Category Archive: 3.) Swissinfo Business and Economy

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OECD forecasts drop in Swiss economic growth in 2020

2020-06-11

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2020-06-11

Even though restrictions aimed at slowing the spread of Covid-19 were less strict than in other countries, Switzerland will still see its GDP fall by 7.7%, if the pandemic is contained by summer.

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Swiss develop first see-through mask

2020-06-10

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2020-06-10

A fully transparent surgical mask that filters out germs but allows facial expressions to be seen has been developed by Swiss scientists. Caregivers should be able to wear them from the summer of 2021.

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Lockdown led to big jump in worker productivity

2020-06-08

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2020-06-08

Thanks to more focus and flexibility, productivity per worker increased by up to 16% during the Covid-19 lockdown in Switzerland, a study has calculated. The study by the Swiss Trade Association (SGV), reported in the NZZ am Sonntag newspaper, found that while hours worked dropped by 10% in the first quarter of 2020, GDP sank by just 2.6%.

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WEF unveils dual physical and virtual Davos summit in 2021

2020-06-07

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2020-06-07

The World Economic Forum (WEF) annual conference in Davos will take place in January with fewer physical participants – but with a new “virtual” connection to more than 400 cities around the world.

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Parliament approves extra CHF14.9 billion for Covid relief

2020-06-06

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2020-06-06

A further CHF14.9 billion ($15.5 billion) has been agreed by parliament to cope with the coronavirus pandemic. Most of it will go towards unemployment insurance, which finances short-time work compensation.

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NGOs urge Swiss banks to ease developing country debt

2020-06-05

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2020-06-05

A group of 11 NGOs has called on Swiss banks and government ministries to consider offering relief on billions in debt owed by developing nations. The consortium says that the coronavirus pandemic has increased economic pressure on the poorest countries.

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‘Green’ aviation fuel aims to power planes by 2030

2020-06-04

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2020-06-04

The Covid-19 pandemic has overshadowed the climate crisis, but with the gradual return of consumption and travel, concerns about global warming are resurfacing. A Swiss start-up is developing an aviation fuel produced solely with water, solar energy and CO2. Will this emission-neutral fuel put an end to “flight shame”?

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A 360-degree visit to Bern’s onion market

2020-06-03

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Take a virtual visit to the heart of the Zibelemärit, the picturesque onion market in the Swiss capital, Bern. Extra trains and more than 100 coaches from Switzerland and abroad brought thousands of visitors to this traditional farmers’ festival, where the main attraction was artfully braided onion garlands in all shapes and sizes. The Zibelemärit …

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Davos aims to coax elite out of isolation in January

2020-06-02

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2020-06-02

The World Economic Forum has vowed to hold its annual meeting in Davos in January, testing the willingness of a globetrotting elite to resume the high-powered networking that has been frozen by the coronavirus pandemic.

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Credit Suisse grants CHF2.8 billion in corona credit

2020-06-01

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2020-06-01

Major Swiss bank Credit Suisse has issued 15,400 emergency loans totaling CHF2.8 billion ($2.9 billion) during the coronavirus crisis, says board chairman Urs Rohner. The numbers are similar at competitor UBS.

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Saint-Gobain to drop its shareholding in Swiss chemical maker Sika

2020-05-31

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2020-05-31

The French building materials and distribution group Saint-Gobain has announced the sale of its 10.75% stake in the capital of the Swiss chemical manufacturer Sika.

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Swiss Covid-19 contact tracing app ready for privacy testing

2020-05-30

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2020-05-30

Authorities have released the source code of the SwissCovid app to the public to allow experts and hackers to detect any risks to privacy before the official launch.

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2021 Geneva Motor Show ‘very uncertain’ as organisers reject loan

2020-05-29

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2020-05-29

The 2021 edition of the Geneva International Motor Show remains touch and go after the organisers rejected the terms surrounding a state rescue loan. This year’s car show was cancelled four days prior to its opening due to the coronavirus outbreak, costing an estimated loss of CHF11 million ($11.3 million) for the organisers of Switzerland’s largest public event.

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Swiss industry endured horror April during pandemic peak

2020-05-28

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2020-05-28

Swiss watch exports slumped by over 80% last month, recording sales of just CHF329 million ($339 million) – compared with CHF1.76 billion in April 2019. Both exports and imports in all industries endured a predictably dire performance as Covid-19 resulted in national lockdowns.

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Coronavirus fuels Swiss bicycling surge

2020-05-28

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2020-05-28

While demand for public transport collapsed during Switzerland's partial lockdown, bicycle usage soared across the country. But greater acceptance of cycling nationwide will depend on further political decisions and transport planning.

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Tourism industry told to adapt to new travel habits

2020-05-27

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2020-05-27

Going on holiday in one’s own country and in the countryside, in smaller groups and sometimes with restrictions – this is the new reality to which the tourism industry must adapt, according to a study by the University of St Gallen.

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Airfare refunds remain a sticking point

2020-05-26

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2020-05-26

The head of a major Swiss travel agency has complained that Swiss International Air Lines (SWISS) is not helping to reimburse clients fast enough. In the event of cancellations such as those prompted by the Covid-19 pandemic, Swiss package tour operators are legally obliged to provide refunds. But according to Thomas Stirnimann, the chief executive officer of Hotelplan, SWISS is not repaying the travel agents promptly.

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Poll: 70 percent of residents back ‘SwissCovid’ tracing app

2020-05-26

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2020-05-26

A Swiss smartphone app that uses Apple-Google technology to help trace coronavirus infections has widespread support among the population, a new survey shows. Around 70% of Swiss residents welcome the introduction of the decentralised contact tracing application DP-3T, according to a poll published on Monday by the research consultancy Sotomo.

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How does asylum work in Switzerland

2020-05-22

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Switzerland has a humanitarian tradition and deals with relatively more asylum requests than other European countries, given the size of the population. Over 14,000 applications were submitted in 2019 and about a third of these people were admitted provisionally. However, migrants heading for Europe often prefer to go to neighbouring Germany and France. The Swiss …

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Swiss maker of clean aviation fuel gets boost from Lufthansa

2020-05-22

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2020-05-22

The Lufthansa Group has entered a partnership with the Swiss solar fuel developer Synhelion. The Swiss start-up is working to produce a fuel that emits 50% less CO2 by 2022 and plans to market a 100% renewable fuel in 2030.

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