Geneva - Since the beginning of the year, countries around the world have been implementing protectionist measures, World Trade Organization Director General Pascal Lamy said Thursday, warning that this could have a negative impact on trade.
Lamy, in a report to WTO members, said he specifically noted increases in tariffs, non-tariff measures, and anti-dumping actions.
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.
Geneva - Air passenger traffic in February dropped by 10.1 per cent, following a trend of declines in recent months, The International Air Transport Association said Thursday.
A 5.9 reduction in capacity last month, deemed by the association to be "the most aggressive since the crisis began," was not able to keep pace with the continued decline in passenger travel.
Also, international freight volumes were 22.1 per cent below 2008 levels, the third consecutive month of such steep declines.
Geneva - Banque Cantonale de Geneve on Wednesday reported a record drop in profits last year, news that was counterbalanced by data showing a boost in the amount of funds deposited.
Profits at the regional publicly traded bank fell by 11.6 per cent to 68.1 million Swiss francs (60.3 million dollars), the bank reported.
However, it also reported 12,600 new clients, more than double the amount of a normal year, and a 930-million-franc increase in client funds deposited.
Geneva - Somalia is the scene of one of the worst humanitarian crises in the world and its citizens have been victims "of most terrible human rights and humanitarian law abuses," the United Nations expert on the east African country said Wednesday.