GENEVA - Switzerland's low corporate taxes, business-friendly regulations and reputation for discretion have attracted multinational commodities trading firms "as a dunghill attracts flies".
This is how The Berne Declaration - a Swiss NGO which campaigns to ensure local companies act responsibly - describes Switzerland's appeal in a new book that aims to shed light on the methods of an industry that traditionally prefers to conduct its business away from the gaze of regulators and journalists.
But that may be changing. The country's pre-eminent position in commodities is under threat from Singapore just when it most needs the business after a series of blows to its banking industry. Full story
