Category Archive: 3.) Swissinfo Business and Economy

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Group challenges law behind Covid-19 tracing app

2020-07-23

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2020-07-23

A committee has launched a referendum against changes made to the Epidemics Act to allow the introduction of the SwissCovid tracing app. The citizens say they’re concerned about data security.

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Swiss banks eye Hong Kong clients for pro-democracy ties

2020-07-22

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2020-07-22

Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter.

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Mandatory masks well accepted on Swiss public transport

2020-07-21

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2020-07-21

Passengers on Swiss trams, buses, and trains have adapted well since a rule requiring face masks was introduced a fortnight ago. However, boat operating companies say they are losing business.

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Embattled Swiss watch industry targets mainland China

2020-07-19

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2020-07-19

The absence of tourists due to Covid-19 will have significant negative repercussions on the Swiss watch industry. In an attempt to make up for this loss of income, manufacturers are focusing their activities more on mainland China as well as easing off the bling.

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Biggest Swiss-based arms manufacturers revealed

2020-07-18

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2020-07-18

Exporting arms is big business for Switzerland, but who are the actual manufacturers and exporters? After a five-year legal dispute, names can finally be published. Swiss companies exported CHF501 million ($530 million) in war materiel in the first half of 2020, the State Secretariat for Economic Affairs (SECO) said on Tuesday, almost twice as much as the same period in 2019.

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Swiss Solidarity raises CHF40 million for most vulnerable affected by Covid-19

2020-07-18

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2020-07-18

The humanitarian charity Swiss Solidarity is helping over 100 groups to provide emergency assistance to the elderly, the homeless and other vulnerable people who have been struggling in Switzerland during the coronavirus pandemic.

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Report alleges targeting of Swiss-based Catalan separatist’s phone

2020-07-17

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2020-07-17

The telephone of Anna Gabriel, a leading figure of the separatist movement in Catalonia who has sought refuge in Geneva, has been reportedly targeted by a “possible case of domestic political espionage”, according to a news investigation.

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Swatch hopes for sales to pick up quickly after pandemic slump

2020-07-16

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2020-07-16

Swatch Group said it expected sales and profits to improve quickly in the months ahead after the coronavirus pandemic caused a “massive decline” in business for the first half of the year.

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Switzerland a leader in 3D printing technology, patent records show

2020-07-15

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2020-07-15

In relation to its population size, between 2010 and 2018 Switzerland filed more patent applications for 3D printing technologies than any other European country, the European Patent Office said on Monday.

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Julius Baer to offer private equity to ultra-wealthy clients

2020-07-14

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2020-07-14

Julius Baer has poached a senior executive from rival Swiss wealth manager UBS to set up a new division offering private equity and debt investments to its ultra-wealthy clients. The move illustrates how a prolonged period of low interest rates has forced the likes of UBS and Credit Suisse to prioritise offering illiquid private investments to their super-rich clients, who agree to forgo access to their capital in the hope of achieving higher...

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Doubts over EU regulations deal raise prospect of higher City costs

2020-07-14

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2020-07-14

On a Monday morning, just over a year ago, investment firms across the EU found they were no longer allowed to trade on the Swiss stock exchange. It happened almost overnight — simply because Brussels refused to extend a regulatory “equivalence” deal with Switzerland, which gave each side free access to the other’s markets.

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Credit Suisse settles U.S. shareholder lawsuit 

2020-07-13

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2020-07-13

Major Swiss bank Credit Suisse has agreed to pay $15.5 million (CHF14.6 million) to settle a dispute with shareholders in the United States, according to court filings on Friday.

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Tour group blames coronavirus for 70 Swiss job cuts 

2020-07-10

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2020-07-10

German tour operator TUI is to close eight of its 62 branches in Switzerland with the loss of around 70 jobs, owing to the effects of the coronavirus crisis.

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Inside Geneva: World trade at a crossroads

2020-07-09

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2020-07-09

In this episode of our Inside Geneva podcast, we look at the role of the World Trade Organization as it chooses a new leader amid challenging times. 

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New Geneva platform to ‘anticipate societal changes’ 

2020-07-09

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2020-07-09

A new international platform is to be launched in Geneva to anticipate the effects of societal changes amidst the Covid-19 crisis, Swiss President Simonetta Sommaruga said on Wednesday. 

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Travel destinations seek tourists, but not the crowds

2020-07-08

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2020-07-08

Some popular travel destinations have enjoyed the break – however temporary – from tourist crowds following Covid-19 restrictions. Others hope the hordes will return soon. Switzerland had not yet opened its border with Italy when its southern neighbour unexpectedly announced that Swiss citizens could enter the country starting on June 3.

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Motorway station supplier goes into liquidation

2020-07-07

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2020-07-07

A company that supplies Swiss motorway service stations and convenience stores has gone into liquidation after failing to find new investors. Some 144 jobs at Lekkerland Switzerland are now at risk of disappearing by the end of the year.

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Swiss sustainable finance: world leader or wishful thinking?

2020-07-06

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2020-07-06

The Swiss financial centre wants to take a lead in ethical investing. NGOs, however, fear the banks are more interested in cashing in than saving the planet. One thing everyone agrees on is the need for a universal definition of sustainable finance and measures to oversee the sector.

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New cars on Swiss roads failed to meet emissions targets

2020-07-05

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2020-07-05

Fuel consumption and emissions limits for new cars in Switzerland missed their target in 2019 for the fourth year in a row. This resulted in sanctions totalling CHF78 million for car importers.

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Novartis pays big fine for bribing doctors in the US

2020-07-04

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2020-07-04

Swiss pharma company Novartis will pay $729 million (CHF688 million) to US authorities in an out-of-court settlement over various charges, including that the company bribed doctors to use its drugs.

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