Category Archive: 3.) Swissinfo Business and Economy

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Why is Switzerland one of the most expensive countries?

2020-08-21

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Everybody seems to agree, Switzerland is one of the most expensive countries in the world, but why is that? The anecdotal evidence is there, and in the press, the big Swiss cities are constantly ranked among the most expensive cities in the world. Zurich and Geneva regularly make it into the top ten. And the Swiss are very much aware of these price differences. A study published at the beginning of 2020 concluded that Swiss businesses and...

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Neo-banks challenging Swiss financial sector

2020-08-20

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2020-08-20

New digital banks are popping up in Switzerland without a single branch or counter.  One of them, Zurich-based Neon, is staking its success on doing more with less and has attracted 30,000 customers.

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How I built my own Swiss watch – in a day

2020-08-19

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2020-08-19

Imagine assembling your own Swiss mechanical watch and taking it home with you at the end of the day. swissinfo.ch tried out the popular new concept run by Jura start-up Initium.

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Families face large differences in tax rates across Switzerland

2020-08-18

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2020-08-18

A comparison of tax rates across different cantons and cities found that Zug – home to many multinational companies – offers the most attractive tax regime for families.

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Pressure mounts on Swiss refinery Valcambi over questionable gold origins

2020-08-17

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2020-08-17

Industry associations are calling on Switzerland’s largest gold refinery to clarify the origins of its gold purchased from Dubai traders.

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Swiss luxury watch retailer Bucherer to shed jobs

2020-08-16

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2020-08-16

The leading Swiss luxury watch and jewellery company Bucherer has announced it plans to slash 370 of its 2,400 jobs worldwide due to the coronavirus crisis hitting tourism.

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Free trade deals save Switzerland billions, study finds

2020-08-15

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2020-08-15

Swiss consumers and importers saved CHF2.5 billion ($2.7 billion) in 2018 thanks to lower customs duties as part of free trade agreements, a study has revealed.

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Banks braced as pandemic poses biggest test since financial crisis

2020-08-14

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2020-08-14

During the depths of the coronavirus crisis in Europe in late March, Sergio Ermotti remembers sitting in his home study in Lugano, reflecting on the latest financial meltdown to engulf his career as a banker.

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Swiss government wants extra CHF770 million to tackle coronavirus

2020-08-13

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2020-08-13

The Swiss government has asked for an extra CHF770 million ($841 million) in funds to tackle the coronavirus fallout. This comes on top of the CHF31 billion in bailout funds approved by parliament since March.

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Traditional working model hampers Swiss women’s careers

2020-08-11

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2020-08-11

Swiss women are losing out when it comes to achieving managerial positions compared to their male colleagues and female peers from other countries. The common Swiss working model of women taking over childcare and men working full-time makes it harder for Swiss mothers to climb up the career ladder.

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Swiss International Air Lines’ turnover halved due to coronavirus

2020-08-07

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2020-08-07

The economic repercussions of the coronavirus have caused turnover at SWISS to fall by 55% in the first half of 2020. With a turnover of CHF1.17 billion ($1.28 billion) between January and the end of June, the carrier suffered an operating loss of CHF266.4 million in the first half of the year, following an operating profit of CHF245.3 million a year earlier.

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Switzerland’s dark business with Ukrainian coal

2020-08-06

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2020-08-06

Pro-Russian separatists are financing their war in Ukraine with coal deliveries to the West. Now the role of Swiss companies in Zug and Geneva is being investigated, according to a report in the SonntagsZeitung. 

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Pandemic crashed demand for hotels and trains

2020-08-05

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2020-08-05

The number of overnight stays in Swiss hotels practically halved in the first six months of the year. Covid-19 also hit demand for public transport, with passengers notching up a third of their normal distances by train in the past three months.

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Murdoch becomes major shareholder in Swiss MCH group

2020-08-04

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2020-08-04

James Murdoch, the son of media tycoon Rupert Murdoch, has been elected to the board of directors of the leading Swiss exhibitions group, MCH.

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How Swiss staycationers are scouting out your next alpine getaway

2020-08-03

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2020-08-03

Let’s dispose of the bad news right from the start. If you’re reading this and don’t live in Europe, chances are you’re not going to make it to Switzerland this year. Now for the good news. 

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Temporary employee sector hit hard by Covid-19 crisis

2020-07-30

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2020-07-30

The number of hours worked by temporary employees in Switzerland has dropped by about 23% due to the impact of restrictions imposed in the wake of the Covid-19 pandemic.

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Swiss care homes and hospitals charged for mouldy masks

2020-07-28

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2020-07-28

Expired, foul-smelling masks cost nearly a franc apiece for facilities in canton Bern at the start of the coronavirus crisis. As a healthcare worker told Swiss public radio, SRF, on Monday, some of the masks they had received earlier this year had to be recalled because they were covered in mildew.

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Swiss business raided over Fiat-Iveco ‘Dieselgate’ probe

2020-07-26

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2020-07-26

Investigators have searched offices of car giant Fiat Chrysler and truck maker CNH Industrial in Switzerland, Germany and Italy as part of a German-led probe into suspected illegal manipulation of diesel emissions.

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Swiss humanitarian trade deal with Iran faces delay, questions 

2020-07-25

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2020-07-25

Swiss “good offices” between Tehran and Washington have brought about a humanitarian aid channel allowing Swiss-based companies to send medicines and other vital goods to Iran despite US sanctions. But it remains to be seen to what extent the now-delayed deal will help the Iranian people versus Swiss political and economic interests. 

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SWISS to speed up airfare refunds

2020-07-24

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2020-07-24

Swiss International Air Lines (SWISS) plans to speed up the refund process for airline tickets purchased via travel agencies affected by the coronavirus pandemic.

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