GENEVA The Groupement des Entreprises Multinationales (GEM) comprises 81 member companies that employ more than 30,000 people in the region. Responsible for more than 40% of GDP in the cantons of Geneva and Vaud, they account for one in three jobs and 75% of national investment in R&D. “Thanks to a diverse economy, with small […]
India complains about secret accounts
The Swiss finance minister, Eveline Widmer-Schlumpf, has received a letter from her Indian counterpart complaining about an alleged lack of cooperation over funds stashed by Indian citizens in Switzerland’s banks. A finance ministry spokesman confirmed to the Sonntagszeitung newspaper that the letter had arrived and that the Indian finance minister would get a reply “soon”. […]
Boost for Swiss start-ups
LAUSANNE Fathi Derder, Conseiller national and President of Le Réseau has announced government approval of a series of initiatives to boost start-up competitiveness. These include improving tax treatment of investors, creating a “fund of funds” to finance start-ups and establishing a second stock market (similar to AIM in the UK). These initiatives go a long […]
CHF 4000 minimum wage proposal
GENEVA The proposal by Swiss unions to raise the minimum wage has sparked debate as to whether the initiative offers a durable option for the country. By increasing it to CHF 4,000 a month, Switzerland will have to adapt its fiscal policies accordingly. This in turn will affect Swiss businesses. They will have to contend […]
Commodities: a suspect trade
GENEVA Developing countries could be losing between $8bn and $120bn a year as a result of commodity mispricing in Switzerland, the world’s leading commodities trading hub, according to a report published by the Centre for Global Development in January. Co-author Alex Cobham explained on the CGD’s website that it had also found evidence of “larger […]
Bionic hand success
LAUSANNE A prosthetic hand with touch-sensitive fingers has allowed Dennis Aabo Sørensen to feel objects in his grasp for the first time since he lost his left hand in an accident almost 10 years ago, EPFL scientists said. The 36-year-old Danish man was fitted with the “bionic hand” during a month-long trial last year, and […]
Sponsorship restarts Swiss Hockey Cup
LAUSANNE Starting this year, Switzerland will once again have a national ice hockey competition. Zurich Insurance Group has become the official presenting partner of the Swiss Hockey Cup in a four-year deal brokered by InfrontRingier. The tournament was last held in 1965–1966. “With the Swiss Ice Hockey Cup, we are taking the opportunity to mark […]
