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Round tables held on Trade Policy & World Trade Organization topics in Baku (PHOTO)

three roundtable discussions dedicated to international trade-related issues were held at the premises of Ekvita Consulting in Baku, Azerbaijan. Representatives of different ministries and agencies of the Republic of Azerbaijan, including the Ministry of Economy, Ministry of Foreign Affairs, Ministry of Taxes, Ministry of Finance, Ministry of Transport, Communications and High Technologies, Central Bank, State Customs Committee, Financial Markets Supervisory ... Read More »

Wework rival IWG sells Swiss business for £94m

Wework rival IWG has made its latest international divestment with the sale of its Swiss business in a deal worth £94m. IWG has sold its 38 flexible co-working locations in Switzerland to a joint entity owned by private banking group J. Safra Group and real estate investor P. Peress Group. The office space giant has also entered into a master ... Read More »

Greens make strong election gains, but don’t expect much change

Green parties have won the legislative elections in Switzerland, but we don’t expect major changes in government policies. Swiss growth is negatively impacted by the global slowdown and uncertainties Sunday’s parliamentary elections in Switzerland gave Green parties a big breakthrough, as we’ve seen in other European countries, and they’re considered the winners. First, the Green Party (left), obtained 17 additional ... Read More »

93% of the value of Spanish fruit and vegetable exports came from the EU

According to data from the Department of Customs and Special Taxes, during the first seven months of 2019, the turnover generated by Spanish fresh fruit and vegetable exports stood at 8,673 million Euro, 8,035 of which corresponded to the EU market. This is 93% of the total and 4% more than in the same period of 2018. Exports outside the ... Read More »

Vanguard makes Switzerland push with new head

Vanguard has named Andreas Zingg as managing officer for Vanguard Investments Switzerland GmbH. Zingg has been with Vanguard since 2016. Prior to assuming his current role, he was head of ETF Distribution Europe from August 2016 to September 2019. Before Vanguard he was head of iShares Middle East & Africa and head of iShares Sales for the German-speaking parts of ... Read More »

India’s Swiss black money probe reaches ‘software’ firm in Andheri bylane

BERNE : India’s fight against suspected black money stashed in Swiss banks has reached a village lane in Andheri area of Mumbai, where an obscure-sounding company, Motech Software Pvt Ltd, was set up nearly two decades ago that allegedly went on to deposit millions of dollars in Switzerland through a maze of offshore entities. Indian tax authorities have sought the ... Read More »

Why Venezuelan Money Is No Longer Welcome In Switzerland

Swiss banks have joined the US sanctions against Venezuela, meaning the South American country’s diplomatic missions in Bern and Geneva are running out of funds to do their work and pay their staff. “We’re in a situation of financial impotence,” complains César Méndez, the Venezuelan ambassador in Bern. The embassy’s bank accounts at Credit Suisse were suddenly closed, he says. ... Read More »

Brexit deal to take 20 YEARS? How Switzerland example exposes dithering EU

THE EU and Switzerland took 17 years to hammer out a one-off bilateral trade deal, which was reportedly nowhere near as complex as the one Boris Johnson is trying to negotiate. Does this example prove it might take almost two decades before a proper withdrawal agreement is confirmed by both Britain and the bloc? Boris Johnson became Prime Minister in ... Read More »

President Kovind embarks on visit to Slovenia from Switzerland

President Kovind embarks on visit to Slovenia from Switzerland Switzerland, Sep 16 (ANI): President Ram Nath Kovind left for Slovenia on September 15. President Kovind, accompanied by his wife Savita Kovind, had wide range of discussions with his Swiss counterpart Ueli Maurer. Air India One flight carrying President Ramnath Kovind detected ‘Rudder Fault’ at Zurich (Switzerland) airport on Sep 15. ... Read More »

Facebook’s Libra seeks payment system licence from Swiss FINMA

ZURICH : The Facebook-led (FB.O) Libra cryptocurrency project is seeking a payment system licence under Swiss financial watchdog FINMA, it said on Wednesday, spelling out in more detail how it hopes to be regulated. “Switzerland offers a pathway for responsible financial services innovation harmonised with global financial norms and strong oversight,” the Libra Association said in a statement. “We are ... Read More »

