Category Archive: 3.) Swissinfo Business and Economy
How Swiss staycationers are scouting out your next alpine getaway
Let’s dispose of the bad news right from the start. If you’re reading this and don’t live in Europe, chances are you’re not going to make it to Switzerland this year. Now for the good news.
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Temporary employee sector hit hard by Covid-19 crisis
The number of hours worked by temporary employees in Switzerland has dropped by about 23% due to the impact of restrictions imposed in the wake of the Covid-19 pandemic.
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Swiss care homes and hospitals charged for mouldy masks
Expired, foul-smelling masks cost nearly a franc apiece for facilities in canton Bern at the start of the coronavirus crisis. As a healthcare worker told Swiss public radio, SRF, on Monday, some of the masks they had received earlier this year had to be recalled because they were covered in mildew.
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Swiss business raided over Fiat-Iveco ‘Dieselgate’ probe
Investigators have searched offices of car giant Fiat Chrysler and truck maker CNH Industrial in Switzerland, Germany and Italy as part of a German-led probe into suspected illegal manipulation of diesel emissions.
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Swiss humanitarian trade deal with Iran faces delay, questions
Swiss “good offices” between Tehran and Washington have brought about a humanitarian aid channel allowing Swiss-based companies to send medicines and other vital goods to Iran despite US sanctions. But it remains to be seen to what extent the now-delayed deal will help the Iranian people versus Swiss political and economic interests.
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SWISS to speed up airfare refunds
Swiss International Air Lines (SWISS) plans to speed up the refund process for airline tickets purchased via travel agencies affected by the coronavirus pandemic.
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Group challenges law behind Covid-19 tracing app
A committee has launched a referendum against changes made to the Epidemics Act to allow the introduction of the SwissCovid tracing app. The citizens say they’re concerned about data security.
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Swiss banks eye Hong Kong clients for pro-democracy ties
Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter.
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Mandatory masks well accepted on Swiss public transport
Passengers on Swiss trams, buses, and trains have adapted well since a rule requiring face masks was introduced a fortnight ago. However, boat operating companies say they are losing business.
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Embattled Swiss watch industry targets mainland China
The absence of tourists due to Covid-19 will have significant negative repercussions on the Swiss watch industry. In an attempt to make up for this loss of income, manufacturers are focusing their activities more on mainland China as well as easing off the bling.
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Biggest Swiss-based arms manufacturers revealed
Exporting arms is big business for Switzerland, but who are the actual manufacturers and exporters? After a five-year legal dispute, names can finally be published. Swiss companies exported CHF501 million ($530 million) in war materiel in the first half of 2020, the State Secretariat for Economic Affairs (SECO) said on Tuesday, almost twice as much as the same period in 2019.
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Swiss Solidarity raises CHF40 million for most vulnerable affected by Covid-19
The humanitarian charity Swiss Solidarity is helping over 100 groups to provide emergency assistance to the elderly, the homeless and other vulnerable people who have been struggling in Switzerland during the coronavirus pandemic.
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Report alleges targeting of Swiss-based Catalan separatist’s phone
The telephone of Anna Gabriel, a leading figure of the separatist movement in Catalonia who has sought refuge in Geneva, has been reportedly targeted by a “possible case of domestic political espionage”, according to a news investigation.
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Swatch hopes for sales to pick up quickly after pandemic slump
Swatch Group said it expected sales and profits to improve quickly in the months ahead after the coronavirus pandemic caused a “massive decline” in business for the first half of the year.
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Switzerland a leader in 3D printing technology, patent records show
In relation to its population size, between 2010 and 2018 Switzerland filed more patent applications for 3D printing technologies than any other European country, the European Patent Office said on Monday.
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Julius Baer to offer private equity to ultra-wealthy clients
Julius Baer has poached a senior executive from rival Swiss wealth manager UBS to set up a new division offering private equity and debt investments to its ultra-wealthy clients. The move illustrates how a prolonged period of low interest rates has forced the likes of UBS and Credit Suisse to prioritise offering illiquid private investments to their super-rich clients, who agree to forgo access to their capital in the hope of achieving higher...
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Doubts over EU regulations deal raise prospect of higher City costs
On a Monday morning, just over a year ago, investment firms across the EU found they were no longer allowed to trade on the Swiss stock exchange. It happened almost overnight — simply because Brussels refused to extend a regulatory “equivalence” deal with Switzerland, which gave each side free access to the other’s markets.
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Credit Suisse settles U.S. shareholder lawsuit
Major Swiss bank Credit Suisse has agreed to pay $15.5 million (CHF14.6 million) to settle a dispute with shareholders in the United States, according to court filings on Friday.
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Tour group blames coronavirus for 70 Swiss job cuts
German tour operator TUI is to close eight of its 62 branches in Switzerland with the loss of around 70 jobs, owing to the effects of the coronavirus crisis.
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Inside Geneva: World trade at a crossroads
In this episode of our Inside Geneva podcast, we look at the role of the World Trade Organization as it chooses a new leader amid challenging times.
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