EconomyLoop
where regional business news becomes global to everyone

Shapeshift aims to reinvent Swiss banking secrecy

If cryptoassets are ever to fill the gaping hole left by the now-defunct Swiss banking secrecy system, then look no further than the ultra-discreet exchange platform Shapeshift, which has quietly operated out of Zug’s Crypto Valley for the last three... read more

 SWISS INFO59 minutes ago

     
Swiss sex shop loses legal battle over 'Harry Popper' condoms

A Swiss sex shop chain must pay back CHF160,000 (USD 161,000) in profits to the entertainment company Warner Brothers due to trademark infringements, the Federal Court has ruled on Wednesday.  The court's decision confirms an earlier ruling by a ca... read more

 SWISS INFO14 hours ago
Switzerland has most expensive food and drinks in Europe

Switzerland has been ranked the second-most expensive European country behind Iceland for consumer goods, which are 59% higher than the European Union average. Food and non-alcoholic drinks are particularly pricey.  For the third year in a row, Swit... read more

 SWISS INFO18 hours ago
Foreign property purchase rules left unchanged

The government has decided to abandon plans for tighter restrictions on real estate purchases in Switzerland by foreigners living abroad. Most political parties, organisations and cantons opposed the plan, which was submitted for consultation, accor... read more

 SWISS INFO19 hours ago
Driving licence loses attraction for young Swiss

The number of people who applied for a Swiss driving licence dropped by 2% last year, with applications from 18- to 24-year-olds down 3%.  Some 5.8 million people owned a driving licence for cars in 2017, the Federal Roads Office said on Tuesday. Th... read more

 SWISS INFOYesterday
French government freezes assets of Hani Ramadan

The French government has frozen the assets of controversial Swiss imam Hani Ramadan as part of the fight against the financing of terrorism.  His assets have been frozen for six months, according to the decree published on Sunday in the official Fr... read more

 SWISS INFOYesterday
A very invasive oil

Indonesia earns millions as the world's largest palm oil producer. On the island of Sumatra, Swiss researcher Thomas Guillaume analyses the heavy toll palm oil production is taking on the environment.... read more

 SWISS INFOYesterday
Swiss annual forecast predicts sustained economic growth

The State Secretariat for Economic Affairs (SECO) says that Switzerland is currently experiencing an “increasingly broad-based upswing”, predicting that its economy will continue to grow by 2.4% in 2018. The federal government’s expert statistics pu... read more

 SWISS INFO2 days ago
Rail workers stand against proposed cuts

Some 1,400 rail workers took to the streets across the country on Monday to protest a package of cuts and reforms planned by the Swiss Federal Railways. The demonstrations, called for by the Union for public transport workers (SEV), were spread acr... read more

 SWISS INFO2 days ago
Swiss offshore wealth management sector still world’s largest by far

A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector. Total personal offshore wealth grew by 6% to reach US$8.2 trillion in 2017. US$2.3 trillion (28%) of this was managed in Switzerl... read more

 LE NEWS3 days ago
Ken Loach on wealthy Switzerland and how to film capitalism

British film director Ken Loach, known for his bleak social critiques, discusses his informative experiences and whether he's an 'angry old man'.... read more

 SWISS INFO3 days ago
FINMA: Raiffeisen board should have stopped CEO

Mark Branson, chief executive of Swiss financial watchdog FINMA, says that the board of the scandal-hit Raiffeisen bank should have controlled its CEO more.  He made his comments in an interview to the NZZ am Sonntag newspaper. They follow on from T... read more

 SWISS INFO3 days ago
Vice-chairman of Swiss Post resigns

The vice-chairman of the board of Swiss Post, Antonio Vassalli, will step down at the general assembly on June 26, it was announced on Saturday evening. In a personal press release sent to various media outlets, Vassalli, who also chairs the company... read more

 SWISS INFO4 days ago
‘Big differences between the law and reality’

How does a Swiss person integrate in Russia? Having Russian friends and an interest in local history, culture and sport can help, says 45-year-old Daniel Rehmann, a businessman representing Swiss expatriates living in Russia. swissinfo.ch: Why did y... read more

 SWISS INFO4 days ago
Pop-up hotels in the countryside

Would you pay CHF200 to sleep in a transparent bubble-shaped tent?  Swiss people seem to love the idea. (SRF/swissinfo.ch) These temporary hotel "rooms" are often placed in farm fields, so the guests can see sheep grazing at close proximity. Tempora... read more

