Peugeot-Citroen sales down sharply

GENEVA, SWITZERLAND – PSA, Peugeot-Citroen joint venture, said Wednesday 9 January that its sales dropped sharply in 2012, down 16.5 percent to 2.97 million vehicles. Weaker sales in its southern European markets, notably Spain, coupled with lower sales in France and the cessation of its activities in Iran, are to blame, France’s largest car manufacturer […]

Investors not leaving Swiss banks, says SBA head

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GENEVA, SWITZERLAND – Foreign money under management at Swiss banks is not leaving the country in the wake of fiscal agreement negotiations between Switzerland and other countries, notably Germany, as some media have suggested in recent weeks, says Claude-Alain Margelisch, chief executive officer of the Swiss Bank Association. Margelisch was speaking Wedensday 21 November in […]

Asia stocks up: hint economic recovery

GENEVA, SWITZERLAND – Asian stock markets were moderately higher 7 August after an unexpected improvement in US hiring was seen by the market as the first hint of a global economy emerging from its downturn. In addition, speculation that the European Central Bank will support struggling countries like Spain and Italy intensified, helping investment sentiment. […]

The rich are getting richer, and a few of them are in Switzerland

Wealth managers not getting rich as fast as their clients The 12.5 million “millionaire households” represent 39 percent of all household wealth GENEVA, SWITZERLAND – Some people bounced back rather well from the global economic downturn, show figures published 31 May in a  new study by the Boston Consulting Group. Assets under management rose by […]

Swiss abroad grow to 10% of the total population

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Asia fastest growing area for them, but Europe remains home to most BERN, SWITZERLAND – Swiss living abroad now make up more than 10 percent of the Swiss population, growing to 703,640 in 2011, with 62 percent of them living in Europe and 97 percent of those living in European Union countries. France has the […]

Asian groceries: a small store but a large choice

Whether you’re cooking curry or spring rolls, shushis or pad thai, the Mekong Market grocery store in Ferney Voltaire carries all the dry and canned food you will need to prepare authentic asian meals. Along with all kinds of rices, in small or large bags (up to 20 kg), noodles and spices, you’ll find  various […]

The rich, the poor and their shifting weight: Global Wealth Report 2011

ZURICH, SWITZERLAND – I haven’t stopped looking at international comparisons for cost of living and wealthy individuals, but I have stopped paying attention to them if they’re dollar-based. They’re mostly nonsense. Looking at media reports about Credit Suisse’s new “Global Wealth Report” I almost dismissed it, thinking it would be just another list, until I […]

Swiss exports, imports slow down, reflecting global economic woes

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BERN, SWITZERLAND – Swiss exports and imports continued to expand in the first nine months of 2011, but with the rate of growth slowing down steadily and “losing strength” and reflecting the state of the world economy, the Swiss Statistical Office said Thursday morning in a press release. Exports grew by 2.4 percent from January […]

Swiss stock market slides less than European neighbours’ mkts. Monday

ZURICH, SWITZERLAND – Worries over the sovereign debt and financial sector woes in the euro zone hit world stocks Friday 9 September, and the slide continued Monday, with European stock markets down by 2.5 to 4.1 percent in the morning. The SMI, Swiss index of star shares, suffered less than most, down 2.3 percent. Asian […]

HSBC’s massive job cuts put Swiss reductions in shade

GENEVA, SWITZERLAND – Europe’s largest retail bank, HSBC in the UK, announced job cuts 1 August that will reached 30,000 by the end of 2013, joining Switzerland’s UBS and Credit Suisse, as well as other large banks that have announced major staffing cuts in the past two weeks as financial markets fail to bounce back […]