Tag Archive: Latest news

Swiss court gives Nord Stream 2 more time to avoid insolvency

2022-09-11

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2022-09-11

The Swiss company behind the Russian gas pipeline Nord Stream 2 has received a four-month extension to try to repay its debts. 

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Too soon to say inflation has peaked, says SNB boss

2022-09-09

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2022-09-09

The president of the Swiss National Bank (SNB), Thomas Jordan, says the inflation outlook is more uncertain than normal and it is premature to say prices have peaked. “You cannot say we have passed the zenith and now it is certainly heading lower,” Jordan told a Finanz and Wirtschaft financial conference on Thursday.“

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Pilot project tests power backup from electric cars

2022-09-07

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2022-09-07

An innovative pilot project testing the potential of electric cars to stabilise the power grid has been launched in Switzerland.

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Credit Suisse reportedly slashing 5,000 jobs globally

2022-09-06

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2022-09-06

Embattled Swiss bank Credit Suisse is planning to cut around 10% of its workforce as part of a major cost cutting drive, according to several media reports.

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Electricity shortage boosts solar energy

2022-09-03

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2022-09-03

Fears of an electricity shortage in Switzerland appear to have had a positive effect on the expansion of solar energy. The Swiss Federal Office of Energy (SFOE) expects the market to grow by around 50% in 2022.

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Switzerland should get tougher on money-laundering, says report

2022-08-31

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2022-08-31

Swiss legislation is lagging behind in the fight against money laundering, and “seldom anticipates developments at international level”, the Swiss Federal Audit Office (SFAO) has warned.

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Concerns raised over looming energy shortage

2022-08-24

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2022-08-24

Leading voices from business and politics have called on the Swiss government – and in particular economy minister Guy Parmelin – to do more about possible energy and gas shortages over the winter.

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Developer invests CH170 million in new Swiss tourist resort

2022-08-23

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2022-08-23

The Andermatt Swiss Alps (ASA) company, majority owned by Egyptian financier Samih Sawiris, is to build a new 1,800-bed Alpine resort in the Sedrun region in southeast Switzerland.

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Credit Suisse pursues legal claim against SoftBank in $440m dispute

2022-08-15

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2022-08-15

Credit Suisse Group applied to the English High Court last week to initiate formal legal proceedings against Japan’s SoftBank Group Corp over a $440 million (CHF414 million) dispute, according to the Financial Times.

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Solar power plant to be built on Lake Lei dam

2022-08-14

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2022-08-14

A large alpine solar power plant is to be installed on the dam wall of Lake Lei near Ferrera in southeastern Switzerland. The 1,800 square-metre plant is being built by the Zurich Electricity Company. Located at an altitude of 1,930 metres, the plant will comprise more than 1,000 solar units with a total output of 350 kilowatts, equivalent to the consumption of 160 households.

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Cassis discusses finance and innovation with UAE minister

2022-08-13

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2022-08-13

Swiss Foreign Minister Ignazio Cassis has met the foreign minister of the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan, in Ticino, southern Switzerland. The working lunch on the Brissago Islands in Lake Maggiore focused on the economy and finance, education, research and innovation, and sustainable development, the foreign ministry said in a statement on Thursday.

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Watchdog extends protective measures at Sberbank Switzerland

2022-08-05

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2022-08-05

The Swiss financial regulator (FINMA) has extended previously imposed protective measures at the Zurich-based subsidiary of Russian bank Sberbank.

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Swiss government seen as lacking team spirit

2022-08-02

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2022-08-02

Nearly two out of three Swiss (64%) believe that Swiss government members do not work smoothly together, according to a survey carried out by the Sotomo research institute.

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Swiss fundraising effort creates tensions with Ukraine

2022-08-01

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2022-08-01

The humanitarian charity Swiss Solidarity raised CHF126 million ($132.4 million) to help Ukrainian refugees and support local journalists. But Ukrainian authorities say they have yet to receive anything and appear to be getting impatient. 

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Switzerland faces shortage of air traffic controllers

2022-07-31

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2022-07-31

Swiss air navigation service provider Skyguide says it is struggling to recruit air traffic controllers, especially in French-speaking Switzerland. Only five people are starting training in September, although there are 16 posts to be filled.

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Swiss National Bank reports massive losses

2022-07-29

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2022-07-29

The Swiss National Bank (SNB) has taken a hit of CHF95.2 billion ($100 billion) for the first half of this year, mainly owing to losses on foreign currency positions.

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Swiss sales of medicines to Russia jump during war

2022-07-28

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2022-07-28

Swiss exports of medicines to Russia have risen sharply since the start of the Ukraine war, according to an analysis by business news agency AWP.

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Lufthansa strike to hit SWISS flights

2022-07-27

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2022-07-27

The Swiss national carrier is cancelling around a dozen flights to Germany on Wednesday, owing to a one-day strike by ground staff at its German parent company Lufthansa.

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Russia threatens Swiss newspaper over Putin caricature

2022-07-18

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2022-07-18

Russia has threatened Swiss newspaper Neue Zürcher Zeitung with legal action after it published critical reports and a caricature of Russian President Vladimir Putin.

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Dairy substitutes filling up Swiss shelves

2022-07-16

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2022-07-16

Plant-based dairy products continue to gain in popularity in Switzerland, with sales of plant-based milk more than doubling since 2017. However, dairy substitutes still occupy a niche in the overall market.

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