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Done deal: UK and Switzerland make insurance agreement


The UK may be facing a race against time following the historic defeat of Prime Minister Theresa May’s proposed Brexit deal with the European Union, but today we bring good news from Davos. Global insurers in Britain and Switzerland now won’t have to worry about the two countries’ relationship come exit day, thanks to an insurance agreement signed by Chancellor ... Read More »

COSCO SHIPPING Ports Takes 60% Stake in Chancay Terminal Important Gateway


COSCO SHIPPING Ports Limited (”COSCO SHIPPING Ports” or “CSP” or “Company”, HKEX stock code:1199), a leading ports operator in the world, today announced that the Company will establish its first greenfield subsidiary in South America by acquiring 60% stake in Terminales Portuarios Chancay S.A. (Chancay Terminal) from Volcan Compañía Minera S.A.A., (“Volcan”) for a total consideration of US$225million, with an ... Read More »

Switzerland’s Veeam Software just scooped up half a billion dollars in funding


Data management company Veeam Software raised $500 million in venture funding on Wednesday and signalled plans to bulk up with acquisitions this year. The 12-year-old company, which is based in Switzerland, raised the money from Insight Venture Partners, with “strong participation from” the Canada Pension Plan Investment Board. Veeam did not disclose the company’s valuation in the latest round of ... Read More »

Swiss, Spanish firms clinch Sh16b sea desalination deal


Mombasa Governor Hassan Joho has unveiled two international companies that will carry out the Sh16 billion sea desalination project that is due to start works in June next year. Spanish company Almar Water Solutions and Switzerland’s Aqua Swiss will develop Kenya’s first large-scale desalination plants, which Mr Joho says will end perennial water shortages in Mombasa. The two firms will ... Read More »

Info soon of a/c holders in Swiss banks


India will start receiving from Switzerland this year information relating to financial accounts held by Indians in Swiss banks, government said on Wednesday. Minister of State for External Affairs VK Singh, replying to a question in the Lok Sabha, said such information may include details about persons allegedly involved in corruption. Switzerland has been long perceived as one of the ... Read More »

Bitcoin ATM Producer Moves to Switzerland Due to Regulatory Difficulties


Bitcoin (BTC) automated teller machine (ATM) manufacturer Lamassu has moved to Switzerland due to regulatory difficulties in other countries, according to a blog post published Jan. 1. Lamassu — now called Lamassu Industries AG — has moved to the Swiss canton of Lucerne, because the firm wants “to be in a place where rules are well defined and regulators are ... Read More »

Federer thrashes Norrie to give holder Switzerland lead at Hopman Cup


Swiss tennis great Roger Federer on Sunday routed Cameron Norrie of the United Kingdom 6-1, 6-1 to give his team the lead in their Hopman Cup Group B tie. Although Federer had to save three break points in the opening game of the first set, he proved to be more than the 23-year-old could handle as Norrie had to wait ... Read More »

Nestle Plans Vegan Push With No-Meat Burger, Purple Walnut Milk


Hold the ground chuck: Nestle SA sees the future in a meat-free burger made from soy and wheat protein. Soon you may be able to wash it down with purple walnut milk or a spirulina latte. The Swiss company is gearing up for its biggest push yet into the booming vegan market: the Incredible Burger, to be introduced under the ... Read More »

New tax obligations for offshore supplies of low value goods

australia tax

Sydney : Australia, as well as many other jurisdictions including New Zealand and Switzerland, are implementing new rules regarding the application of the goods and services tax (GST) or value added tax (VAT) to the supply of low value goods to consumers. Retailers and marketplaces that sell to consumers in these jurisdictions need to be aware of these changes and ... Read More »

Katowice meltdown: Switzerland calls India, Africa Group proposals ‘crappy’


As the climate talks reached a frenetic pace on Wednesday, tempers frayed. In a rather undiplomatic spat at a ministerial-level meeting, Switzerland told India and the Africa Group of Nations that their proposals on climate finance were “crappy”. The intemperate language from the country, part of the Environmental Integrity Group, got both India and the Africa Group of Nations responding ... Read More »

Swiss take their time on EU treaty despite Brussels deadline


Swiss : The Swiss government will seek public consultations on a draft treaty setting out ties with the European Union, it said, ignoring an ultimatum from Switzerland’s biggest trading partner to sign off by Friday or face punishment. The cabinet said in a statement ahead of a news conference it simply “took note” of the daft pact, giving no opinion ... Read More »

