Category Archive: 3.) Swissinfo Business and Economy

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No business can be right in a war that’s wrong

2022-04-14

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2022-04-14

Western companies should end their business relations with Russia. It is their moral duty to contribute to peace-making by their actions, says a group of business ethicists in Switzerland and Austria.

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Upmarket Swiss hotel welcomes Ukrainian refugees

2022-04-13

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The four-star SeePark Hotel in the lakeside town of Murten in western Switzerland has opened its doors to refugees from the war in Ukraine. They get to stay for free in rooms that would normally cost more than CHF200 ($214) a night. The hotel is owned by a limited company of ethnic Russians based in western Europe. The hotel administrator, Ukrainian-born Lyudmyla Rigert, persuaded the director to help her compatriots fleeing the war. So far, 200...

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Former top Swiss banker convicted for fraud

2022-04-13

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2022-04-13

A Swiss court has sentenced former Raiffeisen bank chief Pierin Vincenz to almost four years in prison for fraud, forgery of documents and criminal mismanagement. Judges on Wednesday handed down a jail sentence of 43 months as well as a suspended fine of CHF840,000 ($899,858). Vincenz was also ordered to refund CHF236,000.

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Switzerland misses greenhouse gas reduction target

2022-04-12

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2022-04-12

Switzerland has narrowly missed its target of reducing greenhouse gas emissions by 2020 despite coronavirus lockdowns and an unusually warm winter.

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New Swiss bank pitches itself as digital, but not robotic

2022-04-09

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2022-04-09

Switzerland’s shrinking banking universe has been bolstered by a new wealth management entrant, Alpian, which is aiming for the sweet spot between digital and human-centric services. Alpian has just secured a Swiss banking license along with a CHF19 million ($20.5 million) capital boost from the Italian banking group Intesa Sanpaolo.

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Swiss consumers spend big on organic products

2022-04-08

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2022-04-08

The organic food market in Switzerland experienced slower growth in 2021 than the previous year. However, consumers are spending more than ever on organic products.

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Ukraine war no threat to Swiss banks, says financial watchdog

2022-04-07

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2022-04-07

Switzerland’s financial market supervisor FINMA says the Russian invasion of Ukraine isn’t a wide-scale threat to Swiss financial firms’ business ties to Russia.

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Ukrainian refugees can benefit Swiss economy, says expert

2022-04-06

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2022-04-06

Switzerland can cope with a large number of Ukrainian refugees, and their skills can benefit the economy, says migration expert Thomas Kessler. “The Ukrainian women will provide new impetus in this country,” he told the SonntagsBlick newspaper. “Especially in the IT sector, the Ukrainians are more advanced than Switzerland. In addition, it is normal in Ukraine for women to study natural sciences.”

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Bankruptcies rise as coronavirus bail-outs phase out

2022-04-05

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2022-04-05

The number of companies and individuals declaring bankruptcy rose 9.1% last year, which coincided with a gradual withdrawal of state-backed financial support during the Covid-19 pandemic.

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Ukraine refugees struggle to exchange cash into Swiss francs

2022-04-04

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2022-04-04

Thousands of Ukrainian refugees are finding that Swiss banks are refusing to convert the cash they brought with them into francs.

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Swiss privacy technology tackles rampant online intrusion

2022-04-03

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2022-04-03

Anyone using the internet is being watched, and possibly manipulated, via a trail of digital breadcrumbs known as metadata. Two Swiss companies, one backed by former United States military whistleblower Chelsea Manning, are setting up smokescreens to confuse prying eyes and protect web users from big tech companies and government surveillance.

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Switzerland backs European plans for joint gas storage

2022-04-02

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2022-04-02

Switzerland has signed a declaration along with six other European states in favour of pooling gas storage facilities. Switzerland, Germany, Austria, Belgium, France, Luxembourg and the Netherlands signed the declarationExternal link on Wednesday, pledging to work towards coordinating storage efforts on a regional level.

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Switzerland slaps more sanctions on Russia

2022-04-01

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2022-04-01

The Swiss government on Friday adopted additional sanctions against Russia for its ongoing war in Ukraine but did not ban the Russian state TV channels Sputnik and Russia Today like the European Union.

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The birth of modern democracy in the heart of Europe

2022-03-29

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The "Swiss Revolution" brought democracy to Switzerland. It was an uprising against the aristocracy – and the beginning of a long journey that the country could only complete with foreign help. On a spring day in 1798, Peter Ochs of Basel declared the birth of the Helvetic Republic from a balcony of the Aarau city hall. There was great rejoicing on the streets because this marked the liberation of the central territories from their...

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Most Swiss would support tougher sanctions against Russia

2022-03-29

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2022-03-29

A new poll shows that a majority of the Swiss population would be in favour of tougher sanctions against Russia for invading Ukraine, even if it results in higher energy costs in Switzerland.

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Swiss web TV channel to broadcast in Ukrainian

2022-03-28

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2022-03-28

Diaspora TV Switzerland launched a new service in Ukrainian on Sunday to help meet the information needs of refugees arriving from the war-torn country.

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Ukraine urges Switzerland to clamp down on Russian money

2022-03-28

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2022-03-28

An advisor to Ukrainian President Volodymyr Zelensky says the Swiss should be more proactive in looking for Russian funds. But according to a legal expert, current regulations do not allow authorities or banks to do more active searches beyond what’s in their current registers.

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Credit Suisse Vice Chair Schwan steps down from board

2022-03-25

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2022-03-25

Credit Suisse announced on Monday that Vice-Chair Severin Schwan would not stand for re-election. This follows a reported rebellion by large shareholder groups at the Swiss bank. “Severin Schwan, who joined the Board in 2014 and has acted as Vice-Chair and Lead Independent Director since 2017, has decided not to stand for re-election,” Credit Suisse said in a statementExternal link on Monday.

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Switzerland sounds out Qatar over gas supplies

2022-03-24

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2022-03-24

Switzerland plans to open negotiations with Qatar over the potential delivery of liquefied natural gas (LNG) supplies. The Alpine state is scouting for new energy suppliers, following the Russian invasion of Ukraine.

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What the Ukraine war means for Switzerland’s energy policy

2022-03-23

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2022-03-23

The war in Ukraine and consequent threat of energy insecurity is forcing many countries to reconsider their existing policies. The ripple effect has also reached Switzerland, which is already reassessing its gas supply for the coming winter. 

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