Tag Archive: Business

Swiss retailers brace for ‘Black Friday’ sales as shoppers raise credit limits

2019-11-18

by

2019-11-18

The busiest shopping day of the year in the United States has become big business in Switzerland. But, some worry about the risks of consumers falling into debt and the pressure the Black Friday “holiday” puts on employees and the postal service.

Read More »

Ageing population threatens Swiss prosperity, study warns

2019-11-17

by

2019-11-17

Switzerland must do more to find employment options for older citizens and increase work productivity says the State Secretariat for Economic Affairs (Seco). If not, prosperity for all will decline as the population ages. The median age of the Swiss population has risen to 43 compared to 32 in 1970. By 2060 this will rise further to 48-years-old going by current fertility rates.

Read More »

‘We’re green enough’ says Swiss central bank 

2019-11-16

by

2019-11-16

The Swiss National Bank (SNB) is doing enough to mitigate climate damage with its investment policy, senior directors have stated. Switzerland’s central bank does not have the mandate to impose environmental conditions on the commercial banking sector.

Read More »

Additional funds set aside for transalpine rail transport 

2019-11-15

by

2019-11-15

The Swiss government has decided to earmark CHF180 million ($182 million) as part of a package to promote the transfer of heavy-goods transport from road to rail. In its bill to parliament, the government foresees an extension of payments to transport companies using freight trains until 2026 and a decrease in so-called track access charges with CHF90 million each.

Read More »

Time limit to exchange old banknotes eliminated

2019-11-15

by

2019-11-15

Banknotes as old as 1976 can soon be traded in at the national bank following a decision by the federal government to eliminate the 20-year time limit. The Swiss National Bank (SNB) issues a new series of banknotes every 15 to 20 years and removes the old notes from circulation. Six months later, the old notes don’t have a legal tender and therefore can’t be used as a means of payment.

Read More »

Telecom operator Sunrise to pay up for failed deal

2019-11-14

by

2019-11-14

Following shareholder pushback, Swiss telecom operator Sunrise has cancelled the purchase contract for the cable network operator UPC, officially burying the controversial deal. This is another failed attempt to challenge industry leader Swisscom.

Read More »

Swiss crypto bank SEBA outlines ambitions

2019-11-13

by

2019-11-13

Crypto bank SEBA is confident of attracting a “three-digit” number of Swiss clients by the end of the year before setting its sights on global expansion and raising more than CHF100 million ($101 million) in extra funding from the public.

Read More »

No Swiss citizenship for WEF founder Schwab, reports say

2019-11-13

by

2019-11-13

World Economic Forum founder Klaus Schwab will not be receiving honorary Swiss citizenship, despite the idea having being mooted earlier this year. Such an honorary conferral of the passport has no basis in Swiss law, the Federal Justice Office announced on Tuesday, after it was contacted by the daily Südostschweiz newspaper.

Read More »

Swiss payments system aims to link bitcoin and retailers

2019-11-09

by

2019-11-09

Prominent European payment infrastructure provider Worldline has teamed up with financial services firm Bitcoin Suisse to allow cryptocurrency enthusiasts to spend their bitcoin in Swiss shops. Worldline last year took over SIX Payment Services, the former arm of the Swiss stock exchange group that provides payment card terminals in 85,000 Swiss retail outlets.

Read More »

Using lake water to help reduce Switzerland’s carbon footprint

2019-11-08

by

2019-11-08

Swiss lakes offer huge potential as renewable energy sources that can be used to cool and heat buildings. Geneva is expanding a pioneering thermal exchange project to help meet its climate goals, while other regions are taking the plunge. After transport, the second and third biggest sources of national greenhouse gas emissions are Swiss industry (20% of total in 2017) and households (18%).

Read More »

Is blockchain real estate in need of renovation?

2019-11-08

by

2019-11-08

Our regular analysis of developments in the world of fintech and Crypto Nation. Property has for some time been hailed as prime real estate for blockchain disruption. The incorruptible ledger will replace mountains of paperwork while interested parties will have a sovereign claim to validate transactions in property sales.

Read More »

What does blockchain have to do with me?

2019-11-08

by

2019-11-08

Blockchain and cryptocurrencies seem to be all over the news, but is this a flash-in-the-pan gimmick or a real digital service that can impact on the lives of ordinary people?

Read More »

UBS: “Negative interest rates harm Swiss economy”

2019-11-07

by

2019-11-07

A survey of Swiss companies commissioned by UBS bank concludes that negative interest rates are harming the wider economy. Switzerland’s largest bank, UBS, asked 2,500 companies about the impact of negative interest rates. “Nearly two-thirds of respondents said that the cost…for the economy outweighed their benefits overall,” UBS said in a press releaseexternal link on Thursday.

Read More »

Swiss train problems being solved, says manufacturer

2019-11-07

by

2019-11-07

Bombardier says it expects to deliver all 62 double-decker express trains ordered by Swiss Federal Railways by summer 2021. Deliveries should have been made as early as 2013 but have been fraught with technical problems. The trains were ordered in 2010 for a total of CHF 1.9 billion ($1.9 billion), making it the largest contract in the history of rail transport.

Read More »

Why is solar power struggling to take off in Switzerland?

2019-11-07

by

2019-11-07

Solar energy is the main source of renewable energy in Switzerland, after hydroelectric power. But its potential is far from being exploited, according to industry experts. In 1982 Switzerland became the first country in Europe to connect a photovoltaic plant to the electricity network. Ten years later it inaugurated what at the time was the continent’s largest solar power station.

Read More »

Nestlé accused of sourcing palm oil linked to forest fires in Indonesia

2019-11-06

by

2019-11-06

The environmental group Greenpeace claims that the Swiss food giant procured palm oil from suppliers linked to around 9,700 fire hotspots in Indonesia this year. A Greenpeace reportexternal link released on Monday examines the supply chain of four major food companies – Nestlé, Unilever, Procter & Gamble and Mondelēz – and compares them to palm oil suppliers that are under investigation for starting illegal fires.

Read More »

Would an Uber ban in Geneva push other cities to treat drivers as employees?

2019-11-06

by

2019-11-06

It’s not the first time Uber has faced some bumps on the road in canton Geneva. But the latest move requiring the ride-hailing company to treat drivers as employees could spell big changes for the company. Will Uber call it quits or set a precedent for other cities?

Read More »

‘Farinet’ local currency to be withdrawn from circulation

2019-11-05

by

2019-11-05

The Farinet – a local currency introduced in canton Valais in 2017 – is to be withdrawn from circulation at the end of 2019 after failing to stimulate the regional economy as hoped. Farinet banknotes were introduced in Valais in western Switzerland in spring 2017. But on Tuesday the association behind the currency announced it planned to withdraw it at the end of this year.

Read More »

Switzerland’s growth hampered by trade tensions, economic slowdown

2019-11-05

by

2019-11-05

Trade tensions coupled with a slowdown in Europe are likely to take a toll on the Swiss economy over the next two years, the OECD forecasts. The Organisation for Economic Co-operation and Development (OECD) has revised its growth forecasts downwards for Switzerland. It also recommended Switzerland raise its retirement age.

Read More »

Switzerland calls time on phone booths

2019-11-02

by

2019-11-02

The last telephone box in French-speaking Switzerland, on the shores of Lake Geneva, was dismantled on Thursday. Swisscom will remove the one in the country – in Baden, northern Switzerland – on November 28. An era in the history of Swiss telecommunications is thus coming to an end, an era that witnessed millions of declarations of love, tears and banal conversations in the little cabins that once stood on almost every street corner.

Read More »