Category Archive: 3.) Swissinfo Business and Economy

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Swiss businesses and start-ups set record in 2019

2020-01-25

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2020-01-25

Entrepreneurs are thriving in Switzerland, with a record number of companies launched in 2019 and unprecedented investment pumped into start-ups. Switzerland saw 44,482 companies founded last year, the highest number to date and a 3% increase on 2018, according to the Swiss Official Gazette of Commerce. Investments in start-ups also grew strongly in 2019, topping CHF2 billion ($2.06 billion) for the first time.

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Swiss watchdog bans former bank CEO over insider trading

2020-01-24

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2020-01-24

The Swiss Financial Market Supervisory Authority (FINMA) has banned the former chief executive officer of a Swiss bank from financial activities over a “serious case of insider trading”. FINMA also ordered the confiscation of CHF730,000 ($752,000) of “unlawfully generated profits” from the ex-CEO, whom FINMA did not name.

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Switzerland remains world’s most attractive country for skilled workers

2020-01-24

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2020-01-24

Switzerland continues to lead the world in talent competitiveness, having held the number one spot since the annual Global Talent Competitiveness Index (GTCI) was launched in 2013. According to the 2020 indexexternal link, the three main reasons for Switzerland’s top position are the country’s high quality of life (interesting jobs, high salaries and good career opportunities), its dual education system which combines education with vocational...

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Swiss firms lauded for climate protection measures

2020-01-22

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2020-01-22

Nestlé, Givaudan, Panalpina and the Bern Cantonal Bank are among 179 companies given a top “A” rating in a global survey of transparency and action on climate change. On Monday, non-profit group Carbon Disclosure Project (CDP) published its study of 8,000 companies worldwide. Only 2% of them made it onto the A-list, the organisation said.

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Neon banking app slashes fees in growth drive

2020-01-22

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2020-01-22

Swiss financial services company Neon says it will scrap card fees for customers shopping abroad to spearhead an ambitious drive to boost the number of clients to 250,000 in the next two years. The Zurich-based fintech company has laid down a challenge to foreign competitors, such as Revolut and N26, with its announcement.

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Davos 2020: What to watch for at this year’s World Economic Forum

2020-01-21

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2020-01-21

World leaders, chief executives, thinkers and celebrities are gathering in the Swiss mountain town of Davos for the World Economic Forum’s annual meeting. The event, which begins on Tuesday, has earned a reputation for high-altitude pontificating as the global elite gather to pitch their takes on topics picked by WEF founder Klaus Schwab, from deglobalisation to the fourth industrial revolution.

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How Zurich Airport prepares for Trump visit to Davos

2020-01-20

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2020-01-20

American secret service agents have been granted access to Zurich Airport’s control tower as they prepare for US President Donald Trump’s visit to the World Economic Forum (WEF) in Davos, the NZZ am Sonntag reports. WEF, which starts in the Swiss mountain resort on Monday, attracts wealthy, high-profile business and political figures, along with academics and other leaders of society.

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‘Yes to an initiative promoting moderately-priced housing’

2020-01-17

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2020-01-17

The free market in Switzerland has built housing units that remain empty because they are too expensive, or in out-of-the-way places, says Marina Carobbio Guscetti. The Social Democrat senator believes that the initiative "More affordable housing" will fix these problems. It will help the middle class and the less well-off.

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Swiss franc climbs after US adds it to ‘manipulation’ watchlist

2020-01-16

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2020-01-16

The US Treasury has called on the Swiss government to cut taxes and spend more public money, after it added the country to a watchlist of those it accuses of currency manipulation. The Swiss franc nudged up to a near three-year high against the euro on Tuesday as markets anticipated the move would limit the Swiss National Bank’s appetite for aggressive action to try to hold down its currency in future.

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US places Switzerland on trade ‘watch list’

2020-01-15

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2020-01-15

The US Treasury Department has put Switzerland back on a biannual list of countries that are under observation because of large trade surpluses with the United States. Switzerland was previously included on the Monitoring List between October 2016 and October 2018, “having a material current account surplus and engaged in persistent, one-sided intervention in the foreign exchange market”.

