Category Archive: 3) Swiss Markets and News

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Swiss remain divided over 5G rollout

Swiss opinion over the expansion of the 5G telecommunications network is still split down the middle, according to the latest survey on the subject. The Swiss government is convinced that the new technology poses minimal health risks and is committed to the rapid erection of 7,500 5G antennae.  

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Recent price rises only the beginning, says Swiss consumer association

Food, energy and housing costs are rising in Switzerland and consumers are beginning to change their spending habits. So far inflation in Switzerland has been moderate with annual inflation of 2.5%. However, according to FRC, a consumer association in French-speaking Switzerland, recent price rises are only the beginning, reported RTS.

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Stop organic farming to help future food crisis, says Syngenta boss

Erik Fyrwald, the CEO of the Swiss agrochemicals group Syngenta, has called for an end to organic farming to avoid a worsening food crisis. The president of the Swiss Small Farmers’ Association meanwhile dismissed his arguments as “grotesque”.

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Swiss central bank rejects ‘creative’ demands to change course

The Swiss National Bank (SNB) continues to beat off demands to fight inflation by raising interest rates and to distribute more reserves to cantons and other causes.

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Historians trace Elon Musk’s Swiss roots to Emmental

Tesla CEO Elon Musk has roots in a small, picturesque farming region in central Switzerland. Using genealogy websites and local archives, historians have been able to connect Musk with the Haldimann name, which is still present in the Emmental region today.

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Covid loan claims fuel rise in suspected fraud cases

The number of reported suspicious financial transactions continued to rise in Switzerland in 2021, but at a lower rate than in the first year of the pandemic.

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Rising prices put pressure on Swiss consumers and industry

Consumers in Switzerland are much more pessimistic about the general economic situation, with households feeling the strain as prices continue to rise, a new survey shows.

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Tips for cutting energy bills

As the prices of fossil fuels skyrocket and further supply and price uncertainty looms, many are seeking ways to cut the amount they spend on home energy. A publication by the Swiss Federal Office of Energy (SFOE) shows where savings can be made.

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Average annual healthcare costs hit 9,600 francs in Switzerland in 2020

Statistics published on 26 April 2022 show health expenditure in Switzerland rose to CHF 9,648 (US$ 10,8001) per person in 2020, making Switzerland (probably) the second biggest per-capita healthcare spender in the world – the OECD has not yet published 2020 expenditure for the US, which is typically the world’s highest spender.

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The riddle of Russian money in Switzerland

There’s a well-worn Swiss bankers joke about the venality of a particular country. The actual country changes with the times but since this is April 2022, it starts like this: “Where is the capital of Russia?”

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Geldcast update: calls for a more transparent Swiss National Bank

The Swiss National Bank (SNB) is very opaque by international standards. That has to change, says Yvan Lengwiler, professor of economics at the University of Basel. He explains his proposals in the latest Geldcast update.

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Swiss technology foils Russian censorship

The Swiss software Kiwix enables the user to copy entire websites so they can be accessible offline. Now that Wikipedia risks sanction in Russia because of its content on the Ukraine war, downloads of the free online encyclopaedia using Kiwix are off the charts. 

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Energy prices: government considers measures to help households

The Swiss government has set up a working group to examine whether measures are needed to relieve the burden on households caused by rising energy prices.

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Swiss trade unions sound alarm about rising cost of living

Trade unions say middle- and lower-income workers in Switzerland are facing a “shock” in 2022, with wages unable to offset rising inflation and health insurance costs.

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Easter march through Bern addresses war in Ukraine

The traditional Easter march has taken place in the Swiss capital, Bern. This year the “Walk for Peace” focused on issues including the climate and Russia's invasion of Ukraine.

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Impact of Swiss finance sector on country’s GDP waning

The contribution of Switzerland’s finance industry to the country’s gross domestic product (GDP) has decreased over the past ten years.

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Swiss to decide individually on Russian commodity deals

Switzerland will decide case by case whether to curtail traders' purchases from Russia's state-controlled companies under European Union sanctions. The State Secretariat for Economic Affairs (SECO) which is in charge sanctions confirmed the Swiss policy to follow in principle the EU measures, which aim to limit commodity deals to those deemed "strictly necessary" from mid-May.

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Crypto Nation Switzerland tackles workforce shortages

The rapidly expanding Swiss blockchain industry is facing growing pains: a limited supply of qualified workers to fill the expanding number of job vacancies. Universities are stepping up to meet the challenge by designing new courses around blockchain and decentralised finance.

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Swiss consumed 4.3 percent more electricity in 2021

The Alpine nation consumed 2.4 million kilowatt hours (kWh) more electricity in 2021, equivalent to the annual consumption of 479,800 households. “In addition to the pandemic-related 'compensatory effects' in the second quarter, general economic development, the weather and population development increased consumption in 2021,” said the Swiss Federal Office of Energy (SFOE) on Thursday.

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Students demand a bitcoin education

A few years ago, during a bitcoin price rally, a colleague relayed a story about her husband attending a university lecture. He noticed several students glued to their smartphones. Peering over a few shoulders he saw they were more focused on crypto profits than the lecture.

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