Swiss Combi buys stake in SBB Cargo

SWITZERLAND: Swiss Combi AG, a joint venture formed of four road transport and logistics companies in the private sector, has bought a 35% stake in SBB Cargo AG for an undisclosed sum, although SBB AG retains a 65% majority holding. Swiss Combi consists of Planzer Holding AG (40%), Camion Transport AG (40%), Galliker Holding (10%) and Bertschi AG (10%). The ... Read More »

Switzerland pessimistic on swift EU treaty

Switzerland is unlikely to strike a deal with the European Union this year over a stalled partnership treaty, its economy minister said, extending an impasse that has hurt bilateral ties and disrupted cross-border share trading. European Commission President Jean-Claude Juncker has urged Bern to wrap up the accord before his term ends on Oct. 31, when German politician Ursula von ... Read More »

World’s 1st crypto banks get licenses in Switzerland

ZURICH: The Swiss financial regulator has granted capital market and securities dealer licenses to two blockchain companies, set to become the world’s first crypto banks. The Swiss Financial Market Supervisory Authority (FINMA) has issued licenses to Zug-based SEBA Crypto AG and Zurich-headquartered Sygnum AG earlier this week, making them the first companies registered in Switzerland as broker-dealers with a blockchain ... Read More »

Credit Suisse to shift focus from branches to digital banking

ZURICH: Credit Suisse said on Monday (Aug 26) it would invest hundreds of millions of francs in digital services and other parts of its Swiss division by the end of 2021 and said it no longer needed a bigger branch network in its home market than its rivals. Banks across Europe have been closing branches and cutting tens of thousands ... Read More »

Swiss telco Sunrise fights to save $6.4 billion Liberty deal

ZURICH : Swiss telecoms firm Sunrise Communications on Thursday stepped up efforts to rescue its takeover of Liberty Global’s Swiss unit amid criticism from its top shareholder, saying it had found new synergies and could cut a planned rights issue to fund the deal. However, Sunrise shares fell more than 6% as analysts picked out some weaknesses in its second-quarter ... Read More »

Firms named and shamed over ‘absurd’ freight

A Swiss environmental group has named and shamed companies for the “absurd transport” of goods, including one firm that flew cans of alpine air almost 20,000km for sale in Asia. The Alpine Initiative wants to fight environmental pollution and make consumers more aware of the environmental cost of freight transportation. It is encouraging members of the public to vote for ... Read More »

United Cannabis Corporation Establishes Distribution Relationship with Cloud 9 Switzerland

DENVER,: United Cannabis Corporation (has announced that it has begun selling its patented Prana Hemp products as well as hemp-derived extracts in Italy, and shortly will be selling these products in Switzerland, through a partnership with Cloud 9 Switzerland. Cloud 9 Switzerland is a based in Lugano Switzerland, with active affiliates in Italy, Switzerland, France and Jamaica. Cloud 9 Switzerland ... Read More »

Swiss companies keep watchful eye on Hong Kong protests

Democracy protests in Hong Kong have disrupted flights, closed shops and have placed the global spotlight on the Chinese territory. Swiss companies are monitoring the situation, wary that the chaos could impact their bottom line. While Hong Kong’s economy has stagnated in recent months, the recent turmoil’s impact so far appears mostly sartorial. Sally Yan, a Switzerland-based Chinese executive travelled ... Read More »

Swiss Companies Have Invested USD 1.6 Bn In Africa’s Gateway Market

Courtesy of the General Authority For Investments and free zones (GAFI), we’ve learned that 462 companies from Switzerland are operating in Egypt. All of these account for a total USD 1.6 Bn investments in the North African country. Per an exclusive document revealing this, a more substantial portion of the Swiss companies in Egypt is working in the services sector, ... Read More »

SEBA plans textile roadshow to Switzerland: Executive Director

The Swiss-Egyptian Business Association (SEBA) is planning a textile roadshow to Switzerland to promote the textile sector in Egypt (garments and machinery) and to know the requirements of the Swiss market, SEBA‘s Executive Director, Marwa Taher, said. “We believe that the Egyptian economy holds great potential for more investments and business expansion. In fact, Egypt is currently looked at as ... Read More »