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Crypto foundations continue to thrive in Switzerland

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Yet more overseas blockchain firms are coming to Switzerland to set up foundations. British company Atlas City will establish a non-profit entity for its Catalyst project. But what’s in it for commercial enterprises that develop cutting-edge technologies? The Swiss foundation model looked to be faltering with disputes at Tezos and Cardano last year. But 18 crypto foundations were set up ... Read More »

Smart Ports Market Worth $5.3 Billion by 2024

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CHICAGO, According to the new market research report “Smart Ports Market by Technology (IoT, Blockchain, Process Automation, Artificial Intelligence (AI)), Elements (Terminal Automation, PCS, Smart Port Infrastructure, and Others), Throughput Capacity, Port Type, and Region – Global Forecast to 2024”, published by MarketsandMarkets™, the Global Smart Ports Market is projected to reach USD 5.3 billion by 2024 from an estimated ... Read More »

India to get Swiss bank details of all Indians from September

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India’s fight against suspected black money stashed abroad will get a major boost this September in the form of first set of detailed financial information about all Indians having Swiss bank accounts, including those closed since last year. The details that Switzerland would share with Indian tax authorities under the Automatic Exchange of Information (AEOI) framework would include account numbers, ... Read More »

Expats rate Switzerland as their top destination

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Geneva — Switzerland has knocked Singapore off its perch as the world’s top-ranked destination for expatriates. The nation, home to some of the biggest private banks, commodity traders and pharmaceuticals companies, was judged the best place to live and work, according to a study published on Thursday by HSBC Holdings. Switzerland jumped from number eight in 2018 as it garnered ... Read More »

Cross-border shoppers declare goods via Swiss customs app

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Some 90,000 people have downloaded a mobile phone app to speed them through customs when they declare goods at the Swiss border. Swiss customs said on Tuesday the innovation had netted them CHF1.1 million ($1.1 million) in duties since it was launched a year ago. The Federal Customs Administrationexternal link has declared the QuickZoll app a success, registering more than ... Read More »

European traders banned from trading Swiss blue chips as EU talks break down

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European traders are banned from trading stock in hundreds of Swiss companies from Monday following a breakdown of treaty talks between Switzerland and the European Union. Swiss regulators have imposed a ban on EU exchanges trading Swiss equities after the European Commission allowed the ‘equivalence’ status granted to the Swiss stock exchange to lapse. The move followed a lengthy standoff ... Read More »

Business co-op with Switzerland expands

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The development of economic cooperation is a priority in the bilateral relations between Switzerland and Azerbaijan. Azerbaijani-Swiss business forum, organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the Embassy of Azerbaijan in Switzerland, was held in Zurich, Switzerland, on June 27. Representatives of companies working in the fields of energy, agriculture, construction, tourism, ICT, food industry, along with ... Read More »

Indian Money in Swiss Banks Falls by 6% in 2018, Hits Second-lowest Level in Two Decades

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Zurich/New Delhi: Money parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by nearly 6 per cent in 2018 to 955 million Swiss francs (about Rs 6,757 crore) to hit its second-lowest level in over two decades, Swiss National Bank data showed on Thursday. Aggregate funds of all foreign clients of Swiss banks also fell ... Read More »

Switzerland to return millions in laundered funds to Uzbekistan

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The Office of the Attorney General said on Monday it would return CHF130 million ($133 million) after securing a conviction in its six-year investigation into allegations of money laundering involving the eldest daughter of the former Uzbek president, Islam Karimov. A relative of Gulnara Karimova has been convicted by a Swiss federal court for taking part in a scheme to ... Read More »

Tax Reform Package For Swiss Companies Is Approved

Swiss Finance Department to draw new proposals for corporate tax reform

Historically, Swiss companies have enjoyed a zero tax regime for capital gains and dividend income. Trading companies, however, have always attracted a local canton (region) tax rate. The new tax changes focus on trading profits. New Corporate Tax Rate – Geneva As from January 2020, the corporate tax rate (combined federal and cantonal tax) for all companies in Geneva, will ... Read More »

How do we keep companies honest on human rights?

