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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 »

China, Switzerland to ink MoU on closer finance, trade ties

Switzerland is expected to sign a memorandum of understanding with China focusing on finance and trade cooperation in third markets under the Belt and Road Initiative, Swiss President Ueli Maurer said in Shanghai. Maurer, leading a top-level finance and business delegation, will attend the second Belt and Road Forum for International Cooperation in Beijing, which opens. “The MoU will strengthen ... Read More »

Swisscom launches 5G network in 102 locations in Switzerland

5G coverage is now available in 102 locations in 54 towns, including Basel, Bern, Chur, Davos, Geneva, Lausanne and Zurich. The company has pledged to roll out nationwide coverage by the end of this year. “The Swisscom 5G network will be ready for everyone across Switzerland by the end of the year,” said Urs Schaeppi, CEO Swisscom’s CEO, in a ... Read More »

ExecuJet Prepares Swiss FBO for July Closing of Linate

The three-month closing of Italy’s Milan Linate Airport (LIN) beginning in July has ExecuJet preparing to handle a record number of aircraft movements in southern Switzerland, the unit of Luxaviation Group announced today. ExecutJet’s co-branded FBO at Lugano Airport (LUG) is expected to take traffic diverted from LIN. “Our FBO at Lugano Airport is ideally located for travelers who might ... Read More »

Swiss government to overhaul customs service

Switzerland is revamping its national custom services to make it fit for the digital era. The differentiation between border guard and custom specialists will disappear under a new organisational structure. The government outlined its reform plan on Wednesday for the Federal Customs Administrationexternal link (FCA), which will become the Federal Customs and Border Security Office, saying it wants to “seize ... Read More »

Switzerland – Between a rock and a hard place

As the eurozone economy slows down after six years of uninterrupted growth, Switzerland is an anxious spectator. Amid increased concerns among the EU27 over the potential impact of a disorderly Brexit and the halt to quantitative easing from the European Central Bank’s asset-purchasing programme, Europe’s big three are bracing themselves while Switzerland sits in the middle, watching intently. To the ... Read More »

Switzerland plans to tighten capital rules for its biggest banks

Switzerland is proposing bigger capital cushions for the country’s top banks that could force UBS Group and Credit Suisse Group to set aside an additional 24 billion Swiss francs ($24 billion) in reserves. The Finance Ministry is weighing an amendment to capital adequacy rules to try to ensure that the parent companies of systemically important banks are sufficiently well capitalized ... Read More »

Life as an EU satellite: Swiss hold lessons for UK

Britons may think about how the Swiss, Norwegians or even Turks have fared: They understand headaches and well the benefits of being near — but not a part of — the political and economic bloc. Norway, switzerland and Turkey are one of many countries that are not members of their 28-country EU however are economically to varying levels — a ... Read More »

Swiss National Bank can make monetary policy even looser

BERN: The Swiss National Bank (SNB) can further relax already ultra-loose monetary policy and take its interest rates deeper into negative territory, enlarged governing board member Martin Schlegel said on Monday. The central bank charges a rate of -0.75 percent on cash it holds for commercial banks over a certain limit, one of its tools to combat the rise of ... Read More »

IMF predicts Swiss growth to slow to 1.1% in 2019

The Swiss economy is likely to slow in 2019, with gross domestic product growth expected to hit 1.1%, followed by a “moderate” recovery in 2020, the International Monetary Fund said on Monday. The IMF said in a concluding statement, published on Monday following a mission to Switzerland and an annual evaluationexternal link, that a “sustained regional slowdown, intensification of global ... Read More »

UnionBank partners with Swiss bank to serve PH’s superrich

Switzerland-based Lombard Odier and Aboitiz-led Union Bank of the Philippines have teamed up to launch a new private banking platform that seeks to dip into a small but growing pool of affluent Filipinos with discerning investment requirements. The newly launched Union Bank Private Banking service targets wealthy families and individuals, defined as those with net worth of over P100 million. ... Read More »

Supply chain radar: Expeditors’ core customs business is the next battlefield for supply chain consolidators

The takeover of Switzerland’s Panalpina – still apparently destined to tie the knot either with Kuwait’s Agility or Denmark’s DSV, and set to add firepower to either partner’s freight forwarding activities – is uniquely attractive size-wise, and great M&A stuff for the headlines. However, more strategic M&A action, on a smaller scale, is taking place elsewhere, where the interests of ... Read More »

Swiss companies make contingency plans amid Brexit uncertainty

As the Brexit saga continues, Swiss companies are preparing for the worst and hoping for the best. But optimism is waning among companies that are trying to minimise disruptions from any deal/no-deal scenarios. With the UK’s departure from the EU scheduled for March 29, British Prime Minister Theresa May on Wednesday asked the EU bloc to postpone the UK’s departure ... Read More »