Category Archive: 3) Swiss Markets and News

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Swiss president remains tight-lipped on ‘Covid leaks’

2023-01-27

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2023-01-27

Alain Berset told his ministerial colleagues on Wednesday that he had no knowledge of leaks from his department to the media. In public however Berset remains reluctant to give further information.

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Retirement at 68.2 to cover Swiss pension shortfall, says UBS

2023-01-26

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2023-01-26

Swiss resident’s are regularly reminded of the large financial gap is Switzerland’s state pension system. Despite this, several attempts at reform have failed to gain sufficient support. Those that have still leave a large shortfall. On 24 January 2023, UBS published four additional reform scenarios. Only the fourth, with a life expectancy adjusted retirement age of 68.2 years eliminates the current projected shortfall.

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Company takeovers and mergers on the rise in Switzerland

2023-01-26

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2023-01-26

Despite the volatile situation on financial markets and the war in Ukraine, the number of mergers and acquisitions (M&As) reached a record high in Switzerland in 2022.

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Swiss medicine sales to Russia hit 30-year high

2023-01-25

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2023-01-25

Swiss exports of pharmaceuticals to Russia, which are not subject to sanctions, reached a 30-year record last year, buoyed by high prices. Roche, Novartis and the other Swiss pharma companies brought in CHF2.1 billion ($2.3 billion) from the export of pharmaceuticals to Russia in 2022.

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Salient Features of Constitution Of Switzerland

2023-01-24

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The first version of the Swiss constitution was a breakthrough on the road to democratisation. It gave the cantons more autonomy and paved the way for creating one of the greatest democracies in Europe. However, it was far from perfect. It triggered numerous crises and failed to put an end to injustice. This episode is part of the series Swiss democracy hotspots with Claude Longchamp. This series in several parts is tailored for our author:...

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Why can’t the Swiss National Bank go bankrupt?

2023-01-24

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2023-01-24

The Swiss National Bank (SNB) will make a loss of CHF132 billion in 2022, and distribution of profits to the confederation and the cantons will be suspended. What does this mean for the stability of the SNB and what would happen if it faces another large loss?

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China-Switzerland flights struggle to resume after three years

2023-01-23

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2023-01-23

Geneva airport was expected to see the return of direct flights from China next week, but the scheduled Air China flights of January 26 and February 2 have been cancelled due to lack of passengers, reports Swiss public broadcaster RTS.

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Electricity prices could rise more in 2024, suggests head of Swiss regulator

2023-01-21

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2023-01-21

At a meeting in Bern on 19 January 2023, Werner Luginbühl, the head of Elcom, Switzerland’s electricity regulator, called on the sector to be careful to manage consumer expectations, reported RTS.

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Three Swiss firms ranked among top 100 family businesses

2023-01-20

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2023-01-20

Swiss pharmaceuticals group Roche, logistics company Kühne+Nagel and luxury goods group Richemont are among the world’s top 100 family businesses, according to a study by EY Switzerland.

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Crypto crash fails to deliver death blow to Swiss ambitions

2023-01-19

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2023-01-19

The crypto sector appears to be suffering an existential crisis, shedding jobs, client funds and credibility. Switzerland looks to have escaped with a glancing blow – if industry data is anything to go by.

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The gathering of bone doctors

2023-01-18

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The Swiss town of Davos is famous for mountain slopes, winter sports and the annual meeting of the World Economic Forum. But did you know that it also attracts scientists and doctors from all over the world? In this six-part video series, SWI swissinfo.ch journalists Sara Ibrahim and Michele Andina take you on a journey to discover five of Davos’s research institutes. In this first episode, they take you to the AO Davos Courses, a two-week...

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WEF: Oxfam urges windfall tax on food companies

2023-01-17

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2023-01-17

Food companies making big profits as inflation has surged should face windfall taxes to help cut global inequality, anti-poverty group Oxfam said on Monday as the annual meeting of the World Economic Forum (WEF) gets underway in the Swiss mountain resort of Davos.

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UBS eyes US and China expansion

2023-01-16

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2023-01-16

UBS chairman Colm Kelleher says Switzerland’s largest bank needs to expand its wealth management business in the US to compete with the big Wall Street banks.

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Switzerland and US sign deal on pharmaceutical supply chain

2023-01-15

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2023-01-15

US and Swiss authorities have agreed to share inspection documents on pharmaceutical manufacturing facilities in a move to improve efficiency and safety in the drug supply chain.

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Swiss unemployment lowest in 20 years

2023-01-14

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2023-01-14

On 9 January 2023, Switzerland’s State Secretariat for Economic Affairs (SECO) published the latest figures for the Swiss labor market in 2022 showing unemployment at its lowest rate for 20 years.

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Switzerland’s worker shortage putting pressure on unemployed to change career

2023-01-14

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2023-01-14

By international standards, unemployment payments are generous in Switzerland – typically 70% of salary. But they come with strict requirements for recipients to show they are engaging in actions deemed necessary to find work. With record numbers of unfilled jobs, pressure is now being put on some to change career, reported RTS.

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Rents rise by almost 3% in Switzerland

2023-01-12

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2023-01-12

Rents in Switzerland rose by an average of 2.8% last year, the largest annual increase in 14 years. Switzerland is unique in Europe with the majority of residents living in rented accommodation.

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Inflation, extreme weather and wars identified as top global risks

2023-01-12

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2023-01-12

Global stability is most threatened by rising food and energy costs, climate-related disasters and the risk of further military conflict, according to 1,200 experts canvassed by the World Economic Forum (WEF).

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‘Playful’ Swiss cheese marks record sales

2023-01-11

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2023-01-11

Switzerland’s Tête de Moine (Monk’s Head) cheese broke all-time sales and production records last year, due particularly to its “conviviality”, according to the sector’s president.

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From cocoa bean to chocolate: the process explained

2023-01-10

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The chocolate supply chain features many intermediaries from bean to bar. Those doing the hardest jobs at the bottom of the chain get a tiny portion of a bar's price while those at the top make the most money. Today, Ivory Coast and Ghana produce over 60% of the world’s cocoa beans and Switzerland has become synonymous with chocolate. This mutually beneficial relationship has come under strain in recent years. The West African countries are no...

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