Category Archive: 3.) Investec

Swiss retail sales up 30 percent in May after COVID-19 measures eased

Recently published figures show a overall jump of 30.2% in retail sales in May 2020 compared to April 2020. May’s rise of 30.2% follows falls of 6.5% in March and 13.7% in April.

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Swiss salaries rise faster than inflation for the first time in 2 years

In 2019, Swiss salaries were on average of 0.9% higher than the year before. A nominal rise of +0.9% combined with low inflation of 0.4% delivered a real boost of 0.5% to someone earning an average salary in Switzerland.

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Swiss government forecasts 2021 deficit but no tax hikes

The coronavirus is set to knock a CHF 1 billion hole in Switzerland’s federal budget for 2021, according to a press release. Without the virus the budget was CHF 2.2 billion in the black. Post virus the budget is now CHF 1 billion in the red. The virus is expected to add CHF 2.0 billion to next years spending. The extra money is earmarked for SARS-CoV-2 tests, business loan guarantees and support to the sports sector.

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Swiss National Bank forecasts deflation until 2022

On 18 June 2020, the Swiss National Bank (SNB) said it would maintain its negative rate of interest (-0.75%) and remains willing to intervene more strongly in the foreign exchange market.

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Coronavirus: new cases stable with small rise in deaths in Switzerland

In the seven days to 12 June 2020, the number of new SARS-CoV-2 infections recorded in Switzerland was 127. A similar number of new cases was recorded in the week before (108) and the week before that (121), according to Worldinfometer.com.

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Coronavirus: Switzerland plans to lift all restrictions on Schengen movement

Switzerland’s Federal Council plans to lift all travel restrictions and re-establish free movement of persons across the Schengen area no later than 6 July 2020 and possibly as early as mid June, it announced today. If the epidemiological evolution allows, restrictions on entering, working and living in Switzerland will be lifted for all Schengen states from mid-June and no later than 6 July, said the government.

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Swisscom network experiencing problems

Since 11:50 am on 26 May 2020, Swisscom’s mobile and landline networks have been experiencing problems. Landline and mobile network calls are currently impaired for business and private customers, according to Swisscom.

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EasyJet customer data hacked

Yesterday, EasyJet announced that a “highly sophisticated” cyber-attack had affected around 9 million customers. The company said its “investigation found that the email address and travel details of approximately 9 million customers were accessed. These affected customers will be contacted in the next few days. If you are not contacted then your information has not been accessed.”  

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Coronavirus: anti-lockdown protests in Switzerland

Over the weekend, hundreds rallied against lockdown measures across Switzerland in the cities of Bern, Zurich, Basel and St. Gallen. Anti-lockdown protesters in these cities flouted rules introduced in mid-March banning public groups of more than five people, designed to reduce the spread of the SARS-CoV-2 virus. The protestors consider the rules in breach of their fundamental rights.

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Most think Switzerland is reopening fast or too fast, according to survey

A survey published on 7 May 2020, suggests only 36% of Swiss support the government’s calendar for reopening the country after the Covid-19 shutdown. 23% think the plan to reopen is too slow, while 42% think it is fast or too fast. However, 60% said they had confidence in the government.

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Coronavirus: new rules for Switzerland’s restaurants

Restaurants in Switzerland will be able to reopen on Monday 11 May 2020. But they’ll need to follow strict rules that were published this week. The seven pages of detailed restaurant rules will make dining in the time of Covid-19 quite different to what we’re accustomed to.

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Swiss GDP set for worst fall in decades

A team of economic experts working for the Swiss government forecasts a 6.7% fall in GDP and unemployment to rise to 3.9% in Switzerland in 2020. If these predictions prove right, it will be the biggest slump in economic activity since 1975.

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Coronavirus: Switzerland extends lockdown until 26 April

On 8 April 2020, Switzerland’s government decided to extend the country’s lockdown measures for a further week. In a press release the Federal Council said the measures would be extended for another week and then possibly progressively loosened before the end of April.

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Coronavirus: Swiss tourism expected to lose 6.4 billion francs

Tourism is one of the sectors hardest hit by the coronavirus and the response to it. Figures from a study by HES-SO Valais published by the newspaper Blick suggest the industry will see revenues in Switzerland drop 18%, or CHF 6.4 billion, in 2020.

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Close to one fifth of households in Switzerland behind on debt payments

In 2017, 18.9% of Switzerland’s population lived in a household with outstanding debt repayments, a percentage that has rose from 17.7% over the proceeding 4 years. The most common forms of outstanding debts were taxes, health insurance premiums and phone bills. 9.9% of households had outstanding tax payments, 7.3% owed health insurance money and 5.2% had an outstanding telecommunications bill.

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Swiss Post stops accepting parcels and letters to China

Swiss Post has said it will no longer accept packages addressed to China, according to Tribune de Genève. Because of the covid-19 virus, airlines have stopped or drastically reduced flights to China. This fall in air traffic has reduced postal service capacity to China by two thirds.

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The labels that show how much more international retailers charge Swiss

To simplify labelling, many international retailers put recommended retail prices (RRP) for multiple nations on the same label, like the one below. The Swiss retail price premium laid bare.Labels such as these show how much more Swiss customers are being charged compared to customers in other countries.

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Swiss private bank Pictet to drop fossil fuel investments

Recently, the private bank Pictet, based in Geneva, announced plans to eliminate all of its investments in companies actively associated with the production and extraction of fossil fuels, according to a press release.

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Swiss environmental agency sets no date for 5G launch

Earlier this week, Switzerland’s Federal Office for the Environment (FOEN) announced it had contacted the cantons at the end of January 2020, informing them it had not set a date for switching on 5G networks. However, mobile networks plan to continue installing 5G equipment after rolling out more than 2,000 antenna last year – a map showing where the new antenna are can be viewed here.

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Switzerland most expensive country in 2020

It will come as little surprise to many that Switzerland has been ranked the world’s most expensive country. Put together by the magazine CEO World, the ranking pulls cost of living data on accommodation, clothing, taxi fares, utilities, internet, groceries, transport, and dining out, from a number of other studies.

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