Mortgages are stabilizing Swiss economy, says Credit Suisse

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Geneva, Switzerland (GenevaLunch) – Home loans, which account for 90 percent of bank credits in Switzerland, have grown by 5.2 percent in the first nine months of 2009, with the rate of increase up most strongly since March. And while the rate of growth of corporate loans is down, they, too, continue to grow. “There [...]

Refugee head says move from Geneva to Budapest saving it $13 million

Geneva, Switzerland (GenevaLunch) – The cost of providing humanitarian aid is growing, with the number and intensity of crises increasing, maintaining at a high level the number of refugees who cannot return home. António Guterres, the UN High Commissioner for refugees, told the annual meeting of the UNHCR in Geneva Monday 28 September at its [...]

World trade rebounds, China noses ahead of Germany to lead

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Geneva, Switzerland (GenevaLunch) – World trade rebounded sharply in the second quarter, according to World Trade Organization (WTO) figures just released. World exports (which are also world imports) increased by 7.7 percent in the second quarter of 2009, compared with the first quarter, and reached $2.88 trillion in the second quarter, up 6.6 percent overall. [...]

Ceva rail project dealt blow by high court decision

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Lausanne, Switzerland (GenevaLunch) – The planned light rail line connecting Cornavin-Eaux Vives-Annemasse (Ceva) was delayed again by Switzerland’s administrative high court, in a decision made public 8 September. Two of the project’s partners, canton Geneva and CFF, Swiss federal railways, had asked the court to lift about 60 injunctions against the project, arguing that the [...]

US and Europe set to talk about aircraft subsidies at WTO

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Geneva, Switzerland (GenevaLunch) – A confidential interim WTO (World Trade Organization) report on European assistance to the aircraft industry, notably Airbus, was issued Friday, reports Frances Williams in the Financial Times, and a similar report on US assistance to Boeing is expected in the next few months.

Vinea orders sunshine for Swiss winelovers crowd

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Sierre, Valais, Switzerland (GenevaLunch) – For the 16th year in a row, Vinea, the main wine fair for Swiss wines, managed to order sunshine for its two days of wine-tasting. This is the first year that the fair, organized originally by Valais winemakers to promote their own wines, has been opened to bottles from throughout [...]

Google told to stop Swiss street views, immediately

Bern, Switzerland (GenevaLunch) – Faces too easy to see and car license numbers too clearly visible: Google Maps street views have crossed a legal line in Switzerland just two days after springing views of Geneva and other cities on the world. The Swiss data protection and privacy commissioner, Hanspeter Thuer, Friday 21 August told Google [...]

Glorious Swiss weekend ahead, but first the hot shower

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Saint Prex, Vaud, Switzerland (GenevaLunch) – Prepare for a weekend of 18-25C temperatures and sunshine alternating with some cloud cover – a change from this week’s sweltering heat, with Geneva recording its hottest day of the year, over 36C, Thursday 20 August. But before the great Saturday and Sunday weather, prepare for late Friday highs [...]

Zurich banker, Geneva-Zurich lawyer indicted in Miami: US widens Swiss banks probe

Update 21 August  Miami, Florida, USA (GenevaLunch) – A banker for NZB (Neue Zürcher Bank), Hansruedi Schumacher, and a Geneva and Zurich lawyer, Matthias Rickenbach, both Swiss, were indicted Thursday 20 August in Miami, Florida on charges of conspiring to defraud the US. The two are accused by the US of helping US residents to [...]

Street view on Google Maps comes to Switzerland

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Geneva, Switzerland (GenevaLunch) – Google maps, the application from internet giant Google, just released a new version of  its maps application that includes street views, seamless 360° views of the centre of most Swiss cities.  Taken by vans that cruised around the city centre taking countless photographs, the project has caused concern around the world [...]