Tag Archives: 3.) Swissinfo Business and Economy

V for Vaccine? One of many masked guests at Fantasy Basel on Saturday Keystone / Peter Klaunzer 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. Fantasy BaselExternal link, also known as the Swiss Comic Con, is one of the biggest events of its kind in Switzerland. Fans of pop culture are drawn to the exhibition halls in Basel, where many visitors dress up in flashy costumes...

An attractive target: a Swiss server. © Keystone / Christian Beutler Ransomware attacks by hackers continue to increase sharply, with some 2,700 Swiss firms falling victim over the past year, Beobachter magazine has reported. The figure for the period August 2020 to August 2021 was arrived at by American cybersecurity firm Recorded Future, Beobachter wrote on Wednesday. Measured against the 4,800 attacks over the past five years as a whole, this means a big uptick,...

Paradeplatz in Zurich, the Swiss financial heartland © Keystone / Gaetan Bally Switzerland is still number one in terms of wealth management internationally, despite the growth in new assets slowing in 2020, according to consulting firm Deloitte. The company found that overall, “the leading centres of international wealth management did surprisingly well during the Covid-19 pandemic”. Switzerland managed some $2.6 trillion (CHF2.4 trillion) in international assets in...

Getting impatient: it’s been a difficult few years for the show. Keystone / Salvatore Di Nolfi 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. The decision comes just a week after organisers had in fact given the all-clear for the 2022 edition to take place from February 19-27 next, following Covid-induced cancellations in 2020 and 2021. On...

Paper or digital? Changing times for the media in Switzerland... Keystone / Alessandro Della Valle - Click to enlarge A cross-party group has handed in signatures opposing a support package for the media passed by parliament in June. The “no to state media” group handed in some 113,000 signatures on Wednesday, more than double the amount needed to force a referendum under the Swiss direct democracy system. The opponents say the law is unconstitutional and a waste of...

The weather was favourable for Swiss farmers last year Keystone / Sigi Tischler Covid, the weather and the pig market were kind to farmers in 2020, with income increasing 6.7% compared with 2019. But this year is looking much bleaker. The average income last year was CHF79,200 ($85,500) per farm, CHF5,000 more than the year before, Agroscope, the Swiss federal body for agriculture research, said on TuesdayExternal link. Given that there are an average of 1.35 family...

Credit Suisse says police raids were not targeted at the bank itself. Keystone-sda-ats Ag Switzerland 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. The police searches were conducted at the request of Zürich’s cantonal public prosecutor earlier this week. The prosecutor has opened a criminal investigation into Greensill’s activities and the way in which Credit...

Tax havens link up with a network of financial advisors and banks in numerous countries to funnel assets around the world. Copyright 2019 The Associated Press. All Rights Reserved. A new set of leaked documents, dubbed the Pandora Papers, has again exposed the role of Swiss lawyers, accountants and consultants in managing the wealth of powerful clients. The International Consortium of Investigative Journalists (ICIJ) has revealed the contents of 11.9 million tax...

The Swiss Pavilion has a mirrored front and a 700-square-metre red carpet to welcome visitors Keystone / Sebstien Crettaz After eight years of planning and billions of dollars in spending, the Middle East’s first World Fair has opened in Dubai. Switzerland is participating at Expo 2020 with its own pavilion. This offers visitors “a memorable experience and showcases our country in all its diversity: from the beauty of the Swiss Alps to Switzerland’s role as a leading...

The US still suspects some elements of the Swiss financial centre of helping tax evaders. © Keystone / Ti-press / Alessandro Crinari Six people and a Swiss financial services firm have been charged in the United States with helping clients evade taxes on $60 million (CHF56 million) of assets. They are accused of setting up an elaborate scheme, known as the “Singapore Solution”, to funnel money out of Switzerland, through structures in Hong Kong and Singapore, and...