The money laundering scandal widens again. Tuesday, during a press conference at which the Federal Financial Market Supervisory Authority announced it had ordered the dissolution within 12 months of the BSI, the director Mark Branson spoke of "six other Swiss banks are under investigation for their role in the corruption scandal Petrobras and the Malaysian fund 1MDB ".
The Federal Council approved today the program of stabilization of the federal budget for the 2017-2019 period provides for lower outputs of between 800 million and one billion francs a year. The plan was necessary because of the "holes" in the state budget caused by the strong appreciation of the franc following the abandonment of the minimum change threshold with the euro by the Swiss National Bank.
The agency Standard & Poor’s confirmed the triple "A" for the debt of Switzerland. In a note, they are praised the capabilities of the Swiss economy, called "competitive and diversified". Confidence by the American Society of rating, is also expressed with regard to the Swiss National Bank, after about a year and a half after the decision to abolish the minimum exchange rate between euro and franc.
PostFinance has become a member of the Swiss Bankers Association (SBA)., Coming thus to render the institution Swiss Banking Ombudsman.
In yesterday’s session of the ASB Board of Directors, composed of 300 members, has approved the application for membership, is today in a statement PostFinance know that as one of the leading Swiss banks, is under the supervision of the Federal Authority financial market supervisory Authority (FINMA).
PostFinance, which has been authorized to conduct banking business in 2013, has achieved in the past year a profit of 459 million francs, 77 more than in the previous year. The client deposits fell by around 2.8 billion.
The number of failures for insolvency suffered in April jumped by 25% to 424 over one year, according to Bisnode’ note today , international economic information companies.
To be precise, in the first four months of the year, 1,541 companies have brought books in court for insolvency figures up 9% over one year. In Ticino, from January to April the failures for insolvency were 112 (+ 13%). Graubünden has gone from 18 to 23 bankruptcies (+ 28%).
Julius Baer announces that it has recorded an increase in deposits of 6 billion, ie by 2% compared to the end of 2015. This progression must constantly increase the supply of capital and consolidation, 1 April 2016, the Italian management company Kairos that manages funds for about 9 billion. A contribution which more than offset the negative trend of the exchange rate fluctuations, primarily the weakness of the US dollar and British pound against the Swiss franc.
The figure divulged by Julius Baer enrolled in the fork of the forecasts of analysts who expected a mass under management of between 290 and 309 billion francs with a consensus at 302.7 billion.
The City of Lugano has decided to act on a request agreement with Almaty in view of a network collaboration with partners active in the area. The mission’s program provides, in fact, for each company present, a series of B2B meetings with potential Kazakh partners. Considering that in Lugano there is already a significant number of activities related to Kazakhstan in the most dynamic sectors, the agreement with Almaty is a good opportunity for the promotion of Lugano worldwide and serves as a support to the development strategies already in place at regional level.
Orascom, a company owned by Egyptian businessman Samih Sawiris, expects a loss in the first quarter of 2016 between 26 and 28 million francs. The figure represents approximately the entire loss of 2015, announced Monday the holding company that builds and operates real estate, especially in Andermatt (UR). The final figures will be announced on Thursday. In addition to the loss, we expect a decline in turnover from 17% to 20%.
