Category Archive: 3.) Investec

No money likely from Swiss National Bank after large loss

Like most central banks the Swiss National Bank (SNB) is tasked with monetary stability. However, in the process it can inadvertently generate large profits and losses.

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Nearly 1 in 6 lives in a household with outstanding debts in Switzerland

Even before high inflation hit people’s pockets many Swiss households were over extended. In 2020, almost one in six residents lived in a household with debt arrears, according to data released this week by the Federal Statistical Office (FSO).

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Swiss debt enforcement offices aiding money laundering

In Switzerland, it is possible to pay delinquent debts with large sums of cash. Some criminals are using the loophole to launder money, reports Le Matin.

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Swiss franc worth more than the euro

This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew.

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Swiss government prepares for electricity price shock

Switzerland’s leaders are concerned by the current volatility of electricity prices and have started planning for a potential disaster scenario, reported RTS. Photo by Pok Rie on Pexels.comThe war in Ukraine has impacted energy provision across Europe, said Swiss energy minister Simonetta Sommaruga on Thursday. Price movements have reached historical levels and could worsen if gas supplies from Russia stop. If the price of gas spikes, some...

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Swiss exports reach all-time high

Data published on 17 March 2022 showed a 15.4% jump in Swiss exports in February 2022. The sharp rise in exports when combined with a 2.9% fall in imports led to a monthly trade balance of CHF 5.7 million. This is the first time in history that Switzerland’s monthly trade balance has exceeded CHF 5 million.

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Prices of dairy products set to rise in Switzerland

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.comSince the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15...

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Swiss employment reaches new record

Data published this week by Switzerland’s Federal Statistical Office (FSO) show that the number of active workers in Switzerland rose to a record 5.239 million by the end of 2021. Photo by Lex Photography on Pexels.comThe number of people employed at the end of 2021 was 1.9% higher than at the end of 2020. 5.239 million represents around 73% of those 15 or older. Sharp rise in hotel and restaurant jobs The number of people...

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Switzerland remains in top 10 for lowest corruption

Switzerland was ranked tenth in the latest 2021 Corruption Perception Index (CPI) published by Transparency International this week.

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Price of wood pellets rises sharply in Switzerland

The price of wood pellets in Switzerland is up 20% over the last 12 months, according to Patrick Schmutz, a wood pellet expert, reports RTS. According toSchmutz, the price rise is due to a cold 12 months, especially last spring, and the success of wood pellet heating. More and more pellet-based heating systems are being installed in Switzerland.

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Cost of Swiss postage hiked for first time in 18 years

From 1 January 2022, the cost of posting a standard letter for next day delivery (A-class) is 10% higher and a B-class letter 6% higher. These price hikes are the first of their kind in 18 years, reported RTS.

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Switzerland’s fastest and slowest growth cantons

This week, Switzerland’s Federal Statistical Office published the latest cantonal GDP figures. Switzerland’s overall GDP growth in 2019 was 1.2%. However there were wide cantonal differences.

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Switzerland remains top place for expats in 2021

Switzerland is the highest rated country in the latest HSBC expat ranking published this week, a position held for the last three years.

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Geo-blocking set to be banned in Switzerland

Geo-blocking is the practice of pushing online shoppers to a version of a website based on their geographic location. Many consumers would like to see the practice made illegal and Swiss laws look set to make it so, according to the NZZ am Sonntag, reported Le Matin.

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Nespresso capsules cannot be protected, says highest Swiss court

The shape of the Nespresso coffee capsules is ordinary and unmemorable, according to Switzerland’s highest court, reported RTS.

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Vote to increase Swiss retirement age clears signature hurdle

The youth chapter of the PLR (FDP) has successfully collected enough signatures for an initiative to raise the official retirement age in Switzerland to 66 years old, reported RTS. On 16 July 2021, initiative organisers submitted 145,000 voter signatures as part of the formal process of launching a referendum in Switzerland.

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How the Swiss Government gets Paid to Borrow

Normally, those who borrow must pay out more money than they are lent in the form of interest and repayments. Currently, for the Swiss government it is the other way around. Lenders are paying the Swiss federal government to give it money.

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Swiss Unemployment back below 3% again

On 8 July 2021, the Secretariat for Economic Affairs (SECO) published unemployment figures for June 2021. By the end of June 2021, there were close to 132,000 people registered as unemployed across Switzerland, 11,000 fewer than at the end of May 2021, bringing Switzerland’s overall unemployment rate down from 3.1% to 2.8%.

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Swiss Roaming Charges to Fall on 1 July 2021 but the Roaming Minefield Remains

On 1 July 2021, Switzerland’s revised telecommunications law came into effect. The new rules force mobile providers to make certain changes to deals they offer customers when roaming. Some of the resulting changes are positive, but not all. In addition, some operators have retained bundles that don’t comply with the new rules.

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Basel to become the fifth canton with a minimum wage

Over the weekend, a majority of voters in the canton of Basel-City voted in favour of a minimum wage of CHF 21 (US$ 23) an hour. The move will make Basel-City the first German-speaking Swiss canton to adopt a minimum wage, following in the footsteps of Geneva, Neuchâtel, Jura and Ticino.

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