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Switzerland will remain a low-tax centre for big firms


Switzerland is known for its delicious chocolate, its luxury watches—and its lightly taxed multinationals. Some 24,000 international companies are domiciled there to benefit from low-tax deals offered by its 26 cantons, which set their own rates on top of the federal corporate income-tax rate of around 8%. Zug, a canton near Zurich, alone is home to some 1,800 of them, ... Read More »

Facebook has set up fintech in Switzerland : and it’s the latest indication of its ambition to use cryptos


Facebook has formed a new fintech company, dubbed Libra Networks, in Switzerland, according to Geneva’s commercial register cited by Reuters. The company, which registered in Geneva on May 2, will provide fintech services and develop related hardware and software, reports the outlet. Libra’s areas of focus will include blockchain, payments, data analytics, and investing. Here’s what it means: Libra is ... Read More »

Switzerland deepens customs cooperation with US


The Swiss customs office has agreed to forge closer links with counterparts in the United States as both countries flirt with the idea of reigniting free trade agreement (FTA) talks. The Federal Department of Financeexternal link has signed a “legally non-binding” memorandum of understanding with the US Department of Homeland Securityexternal link to allow customs officials to deepen contacts and ... Read More »

Switzerland votes ‘yes’ to overhaul corporate tax rules


Switzerland has approved an overhaul of the corporate tax code, choosing to stay an attractive base for companies such as Procter & Gamble, Vitol and Caterpillar even at the expense of a short-term drop in fiscal revenue. The change was approved by 66pc of voters, according to a projection published by Swiss television SRF. A poll by gfs.bern had suggested ... Read More »

Switzerland on collision course with EU over gun control


“There’s this peace and inner calm that you need when shooting,” Michele Meyenberger says as the sound of gun fire echoes through the clubhouse. A magazine of ammunition for her Sturmgewehr 90, a modified semi-automatic rifle issued by the Swiss army, sits on the table as Meyenberger eyes the clock, knowing that it’s almost her turn on the shooting range. ... Read More »

Indians flock to Switzerland’s Engelberg-Titlis multi-activity mountain trail


It’s home to the world’s first revolving cable car, a glacier cave, a Cliff Walk over Europe’s highest suspension bridge, a multi-seater open-to-the-sky Ice Flyer chair lift and a glacier park – to name just a few of its attractions. Thus, it’s little wonder that over two lakh Indians contribute to the annual 1.2 India million footfalls at the Mount ... Read More »

Switzerland’s iconic cliffhanging restaurant has reopened


If you like an outdoors hiking challenge or enjoy a dramatic location, you’ll be pleased to learn that the Äscher mountain restaurant in Switzerland has reopened for business. The Äscher is located in what looks like a most precarious position, clinging to the foot of a vertical cliff face above the village of Wasserauen, in the canton of Appenzell Innerrhoden. ... Read More »

Abuse revealed in more than a third of Swiss companies


Suspected cases of embezzlement, tax fraud, money laundering and sexual harassment have been reported in 35% of companies in Switzerland, according to an international whistleblowing study. Researchers polled nearly 1,400 companies with more than 20 employees in Switzerland, neighbouring Germany and France as well as in Britain. The survey found most suspected cases in companies headquartered in Germany (43%), ahead ... Read More »

Coca-Cola heir arrested in Caribbean with $1.3M in cannabis, 5,000 plants aboard private jet


A Greek billionaire and heir to the Coca-Cola fortune was arrested on the Caribbean Island of St. Kitts after a search of his private jet uncovered more than $1.3 million worth of cannabis on board, according to multiple reports. Alkiviades “Alki” David, 50, was arrested by the Anti-Narcotics Unit at the Robert L. Bradshaw International Airport after customs officials found ... Read More »

Switzerland falls in foreign investment ranking


Despite earning a slightly better score than last year, Switzerland has dropped four places as a destination for foreign direct investment in a survey that looks at countries likely to attract the most FDI in the next three years. The 2019 AT Kearney Foreign Direct Investment Confidence Indexexternal link puts the country in 13th place compared to 9th last year. ... Read More »

