Tag Archive: Business

Energy crisis acting as drag for Swiss economy

The KOF economic institute has joined other forecasting agencies to lower its predictions for the Swiss economy. However, the experts do not expect a recession for the time being.

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2021 a ‘mixed year’ for farmers and their profits

Agricultural income in Switzerland grew slightly in 2021 to reach an average of CHF80,700 ($81,765) per farm, according to latest statistics.

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Credit Suisse reassures investors over bank’s financial strength

Senior Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about the Swiss bank’s liquidity and capital position in response to concerns raised about its financial strength.

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The strong Swiss franc – truth or myth?

The Swiss franc has hit an all-time high against the euro. Even though it trades at an unprecedented CHF0.95 to the euro, the strong franc no longer poses a threat to the Swiss economy. What has changed in the last ten years? 

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Swiss landlords fear lawsuits for turning down heating

Landlords and tenants are opposing government calls to reduce household heating to 19 degrees Celsius, warning it might spark a flurry of lawsuits.

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$200 million fine for UBS and Credit Suisse

The biggest two Swiss Banks have each been fined $200 million (CHF199 million) as part of a large-scale US investigation into the failure to preserve electronic communications.

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Credit Suisse forced to address restructuring concerns

Troubled Swiss bank Credit Suisse has sought to quieten rampant speculation about its upcoming strategic revamp following leaks to the media and concerns of its staff.

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The positives and negatives of Swiss interest rates

By normal standards, interest rates of 0.5% are considered low. But Switzerland has just emerged from a long period of negative interest after the Swiss National Bank (SNB) raised rates from -0.25% to +0.5%.

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Work to begin on Swiss backup power plant

The Swiss government has given the green light to begin the construction of a temporary reserve power plant due to be operational from February next year.

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Wealthy echelons thrive amid economic volatility

The world’s richest people saw their wealth expand last year as stock markets and real estate gained in value, according to Swiss bank Credit Suisse.

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Switzerland braces for winter energy crunch

Despite being one of the world’s richest countries, Switzerland also faces the threat of an energy shortage in the coming months. The authorities are scrambling to prepare.

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Swiss parliament okays purchase of F-35 jets from US

Switzerland’s House of Representatives has approved the purchase of new F-35 fighter jets from the United States. The decision clears the path for Bern to sign the purchase contract, even though an initiative to prevent the deal has not been voted on by Swiss voters.

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Swiss price watchdog lays out options for slashing electricity costs

By reducing grid connection fees and municipal duties, the federal government could help to keep electricity bills down, Stefan Meierhans told Le Matin Dimanche newspaper. Meierhans said it is possible for the government to change the framework conditions that would allow a lowering of fees for using the grid.

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How gold mining in Ghana is threatening Swiss chocolate

As the world’s second-largest cocoa producer continues to lose swathes of farmland to illegal gold mining, Switzerland's chocolate makers are waking up to the threat to their raw material supply.

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Home ownership remains a mirage for most Swiss

Many Swiss dream of owning a single-family home in the countryside and passing it on to their children. For most, this dream is increasingly unrealistic.

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Social security

Switzerland has a social security network that covers risks in many areas – work, health, family and old age. 

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Swiss economy slows but stays in the black

Switzerland’s economic output slowed to 0.3% between April and the end of June, compared to the first quarter of the year. The manufacturing, construction, trade and financial services sectors all showed signs of weakening in the face of energy shortages and rising inflation.

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Switzerland key to rehabilitating tarnished crypto exchange

Troubled cryptocurrency exchange BitMEX is charting its revival in Switzerland after the platform and its three co-founders were prosecuted in the United States.

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Steel mill applies for reduced working hours due to energy costs

High energy prices have forced a steel mill in Switzerland to prepare for short-time working to avoid layoffs.   

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Swiss bank takes plunge into the metaverse

Swiss digital assets bank Sygnum will open a branch in the metaverse to reach more clients seeking blockchain-based financial services. Sygnum was one of two banks that were awarded licenses in 2019 to connect traditional finance with cryptocurrencies and the blockchain. Blockchain and other Distributed Ledger Technology (DLT) databases provide a home for digital currencies and other assets, such as company shares, collectibles and art.

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