Category Archive: 3.) Swissinfo Business and Economy

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Russian supermarket shelves are full of Nestlé products like Nescafé: report

2023-02-06

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2023-02-06

In response to Russia’s war on Ukraine, the Swiss multinational Nestlé announced that it would reduce its range of product in Russia to “essential” goods such as baby milk. But supermarket shelves in Moscow paint a different picture, according to the NZZ.

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Swisscom revises policy to boost privacy of customers

2023-02-06

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2023-02-06

Switzerland's largest telecommunications operator, Swisscom, is changing its approach to data disclosure in order better protect its customers. The operator reserves the right, after examination, to "seal" the electronic correspondence (e-mails) of its customers until a court has decided otherwise, the NZZ am Sonntag newspaper reported.

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How to access information in censored countries

2023-02-05

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2023-02-05

China, Russia, Iran and other countries with dictatorships and strict regimes are increasingly blocking access to the free internet and are using the web to collect data. This guide explains how to avoid online censorship and use the internet safely and anonymously.

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Banking secrecy exception proposed for Swiss media

2023-02-05

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2023-02-05

Swiss journalists could in future receive leaked bank data without fear of criminal prosecution if a parliamentary motion is incorporated in banking secrecy legislation.

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Will Switzerland sort out its differences with the EU in 2023?

2023-02-03

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In 2021, the Swiss government broke off negotiations with the EU on an institutional framework agreement to govern future relations. Now both sides are looking for a new path. In this video, Larissa Rhyn, a correspondent for Swiss Public Television, SRF, explains what’s at stake. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on...

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Study: solar panels only pay off in half of Swiss cities

2023-02-03

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2023-02-03

Solar panel installations are only profitable in half of Swiss cities according to a new study. This could create hurdles for the expansion of solar energy in the country.

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Switzerland looks to safeguard gas supplies for winter 2023-2024

2023-02-02

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2023-02-02

With an eye on possible shortages next winter, the government plans to repeat this year’s mitigation strategy of buying reserve stocks. The decision is a repeat of what the government already outlined in May 2022: to head off possible winter gas shortages, authorities want to ensure that the country has six terawatt hours’ worth of gas in reserve stocks in neighbouring countries.

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UBS profits rise after Credit Suisse client defections

2023-02-01

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2023-02-01

UBS enjoyed a 23% rise in pre-tax profits in the final quarter as it benefited from clients switching from rival Credit Suisse. The Swiss bank on Tuesday reported $1.7 billion (CHF1.58 billion) of net profit in the final three months of 2022, comfortably ahead of analyst estimates of $1.3 billion, bringing the group’s profit for the year to $7.6 billion.

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Colossal tax dodging: the odd case of billionaire Pierre Castel

2023-02-01

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2023-02-01

The bill comes to CHF410 million. The amount demanded by the Geneva revenue administration from French billionaire Pierre Castel has drawn the attention of the international press and made waves locally.

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Director vs dictator: The enduring relevance of Charlie Chaplin

2023-01-31

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“A bad imitation of me,” Charlie Chaplin said of Adolf Hitler, who inspired The Great Dictator, one of Chaplin’s most commercially and critically successful films. But what message does it have for audiences today? Exactly 45 years ago, on December 25, 1977, one of the most famous men in the world died in Corsier-sur-Vevey overlooking Lake Geneva: Charlie Chaplin. The British actor had lived for a quarter of a century in Switzerland, where he had...

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Ranking: Swiss public sector shows corruption and lobbying vulnerability

2023-01-31

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2023-01-31

Switzerland ranked seventh for a second year in a row in Transparency International’s Corruption Perception Index, but its overall score marks a historic low for the country. Nepotism and opaque political lobbying stand out among the Swiss public sector’s trouble spots, according to the international NGO’s Swiss chapter.

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Swiss businesses prepare for escalation with China

2023-01-30

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2023-01-30

Swiss small and medium-sized businesses (SMEs) geared to the Asian market are relocating their production to Vietnam, Thailand or India. With such a second location, companies can prepare for a possible escalation in China, according to a top export promoter. “We’re seeing a trend: ‘China+1’,” said Simone Wyss Fedele, head of export promotion organisation Switzerland Global Enterprise (S-GE), in an interview with the Schweiz am...

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Covid: 140 million masks set to expire this year

2023-01-30

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2023-01-30

The Swiss government is sitting on a mountain of hygiene masks, bought for the Covid-19 pandemic, and is now desperately looking for alternative uses so they don’t have to be destroyed, according to the SonntagsZeitung.

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Why Western companies still can’t quit Russia

2023-01-29

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2023-01-29

Despite public and political pressure, the mass exodus of Western firms from Russia hasn’t materialised according to a recent study. Why aren’t more cutting ties with Russia despite pledges to do so?

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Swiss start-up funding quadruples within five years

2023-01-28

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2023-01-28

The volume of venture capital that helps aspiring companies get off the ground in Switzerland quadrupled to CHF4 billion ($3.7 billion) between 2017 and 2022.

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China favours Switzerland as a tourist destination

2023-01-27

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2023-01-27

Chinese travel agencies will soon offer tourists 20 destinations around the world. Switzerland, which does not require a Covid test, is one of only two European countries on the list.

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Surfing the American wave: Swiss watch exports reach new heights

2023-01-27

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2023-01-27

Last year Swiss watch exports surpassed CHF24 billion ($26 billion) for the first time. The positive trend is expected to continue into 2023. Journalist and deputy head of the swissinfo.ch editorial group for German, French and Italian. Earlier, worked for Teletext and Switzerland’s French-language national broadcaster.

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Swiss president remains tight-lipped on ‘Covid leaks’

2023-01-27

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2023-01-27

Alain Berset told his ministerial colleagues on Wednesday that he had no knowledge of leaks from his department to the media. In public however Berset remains reluctant to give further information.

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Company takeovers and mergers on the rise in Switzerland

2023-01-26

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2023-01-26

Despite the volatile situation on financial markets and the war in Ukraine, the number of mergers and acquisitions (M&As) reached a record high in Switzerland in 2022.

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Swiss medicine sales to Russia hit 30-year high

2023-01-25

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2023-01-25

Swiss exports of pharmaceuticals to Russia, which are not subject to sanctions, reached a 30-year record last year, buoyed by high prices. Roche, Novartis and the other Swiss pharma companies brought in CHF2.1 billion ($2.3 billion) from the export of pharmaceuticals to Russia in 2022.

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