers stuck to their path of lowering rates this year, the Bank of...
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Switzerland becomes first major economy to cut interest rates in surprise move
The Swiss national flag hangs from the Federal Palace, Switzerland’s parliament building, in Bern, Switzerland, on Thursday, Dec. 13, 2018. The Swiss National Bank cut its inflation forecast and showed no inclination of moving off its crisis-era settings, citing the francs strength and mounting global risks. Photographer: Stefan Wermuth/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty...