HSBC Private Bank (Switzerland) is accused of violating money laundering regulations. The Swiss Financial Market Supervisory Authority (Finma) has ordered measures to be taken. This content was published on June 18, 2024 – 17:20 The Swiss subsidiary of the British banking group failed to comply with its money laundering prevention obligations in respect of two...
Tag: business
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A peace summit for Ukraine opens in Switzerland, but Russia won’t be taking part
GENEVA — Switzerland will host scores of world leaders this weekend to try to map out first steps toward peace in Ukraine even though Russia, which launched and is continuing the war, won’t take part. Ukrainian President Volodymyr Zelenskyy’s government didn’t want Russia involved, and the Swiss — aware of Moscow’s reservations about the talks...
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Switzerland, in Partnership With the African Development Bank Group, Aims to Expand Opportunities for the Swiss Private Sector in Africa
The Swiss private sector would like to play a more substantial role in the African Development Bank’s operations in Africa. This desire was expressed during meeting between Bank senior management and the Swiss economic mission, spearheaded by Ivo Germann, Director of Foreign Economic Affairs at the State Secretariat for Economic Affairs (SECO). The Swiss delegation...
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Switzerland expects bumper summer for tourism
The Äscher-Wildkirchli guest house in Alpstein is a favourite tourist spot. Keystone / Gian Ehrenzeller Swiss hotels and holiday hotspots are looking forward to another record summer with Chinese guests in particular predicted to boost overnight stays by 0.4%, according to the KOF Swiss Economic Institute. This content was published on May 28, 2024 –...
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UBS Asia job cuts almost complete
UBS bought rival Swiss bank Credit Suisse last year. KEYSTONE/© KEYSTONE / JEAN-CHRISTOPHE BOTT UBS’s Asia-Pacific president signaled that most of the bank’s job cuts in the region are over as it nears the official completion of its historic merger with Credit Suisse. This content was published on May 28, 2024 – 09:51 Do you...
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‘Holidaymaker fees must benefit everyone’: Switzerland Tourism
Tourists flock to the picturesque Swiss village of Lauterbrunnen every year. KEYSTONE/© KEYSTONE / ANTHONY ANEX Charging entrance fees at popular Swiss holiday hotspots only makes sense if overseas guests also gain from the levy, says the Swiss tourism industry. This content was published on May 21, 2024 – 13:38 Do you want to read...
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Swiss retailer Migros starts restructuring with 150 job losses
Swiss supermarket chain Migros is embarking on a major restructuring programme KEYSTONE/© KEYSTONE / GAETAN BALLY The Swiss Migros supermarket chain has started its downsizing programme with the loss of 150 jobs. This is around 10% the total number of expected lay-offs. This content was published on May 21, 2024 – 11:57 Do you want...
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China’s BGG establishing new HQ in Switzerland to pursue double business growth in five years
The facility in Basel will operate as BGG World and be managed by newly appointed CEO Jürgen Nelis, supported by Global Commercial Director Thomas Adler, to spearhead the company’s international corporate strategy. The opening of this new headquarters represents a “significant leap forward” for the firm’s expansion efforts, as it seeks to build on more...
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Switzerland navigates own course through inflation maze
Various central banks must pick a different path through the maze of inflation. KEYSTONE Central banks around the world are keeping savers and homeowners guessing about interest rates. Switzerland broke ranks with a drop in rates in March, from 1.75% to 1.5%. But predicting the future direction of interest rates is made more difficult by...
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Swiss Army Knife set to release a new pocket tool — without a knife — citing ‘violence in the world’
The manufacturer of the iconic Swiss Army Knife said that’s releasing a new multi-tool that comes without a knife. The pocket tool-maker Victorinox’s CEO Carl Elsener said in an interview with Swiss media outlet Blick that the company is “concerned about the increasing regulation of knives due to violence in the world.” “We’re actually working...
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New Swiss Army Knife model to eliminate the knife – UPI.com
The maker of Swiss Army Knives is in the “early stages of developing pocket tools without blades” due to weapons regulations around the world. File Photo by Gabriel Monnet/EPA-EFE May 8 (UPI) — The maker of the Swiss Army Knife is taking the knife out of the century-old pocket tool’s latest model due to weapons...
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Sharp rise in foreign investments in Switzerland in 2023
While the number of foreign investment projects in Europe fell by 4%, in Switzerland it shot up by over 50%. Keystone / Christian Beutler While investments by foreign companies in Europe declined last year, significantly more was invested in Switzerland than in 2022. This content was published on May 2, 2024 – 11:39 The number...