Page 5 - Switzerland

AI making disinformation look credible, need global governance: Swiss Prez

Swiss President Viola Amherd on Tuesday said that rapid advances in artificial intelligence are allowing disinformation appear more credible and cautioned against policies based on lies. She said digitisation at the same time also offers the potential for greater transparency and the sharing of knowledge and information. "This can help to build trust if used correctly. Switzerland is particularly committed to promoting the global governance of Artificial Intelligence (AI)," she said in her opening address at the World Economic Forum (WEF) Annual Meeting 2024 here. "Those who base their policies on lies and ideologies may be able to score points in the short term. But in the medium and long term, they will lose trust. Good policies are based on verified facts and take scientific findings into account," she added. The president said that the title motto of this year's annual meeting, 'Rebuilding trust', is not just a catch phrase but shows rather starkly that mutual trust among the

Switzerland hosts Zelenskyy and offers to host peace summit for Ukraine

Swiss President Viola Amherd said on Monday, during a visit by Ukrainian President Volodymyr Zelenskyy to Bern, that her country has offered to organise a peace summit that aims to help bring an end to Ukraine's ongoing war with Russia. "I confirmed to him that Switzerland is ready to organise a conference," Amherd said during a joint press conference with Zelenskyy. "We have agreed that we will examine the details of the next steps in depth to ensure that the peace process is a success." The two presidents said the Ukrainian and Swiss teams will begin preparations for the Global Peace Summit in Switzerland as early as Tuesday. No details were provided about when or how such a summit could take place, and Russia hasn't been involved in the process. "This summit is intended to infuse the necessary energy into everything that has already been achieved and to determine that the end of the war must be fair, and the restoration of the strength of international law -- complete," Zelenskyy

World Economic Forum: Davos-bound squad aims to turn spotlight on India

Top honchos from India Inc, finance, govt heading to the World Economic Forum

Quakes, storms cause $95 billion in insurance losses in 2023: Munich Re

The tally of losses from natural catastrophes covered by insurance is less than the $125 billion recorded in 2022 and is also lower than estimate of $100 billion published last month by rival Swiss Re

TCS modernises post-trade market infrastructure for Switzerland's SIX

Platform is the backbone of the Swiss market's post-trade value chain, says Indian IT firm

UBS steps up bid to claw back cash bonuses from Credit Suisse defectors

UBS has contacted hundreds of bankers and offered some multi-year payment plans amid efforts to claw back a chunk of the 1.2 billion Swiss francs ($1.38 billion) in restricted cash bonuses

EFTA deal with India could be signed before 2024 elections: Swiss envoy

Switzerland's Ambassador to India, Ralf Heckner, has expressed optimism that the crucial European Free Trade Association (EFTA) deal with the country would be wrapped up before the 2024 general elections. Heckner stressed on the importance of the proposed trade deal for unlocking innovation and investment opportunities. "Both sides have been negotiating very closely and seriously over the last more than 12 months. I remain positive that the deal would be wrapped up before the (2024) elections," he told PTI. The envoy was recently in the city to unveil the Kolkata chapter of the Swiss-India Chamber of Commerce. Parliamentary elections in India are due in early 2024. "If India wants innovation, it needs to work with about 12 to 15 countries, and one of those countries is Switzerland for a world of investments and innovation," We will have a more strategic innovation relationship with India, Heckner stated. India and the EFTA states Iceland, Liechtenstein, Norway, and Switzerland

Optimistic about EFTA deal with India before 2024 polls, says Swiss envoy

Switzerland's Ambassador to India, Ralf Heckner, has expressed optimism that the crucial European Free Trade Association (EFTA) deal with the country would be wrapped up before the 2024 general elections. Heckner stressed on the importance of the proposed trade deal for unlocking innovation and investment opportunities. "Both sides have been negotiating very closely and seriously over the last more than 12 months. I remain positive that the deal would be wrapped up before the (2024) elections," he told PTI. The envoy was recently in the city to unveil the Kolkata chapter of the Swiss-India Chamber of Commerce. Parliamentary elections in India are due in early 2024. "If India wants innovation, it needs to work with about 12 to 15 countries, and one of those countries is Switzerland for a world of investments and innovation," We will have a more strategic innovation relationship with India, Heckner stated. Noting the sharp rise in visa application processing numbers, which hit a r

Trafigura sets aside $127 mn provision for Brazil, US DOJ fine to end probe

Trafigura is alleged to have made profits from these contracts amounting so far to $143.7 million

