Black money: Switzerland asks banks to check illegal asset flows
Under pressure from India and other nations to act against black money menace, Switzerland will put in place stricter due diligence norms for banks to prevent inflow of illicit assets into the country.
Jun 05, 2015, 22:22 PM IST
Swiss prosecutors close HSBC case, bank to pay more than $40 mn
Swiss prosecutors Thursday closed an investigation into allegations British banking giant HSBC's Geneva branch helped clients evade millions of dollars in taxes, after the bank agreed to pay tens of millions in compensation.
Jun 04, 2015, 23:04 PM IST
Black money: Switzerland discloses more requests from India on Masoods
Continuing to shed its famed banking secrecy veil, Switzerland Tuesday made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.
Jun 02, 2015, 22:45 PM IST
Swiss Re says no plans to enter direct insurance biz in India
World's second largest reinsurer Swiss Re Thursday said it has no plans to enter the direct insurance business in the country.
May 28, 2015, 19:00 PM IST
EU-Switzerland accord to end banking secrecy, curb tax evasion
The European Union and Switzerland signed a major accord Wednesday to end banking secrecy for EU residents and prevent them from stashing undeclared income in Swiss banks.
May 27, 2015, 21:05 PM IST
Switzerland, EU sign automatic information exchange pact
In a major step towards shedding its long-held banking secrecy tag, Switzerland Wednesday signed an agreement for Automatic Exchange of Information (AEOI) with European Union.
May 27, 2015, 17:18 PM IST
Swiss accounts: India seeking details on foreign entities too
Indian nationals are not the only ones about whom India's tax authorities have sought details from Switzerland as they have also requested for information on some foreign entities, mostly based in tax havens.
May 26, 2015, 23:12 PM IST
Era of tax haven has come to an end: FM on latest Swiss move
With Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitely on Tuesday said the era of tax haven has come to an end and it is no longer safe to keep assets abroad illegally.
May 26, 2015, 20:50 PM IST
Yash Birla has 'no individual account' in his name, says group
With Yash Birla's name being made public by the Swiss government in relation to an information request from the Indian tax authorities, his business group Tuesday said he has "no individual bank account in his name or under his control".
May 26, 2015, 20:38 PM IST
Swiss move gives enough hints of action to follow: FM
'Delighted' at Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitley on Tuesday said this should provide enough indications of actions to follow for those holding unaccounted assets outside India.
May 26, 2015, 18:52 PM IST
Switzerland begins making public list of black money holders, two Indians named
Two Indian women figure among scores of foreign nationals with Swiss bank accounts, whose names have been made public by Switzerland in its official gazette for being probed in their respective countries.
May 25, 2015, 22:21 PM IST
Switzerland hopeful of resolving FTA issues
Switzerland on Friday expressed hope that India and European Free Trade Association (EFTA) will resolve differences over the "sensitive issues" of data security and intellectual property rights.
May 15, 2015, 22:12 PM IST
Switzerland commits to cooperate in India's black money fight
Under the new law, those found to be stashing illicit funds in foreign locations, including Swiss banks, would face strict penal action.
May 15, 2015, 17:05 PM IST
Fight against black money: Swiss get 1,500 help requests a year
Gearing up for a new legal framework to help India and other countries in their fight against black money, Switzerland has said it gets 1,500 administrative assistance requests a year.
May 14, 2015, 19:34 PM IST
UBS net profit surges 88% in first quarter
Switzerland`s biggest bank UBS reported Tuesday an 88 percent surge in first quarter profits, despite a strong franc, outstripping analysts` forecasts.
May 05, 2015, 21:05 PM IST
No information on black money a/c provided by Switzerland: FM Jaitley
The governments of Switzerland, the United Kingdom and Spain have not provided details of any black money accounts, Finance Minister Arun Jaitley said on Tuesday.
May 05, 2015, 17:23 PM IST
Long-delayed Indo-Swiss free trade deal still snagged: Report
A long-delayed free trade deal between India and Switzerland is not likely to be signed soon, a senior Swiss official said Thursday, with differences on intellectual property rights and data protection still unresolved.
Apr 30, 2015, 23:27 PM IST
Swiss central bank posts massive loss on soaring franc
The Swiss central bank said Thursday it had posted loss of 30 billion francs in the first quarter due to a jump in the franc`s value which led to huge exchange rate-related losses.
Apr 30, 2015, 17:42 PM IST
Money laundering cases rise to record high in Switzerland
Long considered a safe haven for suspected black money, Switzerland has reported a sharp rise in the 'suspicious activity reports' received by its Money Laundering Reporting Office to a record high level of 1,753.
Apr 29, 2015, 18:38 PM IST
EU clears key hurdle to giant Lafarge, Holcim merger
The EU on Friday removed a key hurdle to the merger between French cement giant Lafarge and Swiss rival Holcim, approving the sale of assets demanded for the deal to go through.
Apr 25, 2015, 01:11 AM IST
