Category Archive: 3) Swiss Markets and News

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The strong Swiss franc – truth or myth?

The Swiss franc has hit an all-time high against the euro. Even though it trades at an unprecedented CHF0.95 to the euro, the strong franc no longer poses a threat to the Swiss economy. What has changed in the last ten years? 

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Swiss landlords fear lawsuits for turning down heating

Landlords and tenants are opposing government calls to reduce household heating to 19 degrees Celsius, warning it might spark a flurry of lawsuits.

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Melting Swiss glaciers reveal tragedies of the past

Switzerland’s melting glaciers have revealed more unexpected, macabre secrets than ever this summer: human remains and plane wreckage trapped in the ice for over 50 years. Such discoveries are set to multiply in the coming years, says Robert Bolognesi, a snow science expert. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on...

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Test hackers fail to breach Swiss Post’s e-voting system

Not one hacker managed to penetrate the Swiss Post’s e-voting system during a security test, according to Swiss Post. The system withstood 60,000 attacks.

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$200 million fine for UBS and Credit Suisse

The biggest two Swiss Banks have each been fined $200 million (CHF199 million) as part of a large-scale US investigation into the failure to preserve electronic communications.

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Swiss pensioners to be compensated for inflation

Pensions in Switzerland should in future be topped up to fully account for the rising cost of consumer goods, parliament has agreed.

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Credit Suisse forced to address restructuring concerns

Troubled Swiss bank Credit Suisse has sought to quieten rampant speculation about its upcoming strategic revamp following leaks to the media and concerns of its staff.

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Swiss diaspora more keen on pension reform and animal welfare

While the pension reform, which raises the retirement age for women from 64 to 65, was narrowly accepted in Sunday's vote, the Swiss Abroad were more strongly in favour. The majority of voting expats were also in favour of abolishing factory farming and withholding tax unlike resident citizens. Pauline Turuban My specialty is telling stories, and decoding what happens in Switzerland and the world from accumulated data and...

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Zurich to enshrine the circular economy in constitution

Voters in Switzerland’s biggest canton have overwhelmingly approved a new article to promote a cleaner and more efficient use of resources.

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Marked economic slowdown on horizon in Switzerland

On 20 September 2022, government forecasters announced downgraded expectations for GDP growth in Switzerland. A group of experts focused on predicting business cycles downgraded expected GDP growth to 2.0% in 2022 and to 1.1% in 2023.

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Reform of withholding tax flops in Swiss ballot

Voters have thrown out a decision by parliament to scrap withholding tax on interest from Swiss bonds. Final results show 52% of voters coming out against the reform, which was aimed at boosting investment in Switzerland as well as strengthening the country’s competitiveness and its finance industry.

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The positives and negatives of Swiss interest rates

By normal standards, interest rates of 0.5% are considered low. But Switzerland has just emerged from a long period of negative interest after the Swiss National Bank (SNB) raised rates from -0.25% to +0.5%.

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Work to begin on Swiss backup power plant

The Swiss government has given the green light to begin the construction of a temporary reserve power plant due to be operational from February next year.

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Wealthy echelons thrive amid economic volatility

The world’s richest people saw their wealth expand last year as stock markets and real estate gained in value, according to Swiss bank Credit Suisse.

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Energy worries likely to slow Swiss growth, say experts

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

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

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

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

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

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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