 SWISS INFO4 days ago
Stray cats, dates of birth and overseas wealth

Almost every article published by swissinfo.ch contains a percentage, an age, an amount of money or some other figure. Here’s a round-up of the most interesting statistics to appear in the past week’s stories. Monday 108 The number of years Basel... read more

 SWISS INFO4 days ago
Swiss government to relax rules on arms exports

The Swiss government has decided to relax the rules on arms exports, making exports to countries with an internal armed conflict possible under certain conditions.  The law currently bans arms exports to a country if it is involved in an internal or... read more

 SWISS INFO5 days ago
Age for medical tests for drivers raised to 75

The age at which older drivers must take a medical will be raised by five years to 75. The government has announced that the change will become law from January 1. The tests for 75-year-old drivers will have to be repeated every two years, a govern... read more

 SWISS INFO5 days ago
Switzerland's parliament narrowly votes for women’s quotas on company boards

Yesterday, Switzerland’s National Council, or parliament, voted 95 to 94, with 3 abstentions, to introduce quotas for the management and boards of quoted companies. Boards will be required to have 30% women and management teams 20%. The rules could a... read more

 LE NEWS6 days ago
Switzerland remains biggest offshore wealth centre

The stock market boom boosted personal financial wealth around the globe by 12% last year – to the benefit of Switzerland. It is still the world’s biggest centre for managing offshore wealth at $2.3 trillion (CHF2.3 trillion). Figures revealed in a... read more

 SWISS INFO6 days ago
Trust rising in news ecosystem, Reuters finds

Long-term media trends remain stable, but trust and a willingness to pay for content is slightly up in Switzerland this year, according to the Reuters Digital News Report. Published on Thursday, the annual overview of online news across almost 40 c... read more

 SWISS INFO6 days ago
Swiss firms lack ‘unified approach’ on business and human rights

Companies in Switzerland are quite active when it comes to corporate social responsibility, but a common approach is lacking and many large firms are unfamiliar with their international human rights obligations, says business ethics campaigner Chanta... read more

 SWISS INFO6 days ago
Switzerland’s biggest airport turns 70

It’s exactly 70 years since the first flight took off from the brand new tarmac of Zurich Airport. We take a look back at the development of what has since become the biggest airport in Switzerland. On June 14, 1948, a ceremony took place at Zurich... read more

 SWISS INFO6 days ago
Art Basel 2018: fast and furious

The number of living artists who have seen their work fetch $20 million (CHF19.7 million) is very, very small. A highly significant addition to that super-select band is the Chicago-based African-American Kerry James Marshall, whose 1997 work “Past T... read more

 SWISS INFO7 days ago
Swiss firms pushed to put Tehran dreams on hold

Euphoria at the prospect of big business in Iran was short-lived. As a result of the new sanctions imposed by the United States on the Islamic Republic, Swiss companies are beating a retreat. China stands ready to step in and fill the void. In early... read more

 SWISS INFO7 days ago
Financial watchdog accuses Raiffeisen of major governance failings

The Swiss Financial Market Supervisory Authority (FINMA) has concluded its investigation into Swiss bank Raiffeisen, saying it identified “serious shortcomings” in governance.   “FINMA has found that the bank’s handling of conflicts of interest was ... read more

 SWISS INFO7 days ago
Responsible Business debate could cause ripple effects globally

A decision by the Swiss parliament this week on an initiative to hold companies accountable for their impacts on human rights and the environment could send a message on how far governments are willing to go. Set for Thursday in the House of Represe... read more

 SWISS INFO7 days ago
Former Swiss banking boss released from custody

The former chief executive of Raiffeisen bank in Switzerland, Pierin Vincenz, has spoken out against his 15-week confinement behind bars. Vincenz was released on Wednesday but still faces a criminal investigation into alleged fraud, which he denies c... read more

 SWISS INFO7 days ago
Swiss health costs set to exceed CHF10,000 per person

The average Swiss will for the first time spend more than CHF10,000 ($10,159) on health care in 2018 and 2019, according to an economic research institute and think tank.  KOF, part of the federal technology institute ETH Zurich, says this is down t... read more

