Switzerland

Swiss Re to cut 10 per cent of workforce

Swiss Re to cut 10 per cent of workforceGeneva  - Swiss Reinsurance Co, the world's second larger re-insurer, announced Thursday it would cut by 10 per cent its current global headcount of 11,560 employees over the next 12 months.

The company also named Agostino Galvagni as Chief Operating Officer and Member of the Executive Committee, starting the beginning of next month

Swiss Re said cost-cutting measures, including the layoffs, would lead to reductions of running costs of 400 million Swiss francs (350 million dollars) by the end of 2010.

FIFA asks for a minute's silence in memory of Abidjan victims

FIFA asks for a minute's silence in memory of Abidjan victims Zurich  - Football's ruling body FIFA asked Tuesday that all member associations scheduled to hold midweek 2010 World Cup qualifiers observe a minute's silence prior to kick-off in memory of the 22 victims of last weekend's Abidjan stadium disaster.

European airports to cut 500,000 tonnes of CO2 annually by 2013

European airports to cut 500,000 tonnes of CO2 annually by 2013

Julius Baer bank gets 34-year-old CEO

Julius Baer bank gets 34-year-old CEOGeneva  - One of Switzerland's largest private wealth managers will have a new chief executive officer come May, aged only 34 years old, the Julius Baer bank announced Tuesday.

The private bank said Boris Collardi would take over from current CEO Johannes de Gier.

Collardi, a Swiss national born in 1974, worked for Credit Suisse before joining the private wealth manager in 2006.

The previous CEO of Julius Baer, Alex Widmer, died suddenly in December 2008 at the age of 52, amid rumours that it was a suicide.

Red Cross: Humanitarian needs in Afghanistan, Pakistan not met

Red Cross: Humanitarian needs in Afghanistan, Pakistan not met Geneva - Ahead of a large international conference on Afghanistan, the International Committee of the Red Cross warned Monday that the humanitarian needs in the region were not being met and there was growing need to protect civilians from raging violence.

"The civilian population is bearing the brunt of the armed conflict in Afghanistan and Pakistan," Jacques de Maio, the head of the ICRC's South Asia operation, told reporters in Geneva.

Swiss neutrality means paying VAT on drugs and sex

Swiss neutrality means paying VAT on drugs and sex Geneva - A court in Switzerland ruled Thursday that value added tax must be paid for all things sold, even prostitution, dismissing a claim by a brothel owner.

The owner, who was told by the tax authorities to pay 95,000 Swiss francs (84,640 dollars) in VAT on the services she proffered, claimed the government could not tax "immoral" acts.

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