Tag Archive: Business

Swiss bank takes plunge into the metaverse

2022-09-04

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2022-09-04

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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Inflation continues to bite in Switzerland

2022-09-02

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2022-09-02

The cost of goods and services in Switzerland rose 3.5% in August compared to the same month last year, but the inflation rate still remains below that of many other countries.

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Swiss population urged to save energy to mitigate winter shortages

2022-09-01

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2022-09-01

The Swiss government has appealed to the population to save on household energy ahead of anticipated electricity and gas shortages this winter.

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Swiss electricity boss: energy policy not to blame for shortages

2022-08-29

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2022-08-29

The head of the Swiss Federal Electricity Commission (Elcom) reckons a winter energy crisis is virtually unavoidable. However, he said the cause of the problem – war in Ukraine – was also difficult to predict.

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The Russian Gold Standard

2022-08-28

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2022-08-28

It is becoming increasingly clear that UN Nations are realising that it is very difficult to isolate a country that is already a global power. And not just a global power in terms of the military but also in terms of the world’s dependence on its energy exports.

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Swiss panoramic train to debut in December

2022-08-27

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2022-08-27

The GoldenPass Express (GPX) panoramic train, which will link Montreux to Interlaken without any station changes, will make its debut on December 11. 

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Zurich airport bounces back to profit after pandemic

2022-08-25

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2022-08-25

Switzerland’s busiest airport has posted a CHF55 million ($57 million) net profit for the first six months of the year as post-pandemic air travel picks up.

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Swiss minister urges calm over energy shortage fears

2022-08-24

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2022-08-24

The threat of energy shortages in Switzerland this winter should not be over-dramatised, Economics Minister Guy Parmelin has said in response to growing calls at the weekend for government action.

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From high street to metaverse: finance embraces ‘bank killer’ technology

2022-08-12

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2022-08-12

A bank client attaches her ‘non-fungible token’ personal identity to a digital wallet, containing both traditional money and cryptocurrencies, and accesses decentralised financial investments via the metaverse.

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Hackers to put latest Swiss e-voting software to the test

2022-08-11

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2022-08-11

The Swiss Post’s e-vote system is opening itself to attacks by ethical hackers in an effort to weed out security flaws. The window for the test runs until September 2, during which time hackers will be able to launch attacks on the source code under realistic conditions, Swiss Post said on Monday.

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Cash payments lose further ground, poll finds

2022-08-04

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2022-08-04

A new survey has confirmed a growing role of debit and credit cards as popular payment method in Switzerland. Some 52% of respondents in a survey said either of the cards were absolutely indispensable for them, the independent online comparison service, moneyland.ch, said.

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Swiss retail banks earn highest profit per customer

2022-07-24

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2022-07-24

Swiss retail banks make the most profit per customer among wealthy nations, according to an international ranking.

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Major Swiss private bank to scrap negative interest charges

2022-07-22

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2022-07-22

Wealth manager Julius Bär has joined a growing list of Swiss banks that will no longer pass on the cost of negative interest rates to clients.

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Ukraine war hits Swiss asset management industry

2022-07-19

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2022-07-19

The ongoing war in Ukraine has been partly blamed for losses at a prominent Swiss asset management company. The entire Swiss industry suffered a dip in fortunes in the first six months of year as extreme market volatility reduced the value of investments and caused clients to play safe with their money.

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Biggest soy traders enlist indirect suppliers to tackle hidden deforestation

2022-07-17

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2022-07-17

Six of the world’s biggest commodity traders have committed to help some of their largest indirect suppliers source soy sustainably in Brazil’s vulnerable Cerrado region.

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Experts pessimistic about 2023 outlook for Swiss economy

2022-07-14

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2022-07-14

The BAK Economics market research institute has confirmed its forecast for the Swiss economy this year, but it is more pessimistic about 2023.

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Crypto Nation Switzerland defiant in face of bitcoin crash

2022-07-14

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2022-07-14

The price of bitcoin has plummeted to a third of its peak value, an experimental cryptocurrency called Terra has crashed in spectacular fashion and several crypto companies have shed jobs or are faced with bankruptcy. Where does this leave the growing blockchain industry in Switzerland?

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Swiss tech chameleon fast tracks into trouble

2022-07-13

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2022-07-13

If running a fintech start-up isn’t hard enough, then try pivoting to healthtech in mid-stride. The transition from digital payments to Covid diagnostics has proven a bumpy ride for Achiko, resulting in its shares being suspended from trading on the Swiss stock exchange.

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French air police ground Swiss interior minister’s private flight

2022-07-13

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2022-07-13

The Swiss interior minister, Alain Berset, on a private flight in neighbouring France has been forced to land by the French air force.

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From crypto stamp to crypto vaults: Swiss post office embraces bitcoin

2022-07-12

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2022-07-12

The price of bitcoin has been in freefall in recent weeks, but that doesn’t seem to bother the most conservative of financial institutions – the banking arm of the Swiss post office. PostFinance is stepping up its drive to grant customers access to cryptocurrencies within the next couple of years.

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