Swiss firms keen to invest in Pakistan

Swiss franc: A big challenge for businesses in Switzerland

ISLAMABAD: Swiss companies are exploring Pakistan for partnerships and investment, as they consider the country a potential market for business activities, a diplomat said on Tuesday. Bernhard Furger, deputy head of mission, Switzerland Embassy said he wanted to bring more Swiss companies to Pakistan so that they could see the real potential and explore business partnerships. “The Pakistan government’s initiatives ... Read More »

Aquarius migrant rescue ship denied Swiss flag

A handout photo released on September 24, 2018 by SOS Mediterranee shows migrants being rescued by the Aquarius rescue ship run by non-governmental organisations (NGO) "SOS Mediterranee" and "Medecins Sans Frontieres" (Doctors without Borders) following negociations with Libyan coast guards in the search and rescue zone off the coast of Libya, in the Mediterranean Sea, on September 23, 2018. - SOS Mediterranee and Doctors without Borders (MSF) which operate the Aquarius rescue missions lambasted Italy for pressuring Panama into revoking its flag, warning the move deals a "major blow" to humanitarian missions off Europe's southern coasts. (Photo by Maud VEITH / SOS MEDITERRANEE / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / SOS MEDITERRANEE / Maud VEITH" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

Switzerland’s government on Monday rejected a parliamentary proposal that would have seen the MV Aquarius 2 migrant rescue ship sail under the Swiss flag. The vessel is idled in the French port of Marseille until further notice while its operators – the NGOs SOS Méditerranée and Doctors Without Borders (MSF) – desperately try and clarify its flag notice so that ... Read More »

Mick McCarthy recalls unfinished business with Switzerland


Switzerland : Mick McCarthy appeared to be joking in the post-European Championship draw mixed zone about getting revenge on the Swiss for that 2-1 home defeat they inflicted on him 16 years ago in his last game in charge of Ireland first time around. Then somebody followed up with: “Joking aside, though . . .” and he cut back in ... Read More »

Pakistan, Switzerland agree to exchange financial information

Pakistan, Switzerland

ISLAMABAD: In a major step towards bringing back the looted wealth, Pakistan and Swiss governments have signed a memorandum of understanding which would enable them to exchange financial information on a bilateral basis. The accord will help local authorities seek Swiss bank account details of Pakistanis. The MoU was signed by Special Assistant to Prime Minister on Accountability Shahzad Akbar ... Read More »

Egypt Recovers 26 Ancient Artifacts From Switzerland


Egypt’s Ambassador in Switzerland Hisham Seif Eddin received word from Swiss authorities that 26 small artifacts dating back to ancient Egypt will be handed back. The Ministry of Foreign Affairs said in a press release on Wednesday that the antiquities included a statue of the god Anubis, an Ushabti statue, a number of smaller Ushabti statues and some Pharaonic amulets. ... Read More »

Why Switzerland is worried about UK trade after Brexit


Bern : Ever since the UK voted to leave the European Union in 2016, Switzerland has been carefully watching Brexit proceedings. The deal (or perhaps no deal) struck between the UK and the EU will be significant to non-EU member Switzerland. And it cannot come quickly enough for the Swiss. “The clock is ticking,” sighs Jan Atteslander of the Swiss ... Read More »

Questions raised as Swiss company proposes offshore port facility

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The Port of Corpus Christi is a major player when it comes to the oil industry. It’s the largest exporter of crude oil in the nation and the 4th largest port in the U.S. In 2015, the ban on U.S. produced crude oil was overturned, creating a demand for American barrels of oil. With oil exports expected to surge over ... Read More »

Ramaphosa: Africa Investment Forum will help close deals worth $28bn

Deputy President Cyril Ramaphosa led the 2017 Grade 12 signing of the pledge ceremony at Albert Moroka Secondary School in Thaba Nchu, Free State Province. 13/10/2017 Kopano Tlape GCIS

The Africa Investment Forum (AIF) is a platform to move infrastructure projects to bankable stages for SA, according to President Cyril Ramaphosa. “To be an investment destination of choice, we need to resolve the problems that keep investors away from our continent, by addressing governance challenges, such as policy uncertainty, inconsistency, financial mismanagement and corruption,” Ramaphosa said at the inaugural ... Read More »

Italy makes cross-border bust of nearly 600 pounds of heroin

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ROME : European authorities say they have seized 270 kilograms (595 pounds) of heroin in Genoa’s port and allowed part of it to travel on, under police surveillance, to its final destination in the Netherlands where two people were arrested. Eurojust, the European agency that coordinates cross-border investigations, called the drug bust the largest in Genoa in 20 years. Police ... Read More »