Category Archive: 3.) Swissinfo Business and Economy

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Swiss running low on butter

2020-04-25

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2020-04-25

A shortage of frozen butter in Switzerland has the industry wanting to import 1,000 tons. Dairy farmers disagree. On Thursday an umbrella group for the dairy sector announced that it had applied to the federal authorities for permission to import 1,000 tons of butter.

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Switzerland facing biggest economic slump since 1975

2020-04-24

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2020-04-24

In a revised forecast in the wake of the coronavirus pandemic, federal authorities predict GDP will contract by 6.7% in 2020 and recover slowly in 2021. On Thursday, the State Secretariat for Economic Affairs (SECO) announced that it had adjusted 2020 economic forecasts to take into account sporting events affected by the pandemic.

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How Swiss drones and robots are changing farming

2020-04-23

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2020-04-23

Remote sensing, big data, artificial intelligence and robotics are being integrated into everyday farm management. Based on information relayed by a Swiss start-up, the owner of a sugar mill in India tells local cane farmers it’s almost time to harvest their crop.

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Is Venezuela’s gold a liability for Switzerland?

2020-04-21

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2020-04-21

Venezuela is illegally mining and trading in gold, and Switzerland could be one of its clients, according to Swiss media reports. swissinfo.ch spoke to law enforcement, customs and financial authorities to find out whether they are taking action.

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Coronavirus called a ‘decisive test’ for the UN system  

2020-04-20

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2020-04-20

The pandemic is testing the limits of the United Nations system, say Geneva and New York-based experts, amid funding challenges and an ongoing blame game between the United States and China. The UN is marking its 75th anniversaryexternal link this year. What could have been a year of celebration is becoming a year of crisis.

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Surviving Covid-19: the Swiss economy’s strengths and weaknesses

2020-04-20

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2020-04-20

The current pandemic will plunge the world economy into recession, at least in the first part of the year. What tools does Switzerland have to minimise the economic and social damage of this crisis? And what factors could jeopardise the prospects for an economic recovery?

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Digital grassroots response to government bailouts

2020-04-19

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2020-04-19

The CHF60 billion Swiss state bailout of companies is well underway. But there is a feeling that government funds that hand out loans and pay workers’ wages will not be enough. How do companies maintain contact with customers and develop their brands during a lockdown?

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Interest groups present demands for coronavirus exit plans

2020-04-18

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2020-04-18

Political parties, trade unions and other interest groups have published their proposals for the government to relax restrictions introduced to stem the Covid-19 pandemic. The calls come a day ahead of the government’s decision on a nationwide coronavirus exit strategy, notably a staggered resumption of business activities and the reopening of schools.

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More high-profile brands desert the Baselworld fair

2020-04-17

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2020-04-17

Rolex, Patek Philippe and Chanel will not exhibit at the Baselworld watch and jewellery trade show in 2021. The announcement marks another blow to the event, which has already seen high-profile exits, including by the Swatch Group.

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Pandemic takes a heavy toll on consumer confidence 

2020-04-17

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2020-04-17

Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO). The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s.

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Covid-19 therapy could come by end of year, vaccine in 2021

2020-04-16

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2020-04-16

Swiss pharma and business insiders predict that an effective drug therapy against Covid-19 will be available by the end of this year, but a vaccine might take a year longer than that. “In the best-case scenario, a drug could be available before the end of 2020,” said on Monday Francesco De Rubertis, director and co-founder of Medicxi, a Geneva-based venture capital company that invests in biotechnology.

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Ranking finds Swiss cities less expensive

2020-04-15

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2020-04-15

Zurich and Geneva are still among the world’s ten most expensive cities, but both have slid down the rankings since last year. The full effect of the coronavirus crisis remains to be seen. In the Economist Intelligence Unit’s annual report comparing the cost of living in cities around the world, Zurich is tied for 5th place with Paris; in 2019 it ranked 4th.

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One fifth of pupils ‘falling though remote learning net’

2020-04-14

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2020-04-14

There is a big difference in the amount of time pupils are spending at their studies during the corona school closures, a Swiss-led study has found. Some children are doing five or more hours a day, others just one or two.

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Cradle of agriculture in the Amazon region much older

2020-04-13

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2020-04-13

People began growing manioc and squash much earlier than previously thought, a team of researchers led by the Swiss university of Bern has found. A study shows that the earliest human inhabitants of Moxos plains began transforming the tropical savanna eco-region in Bolivia 10,000 years ago, that is 8,000 earlier than previously thought.

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New debt relief measures on the horizon for struggling firms

2020-04-12

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2020-04-12

The Swiss government is examining plans to stave off bankruptcies of companies struggling with the fallout of the coronavirus crisis. But regular debt collection procedures will resume on April 20. Justice Minster Karin Keller-Sutter said the aim was to stabilise the economy and to secure jobs.

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Swiss banks bow to pressure to delay half of dividend payments

2020-04-11

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2020-04-11

Switzerland’s two largest banks, UBS and Credit Suisse, have asked shareholders to accept a delay of several months for half of their dividend payments this year. The move follows a request from the financial regulator to hold on to more cash during the coronavirus pandemic.

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Swiss economy could lose up to CHF35 billion to pandemic

2020-04-10

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2020-04-10

Coronavirus will cost the Swiss economy CHF22 billion ($22.7 billion) in lost productivity in the best-case scenario, economists have warned. Losses could easily mount up to CHF35 billion between March and June. A nationwide lockdown of non-essential high street shops and services has been accompanied by partial closures of industrial plants in some cantons.

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Swiss firm helps reduce shortage of disinfectant in Bavaria

2020-04-09

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2020-04-09

The Swiss chemical company Clariant has started monthly production of two million litres of disinfectant at its facilities in neighbouring Germany amid the coronavirus pandemic. In a joint venture with Germany’s CropEnergies, Clariant is using its available infrastructure in Bavaria to blend the necessary ingredients, notably ethanol, into disinfectant, the Swiss company said.

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Emergency funding made available for artists and designers

2020-04-08

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2020-04-08

People who work in the cultural sector in Switzerland can now apply for funds to cushion the impact of the Covid-19 pandemic. The Swiss government last month adopted a package of measures totalling CHF280 million ($287 million).

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Government urged to do more to help companies

2020-04-07

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2020-04-07

The Swiss government should scale up its efforts to help businesses overcome the coronavirus crisis, according to the director of the KOF Swiss Economic Institute. Transport companies are also calling for more assistance.

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