Category Archive: 3) Swiss Markets and News

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Covid-19 sent Swiss Energy Consumption Plummeting in 2020

2021-06-22

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2021-06-22

The Swiss consumed almost 11% less energy last year due to the Covid-19 pandemic and warmer weather, according to the Federal Office of Energy. In total, Swiss residents used up 747,400 terajoules (TJ) of energy in 2020 – a fall of 10.6% compared to 2019 - the office said in a statementExternal link on Monday.

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Swiss Cities Demand end to Opaque Cantonal Tax Competition

2021-06-22

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2021-06-22

The proposed 15% minimum corporate tax rate is an opportunity for Switzerland to unite its tax code for the better, says an organization representing Swiss cities. City finance directors have criticized cantons for trying to plug expected tax gaps unilaterally, rather than find a common approach nationwide.

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Covid: Delta variant does not worry Swiss vaccination commission

2021-06-21

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2021-06-21

Switzerland is well prepared to take on the Delta variant, said Christoph Berger, head of Switzerland’s federal vaccination commission. Based on what we currently know, there is no need to be concerned, he said, reported RTS.

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Swiss economy on way back to normal, says top treasurer

2021-06-21

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2021-06-21

Switzerland’s economy will be back to its pre-pandemic level as early as this year and does not need a stimulus package, says Sabine D'Amelio-Favez, director of the Federal Finance Administration. The Confederation has incurred debts of CHF30 billion ($33 billion) to stem the economic consequences of Covid-19, she said in an interview published on Saturday by newspapers of the CH Media group.

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Credit Suisse carnage brings financial risk for banks into focus

2021-06-20

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2021-06-20

Credit Suisse’s disastrous Greensill and Archegos investments have highlighted the destructive side of banking. Regulators and politicians are asking what the Swiss bank did wrong and what can be done to protect investors from future risk-assessment failures.

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Switzerland commits CHF12 million to humanitarian aid in Venezuela

2021-06-19

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2021-06-19

This year Switzerland will provide more than CHF12 million ($13 million) in humanitarian aid to Venezuela and the region, it said at the Donors’ Conference in Solidarity with Venezuelan Refugees and Migrants.

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Swiss among last to embrace wind and solar power 

2021-06-18

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2021-06-18

Switzerland is lagging behind most European countries when it comes to solar and wind power. In terms of per capita production, it ranks second to last in comparison with surrounding countries, according to the Swiss Energy Foundation (SES).

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Icy relations warm up in Geneva

2021-06-17

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The handshake between US-President Joe Biden and his Russian counterpart, Vladimir Putin between made headlines in Geneva on Wednesday. The atmosphere of their meeting was described as “warm”. The summit took place amid a huge security operation involving thousands of police and military personnel. The lake and parts of the city became no-go zones. swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is...

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Basel to become the fifth canton with a minimum wage

2021-06-17

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2021-06-17

Over the weekend, a majority of voters in the canton of Basel-City voted in favour of a minimum wage of CHF 21 (US$ 23) an hour. The move will make Basel-City the first German-speaking Swiss canton to adopt a minimum wage, following in the footsteps of Geneva, Neuchâtel, Jura and Ticino.

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A plea to Swiss banks from the Russian Arctic

2021-06-17

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2021-06-17

Swiss banks might not be the most obvious allies for indigenous communities struggling to survive in Russia’s Far North. But their financial clout could drive multinationals to change their business practices, argue those affected by a major environmental disaster last year.

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Covid: Swiss cases fall as UK cases turn exponential. Why?

2021-06-16

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2021-06-16

Coronavirus Data Explorer, May and June 2021
The number of Covid-19 cases in Switzerland continues to fall. On 15 June 2021, 243 new cases were reported. A month earlier the 7-day average was 2,161 cases. Swiss cases have dropped by 89% in a month. In the UK the number of cases has roughly tripled over the same period and the government has decided to extend current restrictions until 19 July 2021.

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Swiss hail ‘cordial’ talks with Biden

2021-06-16

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2021-06-16

Swiss President Guy Parmelin has underlined the importance of bilateral relations after a “cordial” meeting with US President Joe Biden. Parmelin also called Wednesday’s US-Russia meeting a “sign of hope”. Biden arrived in Geneva on Tuesday afternoon, ahead of the summit with Russia's Vladimir Putin.

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How Geneva is preparing for Biden and Putin

2021-06-15

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Geneva will be hosting the first presidential meeting between the American president Joe Biden and his Russian counterpart Vladimir Putin. Preparations are underway. As the host country, Switzerland will be deploying its good offices and taking all the necessary measures to ensure that talks, which start on June 16, can take place as safely and as discreetly as possible. Issues which have contributed to a rise in tensions between the United...

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SWISS airline job cuts less severe than expected

2021-06-15

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2021-06-15

Swiss International Air Lines will make fewer pandemic-related job cuts than feared following consultations with staff and trade unions. On Tuesday, SWISS said the number of intended layoffs has been reduced to 550 from the 780 announced last month. Of the 550 affected jobs, 58 employees have accepted a downgrade from their current positions so that they will remain with the company.

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Pesticide-free farming: can the vision seduce Swiss voters?

2021-06-14

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2021-06-14

Voters decide Sunday on two separate initiatives aiming to ban or reduce the use of synthetic pesticides in the country. Polls suggest the proposals are on the back foot. Is Switzerland about to become an organic farming pioneer?

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Switzerland-EU: a Complicated Relationship that puts Swiss Research at Risk

2021-06-13

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2021-06-13

They break up, they get back together, and then they break up again. The rift between Bern and Brussels over the framework agreement is causing frustration among Swiss researchers who depend on EU funding for their work. Universities, companies and start-ups fear that science and research will become "collateral damage" of a negotiation gone wrong.

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Switzerland plans subsidies to offset G7 corporate tax plan

2021-06-12

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2021-06-12

Swiss-based multinationals such as commodities trader Glencore will receive subsidies and other incentives under plans Switzerland is drawing up to maintain its competitive tax rates, even as the country prepares to sign-up to the G7’s new plan for a global minimum tax on big businesses.

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Child Labour rises for first time in two decades 

2021-06-10

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2021-06-10

The world has witnessed the first rise in child labour in 20 years and the coronavirus crisis threatens to push millions more minors into the same fate, the United Nations said on Thursday. Swiss multinationals from food giant Nestlé to mining titans Glencore and Trafigura have struggled to eradicate child labour from their supply chains and the communities where they work.

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Swiss Unemployment Continues to Fall in May

2021-06-10

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2021-06-10

By the end of May 2021, the percentage of Switzerland’s workforce registered as out of work had fallen to 3.1%, down from 3.3% in April 2021. The figures are based on those registered as unemployed at regional employment centres and exclude many of those that have been out of for more than two years and have exhausted their rights to collect unemployment benefits.

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Switzerland clears Covid-19 vaccine for 12 to 15 year-olds

2021-06-09

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2021-06-09

On 4 June 2021, Swissmedic, Switzerland’s drug approval authority, announced it was extending authorisation of the Pfizer/BioNTech vaccine to 12-15 year olds. The vaccine, also known under the brand name Comirnaty®, has had temporary ordinary authorisation for use in Switzerland on people aged 16 or over since 19 December 2020.

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