Tag Archives: 3.) Swissinfo Business and Economy

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...

UBS had appealed against both the original verdict and the size of the fine. Keystone / Peter Klaunzer 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. The long-awaited verdict was due on Monday, but the Paris court postponed its decision because a judge is ill. UBS was fined €3.7 billion and ordered to pay €800 million in damages during the original trial in...

Parmelin struck a personal note in his speech at the UN in New York and mentioned his professional background as a wine-grower. 2021 Getty Images Guy Parmelin, who holds the rotating Swiss presidency this year, has called for solidarity to tackle global environmental and trade issues. Addressing the United Nations general assembly in New York, Parmelin said the Covid pandemic had entrenched protectionist policies and laid open the vulnerability of global production...

Poster advertising of tobacco products and e-cigarettes that can be seen from public places – for example, here in Zurich – will be banned. © Keystone / Gaetan Bally 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. The long-running debate was heated until the end, with the political left trying in vain to push through a more restrictive...

The decision by the House of Representatives is considered a political upset. Earlier this year, the house refused to restrict the powers of the government. © Keystone/Christian Beutler Campaigners seeking a ban on Swiss arms exports have withdrawn their initiative that aimed to stop weapons exports to countries in conflict. The broad allianceExternal link of political parties and non-governmental groups behind the proposal says it is pleased that parliament has...

The decision by the House of Representatives is considered a political upset. Earlier this year, the house refused to restrict the powers of the government. © Keystone/Christian Beutler Campaigners seeking a ban on Swiss arms exports have withdrawn their initiative that aimed to stop weapons exports to countries in conflict. The broad allianceExternal link of political parties and non-governmental groups behind the proposal says it is pleased that parliament has...