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Zurich has transformed from a banking hub to a vibrant tech center, attracting innovative companies while facing challenges like rising housing costs. Mayor Corine Mauch emphasizes the city's commitment to maintaining social diversity through active housing policies and increasing nonprofit housing. Despite the financial sector's evolution, banks remain crucial to Zurich's economy, with a focus on sustainability for future growth.
A commission will present its findings today on the Credit Suisse-UBS merger, focusing on the actions of Swiss authorities during the crisis. Meanwhile, Switzerland and the EU are expected to officially conclude their negotiations, with key decisions on financial contributions and the free movement of persons anticipated. Other notable news includes ongoing investigations into a Chinese ship in the Baltic Sea and a tragic stampede in Nigeria that resulted in the deaths of 35 children.
A Geneva trader, Niels Troost, has been sanctioned by the EU for his involvement in Russian crude oil transactions through a Dubai subsidiary of Paramount Energy & Commodities SA, with asset freezes imposed. Troost, who denies the allegations, was previously sanctioned by the UK in February. In other news, negotiations between Switzerland and the EU are expected to conclude today, while ETH Zurich has fired professor Thomas Crowther following allegations of inappropriate behavior. Additionally, a report on the Credit Suisse crisis is set to be presented by the Parliamentary Commission of Inquiry.
Joël François Mesot
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zurich's transformation from banking hub to global tech center and housing challenges
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