Switzerland govt confirms woman found dead in Delhi was Swiss citizen

Switzerland has confirmed that a woman whose chained body was found from west Delhi's Tilak Nagar was a Swiss citizen. In a reply to a query from the PTI, Valentin Clivaz, Deputy Head of Media, Embassy of Switzerland in Delhi, in a statement said: "The FDFA (Federal Department of Foreign Affairs) confirms the death of a Swiss citizen in India." The Swiss embassy here is in contact with the local authorities. The FDFA supports relatives within the framework of consular protection, Clivaz said and added that no further details can be given for reasons of "data protection and personal privacy". The decomposed body of Nina Berger, aged around 30 years, was found from a spot near the wall of a Municipal Corporation of Delhi (MCD) school in Tilak Nagar on Friday. Her limbs were tied with metal chains, which were locked. On Tuesday, the Delhi Police had said it was waiting for the family members of the deceased to come forward and identify the body so that the process of autopsy could be

Some MNCs may face tax heat as SC clears air on MFN applicability

The issue emerged when India signed treaties with other nations, including Slovenia, Lithuania, and Colombia, and fixed a lower rate (5 per cent withholding tax)

India-Swiss relations example in today's era of war: Ambassador Heckner

Peaceful and friendly relations like the one between Switzerland and India are the way to go, especially in today's era of war, Swiss Ambassador Ralf Heckner said at the 'SwitzerlandIndia in Bloom' event here marking the 75 years of friendship treaty between the two countries. The event, held at the Embassy of Switzerland on Friday, commemorated this historic milestone through a lot of symbolism created through floral artwork. "Seventy-five years back India and Switzerland signed a friendship treaty and India had chosen Switzerland as the first country to sign the friendship treaty with after Independence. "So we are celebrating today friendship and peace. Those are the two words that we find in that treaty, and especially today in an era of war... peaceful and friendly relations like the one between Switzerland and India are definitely the way to go," the Ambassador told PTI. Switzerland and India signed the "Treaty of Friendship and Establishment" on August 14, 1948. This was the

India gets 5th set of Swiss bank details under info exchange framework

This is fifth such annual exchange of information between Switzerland and India with officials saying that new details shared with Indian authorities pertain to "hundreds of financial accounts"

Glaciers in Switzerland lose 10% of their ice volume in two years

Swiss glaciers have lost as much ice over this two-year period as was lost over the three decades between 1960 and 1990

UBS, Credit Suisse see growing probe over alleged Russian sanctions evasion

The probe is still at an early stage and may not result in charges or a settlement, the people said

Switzerland's gold exports up in August due to higher shipments to India

Switzerland is the world's biggest bullion refining and transit hub, while China and India are the largest consumer markets with local demand sensitive to high prices and time of the season

UBS Group AG to cut hundreds of wealth jobs in Asia as activity slows

UBS is battling muted client sentiment and activity levels in Asia-Pacific, where the regional business hub of Hong Kong has long been a booking center along with Singapore for China's ultra-wealthy

UBS Group begins $10 billion cuts, to fire 3,000 Swiss staffers: Report

The prediction of over $10 billion in cost-savings by end 2026 compares with an earlier estimate of $8 billion by 2027

UBS poised to keep Credit Suisse's domestic bank business, drop brand

The Zurich-based lender has set a target of winding down the Credit Suisse brand in the country, people familiar with the matter said

Swiss glaciers threatened as heat drives zero-temp level to record altitude

The Swiss weather service said Monday a heat wave has driven the zero-degree Celsius level to its highest altitude since recordings on it in Switzerland began nearly 70 years ago, an ominous new sign for the country's vaunted glaciers. MeteoSwiss says the zero-degree isotherm level reached 5,298 meters (17,381 feet) above sea level over Switzerland overnight Sunday to Monday. All of Switzerland's snow-capped Alpine peaks the highest being the 4,634-meter (15,203-foot) Monte Rosa summit had air temperatures over zero Celsius (32 F) where water freezes to ice, raising prospects of a thaw. Even Mont Blanc, Europe's highest mountain along the Italian-French border at some 4,809 meters (15,800 feet), is affected, the weather agency said based on readings from its weather balloons. The new high altitude eclipsed a previous record set in July 2022, a year that experts say was particularly devastating for the glaciers of Switzerland. Readings have been taken on the zero-degree altitude ..