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Switzerland still world’s richest country: study

 

Switzerland has maintained its position as the richest country in the world, according to the Allianz Global Wealth Report 2011, which estimates Swiss residents’ personal wealth at almost €207,400 (250,113 francs, $286,215).

 

Drive-in sex stalls get Swiss green light

Drive-in sex stalls get Swiss green light

Zurich city parliament on Wednesday rubber-stamped a loan earmarked for the construction of drive-in sex stalls where punters can meet prostitutes at purpose-built venues away from the city centre.

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Man held in London over UBS rogue trading

Swiss banking giant UBS said on Thursday it had lost $2 billion (€1.46 billion) through unauthorised trading, after London police arrested a man suspected of committing the massive fraud.

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Central bank determined to enforce euro cap

The Swiss central bank pledged on Thursday to buy unlimited quantities of foreign currency to defend with "utmost determination" its cap on the franc's exchange rate against the euro.

Rogue trader costs Swiss bank UBS $2 billion

Rogue trader costs Swiss bank UBS $2 billion

Swiss banking giant UBS revealed on Thursday that a rogue trader had lost an estimated $2 billion (€1.46 billion) in unauthorised trades, and that it may plunge into the red as a result.

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Sion take Europa feud to Bern

Swiss club FC Sion took their feud against UEFA to Bern on Wednesday, saying that they had written to ask the Swiss finance minister to withdraw tax breaks to Europe's football governing body.