Trade facilitation reforms spur development, experts say

Trade Facilitation

Effective implementation of reforms to trade facilitation in developing countries can catalyse progress towards meeting development goals, attendees at an UNCTAD expert meeting heard on 7 May. The seventh session of the UNCTAD expert meeting on transport, trade logistics and trade facilitation is taking place from 7 to 9 May at the UN’s European headquarters in Geneva, Switzerland. The meeting ... Read More »

Switzerland strongly benefits from the EU single market


this was the result of a on Wednesday published a study by the Bertelsmann Foundation, two weeks before the European elections. The largest economy in the world increases, therefore, the income of the EU citizens, per head and year, average of about 840 Euro. Switzerland is with 2914 Euro income plus at the top of the leaderboard. Luxembourg (2834 euros), ... Read More »

DPM Heng leads team on study trip to Switzerland


Deputy Prime Minister Heng Swee Keat is in Switzerland on a study trip until Friday. He will also be speaking at the 49th St Gallen Symposium on preparing citizens for future challenges, as well as Asia’s growth and its implications. In a statement yesterday, the Finance Ministry said Mr Heng, who is also the Finance Minister, will be leading a ... Read More »

The International Cannabis Business Conference (ICBC) is Coming to Zurich


The International Cannabis Business Conference (ICBC) is excited to bring its trademark blend of business, politics and culture to Zurich, Switzerland, in a team-up with the CannaTrade hemp fair. The first ICBC Zurich will be held at the beautiful Atlantis Hotel. The ICBC is traveling to Zurich after its third consecutive year in Berlin, Germany, the first and biggest business-to-business ... Read More »

Seizures of illegally imported medicines triple in Switzerland


The Federal Customs Administration seized 3,203 shipments of illegally imported medicines in 2018 – triple the amount of the previous year. These were followed by sleeping, diet and hair growth pills, the statement added. Like in 2017, the majority of illegal shipments were from India (42%), followed by Eastern Europe (32%) and Asia (mainly Singapore, 17.5%). The huge increase in ... Read More »

Watches of Switzerland celebrates 100 years in business with Rolex


To celebrate, Brian Duffy, CEO of The Watches of Switzerland Group and Richard de Leyser, managing director of Rolex, hosted an event night at the BALTIC Centre for Contemporary Art to commemorate and thank its “loyal” north east clients and businesses. As part of its centenary year, The Watches of Switzerland Group have partnered with Rolex to provide 100 watches ... Read More »

Maersk becomes first container shipping company to offer digital Ocean Customs Clearance


Every port in every country puts cargo through many different rules, regulations and laws that complicate a trader’s life. Aiming to provide simple and easy-to-use solutions, Maersk has launched Customs Clearance online shipping management platform in seven European countries – Germany, France, Denmark, The Netherlands, Poland, United Kingdom and Spain – with the goal of expanding this offering across the ... Read More »

Excel in the global economy with Fribourg International Business Law


Driven by technological advancement, international trade and investments, globalisation has profoundly affected economic life and continues to do just that. To keep up with the changes and produce practical solutions to global financial issues, graduates today are upskilling their knowledge with Master’s Programmes in International Business Law (IBL) at the University of Fribourg in Switzerland. Ranked among the top 250 ... Read More »

Switzerland to join BRI, boost business ties


Switzerland and China will sign a Memorandum of Understanding (MOU) on cooperation with third markets under the Belt and Road Initiative (BRI) on Monday, Swiss President Ueli Maurer said in Beijing. The move is expected to inject new momentum into bilateral relations, Maurer said. Maurer will be in China through April 30, accompanied by a finance and business delegation. President ... Read More »

Europeans embrace Belt and Road Initiative as mutual benefits grow


When Hungary signed a cooperation document with China on the Belt and Road Initiative (BRI) in 2015, it was the first European country to do so. Almost four years later and ahead of the ongoing Second Belt and Road Forum for International Cooperation in Beijing, 22 European countries had inked BRI cooperation documents with China. Heads of state or government ... Read More »