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Gunvor drops $22 billion bid for Lukoil assets after US moves to block deal
2025-11-07
Treasury calls Swiss trader ‘Kremlin’s puppet’ and says it would block its licence to operate. Swiss commodity trader Gunvor said on Thursday that it was scrapping its $22 billion bid to buy Lukoil’s overseas assets after the US moved to block the deal. The Treasury said in a post on X on Thursday that it …
Trump holds trade talks with Switzerland
2025-11-05
United States President Donald Trump has met with high-ranking representatives of Switzerland to discuss trade issues. +Get the most important news from Switzerland in your inbox Trump announced the talks on his Truth Social platform. US trade representative Jamieson Greer will continue discussions with the Swiss leadership. “I want to congratulate everyone present on a …
US says Switzerland can order fewer fighter jets amid cost hike
2025-09-14
According to the American authorities, a possible reduction in the number of F-35 fighter jets ordered by Switzerland is possible. They have informed Switzerland that this could be an option for cushioning the massive cost increase. +Get the most important news from Switzerland in your inbox Kaj-Gunnar Sievert, a spokesperson for the Federal Armaments Office …
Swiss banks reject one in three applications for credit
2025-09-11
In 2024, 35.5% of consumer credit applications were rejected by lending institutions due to solvency problems. This is a record high and is significantly higher than the previous year’s rejection rate of 30.8%, says the comparison portal Kreditvergleich.ch. The analysis is based on data from the Swiss central registry for credit information. +Get the most …
Global banks rush to fill Credit Suisse void for Swiss SMEs
2025-09-07
Global banks including JPMorgan, Bank of America and Deutsche Bank are stepping up an effort to serve Switzerland’s small and mid-sized companies, as they look to fill the void left by the collapse of Credit Suisse. +Get the most important news from Switzerland in your inbox Credit Suisse — which was one of the country’s …
Switzerland seeks improved tariff deal with US
2025-09-05
Swiss Economics Minister Guy Parmelin has flown to the United States with a new offer to resolve the customs dispute between the two countries. +Get the most important news from Switzerland in your inbox The purpose of Parmelin’s short notice mission was confirmed by Foreign Minister Ignazio Cassis. “We have drawn up an optimised offer …
Swiss olive cultivation to get a boost thanks to warm weather
2025-07-15
More and more farmers in French-speaking Switzerland see climate change as an opportunity for olive cultivation: the number of such trees could double to 20,000 by the end of 2026, surpassing that of Italian-speaking Ticino. Because of the rising temperatures, olive trees are also growing in regions where it was previously unthinkable. An association of …
Swiss weapons exports grew 20% in first half of 2025
2025-07-08
Switzerland exported more than 20% more war materiel in the first half of 2025 compared to the same period last year. +Get the most important news from Switzerland in your inbox The State Secretariat for Economic Affairs (Seco) reported around CHF358 million worth of military equipment exports. Among the buyers of Swiss military equipment were …
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