Category Archive: 3) Swiss Markets and News

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Electricity shortage boosts solar energy

Fears of an electricity shortage in Switzerland appear to have had a positive effect on the expansion of solar energy. The Swiss Federal Office of Energy (SFOE) expects the market to grow by around 50% in 2022.

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Inflation continues to bite in Switzerland

The cost of goods and services in Switzerland rose 3.5% in August compared to the same month last year, but the inflation rate still remains below that of many other countries.

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Swiss population urged to save energy to mitigate winter shortages

The Swiss government has appealed to the population to save on household energy ahead of anticipated electricity and gas shortages this winter.

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Switzerland should get tougher on money-laundering, says report

Swiss legislation is lagging behind in the fight against money laundering, and “seldom anticipates developments at international level”, the Swiss Federal Audit Office (SFAO) has warned.

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Healthcare and pensions top Swiss worry list

Healthcare costs, the pension system and climate change are the top three burning issues for the Swiss, according to a survey published by the Tamedia group. Covid has slipped out of sight and mind.

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Swiss electricity boss: energy policy not to blame for shortages

The head of the Swiss Federal Electricity Commission (Elcom) reckons a winter energy crisis is virtually unavoidable. However, he said the cause of the problem – war in Ukraine – was also difficult to predict.

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Switzerland’s population older than ever, shows recent data

In Switzerland, almost 1.7 million people were aged 65 or older at the end of 2021, a figure that makes up 19% of the population, according to data published on 28 August 2022.

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Swiss panoramic train to debut in December

The GoldenPass Express (GPX) panoramic train, which will link Montreux to Interlaken without any station changes, will make its debut on December 11. 

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Novartis job cuts to heavily impact management roles

Of the 1,400 job cuts announced by the pharma giant in Switzerland, up to half of them will involve staff in leadership positions, the company said on Monday. For these executive roles, the consultation process has been finalised, and the first individuals concerned will be informed “in the coming weeks”, said the head of Novartis Switzerland Matthias Leuenberger at a media event in Zurich.

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Zurich airport bounces back to profit after pandemic

Switzerland’s busiest airport has posted a CHF55 million ($57 million) net profit for the first six months of the year as post-pandemic air travel picks up.

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Switzerland banks on hydropower reserve to combat energy crunch

The Swiss Federal Electricity Commission (Elcom) has laid out plans to hold back hydropower reserves to help compensate for anticipated energy shortages this winter.

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Concerns raised over looming energy shortage

Leading voices from business and politics have called on the Swiss government – and in particular economy minister Guy Parmelin – to do more about possible energy and gas shortages over the winter.

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Swiss minister urges calm over energy shortage fears

The threat of energy shortages in Switzerland this winter should not be over-dramatised, Economics Minister Guy Parmelin has said in response to growing calls at the weekend for government action.

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Developer invests CH170 million in new Swiss tourist resort

The Andermatt Swiss Alps (ASA) company, majority owned by Egyptian financier Samih Sawiris, is to build a new 1,800-bed Alpine resort in the Sedrun region in southeast Switzerland.

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Swiss prepare for energy shortage ‘extreme scenarios’

The Swiss government and cantons are aiming to be prepared for “extreme scenarios” in the face of possible energy shortages this winter, a top cantonal security official says. For example, a power grid shutdown or blackout would have far-reaching consequences, Fredy Fässler, the president of the Conference of Cantonal Justice and Police Directors, said in an interview published in the tabloid Blick on Saturday.

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Poll finds early support for pension reform and eco-friendly farming

Despite leading in latest polls, a proposed ban on factory farming in Switzerland has limited chances of success at the ballot box next month, pollsters say. A reform of the old age pension scheme enjoys more solid backing. 

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Winter electricity cuts feared, says head of Swiss commission

Electricity cuts lasting several hours are predicted this winter in Switzerland, according to Laurianne Altwegg, vice president of the Federal Electricity Commission. This winter we should ensure we have enough candles and wood for a wood stove for those who have one, advised Altwegg in an interview with RTS.

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Credit Suisse pursues legal claim against SoftBank in $440m dispute

Credit Suisse Group applied to the English High Court last week to initiate formal legal proceedings against Japan’s SoftBank Group Corp over a $440 million (CHF414 million) dispute, according to the Financial Times.

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Solar power plant to be built on Lake Lei dam

A large alpine solar power plant is to be installed on the dam wall of Lake Lei near Ferrera in southeastern Switzerland. The 1,800 square-metre plant is being built by the Zurich Electricity Company. Located at an altitude of 1,930 metres, the plant will comprise more than 1,000 solar units with a total output of 350 kilowatts, equivalent to the consumption of 160 households.

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Cassis discusses finance and innovation with UAE minister

Swiss Foreign Minister Ignazio Cassis has met the foreign minister of the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan, in Ticino, southern Switzerland. The working lunch on the Brissago Islands in Lake Maggiore focused on the economy and finance, education, research and innovation, and sustainable development, the foreign ministry said in a statement on Thursday.

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