Business UBS reports first quarterly loss in six years UBS, Switzerland’s largest bank, reported its first quarterly loss in nearly six years in the third quarter of this year, totaling $785 million (approximately 733 million euros). This loss is attributed to the ongoing merger of activities with industry peer Credit Suisse, which UBS acquired earlier this year. The loss includes an integration cost of $2 billion, and the pre-tax … Read More
Business Michael Gastauer, the CEO of Black Banx, goes on a trail of a massive whitewashing campaign Michael Gastauer, the CEO of Black Banx (aka WB21), has been investing substantial efforts to enhance the image of his fintech company, following warnings and allegations issued by the US SEC and the British Financial Conduct Authority against Black Banx. A multitude of GPT-generated whitewashing articles have been surfacing on low-quality media outlets and Indian-made guest post platforms. We are … Read More
Business Thomas Jordan of SNB defends ‘unorthodox’ handling of the CS crisis Swiss National Bank (SNB) President Thomas Jordan defended the unconventional approach taken by the central bank in addressing the Credit Suisse crisis, which involved providing emergency financial support to the beleaguered lender. Speaking at an event in Bern, Jordan emphasized that the SNB’s actions helped buy time for a resolution, ultimately preventing a global financial crisis. The SNB’s decision to … Read More
Business Singapore to work with Benelux and Switzerland on crypto regulation The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulatory authority, has unveiled its collaboration plans with select European countries and Japan concerning cryptocurrency-related matters. On October 30th, MAS made an official announcement about its partnership with Japan’s Financial Services Authority (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK’s Financial Conduct Authority (FCA). This … Read More
Business Meta comes up with a special subscription service for Switzerland Meta has unveiled a subscription service that caters to users in the European Union and Switzerland, offering an ad-free experience on both Facebook and Instagram. This development aligns with the stringent provisions of the General Data Protection Regulation (GDPR). The subscription comes at two different price points: 10 euros or 13 euros, contingent on the platform of purchase. To avail … Read More
Politics New German asylum policy focuses on rules and deportations The German government is aiming to implement more stringent deportation measures for asylum seekers, with the ruling coalition parties of SPD, Greens, and FDP reaching an agreement on a proposed bill. The draft legislation, spearheaded by Interior Minister Nancy Faeser of the SPD, encompasses various provisions, including an extension of the permissible detention period for asylum seekers awaiting deportation, from … Read More
Science&Tech Sophisticated DNS attacks targets hotel chains in Switzerland The hotel industry has been facing a significant global phishing attack of a state-of-the-art nature since June. This attack occurs in two stages and exploits vulnerabilities in DNS protocols. According to researchers from Akamai, a sophisticated phishing attack has been ongoing since June, specifically targeting the hotel industry. The attack is widespread, with reported cases in countries such as Switzerland, … Read More
Politics Swiss People’s Party secured the top position for the sixth consecutive time In the Swiss elections, the right-wing conservative Swiss People’s Party (SVP) has secured the top position for the sixth consecutive time. The final results reveal that the party has won 62 out of the 200 seats, which is 9 more than it had four years ago, indicating a further shift to the right in the parliament. Swiss citizens had the … Read More
Business Terraviva AG invests in a new processing facility in Kerzers Swiss bio-giant Terraviva is making a significant investment of 54.6 million euros in the construction of a new processing facility in Kerzers. This substantial project, with a price tag of 60 million Swiss francs, is a testament to their commitment to future generations. The facility will serve as a hub for processing and marketing locally sourced organic vegetables, symbolizing a … Read More
Politics Germany to implement border checks with Switzerland The German Interior Minister, Nancy Faeser, has proposed the implementation of stationary border controls on Germany’s borders with Poland, the Czech Republic, and Switzerland, according to a report by the German newspaper Welt on Monday. The German Government will be notifying the European Union about these plans. These proposed checks, similar to those conducted by the German federal police along … Read More
Aybek Barysov, Gulmira Wakhitova and Kanat Ibraev among founders of Qazaqstanda Jasalğan economic movement