Tag Archive: Business

Good Friday, bad Gotthard traffic

Long queues have been reported at the Gotthard tunnel in central Switzerland as holidaymakers head south for the Easter break. The traffic jam at the northern end of the tunnel stands at 12 kilometres, with a wait of almost two hours, the Touring Club of Switzerlandexternal link (TCS) said on Friday morning.

Read More »

Rail bosses worried over train punctuality

The national railway operator, Swiss Federal Railways, has set up a taskforce to look into train punctuality - currently 90.1% - after the rate slipped slightly last year. News of the taskforce was broken by CH-Media groupexternal link and confirmed by the Federal Railwaysexternal link to the Swiss public broadcaster SRFexternal link. The group, made up of experienced management members, is to report back in six weeks’ time.

Read More »

Syngenta slammed for hazardous pesticide profits

A United Nations representative is demanding action following reports that Swiss crop science company Syngenta is selling highly hazardous pesticides abroad. “There is an urgent need to end this exploitation of lower standards of protection. This is a morally and ethically unjustifiable situation,” Baskut Tuncak, United Nations Special Rapporteur on human rights and toxics, told Swiss NGO Public Eye on Wednesday.

Read More »

Credit Suisse to take controlling stake in its Chinese joint venture

Swiss bank Credit Suisse has agreed with Founder Securities to increase its shareholding to a majority stake in its Beijing-based Credit Suisse Founder Securities (CSFS) joint venture. As a result of the agreement, Credit Suisse’s shareholding is expected to increase from 33.3% to 51% by way of capital injection. The shareholding of Founder Securities in CSFS will reduce to 49%.

Read More »

Holiday traffic jams build at Gotthard tunnel

The start of the Easter holidays in many Swiss cantons is causing long tailbacks at the Gotthard tunnel in central Switzerland, with waits of more than two hours at the northern end. Just before midday on Saturday, the traffic queue to enter the tunnel going south stretched for 14 kilometres, according to the Touring Club of Switzerland (TCS). There was also a two-kilometre tailback at the southern end.

Read More »

Swisscom forges ahead with 5G amid safety fears

Telecoms operator Swisscom says it plans to cover 90% of Switzerland with “5G” fifth-generation mobile communications by the end of this year. “As soon as we have the concession for the new mobile frequencies, we will activate our networks,” Swisscom director Urs Schaeppi told the media on Wednesday. The networks were put in place in partnership with Swedish telecoms company Ericsson.

Read More »

Medical funding from big pharma continues apace

An investigative report by a group of Swiss newspapers has revealed the extent to which pharmaceutical companies are funding hospitals, doctors, and medical centres in the country. CHF458 million ($456.5 million): this was the amount paid by the 60 pharma companies based in Switzerland to various arms of the medical profession between 2015 and 2017, according to a report by the Beobachter, Handelszeitung, Blick, and Le Temps newspapers.

Read More »

More Swiss bankruptcies in 2018 than ever before

Last year saw a record number of bankruptcy procedures opened in Switzerland, with almost 14,000 cases involving bust businesses and individuals. The record numbers, released on Thursday by the Federal Statistical Office, mark a 5.4% increase on 2017 and translate to overall financial losses of some CHF2 billion ($2 billion).

Read More »

Ailing fintech Monetas goes into liquidation again

Bankruptcy proceedings have been reignited against troubled Swiss digital payments company Monetas more than a year after the enterprise hit serious financial difficulties. Efforts to find a new buyer appear to have come to nothing as the firm goes into liquidation.

Read More »

Foreign Investors Own 60 percent of Swiss Corporations

Global financial institutions are increasingly dominating the shareholders of major Swiss companies, according to the Sunday editionexternal link of the Neue Zürcher Zeitung (NZZ). The German-language newspaper points to Swiss banking giant Credit Swiss as a prime example of a financial institution where traditional shareholder democracy is eroding fast.

Read More »

Swiss regulator fires warning over buy-to-let property lending

The Swiss financial regulator has warned banks that rules on mortgage lending may be further tightened if they fail to control their appetite for dishing out real estate credit. Loans tipped the one trillion franc mark in 2017 and continue to swell, particularly in the buy-to-let market.

Read More »

Switzerland continues to lure foreign companies

Switzerland attracted 282 foreign firms to set up shop in the alpine state, creating 899 jobs last year, according to cantonal economic chiefs. That’s an increase of 37 companies from 2017. Switzerland is in the throes of revamping its corporate tax system to keep it line with the competition rules of the European Union and Organisation for Economic Cooperation and Development (OECD).

Read More »

Raiffeisen Switzerland bank to cut 200 jobs

Switzerland’s third-largest bank says it will cut up to 200 jobs to save CHF100 million ($100 million) this year. Raiffeisen is reorganising and undertaking a cost-cutting programme. This follows a recent fraud allegation scandal involving its former chief executive.

Read More »

IMF predicts Swiss growth to slow to 1.1percent in 2019

The Swiss economy is likely to slow in 2019, with gross domestic product growth expected to hit 1.1%, followed by a “moderate” recovery in 2020, the International Monetary Fund said on Monday. The IMF said in a concluding statement, published on Monday following a mission to Switzerland and an annual evaluation, that a “sustained regional slowdown, intensification of global trade tensions and a disruptive Brexit” would adversely affect the Swiss...

Read More »

Stadler lands $600 million order in the US

Swiss railway vehicle manufacturer Stadler Rail has won a $600 million (CHF597 million) order in the United States. The Metropolitan Atlanta Rapid Transit Authority (MARTAexternal link) on Friday announced its decision to award Stadlerexternal link the contract for 127 Metro (underground) trains with two options of 25 additional trains each.

Read More »

Growth forecast lowered for Swiss economy

Worsening international conditions will have a negative impact on Switzerland’s export-driven economy, prompting the Swiss Economic Institute (KOF) to lower its forecast for this year. KOF on Wednesday announced it had revised its growth forecast down from 1.6% to 1% for Switzerland’s gross domestic product. However, the latest outlook for 2020 remains virtually unchanged with growth of 2.1%.

Read More »

Public transport enjoys another record year among tourists

Foreign visitors spent 6.4% more on Swiss Travel System tickets in 2018 than in the previous year. Sales rose to over CHF130 million ($131 million). 2018 is thus the sixth record year in a row, the Swiss Federal Railways said on Tuesday. Chinese guests were the top foreign users of public transport, with sales of CHF20.3 million, an increase of 14.9%.

Read More »

Swiss chocolate consumption slides

In 2018, Switzerland’s population consumed around 87,000 tonnes of chocolate. However, average chocolate consumption dropped from 10.5 kg per person in 2017 to 10.3 kg in 2018, a decline of roughly 2%. This decline reflects last year’s longer hotter summer, according to the industry association Chocosuisse.

Read More »

Swiss join protests against EU copyright reform

Tens of thousands of people across Europe, including in the Swiss city of Zurich, staged protests on Saturday against the European Union's planned copyright reform bill. More than 1,000 demonstrators marched in the northeastern Switzerland against the copyright reforms which critics fear threaten freedom of speech, according to the Keystone-SDA news agency.

Read More »

Top Swiss institutes launch joint cyber-security programme

Switzerland’s federal technology institutes have launched a new Masters degree in cyber-security as part of an effort to play a leading role in studying the protection of computers and networks. The two Swiss Federal Institutes of Technology, Lausanne's EPFL and Zurich's ETH, already offer “world-class training in the fields of computing and information technology," said education and research minister Guy Parmelin at the announcement of the new...

Read More »
Page 112345...1020...Last »