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Signatures collected for vote on tax deduction for parents

2020-01-15

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2020-01-15

Opponents of a proposal to increase tax deductions for parents have succeeded in collecting enough signatures to force a referendum on the subject. On Tuesday the leftwing Social Democratic Party submitted the necessary signatures required to trigger a referendum. The party is opposed to a “tax bonus for rich parents” and collected 60,000 signatures in two-and-a-half months to force a nationwide vote on the reform, approved by...

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Swiss researchers identify means to reduce risk of man-made earthquakes

2020-01-14

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2020-01-14

Identifying the kind of fault or tectonic forces in an underground reservoir can reduce the risk of tremors caused by geothermal energy or carbon storage. The injection of cold pressurised water into hot impermeable rocks several kilometres underground is how underground reservoirs are created for geothermal energy.

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Swiss unemployment drops to new low 

2020-01-12

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2020-01-12

The Swiss unemployment rate fell to 2.3% in 2019, according to the State Secretariat for Economic Affairs (SECO). That’s the lowest yearly rate for almost 20 years. SECO said in a statementexternal link on Friday that 106,932 people were registered with regional job centres in 2019, 9.5% less than in the previous year.

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Trump to attend World Economic Forum in Switzerland

2020-01-11

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2020-01-11

US President Donald Trump plans to attend the annual meeting of the World Economic Forum (WEF) in the Swiss mountain resort of Davos this month, making up for an appearance he cancelled during last year’s US government shutdown. White House press secretary Stephanie Grisham confirmed on Wednesday that Trump would attend the annual forum, which attracts wealthy, high-profile business and political figures, along with academics and other leaders of...

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Swiss unions call for ‘social agenda’ in EU relations

2020-01-10

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2020-01-10

Switzerland’s largest trade union group has repeated its warning that any framework deal reached with the European Union must respect measures to protect wages from cross-border competition. At the annual conference of the Swiss Trade Union Federation on Thursday, the objective of keeping wage measures in place was hammered home by group president Pierre-Yves Maillard.

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‘Farting archaeobacteria’ awarded Swiss energy prize

2020-01-10

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2020-01-10

Flatulent bacteria, electric vehicles and a supply network for greenhouses are among the winners of this year’s Watt d’Or competition organised by the Federal Office of Energy. “What is the link between flatulence and renewable energy?” the energy office asked. “The answer is Archie, the farting archaeobacteria.”

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Swiss National Bank expects profit of CHF49 billion for 2019

2020-01-09

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2020-01-09

The Swiss National Bank (SNB) expects to post an annual profit of CHF49 billion ($50.29 billion) for 2019, it said on Thursday, citing big gains from foreign bonds and stocks bought to dampen the value of the safe-haven Swiss franc. The profit, following a loss of CHF15 billion in 2018, means the central bank will pay out CHF2 billion to the Swiss government and cantons for last year and will hold discussions with the finance ministry on a possible...

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Swiss rents fall but property prices increase in 2019

2020-01-08

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2020-01-08

Rents in Switzerland fell by an average of 0.5% last year but some regions bucked the trend. Last year was a good one for tenants, according to the Swiss Real Estate Offer Indexexternal link, which was published on Tuesday. December alone saw rents dropping 0.4% on average. The most significant drops were in central Switzerland (-1.7%), the Lake Geneva region (-1.1%) and northwestern Switzerland (-0.9%).

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Swatch offers compromise in watch movements deadlock

2020-01-06

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2020-01-06

Switzerland’s largest watch maker, Swatch, says it will limit the number of movements it makes for the industry in a bid to end a long-running stand-off with the anti-trust regulator. At the end of last year, the Competition Commission (Comco) temporarily suspended deliveries of watch movements from Swatch’s ETA unit to big rivals from January 1, 2020.

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Revolutionary idea to store green power for the grid

2020-01-05

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2020-01-05

Stacking blocks of concrete with a crane to store energy and use the force of gravity to keep producing electricity when renewable sources are lacking: simple but revolutionary, the battery solution proposed by the Ticino start-up Energy Vault is attracting investors and customers from around the world.

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