Category Archive: 3) Swiss Markets and News

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Energy worries likely to slow Swiss growth, say experts

2022-09-21

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2022-09-21

Swiss economic growth forecasts for 2022 and 2023 have been revised significantly downwards, amid uncertainty over energy supply and inflation.

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Swiss housing market tightens further in 2022

2022-09-20

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2022-09-20

Data published on 12 September 2022 show how the pool of available housing continues to shrink in Switzerland.

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Swiss electricity data reaches government with major delays

2022-09-19

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2022-09-19

The Swiss government lacks up-to-date information on national electricity production and consumption, according to the Swiss Federal Office of Energy. This is due to the lack of digitalisation of the electricity companies. The lack of information was a focal point of Sunday news report amid rising concerns over an energy crunch in Europe as Russia’s war in Ukraine drags on.

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Competition authorities probe Novartis over suspected patent abuse

2022-09-18

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2022-09-18

The Swiss competition commission (COMCO) has opened an investigation into suspected unlawful use of a patent to reduce competitive pressure by Swiss pharmaceutical giant Novartis.

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Swiss car importer pledges to end petrol vehicle sales

2022-09-17

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2022-09-17

Switzerland’s largest car importer, AMAG, plans to sell purely electric powered vehicles from 2040 and is diversifying into solar systems and heat pumps.

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Switzerland braces for winter energy crunch

2022-09-16

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2022-09-16

Despite being one of the world’s richest countries, Switzerland also faces the threat of an energy shortage in the coming months. The authorities are scrambling to prepare.

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Swiss parliament okays purchase of F-35 jets from US

2022-09-16

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2022-09-16

Switzerland’s House of Representatives has approved the purchase of new F-35 fighter jets from the United States. The decision clears the path for Bern to sign the purchase contract, even though an initiative to prevent the deal has not been voted on by Swiss voters.

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Support drops for pension reform and factory farming ban 

2022-09-15

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2022-09-15

A reform of the Swiss old age pension system has lost ground but is still likely to win a majority in a nationwide vote later this month, pollsters say. 

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Swiss price watchdog lays out options for slashing electricity costs

2022-09-15

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2022-09-15

By reducing grid connection fees and municipal duties, the federal government could help to keep electricity bills down, Stefan Meierhans told Le Matin Dimanche newspaper. Meierhans said it is possible for the government to change the framework conditions that would allow a lowering of fees for using the grid.

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Former UBS CEO sees no need for two big Swiss banks

2022-09-14

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2022-09-14

Having two big players like UBS and Credit Suisse provides no “compelling” economic benefit for Switzerland, Sergio Ermotti has told the NZZ am Sonntag newspaper.

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Novartis to spend $300m on biotherapeutics drive

2022-09-14

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2022-09-14

Swiss pharmaceutical company Novartis is investing $300 million ($288 million) in biotherapeutics development, which includes a new $100 million biologics hub at its home base in Basel.

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How gold mining in Ghana is threatening Swiss chocolate

2022-09-13

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2022-09-13

As the world’s second-largest cocoa producer continues to lose swathes of farmland to illegal gold mining, Switzerland's chocolate makers are waking up to the threat to their raw material supply.

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Home ownership remains a mirage for most Swiss

2022-09-13

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2022-09-13

Many Swiss dream of owning a single-family home in the countryside and passing it on to their children. For most, this dream is increasingly unrealistic.

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Swiss electricity prices to rise as much as 280% in 2023

2022-09-12

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2022-09-12

Next year, average electricity prices in Switzerland are set to rise 27% with significant difference depending on where you live, reported RTS. In 2023, an average household consuming 4,500 kWh a year will pay an extra CHF 261 a year for their electricity.

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38% of Swiss speak more than one language at work

2022-09-12

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2022-09-12

In many places one language is all that is required at work. In Switzerland, 37.7% of workers surveyed reported regularly using two or more languages at work, according to data published by the Federal Statistical Office on 6 September 2022.

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Swiss court gives Nord Stream 2 more time to avoid insolvency

2022-09-11

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2022-09-11

The Swiss company behind the Russian gas pipeline Nord Stream 2 has received a four-month extension to try to repay its debts. 

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Migrant workers head back to Switzerland as Covid-19 restrictions end

2022-09-10

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2022-09-10

Switzerland has returned as a popular destination for foreigners looking for work after two years of Covid-19 restrictions. Over 75,000 people have immigrated to Switzerland so far in 2022, driven largely by an economic boom and unemployment levels falling to a 20-year low.

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Too soon to say inflation has peaked, says SNB boss

2022-09-09

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2022-09-09

The president of the Swiss National Bank (SNB), Thomas Jordan, says the inflation outlook is more uncertain than normal and it is premature to say prices have peaked. “You cannot say we have passed the zenith and now it is certainly heading lower,” Jordan told a Finanz and Wirtschaft financial conference on Thursday.“

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Social security

2022-09-09

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2022-09-09

Switzerland has a social security network that covers risks in many areas – work, health, family and old age. 

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Swiss economy slows but stays in the black

2022-09-07

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2022-09-07

Switzerland’s economic output slowed to 0.3% between April and the end of June, compared to the first quarter of the year. The manufacturing, construction, trade and financial services sectors all showed signs of weakening in the face of energy shortages and rising inflation.

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