News

14.07.2017

Switzerland supports Ghana with $80 mln to develop cocoa industry

Switzerland has earmarked an amount of $80 million to support the enhanced competitiveness of Ghanaian enterprises in the global market space, as well as help in government’s efforts at diversifying the Ghanaian economy. Ghana has been classified by Switzerland’s State Secretariat for Economic Affairs (SECO) as a priority country for economic development, resulting in the signing of the Swiss co-operation strategy for Ghana.

 
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14.07.2017

Price Discovery Lost

The manipulation of the prices of precious metals is already well-known, and even so no criminal proceedings have been undertaken against the central banks, which also buy stocks. This has had as a consequence that the prices of equities are at the moment artificially high. Investors should take profits now.

 
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14.07.2017

Swissquote's clients now can trade bitcoins

Swiss bank Swissquote is the first online bank to launch Bitcoin trading. The company is pioneering a new product for the brokerage industry, choosing to launch trading in the virtual currency without leverage.  Now, clients will be able to exchange euros and US dollars into Bitcoin using their trading accounts. The lack of leverage in Swissquote’s offering represents a great alternative to unregulated exchanges for clients of the Swiss brokerage. Demand for trading cryptocurrencies has been slowly picking up amongst retail traders in recent months. As the popularity of the new asset class has been growing, several retail brokers have started offering CFDs on Bitcoin.

 
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13.07.2017

HSBC, UBS settle US litigation over rigging interest rates

HSBC and UBS  have each agreed to pay $14 million to settle private U.S. litigation accusing them of rigging an interest rate benchmark used in the $483 trillion derivatives market, Reuters reported. Switzerland’s largest lender was one of 10 banks accused of having rigged the Isdafix index, which is used to price swap transactions, commercial real estate mortgages and structured debt securities.

 
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13.07.2017

Falcon, first private bank to offer Bitcoin trading services

In a major event for Swiss banking and Bitcoin generally, Falcon Private Bank became the first Swiss bank to begin offering customers direct access to their Bitcoin and altcoin portfolios. Through a partnership with Bitcoin Suisse AG, the bank is able to provide the necessary infrastructure to allow clients access to their coin holdings. Wealthy clients of Swiss private bank Falcon will be able to store and trade bitcoins via their cash holdings with the bank from Wednesday, a move that signals the traction the virtual currency is gaining even in slow-changing asset management.

 
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13.07.2017

Millennial Generation will be worth $24 trillion by 2020

The millennial generation could be worth as much as $24 trillion in three years' time, according to UBS, not bad when it's roughly 1.5 times the size of the U.S. economy in 2015. But the research shows a surprise: in the Middle East millennials are more hard-working and entrepreneurial compared to their global peers.

 
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13.07.2017

Greece step back from austerity, sets to leave EU blacklist

The EU recommended on Wednesday that three times bailed-out Greece has made enough progress in balancing its budget to be removed from special oversight of government spending. The move is a further boost for Athens days after it secured a fresh tranche of cash from its latest bailout to meet crucial debt payments and avoid a fresh crisis. 

 
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13.07.2017

Switzerland, France to set tax data exchange

Switzerland and France have smoothed over concerns which had blocked the exchange of tax data between the two countries, a boost to French efforts to pursue cash hidden from the taxman. The way in which data sent over by Switzerland was used in a French legal case involving UBS, Switzer­land’s biggest bank, had raised concerns for the Swiss that the two countries had different understandings of their double taxation agreement (DTA). DTAs are in place to try to prevent double taxation and also set the ground rules for administrative assistance in tax matters.

 
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13.07.2017

Google won the legal fight in France over $1.3 bln tax bill

Google emerged on Wednesday as the victor in its latest legal battle in Europe, after a French court said the technology behemoth did not have to pay $1.3 billion in back taxes. At issue was whether Google had avoided taxes in France by routing sales in the country through an Irish-based subsidiary over a five-year period ending in 2010.

 
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12.07.2017

Singapore sentenced former BSI banker over 1MDB scandal

Former BSI banker Yeo Jiawei was on Wednesday sentenced to four-and-a-half years jail for money laundering and cheating, in a case linked to an investigation involving Malaysian state fund 1Malaysia Development Berhad (1MDB). Yeo, 34, had set up multiple suspicious transactions involving 1MDB, and admitted he secretly profited at least $3.5 million from the illicit transactions. He laundered a portion of the money by transferring at least $500,000 into his parents' bank account.  Prosecutors identified Yeo as a central figure linked to Malaysian financier Low Taek Jho, who was characterised by US investigators as the controller of a plan to drain billions from 1MDB.

 
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Events


Semptember 2015
  • 23
    Aug

    Regulierung – seit der Finanzkrise prägt der Ruf nach mehr Kontrolle das Banking: Wegen regulator

  • 24
    Aug

    Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa

  • 02
    Sep

    2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea

  • 11
    Sep

    ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.

  • 12
    Sep

    The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol

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