Category Archive: 3) Swiss Markets and News

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Swiss Institute in New York appoints new director

2022-03-19

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2022-03-19

German-born Stefanie Hessler, 35, will head the Swiss art space starting in May. Her appointment is part of several rearrangements in institutions run by the pharma billionaire Maja Hoffmann.

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Swiss companies’ balancing act with Russia

2022-03-18

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2022-03-18

Big consumer brands are leaving Russia in droves but for many Swiss companies untangling ties isn’t that easy.  Jessica covers the good, the bad, and the ugly when it comes to big global companies and their impact in Switzerland and abroad. She’s always looking for a Swiss connection with her native San Francisco and will happily discuss why her hometown has produced some of the greatest innovations but can’t seem to solve its housing crisis.

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Swiss economic prospects for 2022 dampened but not decimated

2022-03-17

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2022-03-17

The Swiss economics ministry has downgraded its growth forecast for 2022 due to the war in Ukraine. But it still predicts a solid post-pandemic upswing.

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Russian clients have up to CHF200 billion in Swiss banks

2022-03-16

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2022-03-16

Swiss banks hold between CHF150 billion and CHF200 billion ($160-$214 billion) in assets belonging to Russian clients, according to the Swiss Bankers Association.

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Experts warn of hit to economy without Russian oil and gas

2022-03-16

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2022-03-16

Renouncing Russian oil and gas would have serious consequences for the Swiss economy, an expert from the KOF Swiss Economic Institute has told a Sunday newspaper.

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Switzerland approves CHF80 million in emergency aid for Ukraine

2022-03-13

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2022-03-13

The Swiss government has boosted its humanitarian support to victims of the war in Ukraine. On Friday it approved CHF80 million ($86 million) as an “expression of its solidarity with Ukrainians in need”.

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Stay or go? Western consumer brands wrestle with Russian dilemma

2022-03-12

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2022-03-12

Vladimir Putin’s invasion of Ukraine has led to an exodus of well-known western brands from Russia, but not every company has joined the rush.

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Covid cases up 42% in a week in Switzerland

2022-03-11

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2022-03-11

This week, 171,085 new Covid-19 cases were reported in Switzerland, up 42% from the 120,901 cases reported a week earlier. In addition, the reported number of Covid-19 patients hospitalised leapt too. This week 482 were admitted, up 37% from 352 the week before. Photo by Pixabay on Pexels.comThe 7-day average case number had been in constant decline since the end of January 2022. However, the number of new cases turned upwards towards the...

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Swiss Post Office bounces back from pandemic difficulties

2022-03-11

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2022-03-11

The Swiss Post Office more than doubled profits to CHF457 million ($493 million) last year as it was less affected by pandemic restrictions.

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Switzerland listed as ‘unfriendly’ country by Russia

2022-03-10

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2022-03-10

Russia has drawn up a list of around 50 countries, including Switzerland, that have committed “unfriendly actions” against Russia, its companies and citizens, in the wake of severe economic sanctions over the war in Ukraine, the Russian state media agency TASS reports.

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Swiss parliament paves way for genome editing

2022-03-09

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2022-03-09

The Swiss parliament has decided to ease restrictions on genetic engineering in agriculture, while extending in principle a moratorium for genetically modified organisms (GMOs) until 2025.

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Russia sanctions list: What the West imposed over the Ukraine invasion

2022-03-08

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2022-03-08

The US, UK and EU have adopted sanctions aimed at freezing the assets of President Vladimir Putin and his foreign minister, Sergei Lavrov, in response to the war in Ukraine.

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Swiss emergency relief supplies arrive in Ukraine

2022-03-08

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2022-03-08

Around 35 tonnes of emergency aid, including medical equipment and tents, sent from Switzerland to help victims of the war in Ukraine have arrived in the capital, Kyiv.

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Covid: weekly cases and hospitalisations rising again in Switzerland

2022-03-06

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2022-03-06

This week, 120,9017 new Covid-19 cases were reported in Switzerland, up 24% from the 97,335 cases reported a week earlier. In addition, the reported number of Covid-19 patients hospitalised edged up slightly from 340 to 352 compared to the week before. Photo by cottonbro on Pexels.comThe 7-day average case number had been in constant decline since the end of January. However, the number began to turn upwards in the days leading up to the end...

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Why Switzerland doesn’t want to join the European Union

2022-03-06

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2022-03-06

Switzerland and the European Union have a complicated relationship. The recent decision by the Alpine nation to definitively shut the door on a framework agreement with the EU reaffirms its attachment to its independence. It shows that 30 years after refusing to join the EU, Switzerland's stance has only been reinforced. We look at some of the main reasons why.

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Chart of the week: Swiss retirement age compared

2022-03-06

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2022-03-06

Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper....

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Switzerland builds business case for non-fungible tokens

2022-03-05

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2022-03-05

NFTs have hit the headlines with spectacular sakes of digital artworks, such as the wildly popular CryptoPunks. Keystone / Obs/4artechnologies The latest blockchain phenomenon, the non-fungible token (NFT), has generated vast profits for artists and a raft of fraudulent scams. Several Swiss NFT projects have set out to prove that the technology can have a lasting impact beyond the spectacular headlines. This content was published on March 5,...

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Switzerland simplifies process of employing foreign workers

2022-03-04

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2022-03-04

Companies will no longer have to prove there are no Swiss job candidates in some sectors. Moves to cut red tape for non-EU foreign workers in Switzerland will not necessarily lead to more work visas being issued. On Friday, the government announced measuresExternal link to make it easier to hire skilled workers from such countries as India, Britain, China and the United States.By making it simpler to award B and L work permits, Switzerland hopes...

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Switzerland triggers wide range of sanctions against Russia

2022-03-04

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2022-03-04

More than a million Ukrainians have fled their country since the Russian invasion. Switzerland said it is activating sanctions against Russia on Friday, including a ban on many industrial exports and wide-ranging restrictions on financial activities, which includes cutting Russian banks from the SWIFT financial messaging system.

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Ukraine: What Swiss sanctions-busters need to consider

2022-02-27

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2022-02-27

Legal expert Mark Pieth is amazed that Switzerland is taking its own problematic approach to international sanctions against Russia. When Russia invaded Ukraine, the US and the EU announced economic sanctions, whereas Switzerland announced that it would first have to analyse the new situation. The obvious question there is what has the Swiss Government been doing for the past few weeks, as tensions have been rising?

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