India and Switzerland have signed a deal that would allow both to automatically share tax-related data from 2019. The Automatic Exchange of Information (AEOI) will be implemented on January 1, 2018; the first year will involve collection of data in accordance with global standards.
Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of U.S. bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB, Reuters reported.
The case adds to the political storm that has raged for more than two years over the scandal at 1Malaysia Development Berhad (1MDB), the focus of money-laundering investigations in at least six countries including Singapore, Switzerland and the United States.
Virtual currency investment firm Crypto Finance has closed a €13 million capital raise to fund an application for the license with Swiss Financial Market Supervisory Authority (FINMA), but did not specify a timeline. Established in June this year, the company provides asset management, brokerage and storage facilities to the crypto-investing community.
It is one of a wave of startups looking to create an alternative financial system in Switzerland as the country’s traditional banks continue to shy away from the booming cryptocurrency market.
A 25-year old in Switzerland today would be set for a corporate workplace pension five percentage points lower than that of a compatriot only a few years older, according to a study by Willis Towers Watson.
The consultancy’s Swiss arm regularly carries out a benchmarking study of the pension plans of companies making up the Swiss Leaders Index (SLI). This comprises the issuers of the 30 largest and most liquid securities in the Swiss equity market. Companies such as ABB, Julius Baer and Nestlé are currently in the index.
The Global Knowledge Index is based on a combination of six sectoral indices including preuniversity education; technical vocational education and training (TVET); higher education; information and communications technology; research, development and innovation (RDI); and, finally, economy, in addition to a general sub-index on the general enabling environment.
Switzerland’s environment may not be doing as well as perceived, according to the latest report by the Organization for Economic Cooperation and Development (OECD) released, which suggests that the swiss country should do more to address threats to biodiversity.
Altough one of the greenest OECD countries, Switzerland still needs to try to reduce threats to biodiversity and seek more sustainable consumption patterns, as high levels of waste generation and road traffic are putting pressure on the densely populated Central Plateau, according to the OECD’s third environmental performance review of Switzerland.
Sirin Labs, the Swiss-Israeli technology firm founded and by led by Moshe Hogeg, said on Thursday it had so far raised about $115 million in an initial coin offering to support the development of a smartphone and other products using open source blockchain technology.
Switzerland has been ranked for the past seven years as the world’s most innovative country by Cornell, the World Intellectual Property Organization and the INSEAD Business School.
So, Indian IT companies up North are looking up to Switzerland for the technical know-how in Robotics; economists consider Switzerland could emerge as a competitor to California, given the availability of technology, people and funding in Switzerland which are fuelling the robotics sector.
