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Tag Archives: Latest News

Government hopes for ‘first successful pension reforms’ of the century

Interior Minister Alain Berset at the press conference on Wednesday Keystone In summer 2019 the social partners agreed on a reform of the Swiss occupational pension scheme. The government on Wednesday adopted this compromise unchanged; the ball is now in parliament’s court. Occupational pensions have been under pressure for a while as a result of rising life expectancy and low interest rates. Following the rejection by voters of the pension reform in September 2017,...

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Nuclear plant worker’s cancer judged not to be a work-related illness

The man worked as an expert inspector at Mühleberg nuclear power plant in 2010 Keystone The Federal Court has dismissed the appeal of a former employee of two Swiss nuclear power plants who was diagnosed with bladder and prostate cancer. The man took legal action after the national accident insurance fund refused benefits for an occupational illness. The now 52-year-old man worked at the Leibstadt nuclear power plant in 2003 and 2004. In 2010 he worked as an expert...

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Ex-Credit Suisse boss recruited by Rwandan government

Thiam radically reshaped Credit Suisse Keystone Tidjane Thiam, who resigned as CEO of Swiss bank Credit Suisse in February, has been tasked with using his connections to build up the Rwandan capital Kigali as an international business location, according to Swiss business newspaper Handelszeitung. Ivory Coast-born Thiam, who also holds French citizenship, has been named president of Rwanda Finance Limited, a government company that is to set up the Kigali...

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Will vaccination campaign convince hesitant Swiss?

Just 16% of Swiss would immediately get vaccinated against coronavirus, according to a recent survey Keystone Faced with considerable public scepticism towards a Covid-19 vaccine, the Federal Office of Public Health is preparing an information campaign about vaccinations. However, the country’s top hospital hygienist thinks offering incentives is a better way to make people get a jab. Just 16% of Swiss would immediately get vaccinated against coronavirus, according...

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Raiffeisen pulls out of Swiss Bankers Association

The Swiss Bankers Association said it regretted Raiffeisen’s decision Keystone Raiffeisen, Switzerland’s third-largest banking group, says it will leave the Swiss Bankers Association (SBA) at the end of March 2021. It intends to represent its interests independently. “The banking sector and the interests of the various players in the Swiss financial centre have changed considerably in recent years,” Raiffeisen said in a statement on Tuesday. “As part of its group...

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Swiss investors still leaning heavily on fossil fuels

Despite concerns about global warning, coal is still being mined and burned all over the world. Keystone / Sascha Steinbach The Swiss financial market invests too much in oil and coal production, according to a review of nearly 200 financial institutions. Some 80% of the banks and asset management firms surveyed by the report have coal mining companies in their investment portfolios. “On average, the Swiss financial centre thus supports additional expansion of...

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Shareholders call for new priorities for manager salaries

Checking the stock markets in Zurich’s Bahnhofstrasse Keystone Shareholders in Switzerland want a rethink on how managers are paid and demand that priorities regarding corporate governance, sustainability and corporate social responsibility (CSR) be redefined, a survey has found. “Investors consider compensation systems not to be sufficiently aligned with social and environmental priorities and judge adjustments to bonus payments due to Covid-19 highly...

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Zurich prosecutor charges former Raiffeisen bank chief Vincenz

The former Raiffeisen CEO has been dogged by suspicions of conflict of interest during his tenure as Raiffeisen boss, during which he personally invested in subsidiaries of the banking group. Keystone / Gian Ehrenzeller The Zurich public prosecutor has accused the ex-CEO of Swiss bank Raiffeisen Pierin Vincenz of fraud, embezzlement and bribery following a two-year criminal investigation. In a statement released on Tuesday, the district attorney general said that it...

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Zug and Geneva boost attractiveness with corporate tax cuts

The home to the European headquarters of the United Nations jumped ten spots up the ranking thanks to its fiscal attractiveness. Keystone / Salvatore Di Nolfi Canton Geneva has made the biggest jump in the annual Credit Suisse ranking of attractive business locations, moving up ten spots to sit just behind Zurich. According to the Credit Suisse location quality survey published on Tuesday, canton Zug, home to big multinationals like Glencore, took back its top spot...

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Swiss return frozen CHF36 million to South American football federation

Former CONMEBOL presidents Juan Angel Napout (left) and Nicolas Leoz in December 2014. Napout was arrested in 2015 in a pre-dawn raid at a Swiss luxury hotel as part of the US Department of Justice’s widening bribery case into FIFA. In May 2014, Leoz was indicted along with 14 other football officials by the US Department of State on charges of bribery, racketeering and money laundering. Swiss criminal proceedings against Leoz were abandoned after his death in August...

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