Category Archive: 3.) Swissinfo Business and Economy

Filter archive by: Show All Show only Articles Show only Videos

Recession is unavoidable, reckon Swiss finance bosses

2020-04-07

by

2020-04-07

The coronavirus pandemic has fundamentally changed the economic outlook for Switzerland within a very short period of time, with Swiss CFOs more pessimistic than ever before. Neither during the euro crisis nor during the Swiss franc shock were chief financial officers as negative about economic prospects as they are today, according to the latest half-yearly survey published on Monday by consultants Deloitte.

Read More »

Swiss hospitals reportedly running out of money

2020-04-06

by

2020-04-06

Cash-strapped Swiss hospitals, in the front line of the fight against coronavirus, are calling for financial help and an end to the ban on non-emergency procedures which has sapped revenue, reports the SonntagsZeitung newspaper. It quotes the director of Valais Hospital Hugo Burgener as saying “we need liquidity to pay salaries”, and writes that the Graubünden cantonal hospital will also have to raise an additional CHF20 million ($20 million) in...

Read More »

Swiss watch exports predicted to fall by 25 percent in 2020

2020-04-05

by

2020-04-05

The closure of shops caused by the spread of the coronavirus worldwide will cost Swiss watch firms dear, but exports are expected to rebound next year. “The Swiss watch industry will experience the largest decline in the past 50 years,” says a study published by private bank Vontobel on Wednesday.

Read More »

Helping people to breathe

2020-04-05

by

2020-04-05

Production has been stepped up at a company in eastern Switzerland that makes breathing machines, as health services struggle to help a growing number of coronavirus patients. Switzerland is one of the countries most affected by the virus, with more than 17,800 positive tests and more than 488 deaths.

Read More »

Around 20,000 healthcare workers seek partial unemployment benefits

2020-04-04

by

2020-04-04

With the ban on non-emergency surgeries and other procedures, some hospitals and medical practices are applying for partial unemployment support for at least 20,000 healthcare workers. On Thursday, the German language paper TagesAnzeiger reported that due to the social distancing restrictions and ban on non-urgent medical procedures in response to the Covid-19 pandemic, some doctors and other healthcare professionals don’t have enough work.

Read More »

Swiss commodities sector grapples with Covid-19 turbulence

2020-04-04

by

2020-04-04

The strategic importance of commodities and experience in handling fluctuations has helped commodity firms weather the coronavirus storm better than most. swissinfo.ch caught up with Florence Schurch, general secretary of The Swiss Trading and Shipping Association (STSA), to find out how the commodities sector is handling the crisis and what it means for Switzerland.

Read More »

Businesses reach out to people at home

2020-04-03

by

2020-04-03

While most businesses have temporarily shut down, others are starting up or finding new ways to reach the public in their homes. Some Swiss farm shops, like Thierry Miauton'sexternal link in Oleyres, canton Fribourg, are delivering local produce to people’s doorsteps, so the clients don’t have to risk possible contact with virus-contaminated shoppers in supermarkets.

Read More »

EasyJet Switzerland seeks state aid as virus empties skies

2020-04-02

by

2020-04-02

Airlines around the world are battling to survive the coronavirus pandemic. After grounding its fleet of planes on Monday, EasyJet Switzerland has confirmed that it is hoping to receive Swiss state aid. EasyJet said on Monday that it had grounded its fleet of 344 planes and had no clear idea when it might resume flights. In Switzerland, the airline normally operates flights to Geneva, Basel-Mulhouse and Zurich airports.

Read More »

Swiss real estate market suffers fallout from epidemic

2020-03-31

by

2020-03-31

The Covid-19 crisis could spell an end to the previously rosy situation for Switzerland’s real estate investors. Investors in residential property look back on a successful 2019 both in terms of value increase and of returns. Forecasts for the current year were optimistic until recently, for both property owners and renters.

