Category Archive: 3.) Swissinfo Business and Economy

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What remains of Swiss democracy after the coronavirus measures?

2020-09-15

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On March 16 the Swiss government declared an “extraordinary situation” due to coronavirus. People had to stay at home for two months. The spring session of parliament was cancelled. The May referendum was postponed. The government ruled alone by emergency decree. Where does that leave direct democracy? Martina Mousson*, a political scientist from the gfs.bern research institute, is familiar with psychological phenomena in times of crisis. After...

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Swiss Tourism Industry demands new Covid-19 Quarantine Regime

2020-09-14

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2020-09-14

Swiss Tourism Industry
Foreign visitors from Covid-19 high risk countries should be able to travel to Switzerland with negative corona tests and not have to go into quarantine, say tourism officials. Under Swiss regulations, anyone entering Switzerland from one of the high risk coronavirus countries on a list regularly updated by the Federal Office of Public Health must go into quarantine for ten days to help curb the spread of Covid-19, or risk a fine.

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Credit Suisse makes digital push as it closes down branches

2020-09-14

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2020-09-14

Credit Suisse is taking on so-called challenger banks with a new digital service for customers, including a debit card with no foreign transaction fees. The bank is closing down branches across Switzerland and is converting others into a “digital bar” concept.

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No wave of coronavirus bankruptcies so far, study finds 

2020-09-13

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2020-09-13

Government credits and employment support measures have helped stave off a wave of bankruptcies, but they could rise over the longer term, says a survey. 

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Swiss-UK financial services pact antidote to EU intransigence

2020-09-12

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2020-09-12

Switzerland and Britain are thrashing out a post-Brexit financial services treaty that is being billed as a global standard for common sense. It also takes aim at perceived EU inflexibility that has seen the Swiss stock market frozen out of European markets.

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Pandemic speeds up push to digital as bank branches close

2020-09-11

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2020-09-11

Swiss lender Credit Suisse is set to launch an overhaul of its digital banking offering, as it uses the coronavirus crisis as a springboard to accelerate the push from bricks-and-mortar branches to online services.

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Valcambi refinery denies sourcing ‘dirty’ gold from Dubai

2020-09-10

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2020-09-10

The Swiss-based Valcambi refinery has rejected accusations about gold dealings with a controversial company in the United Arab Emirates.

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Switzerland takes Belgium and Mexico off Covid-19 ‘high risk’ list

2020-09-09

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2020-09-09

People arriving in Switzerland from Belgium, Mexico and Luxembourg will no longer have to go into quarantine for ten days.

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Rights activists want Swiss-Chinese trade deal to be overhauled

2020-09-08

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2020-09-08

Campaigners are urging the Swiss government to renegotiate a six-year-old free trade agreement with China to try to improve human rights and labour conditions for its Uighur Muslim minority.

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Ceneri Base Tunnel is officially open

2020-09-07

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2020-09-07

The Ceneri Base Tunnel has been officially opened, with the first freight train passing through the tunnel in the southern Swiss canton of Ticino shortly after 11:30am. Passengers will have to wait for the new national rail timetable in December.

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Swiss regulator escalates probe into Credit Suisse

2020-09-06

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2020-09-06

The Swiss financial supervisor FINMA says it has opened enforcement proceedings against Credit Suisse into the 2019 spying affair that toppled the bank’s leadership and tarnished its reputation.

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Government exempts high-emission cars from Swiss climate goals

2020-09-05

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2020-09-05

The Swiss government is easing the pressure on the automotive industry to reduce CO2 emissions, reports Sunday newspaper Le Matin Dimanche.

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Chinese-owned Swissport agrees emergency takeover

2020-09-04

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2020-09-04

A consortium of investors has agreed a €800 million (CHF860 million) bailout of Chinese-owned airport services company Swissport. Revenues at the company have nosedived since the onset of the coronavirus pandemic.

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Geneva Airport expects 23 percent fewer passengers in 2021

2020-09-03

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2020-09-03

Geneva Airport officials say the shockwaves of the Covid-19 pandemic will reverberate into next year, with the number of passengers flying to and from the airport expected to be down by almost a quarter compared with pre-coronavirus levels, according to Swiss public radio, RTS.

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Trading platforms profit from pandemic chaos

2020-09-02

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2020-09-02

While Covid-19 has been wreaking havoc on the economy, many banks and trading platforms have recorded bumper results. Profits were boosted by elevated trading activity, but future prospects are mixed depending on the type of financial player.

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Time travelling in Basel

2020-09-01

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Why is the northern city of Basel described as Switzerland's cultural capital and how come the pharmaceutical industry started there? A new book called ‘Leaps in Time’ takes us on a journey down the centuries, introduces reformers, humanists, artists, plague doctors and the powerful tradesmen who ousted the aristocracy. From the first settlement at the time of the Celts, it grew into Switzerland’s third most populous city. It’s known for its...

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Swiss PostBus faces lawsuit in Liechtenstein

2020-09-01

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2020-09-01

Liechtenstein transport companies are claiming CHF35 million ($38.7 million) in damages against Switzerland’s state-owned PostBus over alleged unfair business practices.

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Swiss economist says Covid-19 ‘winners’ should pay more tax

2020-08-31

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2020-08-31

Companies that netted their best-ever earnings during the coronavirus crisis should be subject to extra tax, finds one of Switzerland’s top economists.

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Swiss Private Banks Brace for Coronavirus Impact

2020-08-29

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2020-08-29

Swiss Private banks
The Swiss private banking sector saw a resurgence in fortunes last year but faces an uncertain future as the Covid-19 pandemic continues to play havoc with financial markets. Favourable market conditions in 2019 allowed the 84 banks surveyed by KPMG to grow client assets by 14%, according to a recently published report by the audit firm.

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How I built my own Swiss watch – in a day

2020-08-28

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For fans of Swiss watches, the watchmaking world can sometimes seem like an impenetrable castle. The uninitiated rarely get the chance to observe or even touch delicate mechanical watch parts. Imagine assembling your own Swiss mechanical watch and taking it home with you at the end of the day. swissinfo.ch tried out the popular new concept run by Jura start-up Initium. heir start-up offers beginner watchmaking courses open to all ages. The firm,...

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