The Swiss Times - Swiss News in English

First Yes to New Legal Basis for Development Financing

The Swiss Federal Council has proposed a law to regulate the Swiss Investment Fund for Emerging Markets (Sifem), a development finance company owned by the Swiss government. The Ständerat, the upper house of the Swiss Parliament, approved the proposal with 37 votes in favour, 3 against and 2 abstentions. The Sifem invests in small, medium and rapidly growing private companies in developing and emerging countries, with the aim of creating jobs and reducing poverty. It also supports companies in adhering to international standards for environmental protection, climate protection, social issues and responsible corporate governance. The Ständerat also proposed that the Sifem should be explicitly obliged to cooperate with relevant federal authorities such as the Directorate for Development and Cooperation (Deza) and the State Secretariat for Economic Affairs (Seco). The National Council will now decide on the proposal.

©Keystone/SDA

Most Read

Barry Callebaut to Cut 2,500 Jobs

26 February 2024
Barry Callebaut
Barry Callebaut, the world's largest chocolate manufacturer, announces significant job cuts as part of its "BC Next Level" savings plan.

Swiss Electricity Prices to Dip Slightly in 2025, Uvek Reports

29 February 2024
Swiss electricity prices
Swiss Electricity Prices expected to decrease in 2025 as DETEC reduces the capital cost rate for electricity grid investments.

Kuehne+Nagel Stabilise in 2023: Plans For Expansion

1 March 2024
Kuehne+Nagel Future
Kuehne+Nagel normalise growth after corona, despite a downturn, the firm aims for strategic growth and stability.

Swiss Competition Commission: Investigate UBS Now

1 March 2024
Swiss Competition Commission
Swiss Competition Commission seeks an in-depth investigation into UBS after the CS merger, highlighting possible market dominance issues.

Stay in Touch!

Noteworthy

Flixbus
Flixbus Total Sales Over Two Billion Euros For the First Time
29 February 2024
Zambon Group
Zambon Group: Exclusive Licensing Deal for IPX203 in Europe
29 February 2024