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Our analysis of what the biggest global companies in Switzerland are up to. There was a time in the not-too-distant past when a CEO of a major multinational wouldn’t be caught dead saying the words “human rights”. Times have changed. Just this week, more than 30 CEOs signed a call to actionexternal link on human rights, and big companies from ... Read More »

Switzerland eyes great potential for developing trade with Russia

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MOSCOW, : Swiss companies consider Russia and the Eurasian Economic Union as an important market with a high growth potential, Head of Switzerland’s Department of Foreign Affairs Ignazio Cassis said in an interview with TASS published on Wednesday. According to him, last year Russia was ranked 25th among Switzerland’s trade partners, with trade volume reaching $2.8 bln, a 14% increase ... Read More »

Bourse sanctions loom as EU-Swiss talks stall

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BRUSSELS (Reuters) – Swiss bourses face losing direct access to EU investors from July 1, as the European Commission reported on Tuesday that talks with Bern over a new partnership treaty had failed to progress. The loss of access granted under a so-called “equivalence” regime would have broad financial repercussions for Switzerland, and for the 28-country European Union itself. But ... Read More »

Relocation: as hard As it is to curb a Piano in Switzerland to view

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the voice of The woman on the phone changed within a second. She sighs, she moans. “Then,” she says, and makes a pregnant Pause, “it’s complicated.” the woman on The phone is to perform no Operation, no rocket launch. You should carry an item for me. The measures 154 x 141 x 70 inches – so it’s pretty big, weighs ... Read More »

Stunning CB customs unveiled at Wheels and Waves

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The machines have come from all over Europe to Biarritz as part of France’s leading custom motorbike show. Inspiration for the machines has come from far and wide, including endurance racing, the Paris-Dakar and even the humble monkey bike. These are just a few that caught our eye. Our personal favourite was the madcap Africa Twin-styled CB1000R. The ultimate dune-blaster ... Read More »

Switzerland, Kenya take their ties to new heights

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Kenya Airways will launch direct flights from Nairobi to Geneva and I will be on that inaugural flight. And although I have flown between Kenya and Switzerland many times over the four years that I have served as the ambassador of Switzerland to Kenya, this will be a uniquely satisfying trip for me. This is because for the first time ... Read More »

The Market for Fuel Cards in Switzerland 2018-2022

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The “Fuel Cards in Switzerland 2018: Market and competitor data and insights into the commercial fuel card sector” report has been added to ResearchAndMarkets.com’s offering. Fuel Cards in Switzerland 2018 is invaluable for issuers of fleet cards, fuel retailers, fleet leasing companies and other suppliers to the sector. Based on research with issuers and fuel retailers it provides commercial (B2B) ... Read More »

From Tinder-based scams to Terrorism, Switzerland cracks down on launderers

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Switzerland has stepped up cooperation with other countries, including India, in cracking down on suspected illicit wealth parked in its banks A terrorist from a South Asian countryIn its latest annual report, the Money Laundering Reporting Office Switzerland (MROS) has disclosed several interesting cases where it collaborated with overseas authorities to uncover cases of money laundering and terror financing. Under ... Read More »

‘Switzerland needs national cryptocurrency’: think tank

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One of Switzerland’s most prominent business think tanks is calling on the central bank to start issuing its own cryptocurrency. Avenir Suisse believes this is an essential step along the path to creating a new blockchain economic model. Compared with peers in other countriesexternal link, the Swiss National Bankexternal link (SNB) has so far shown a distinct reluctance to contemplate ... Read More »

What does the public think about corporate responsibility?

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What is the public’s opinion when it comes to the responsibility of Swiss companies abroad? ETH researchers have investigated this question and are able to show that there is a great deal of support for the so-called Responsible Business Initiative. In just over two weeks, the National Council and the Council of States will jointly discuss the Responsible Business Initiative. ... Read More »