We continue to work together with the Swiss towards an ambitious trade deal. Talks continue to be constructive and positive, with both countries focused on achieving a modern and comprehensive agreement with ambitious outcomes, including in areas such as services and investment, mobility, digital and the environment, which are not covered by our existing FTA....
Category: Bussiness
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Why the Swiss central bank made a surprise cut to its key interest
The Swiss National Bank (SNB) said on Thursday it is trimming its key interest rate, a surprise move that makes Switzerland the first major financial centre to announce a cut in recent months. ADVERTISEMENT Thomas Jordan, the outgoing SNB chairman, credited the central bank’s push to rein in inflation in the wealthy Alpine country. The...
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Switzerland, UAE, China lead double digit imports growth in February
1 min read Last Updated : Mar 21 2024 | 12:09 AM IST A jump in imports from Switzerland, the United Arab Emirates (UAE) and China led to a double-digit increase in India’s imports in February, propelling them to a 17-month high. After growth in merchandise imports remained in negative territory for most of 2023,...
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Numerous Swiss companies keen on investing in India: Helene Budliger
A number of companies from Switzerland including chocolate maker Barry Callebaut Group, and technology group Buhler are interested in investing in India, Swiss State Secretary for Economic Affairs Helene Budliger has said. Budliger said HESS Green Mobility intends to manufacture around 3,000 electric buses in India by 2025, equating to an investment of USD 110...
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Britain’s Vodafone sells Italian arm to Swisscom for $8.7 billion
Britain’s Vodafone Group has announced the sale of its Italian operations to Swisscom, the Switzerland-based telecom operator, for €8 billion ($8.7 billion). This sale, confirmed on Friday, is part of Vodafone‘s broader plan to streamline its portfolio and focus on markets where it can ensure profitable growth. Following the sale, Vodafone plans to return half...
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Parliamentary approval process for TEPA to be initiated immediately: Swiss govt
A mega trade deal between New Delhi and the four-nation European bloc EFTA will not only open up broad market access for Swiss businesses in India but is set to improve the legal framework and predictability for them, the Swiss government said on Sunday. The European Free Trade Association (EFTA) States — Iceland, Liechtenstein, Norway...
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India-EFTA deal: Swiss watches, chocolates to enter India at lower prices
4 min read Last Updated : Mar 10 2024 | 4:52 PM IST Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of...
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16 years in the making, key details of India’s pact with four-nation European trade bloc
India signed a free trade pact on Sunday with a group of European nations – Switzerland, Norway, Iceland and Liechtenstein – committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years. India and the members of the European Free Trade Association (EFTA) held 21 rounds of talks over...
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EFTA Deal: India to link duty cuts with investments from companies of member nations
India is set to tie duty reductions associated with the trade agreement with the European Free Trade Association (EFTA) to investments made by companies from member nations, including Switzerland, Norway, Iceland, and Liechtenstein, reported TOI. These nations have collectively pledged to invest $100 billion over a span of 15 years. The FTA is scheduled to...
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85 Swiss branches of UBS and Credit Suisse to shut, report says
ZURICH, – UBS will close 85 branches in Switzerland of its combined operations with Credit Suisse by 2025 as part of its consolidation of its erstwhile rival, Swiss media reported on Friday. The Aargauer Zeitung said the closures would be where UBS and Credit Suisse branches stood in “immediate proximity”, and that a pilot phase...
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85 Swiss branches of UBS and Credit Suisse to shut
UBS will close 85 branches in Switzerland of its combined operations with Credit Suisse by 2025 as part of its consolidation of its former rival, Swiss media reported today. The Aargauer Zeitung said the closures would be where UBS and Credit Suisse branches stood in “immediate proximity”, and that a pilot phase for the process...
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UAE delegation in Switzerland to boost bilateral trade relations
RIYADH: A high-level UAE delegation to Switzerland, led by the minister of state for foreign trade, is set to boost growing business relations between the two countries. The UAE and Switzerland saw non-oil trade reaching $22.3 billion in 2023, a record increase of 41.2 percent compared to 2022, due to growth in imports, exports, and...