Tag Archive: global trade

Profits of Swiss commodities firm Glencore soar to $4.41bn

2026-08-05

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2026-08-05

Swiss mining and commodities trading giant Glencore has posted net profits of $4.41 billion for the first six months of 2026, compared with a $655 million loss a year earlier. Last year's performance was hit by a write-down of nearly $900 million on the group's Colombian coal operations. + Commodity trading in Switzerland, explained "The …

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Sandoz legal costs weigh down profits

2026-08-05

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2026-08-05

Swiss generic drugs giant Sandoz saw profits plummet by 70% in the first six months of the year as a result of huge legal costs. Profits slumped to $109 million after the company was fined around $480 million in the United States. The Rhine-based multinational had previously set aside provisions for this anticipated legal cost. …

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How Switzerland could become a hub for Chinese e-commerce

2026-07-22

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2026-07-22

Since July 1, a tax on small packages from China has been in force in the European Union (EU). Some worry that non-EU member Switzerland represents an easy loophole for big Chinese platforms. Europeans have developed an appetite for the cheap products sold by Chinese platforms like Shein and Temu. Such online shopping has boomed …

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Nestlé to close Hungarian factory at end of year

2026-07-21

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2026-07-21

Swiss food manufacturer Nestlé plans to close a Hungarian factory specialising in the production of hollow chocolate figures, such as those sold at Christmas or Easter. This type of confectionery, which is also sold in Switzerland, will in future be manufactured by an independent producer. "In July 2026, Nestlé Hungária informed the staff representative bodies …

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Rising June Swiss watch sales bucks 2026 trend

2026-07-21

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2026-07-21

Following the sharp decline in April and the stabilisation in May, sales of Swiss watches abroad began to rise again in June. According to figures released today by the Federation of the Swiss Watch Industry (FH), exports in the sixth month of 2026 stood at CHF2.4 billion, up 11.2% compared with the same period in …

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Swiss exports to US boomed in second quarter

2026-07-21

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2026-07-21

Switzerland’s foreign trade picked up significantly in the second quarter, driven mainly by strong sales of pharmaceutical products and a rebound in trade with North America. Between April and the end of June, exports rose by 8.8% compared with the previous quarter – and, before adjusting for inflation – to CHF73.23 billion. Imports rose by …

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Nestlé investing CHF520m in Italian animal feed plant

2026-07-20

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2026-07-20

Swiss food manufacturer Nestlé is expanding its pet food business and investing around CHF520 million in a factory and logistics centre in northern Italy. From 2029, the site will serve as a hub for wet food for dogs and cats, as well as providing logistics services for Purina and other Nestlé brands. The new plant …

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EU steps up antitrust case against Swiss chemicals firm Sika

2026-07-20

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2026-07-20

The European Commission is stepping up antitrust proceedings against the construction chemicals group Sika and other manufacturers. The Commission has sent statements of objections regarding suspected price-fixing in relation to chemical additives for cement, concrete and mortar. According to the EC’s preliminary assessment, the companies are alleged to have colluded on future price increases between …

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German car crisis hits Swiss manufacturing industry

2026-07-20

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2026-07-20

The closure of a Swiss factory that manufactures precision components shows that the crisis in the German car industry is also having an impact in Switzerland. The St Gallen-based industrial group SFS has decided to close its plant in Flawil by the end of 2027, resulting in the loss of 110 jobs. The decision took …

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Korean firm bids CHF1.5bn for Swiss pharma supplier Polypeptide

2026-07-20

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2026-07-20

The South Korean contract biopharmaceutical manufacturer Samsung Biologics intends to acquire the Swiss active pharmaceutical ingredient manufacturer Polypeptide. The company is offering CHF44.31 per share in cash, valuing Polypeptide at around CHF1.5 billion. Polypeptide’s board of directors supports the offer, both companies announced on Monday. The major shareholder, Draupnir Holding, which holds just under 56% …

