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Europe Daily Bulletin No. 10723

6 November 2012
Contents Publication in full By article 31 / 32
BUSINESS NEWS NO 39 / (ae) banking

Switzerland and Luxembourg less attractive for foreign wealth investment. - Swiss and Luxembourg banks are attracting fewer millionaires due to questions concerning banking secrecy and competition from abroad. According to a study carried out by the Ecole d'économie de Paris, deposits of around $2.7 billion from foreign customers have been going to tax havens over the past three years. Funds are also shifting to banks in Hong Kong, Singapore and the Cayman Islands, which are far less...

Contents

A LOOK BEHIND THE NEWS
ECONOMY - FINANCE
INSTITUTIONAL
SECTORAL POLICIES
EXTERNAL ACTION
BUSINESS NEWS NO 39
WEEKLY SUPPLEMENT