Category Archive: 3.) Swissinfo Business and Economy

Swiss firms get international boost for exports

The government has pledged CHF7.8 million ($8.5 million) over the next three years to help Swiss companies participate in major infrastructure projects abroad.

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How Credit Suisse rolled the dice on risk management — and lost

Five months before Greensill Capital’s collapse, Credit Suisse invited a special guest to present to its top ranks in Asia. The visitor was hailed as the sort of bold entrepreneur the bank wanted to do business with: Lex Greensill. “The tone was this is the exact kind of client the bank wants, tell the MDs to go out and find more guys like Lex,” said one senior manager who watched the November video conference.

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Swiss digital asset trading network expands

A blockchain-inspired trading infrastructure, which links banks, companies and investors to cryptocurrencies and a new breed of digital securities, is nearing fruition in Switzerland.

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Aviation industry demands action to get planes back in the air

Business, tourism and trade union leaders have put forward an action plan to get Swiss air transport back in action as the coronavirus pandemic drags on.

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A big festival for small screens: Visions du Réel goes virtual again

The pandemic looms over the Swiss documentary festival, but is far from being the main topic. Some films tackle the social effects of quarantine, such as Pacho Velez's "Searchers", which explores how social networks helped to compensate for the loneliness of isolation. Visions du Réel

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Swiss public institutions hit hard by white-collar crime

Swiss courts dealt with 52 major cases of economic crime last year that amounted to CHF355 million ($384 million) in losses, the consultancy firm KPMG said on Thursday. Public institutions were especially targeted by fraudsters.

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Restaurants to re-open despite high Covid infection rate 

The Swiss government has decided to allow outdoor tables in restaurants and bars again as of next Monday, following a four-month temporary closure. As part of its anti-Covid strategy, cultural and sports events will be open to the public under certain conditions, a government statement said. 

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Government approves accord with UK to ease trade for companies 

The Swiss government has approved an agreement with Britain on mutual recognition of companies with “AEO” customs security approval, designed to facilitate trade. This agreement is “intended to reduce technical barriers to trade and facilitate trade with the United Kingdom for companies with AEO status”, according to a government press release on Wednesday. The accord has yet to be ratified by Britain. 

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Fighting the pandemic blues – S02E01

Last year, as the coronavirus pandemic hit Switzerland, and the rest of the world, we asked our readers and followers to look at the bright side of those dark times. With the pictures and videos they sent us we compiled a season made of six episodes, filled with tiny moments of joy.

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Government faces growing pressure to relax Covid measures

Pressure is building on the Swiss government to ease restrictions imposed to contain the spread of the Covid-19 pandemic. The Federation of Small and Medium-sized Enterprises on Monday called for a review of the current situation, saying the government was focusing too much on health while failing to consider the economic and financial impact of the restrictions.

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Study shows benefits of physical and cognitive play in dementia patients

Elderly participants who trained regularly on a fitness device developed by a Swiss company showed improvements in cognitive skills, such as attention, concentration, memory and orientation. The study, carried out by an international team in two Belgian care homes, relied on a fitness game, known as “Exergame”, developed by a spin-off of the federal technology institute ETH Zurich.

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Lonza to create 1,200 new jobs at vaccine-production site

The Swiss pharmaceutical company is recruiting workers to join its new plant in southern Switzerland, where three production lines have been set up to manufacture an active ingredient of Moderna’s Covid-19 vaccine.

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Foreign firms creating more jobs in Switzerland despite pandemic

Switzerland has remained an attractive location for foreign firms, creating more jobs last year than in 2019 - despite the economic effects of the coronavirus pandemic, Swiss public television SRF and RTS have reported.

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All electric pledge by Swiss car-sharing firm

Car-sharing company Mobility says it will electrify its entire fleet of 3,000 vehicles and build a network of e-charging stations by 2030.

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Switzerland asks EU for exception to vaccine export rules

As of this week, Switzerland can no longer import Covid vaccines from the European Union (EU) without a special license. Officials in Bern have asked to be granted an exception to the stricter conditions.

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Swiss firms hold out hopes in US infrastructure upgrade

US President Joe Biden’s major infrastructure plan is raising high hopes for Swiss firms in the construction and building industry. Although first contracts are expected to go to local firms, experts believe Swiss firms could score opportunities thanks to their specialisation and presence in the US market.

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Nestlé attacks food benefits of Brazilian workers during the pandemic

The Swiss multinational is celebrating 100 years in Brazil but its poorest workers face food voucher cuts amid rising food prices caused by the pandemic. After a century of doing business in Brazil – Nestlé’s fifth largest market with CHF2.79 billion ($2.94 billion) in sales in 2020 – the Swiss food manufacturer faces the discontent of trade unions in the South American country. 

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Switzerland and ILO sign agreement on development cooperation

Economics Minister Guy Parmelin and the Director-General of the International Labour Organization (ILO), Guy Ryder, have concluded an agreement on development cooperation. Parmelin, who holds the rotating Swiss presidency this year, also announced that Switzerland had joined a global platform to combat child labour, forced labour and human trafficking, the government said on Thursday.

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Private sector joins government to protect ‘Swissness’ abroad

Major industry associations have joined forces with public agencies to combat free-riders who abuse the “Swiss brand” abroad. The association for Swissness enforcement is intended to foster coordinated action against the wrongful use abroad of Swiss indications of source.

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The Swiss textile machinery industry has a China dilemma

Amid allegations of forced labour involving Uyghur and other minorities in the garment supply chain, the Swiss textile machinery sector faces thorny questions about its ties to and reliance on China. In 2014, the same year the Swiss-China free trade deal went into force, a group of industry colleagues including a representative of the Swiss firm Uster Technologies visitedExternal link cotton gins and spinning mills in Xinjiang, Western China.

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