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Swiss energy provider invests in Finnish company

2026-07-17

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2026-07-17

Swiss energy firm Romande Energie has acquired a minority stake in the Finnish company Hyperion Robotics for an undisclosed sum. "This investment marks the seventh in Romande Energie’s corporate venture capital portfolio and the first to be made outside Switzerland," a spokesperson for the Morges-based group told the AWP news agency on Friday. This arm …

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Swiss rail firm Stadler to deliver 21 trams to US

2026-07-16

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2026-07-16

Swiss railway equipment manufacturer Stadler has agreed to deliver 21 trams to the Texan operator Austin Transit Partnership (ATP), with an option for a further 19 trams. The Citylink-type trams, which can carry 240 passengers, will be built at Stadler’s United States factory in Salt Lake City, the Thurgau-based group said in a statement on …

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How the Hormuz crisis is reshaping global trade

2026-07-10

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2026-07-10

Commercial shipping had only just begun returning to the Strait of Hormuz after a memorandum of understanding signed between the US and Iran in mid-June raised hopes of de-escalation. But those hopes have now evaporated with the return of direct military confrontation, reigniting fears about the world's most important energy chokepoint. For governments and businesses, …

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Most Swiss small firms confident of survival

2026-07-09

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2026-07-09

Despite economic uncertainties, the majority of Swiss small and medium-sized enterprises (SMEs) are optimistic about the future. According to a survey, 86% of respondents expect their business to still be in operation in ten years’ time. At the same time, 43% regard the economic situation in their sector as uncertain. This is shown by this …

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Nestlé investing half a billion in Thai Nescafé plant

2026-07-09

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2026-07-09

Swiss fdood manufacturer Nestlé is investing CHF563 million to construct a production facility for its Nescafé brand in Thailand. The factory will primarily supply the local market with instant coffee, coffee blends and other ready-to-drink beverages. The investment aims to meet the growing demand for coffee in Thailand, a market estimated to be worth CHF1 …

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Switzerland and Mexico to update free trade agreement

2026-07-09

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2026-07-09

The free trade agreement (FTA) between Mexico and European Free Trade Association (EFTA) states, including Switzerland, is to be updated. This was confirmed by Swiss economics minister Guy Parmelin and his Mexican counterpart, Claudia Sheinbaum, in Mexico City. This EFTA-Mexico FTA is now 25 years old. Mexico is Switzerland’s second most important trading partner in …

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EC clears Zurich insurer to buy British specialist Beazley

2026-07-07

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2026-07-07

The Zurich Insurance Group has received the green light from the European Commission (EC) to acquire the British specialist insurer Beazley. The EC approved the acquisition under a simplified merger control procedure, as it announced on Tuesday. The EC went on to state that the proposed transaction did not raise any competition concerns, as the …

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Swiss manufacturer Georg Fischer sells turbine and aerospace foundry

2026-07-07

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2026-07-07

Swiss manufacturer Georg Fischer is selling its precision casting business for the aerospace sector and the industrial gas turbine business to United States group CPP. The business division currently employs around 600 people. Georg Fischer expects the sale to generate cash inflows of around CHF220 million. This is intended to further reduce net debt. The …

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Switzerland forms military purchasing pact with Austria

2026-07-07

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2026-07-07

Switzerland intends to step up its cooperation with Austria when buying military equipment. The aim is to make the procurement of defence equipment more cost-effective and efficient, said Swiss defence minister Martin Pfister. + Is the Swiss weapons industry in danger of misfiring? "We are only just at the beginning of joint procurement in Europe," …

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Why Switzerland’s fuel stockpiles are for Swiss use only

2026-05-04

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2026-05-04

In the event of fuel and heating oil shortages, Switzerland can draw on compulsory stockpiles. It does not have to share these with other countries. Despite the ongoing war in Iran and the closure of the Strait of Hormuz, petrol and diesel continue to flow at Swiss petrol stations and planes are still taking off. … Continue...

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