Category Archive: 3) Swiss Markets and News

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‘Switzerland can’t have its cake and eat it,’ says EU ambassador

2021-06-27

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2021-06-27

After rejecting the framework agreement with the European Union last month, Switzerland must now choose the model for interacting with the bloc’s internal market, says the EU ambassador to Switzerland. In an interviewExternal link with Le Temps newspaper on Friday, Petros Mavromichalis warned that the status quo was not an option for the EU.

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Switzerland to open mass events and nightclubs to those with Covid certificates

2021-06-26

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2021-06-26

On 23 June 2021, Switzerland’s government announced that it was loosening a wide range of Covid-19 restrictions from Saturday. From Saturday, 26 June 2021 rules on nightclubs, large events, remote working, education and restaurants will be loosened. In addition, it will become easier for travelers to enter Switzerland.

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Covid: Swiss cases down 44% this week as Delta looms

2021-06-25

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2021-06-25

This week, 880 new Covid-19 cases were recorded in Switzerland, down 44% from the week before (1,576). The daily number of cases on a 7-day rolling average is now 126. During the week, 22 people were reported being admitted to hospital in Switzerland with Covid-19.

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How the Swiss-based WHO BioHub is preparing for future pandemics

2021-06-25

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2021-06-25

The creation of a global repository in Switzerland to store, analyse and quickly share viruses and pathogens among laboratories around the world will better prepare us for the next pandemic, says a biologist working at the future BioHub site.

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Steady increase of cross-border workers continued in 2020

2021-06-24

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2021-06-24

The number of cross-border workers plying their trade in Switzerland has more than doubled since the mid-1990s. The rising trend continues, increasing by over 4% between 2019 and 2020. At the end of 2020, some 343,000 cross-border workers were employed in Switzerland, up from 329,000 in December 2019, the Federal Statistical Office (FSO) said on Thursday.

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Swiss turning to new payment methods, but cash is still king

2021-06-23

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2021-06-23

The use of debit cards continues to increase but cash remains the most popular payment method in Switzerland. A survey by the Swiss National Bank (SNB) found that 97% of respondents keep cash in their wallets or at home to cover day-to-day expenses, while 92% own a debit card and 78% hold a credit card, according to a press release External linkon Wednesday.

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Covid-19 sent Swiss Energy Consumption Plummeting in 2020

2021-06-22

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2021-06-22

The Swiss consumed almost 11% less energy last year due to the Covid-19 pandemic and warmer weather, according to the Federal Office of Energy. In total, Swiss residents used up 747,400 terajoules (TJ) of energy in 2020 – a fall of 10.6% compared to 2019 - the office said in a statementExternal link on Monday.

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Swiss Cities Demand end to Opaque Cantonal Tax Competition

2021-06-22

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2021-06-22

The proposed 15% minimum corporate tax rate is an opportunity for Switzerland to unite its tax code for the better, says an organization representing Swiss cities. City finance directors have criticized cantons for trying to plug expected tax gaps unilaterally, rather than find a common approach nationwide.

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Covid: Delta variant does not worry Swiss vaccination commission

2021-06-21

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2021-06-21

Switzerland is well prepared to take on the Delta variant, said Christoph Berger, head of Switzerland’s federal vaccination commission. Based on what we currently know, there is no need to be concerned, he said, reported RTS.

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Swiss economy on way back to normal, says top treasurer

2021-06-21

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2021-06-21

Switzerland’s economy will be back to its pre-pandemic level as early as this year and does not need a stimulus package, says Sabine D'Amelio-Favez, director of the Federal Finance Administration. The Confederation has incurred debts of CHF30 billion ($33 billion) to stem the economic consequences of Covid-19, she said in an interview published on Saturday by newspapers of the CH Media group.

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Credit Suisse carnage brings financial risk for banks into focus

2021-06-20

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2021-06-20

Credit Suisse’s disastrous Greensill and Archegos investments have highlighted the destructive side of banking. Regulators and politicians are asking what the Swiss bank did wrong and what can be done to protect investors from future risk-assessment failures.

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Switzerland commits CHF12 million to humanitarian aid in Venezuela

2021-06-19

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2021-06-19

This year Switzerland will provide more than CHF12 million ($13 million) in humanitarian aid to Venezuela and the region, it said at the Donors’ Conference in Solidarity with Venezuelan Refugees and Migrants.

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Swiss among last to embrace wind and solar power 

2021-06-18

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2021-06-18

Switzerland is lagging behind most European countries when it comes to solar and wind power. In terms of per capita production, it ranks second to last in comparison with surrounding countries, according to the Swiss Energy Foundation (SES).

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Icy relations warm up in Geneva

2021-06-17

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The handshake between US-President Joe Biden and his Russian counterpart, Vladimir Putin between made headlines in Geneva on Wednesday. The atmosphere of their meeting was described as “warm”. The summit took place amid a huge security operation involving thousands of police and military personnel. The lake and parts of the city became no-go zones. swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is...

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Basel to become the fifth canton with a minimum wage

2021-06-17

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2021-06-17

Over the weekend, a majority of voters in the canton of Basel-City voted in favour of a minimum wage of CHF 21 (US$ 23) an hour. The move will make Basel-City the first German-speaking Swiss canton to adopt a minimum wage, following in the footsteps of Geneva, Neuchâtel, Jura and Ticino.

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A plea to Swiss banks from the Russian Arctic

2021-06-17

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2021-06-17

Swiss banks might not be the most obvious allies for indigenous communities struggling to survive in Russia’s Far North. But their financial clout could drive multinationals to change their business practices, argue those affected by a major environmental disaster last year.

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Covid: Swiss cases fall as UK cases turn exponential. Why?

2021-06-16

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2021-06-16

Coronavirus Data Explorer, May and June 2021
The number of Covid-19 cases in Switzerland continues to fall. On 15 June 2021, 243 new cases were reported. A month earlier the 7-day average was 2,161 cases. Swiss cases have dropped by 89% in a month. In the UK the number of cases has roughly tripled over the same period and the government has decided to extend current restrictions until 19 July 2021.

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Swiss hail ‘cordial’ talks with Biden

2021-06-16

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2021-06-16

Swiss President Guy Parmelin has underlined the importance of bilateral relations after a “cordial” meeting with US President Joe Biden. Parmelin also called Wednesday’s US-Russia meeting a “sign of hope”. Biden arrived in Geneva on Tuesday afternoon, ahead of the summit with Russia's Vladimir Putin.

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How Geneva is preparing for Biden and Putin

2021-06-15

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Geneva will be hosting the first presidential meeting between the American president Joe Biden and his Russian counterpart Vladimir Putin. Preparations are underway. As the host country, Switzerland will be deploying its good offices and taking all the necessary measures to ensure that talks, which start on June 16, can take place as safely and as discreetly as possible. Issues which have contributed to a rise in tensions between the United...

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SWISS airline job cuts less severe than expected

2021-06-15

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2021-06-15

Swiss International Air Lines will make fewer pandemic-related job cuts than feared following consultations with staff and trade unions. On Tuesday, SWISS said the number of intended layoffs has been reduced to 550 from the 780 announced last month. Of the 550 affected jobs, 58 employees have accepted a downgrade from their current positions so that they will remain with the company.

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