Category Archive: 3.) Swissinfo Business and Economy

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Swiss pharma industry wants to reduce dependence on Asia

2023-02-14

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2023-02-14

The Swiss pharmaceutical industry should be less dependent on active ingredients from Asia, says the president of the industry umbrella organisation, pharmaSuisse. Martine Ruggli has called for new drug companies to be built in Europe.

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Switzerland’s ‘cash initiative’ – what’s at stake?

2023-02-13

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2023-02-13

Swiss citizens look set to vote on a people’s initiative to try to ensure their economy never becomes cashless. What do the campaigners behind the idea really want?

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Shortage of workers cited as top obstacle to Swiss economy

2023-02-13

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2023-02-13

The president of the Swiss Employers' Association wants to increase the potential workforce in Switzerland by 300,000 people. To achieve this, women, young people, the elderly and refugees must be integrated into the labour market or be given more work, said Valentin Vogt on Swiss public radio SRF on Saturday.

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Where did it all go wrong for Credit Suisse?

2023-02-12

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2023-02-12

Widespread analysis of what went wrong at Credit Suisse converges on a constant theme: an international bank that lost touch with its Swiss roots, led by people who put profits ahead of prudence. 

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Commodities trader Trafigura stung by ‘CHF500 million fraud’

2023-02-12

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2023-02-12

Swiss commodities trading company Trafigura says it has been defrauded to the tune of $577 million (CHF530 million) by fake nickel shipments. The firm has launched legal action against a Dubai-based metals trader and the group of companies he runs out of the Middle East emirate.“

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Public sector workers strike in western Switzerland for higher wages

2023-02-11

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2023-02-11

Around 3,500 public sector workers in the western Swiss canton of Vaud took part in a strike on Thursday. They are calling for wage indexation to keep up with inflation and rising living costs.

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Not enough clarity in recycling sector, Swiss oversight body says

2023-02-10

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2023-02-10

The Federal Audit Office says there needs to be more transparency around the various fees and taxes which fund Switzerland’s recycling system. The auditors wrote on Wednesday that CHF176 million ($192 million) in recycling taxes and fees were collected in 2019: these included state-organised prepaid disposal fees on glass and batteries, and voluntary, private sector-run contributions on PET packaging, aluminium, tin cans, electrical appliances and...

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SWISS to resume regular passenger flights to China

2023-02-08

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2023-02-08

Swiss International Air Lines (SWISS) says it will resume passenger flights to the Chinese city of Shanghai early next month following an easing of travel restrictions.

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The Swiss view of free movement within the EU

2023-02-07

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Livia Leu, Switzerland's chief negotiator with the European Union, has been talking about the challenges ahead in 2023, especially when it comes to the free movement of people. For about 20 years, Switzerland has regulated its relations with the EU in bilateral agreements, an alternative to EU membership that it would like to maintain. But the rules governing EU market access have now changed so the bilaterals need updating. The EU and Switzerland...

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How popular votes made Switzerland a global democracy leader

2023-02-07

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With its second federal constitution of 1874, Switzerland was suddenly catapulted to the forefront of democracy development worldwide. No canton had voted so strongly in favour of radical change as Schaffhausen. Adopting the new federal constitution marked a milestone in Swiss history. It brought about several important improvements, making up for just about everything the original constitution lacked. Many of these improvements would not have...

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The most critical questions about the Swiss central bank’s huge losses

2023-02-07

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2023-02-07

The Swiss National Bank (SNB) booked a CHF132 billion ($143 billion) loss in 2022 and suspended profit-sharing transfers to the Confederation and cantons. What does that mean exactly? And how does the SNB fare in international comparison?  Fabio Canetg More from this author Last year, the SNB lost more money than ever before. And it is not alone: central banks around the world also recorded heavy losses. As a...

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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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