Category Archive: 3.) Swissinfo Business and Economy

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Novartis job cuts to heavily impact management roles

2022-08-26

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2022-08-26

Of the 1,400 job cuts announced by the pharma giant in Switzerland, up to half of them will involve staff in leadership positions, the company said on Monday. For these executive roles, the consultation process has been finalised, and the first individuals concerned will be informed “in the coming weeks”, said the head of Novartis Switzerland Matthias Leuenberger at a media event in Zurich.

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Zurich airport bounces back to profit after pandemic

2022-08-25

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2022-08-25

Switzerland’s busiest airport has posted a CHF55 million ($57 million) net profit for the first six months of the year as post-pandemic air travel picks up.

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Switzerland banks on hydropower reserve to combat energy crunch

2022-08-25

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2022-08-25

The Swiss Federal Electricity Commission (Elcom) has laid out plans to hold back hydropower reserves to help compensate for anticipated energy shortages this winter.

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Concerns raised over looming energy shortage

2022-08-24

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2022-08-24

Leading voices from business and politics have called on the Swiss government – and in particular economy minister Guy Parmelin – to do more about possible energy and gas shortages over the winter.

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Swiss minister urges calm over energy shortage fears

2022-08-24

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2022-08-24

The threat of energy shortages in Switzerland this winter should not be over-dramatised, Economics Minister Guy Parmelin has said in response to growing calls at the weekend for government action.

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Developer invests CH170 million in new Swiss tourist resort

2022-08-23

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2022-08-23

The Andermatt Swiss Alps (ASA) company, majority owned by Egyptian financier Samih Sawiris, is to build a new 1,800-bed Alpine resort in the Sedrun region in southeast Switzerland.

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Swiss prepare for energy shortage ‘extreme scenarios’

2022-08-22

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2022-08-22

The Swiss government and cantons are aiming to be prepared for “extreme scenarios” in the face of possible energy shortages this winter, a top cantonal security official says. For example, a power grid shutdown or blackout would have far-reaching consequences, Fredy Fässler, the president of the Conference of Cantonal Justice and Police Directors, said in an interview published in the tabloid Blick on Saturday.

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Poll finds early support for pension reform and eco-friendly farming

2022-08-19

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2022-08-19

Despite leading in latest polls, a proposed ban on factory farming in Switzerland has limited chances of success at the ballot box next month, pollsters say. A reform of the old age pension scheme enjoys more solid backing. 

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Credit Suisse pursues legal claim against SoftBank in $440m dispute

2022-08-15

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2022-08-15

Credit Suisse Group applied to the English High Court last week to initiate formal legal proceedings against Japan’s SoftBank Group Corp over a $440 million (CHF414 million) dispute, according to the Financial Times.

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Solar power plant to be built on Lake Lei dam

2022-08-14

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2022-08-14

A large alpine solar power plant is to be installed on the dam wall of Lake Lei near Ferrera in southeastern Switzerland. The 1,800 square-metre plant is being built by the Zurich Electricity Company. Located at an altitude of 1,930 metres, the plant will comprise more than 1,000 solar units with a total output of 350 kilowatts, equivalent to the consumption of 160 households.

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Cassis discusses finance and innovation with UAE minister

2022-08-13

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2022-08-13

Swiss Foreign Minister Ignazio Cassis has met the foreign minister of the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan, in Ticino, southern Switzerland. The working lunch on the Brissago Islands in Lake Maggiore focused on the economy and finance, education, research and innovation, and sustainable development, the foreign ministry said in a statement on Thursday.

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Episode 3: The Golden ticket

2022-08-12

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In our satirical video format, Swiss comedian and director Patrick Karpiczenko apologises for Switzerland’s transgressions – this time for so-called golden visas that have been given freely to Russian oligarchs.

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From high street to metaverse: finance embraces ‘bank killer’ technology

2022-08-12

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2022-08-12

A bank client attaches her ‘non-fungible token’ personal identity to a digital wallet, containing both traditional money and cryptocurrencies, and accesses decentralised financial investments via the metaverse.

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Hackers to put latest Swiss e-voting software to the test

2022-08-11

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2022-08-11

The Swiss Post’s e-vote system is opening itself to attacks by ethical hackers in an effort to weed out security flaws. The window for the test runs until September 2, during which time hackers will be able to launch attacks on the source code under realistic conditions, Swiss Post said on Monday.

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How Covid changed Swiss democracy

2022-08-09

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In April 2020, with the arrival of Covid-19, political analyst Martina Mousson expressed concerns about the curtailment of parliament and political rights in Switzerland. Two years on, she is visibly more relaxed about things.

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Crystal hunters in the Swiss Alps

2022-08-05

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Archaeologists are looking for crystals in the Swiss Alps as these are clues to how Stone Age craftspeople lived. Fragments of crystals can indicate how and where tools were made. Check out the full article on our website: http://www.swissinfo.ch/eng/sci-tech/in-pursuit-of-the-crystal-hunters/47669880 --- SWI swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide...

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Watchdog extends protective measures at Sberbank Switzerland

2022-08-05

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2022-08-05

The Swiss financial regulator (FINMA) has extended previously imposed protective measures at the Zurich-based subsidiary of Russian bank Sberbank.

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Cash payments lose further ground, poll finds

2022-08-04

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2022-08-04

A new survey has confirmed a growing role of debit and credit cards as popular payment method in Switzerland. Some 52% of respondents in a survey said either of the cards were absolutely indispensable for them, the independent online comparison service, moneyland.ch, said.

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Europe energy woes raise concerns in Switzerland

2022-08-03

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2022-08-03

The energy crisis in Europe continues to make headlines in Switzerland. This was reflected in the Sunday press which focused on German pressure on Switzerland to implement a gas saving plan, a petition to speed up hydroelectric projects and a spike in Swiss demand for electric heaters in anticipation of a difficult winter.

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The Swiss army: your questions answered Part 7

2022-08-02

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In Switzerland, all able-bodied men complete compulsory military service, while others opt for a civilian service. But how useful is a conscript army in light of what Russia did to Ukraine? This is one of many questions SWI readers sent to us. Daniel Reist, head of media relations for the Swiss armed forces, takes a shot at answering them. Our seventh question and the last in our series is: why are women not conscripted in Switzerland? ---...

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