World banking grew in Q3, except emerging markets

BASEL, SWITZERLAND – The Bank for International Settlements (BIS) said Wednesday that global banking activity expanded by $493 billion in the third quarter of 2014, for an annual growth rate of about 5 percent at end-September 2014, up from 1% at end-June 2014. The BIS noted that “The increase in cross-border bank lending was concentrated […]

China, Switzerland sign MOU on renminbi

renminbi

Swiss Bankers Association happy with the new deal BERN, SWITZERLAND – Switzerland and China Wednesday 21 January signed an agreement that will make Switzerland a hub for renminbi trading. The country joins a handful of others accepted by China as trading centres for its currency. The Swiss Bankers Association promptly issued a statement supporting the […]

Lausanne schools to skip meat, fish

One day a week off, for school cafeterias LAUSANNE, SWITZERLAND – Daycare centre and school cafeterias in Lausanne will have one meat- and fish-free day at week, following a vote by the city council. The motion to have a vegetarian day was presented by the Green Party and other politically Left parties, who also proposed […]

Swiss National Bank (Chappatte cartoon)

Swiss National Bank Chappatte_200115

©2015 Chappatte, distributed by Globe Cartoon. More cartoons on Chappatte’s web site. Geneva-based Patrick Chappatte works for the International New York Times, for Geneva newspaper Le Temps, and for NZZ am Sonntag. All cartoons reproduced with permission.

Julius Bär nemesis Elmer given suspended sentence fine

Will be allow to work as a banker but must cover court costs ZURICH, SWITZERLAND – Rudolf Elmer, who has famously been in court several times to face off with his ex-employer bank Julius Bär, saw what could be his final case end with a suspended sentence and the jduge’s decision that he must bear […]

Tax rules for expats in Switzerland tightened

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New rules go into effect in 2016 BERN, SWITZERLAND – Deductions for expatriates working in Switzerland will be tightened starting in 2016, the Federal Department of Finance announced Monday 19 January. The definition of “expatriate” for tax purposes has also been reviewed and narrowed. Housing, moving (removal) expenses, and dependents’ education costs are all affected […]

The Yard by Alex Grecian

The Yard 001

GENEVA, SWITZERLAND / BOOK MY PLACE – it falls to Inspector Day, with the aid of Hammersmith and the gifted precursor of forensic science, Doctor Kingsley, who has understood the rudiments of fingerprinting, to solve the first foul murder of a detective and the subsequent one before they themselves become the victims. [More] …

Oxfam call to Davos: rewrite tax rules

Winnie Byanyima, executive director of Oxfam International

Head of Oxfam will co-preside Davos forum Group’s study shows in 2016 richest 1% to have more than rest of world GENEVA, SWITZERLAND – The head of British charity Oxfam, who will be co-president of the 2015 Davos World Economic Forum from 21-26 January, called Monday for the WEF to focus on rewriting the world’s […]

Snagged by its growth spurt: Gland

GENEVA, SWITZERLAND – Le Temps today carries a profile of the town of Gland, which has grown “spectacularly” in the past 20 years. It now numbers 13,000 residents, 5,500 employees and 900 multinationals and small businesses. The town, according to Le Temps, is facing political problems as it adjusts to a new role as a […]

Swiss franc shakeout will take time – Jordan

Thomas Jordan, SNB

ZURICH, SWITZERLAND – The head of the Swiss National Bank, Thomas Jordan, appeared in the country’s two serious media over the weekend, “Le Temps” et la “Neue Zürcher Zeitung”, insisting that the Swiss franc is overvalued, but that it will take time for markets to get its exchange rates down to more realistic levels. He was […]