Read More »

Swiss firms rush to claim emergency coronavirus loans

2020-03-31

by

2020-03-31

A third of a CHF20 billion ($21 billion) fund offering state guaranteed loans to small and medium sized Swiss companies has been used up just four days after being introduced. The loan facility has already promised CHF6.6 billion in funding of up to CHF500,000 to nearly 32,000 firms – an average of CHF207,000 per company.

Read More »

Record exports drive up Swiss chocolate sales

2020-03-30

by

2020-03-30

The value of Swiss chocolate exports topped CHF1 billion ($1.05 billion) for the first time last year, led by increased demand from Canada, the United States, China, the Middle East and Singapore. Domestic consumption of the delicacy also grew slightly following declining demand in previous years. Sales for Swiss chocolate makers rose 2.2% in 2019 to reach almost CHF1.79 billion.

Read More »

France drops blocks on face mask exports to Switzerland

2020-03-30

by

2020-03-30

After Germany, France has lifted restrictions on the delivery of hygienic face masks to Switzerland. Some two million masks are needed each day, according to the Federal Office for Public Health. The French embassy to Switzerland made the announcementexternal link on Saturday, paving the way for two shipments of FFP2 hygienic masks to go ahead from France to Switzerland.

Read More »

Coronavirus: Why staying home is merely a recommendation in Switzerland

2020-03-29

by

2020-03-29

Readers of swissinfo.ch have many questions about the way the Swiss are handling the pandemic. In this first collection of answers, we tackle social distancing measures and how the population is taking them onboard. Switzerland has progressively tightened measures aimed at limiting the spread of Covid-19 across the country.

Read More »

Companies contemplate bleak coronavirus outlook

2020-03-28

by

2020-03-28

Swiss companies are reporting slumping sales, cashflow problems and bottlenecks in the supply of crucial materials as the coronavirus crisis hits the economy. However, a survey also found that three out of four firms are satisfied with a CHF42 billion ($43 billion) state bailout package.

Read More »

Global curbs on medical exports imperil poor nations

2020-03-26

by

2020-03-26

Around 50 countries have introduced curbs on exports of medical supplies, including ventilators. This poses a major risk for poor countries, a Swiss study has revealed. The past fortnight has seen nations around the world scrambling for medical supplies and equipment to combat the fast-spreading coronavirus.

Read More »

Switzerland faces recession in 2020 due to pandemic, experts warn

2020-03-25

by

2020-03-25

Switzerland is headed towards a severe recession this year due to the economic fallout of the coronavirus, experts warn. If the pandemic is brought under control, the Swiss economy should rebound strongly in 2021.

Read More »

Big reductions in Swiss public transport services

2020-03-24

by

2020-03-24

Swiss public transport has been widely reduced as of Monday, with the Federal Railways cutting back on services as part of nationwide anti-coronavirus measures. The scaling back of Europe’s most-used rail network in an effort to combat the spread of Covid-19 was announced last week as part of wider measures to reduce social contact and slow down the pace of life in the country.

Read More »

Sygnum bank creates digital version of Swiss franc for trading

2020-03-23

by

2020-03-23

Sygnum bank has launched a digital version of the Swiss franc (DCHF) to allow faster payments when trading a new breed of securities. The DCHF digital tokens will be backed by the corresponding amount of Swiss francs that Sygnum will hold at the Swiss National Bank (SNB).

Read More »

Further billions may be needed to save Swiss companies

2020-03-23

by

2020-03-23

A CHF42 billion coronavirus financial aid package may not be enough to save firms from extinction, warn business leaders and economists. The state could be saddled with a bill three times higher if the crisis drags on until the end of the year.

Read More »

Swiss hospitals take French coronavirus patients

2020-03-23

by

2020-03-23

Three Swiss hospitals have agreed to provide intensive care treatment for six seriously ill coronavirus patients from the neighbouring Alsace region of France. However, experts fear that Switzerland’s health infrastructure will soon be stretched by the rising number of pandemic victims.

Read More »