 SWISS INFO8 days ago
Switzerland at risk of skilled labour shortage

The record-low unemployment rate of 2.4% is expected to lead to a shortage of skilled professionals. Some industries and businesses are already feeling the squeeze.  Last May, 110,000 people were registered as unemployed – 18% less compared with the... read more

 SWISS INFO8 days ago
Initiative to end factory farming Switzerland launched

Animal rights groups and environmental organisations launched a popular initiative to ban intensive, large-scale livestock farming on Tuesday. They have 18 months to collect the required 100,000 valid signatures. The “No factory farming in Switzerl... read more

 SWISS INFO8 days ago
Vaud plans tax cuts

Last week, Vaud’s government announced a plan for future tax cuts. The residents of Vaud are among the highest taxed in Switzerland. In 2016, a single person in Lausanne earning CHF 100,000 paid CHF 16,050 in cantonal and communal tax on top of CHF 1... read more

 LE NEWS8 days ago
Swiss put onus on casinos and politics after gambling law vote

Commentators in the Swiss press say that by endorsing a law to ban offshore casinos from offering online gambling in Switzerland, voters have opposed industry experiments. Casinos and politics must now act, they wrote, but doubt that blocking website... read more

 SWISS INFO9 days ago
Swiss PostBus’s entire management dismissed

All of the managers of Swiss PostBus have been discharged over a loss of trust following the subsidies scandal. Swiss Post Chairman of the Board Urs Schwaller said on Monday that he was “shocked” at the amount of effort invested into manipulating ac... read more

 SWISS INFO9 days ago
Scent of success for Contexa’s liquid dosing robots

Home to two of the world’s largest manufacturers of flavours and fragrances, Geneva has also developed a vibrant ecosystem of innovative SME servicing them: one such company is Contexa, world leader in automated liquid dosage machines. Located in Li... read more

 SWISS INFO10 days ago
The Nestlé story

Nestlé has a long history in Switzerland, but how Swiss is it nowadays?... read more

 SWISS INFO11 days ago
Swiss unlikely to buy ‘sovereign money’ proposal

Voters look set to reject a radical overhaul of the Swiss financial system that calls on the central bank to take total control of money supply and bring commercial bank lending under tighter control. The ‘sovereign money’ initiative may have captur... read more

 SWISS INFO11 days ago
Reform of Swiss gambling law set for voter approval

Voters have the final say on a ban on casinos operating online and located outside Swiss borders. The proposal is part of an overhaul of the country’s gambling law that also includes measures against addiction. Parliament approved the reform last ye... read more

 SWISS INFO11 days ago
Mousetrap: the Swiss whodunnit

She already has 90,000 dead to her credit and is hunting more. Kathrin Hirsbrunner is Switzerland's only professional mouse trapper. Hirsbrunner's target: voles that destroy farmers' crops. But her lethal skills are also in demand at airports. A sc... read more

 SWISS INFO12 days ago
Swiss threaten to freeze out EU stock exchanges

Switzerland has threatened tit-for-tat measures if the European Union refuses to allow the Swiss stock exchange to fully operate in the EU market on a permanent basis. EU exchanges would be hit with similar restrictions by Switzerland, warned Swiss F... read more

 SWISS INFO12 days ago
Researchers strive to make solar energy sustainable

Swiss researchers warn that the solar energy industry needs to become more sustainable. The Energy Storage Centre of the Bern University of Applied Sciences is developing business models to improve the management of resources in the solar sector with... read more

 SWISS INFO12 days ago
‘Much too early’ to lift interest rates, says SNB chairman

The continued volatility surrounding the Italian elections and the threat of global trade wars make it far too early for the Swiss National Bank (SNB) to consider raising rock bottom interest rates, says chairman Thomas Jordan. “It’s much too early ... read more

 SWISS INFO12 days ago
Switzerland sees greatest economic benefits from globalisation

Despite concerns about the dangers of globalisation in many industrialised countries, a study published Friday shows that industrialised countries reap the greatest economic profits from increased global interconnectedness.??????? The study, which w... read more

 SWISS INFO13 days ago
Swiss unemployment continues to fall

The number of registered unemployed in Switzerland dropped by 9% in May 2018 to a rate of 2.4%, down from 2.7% in April, according to a report by the State Secretariat for Economic Affairs (SECO). The rate in May 2018 was 22% lower than in May 2017. ... read more

 LE NEWS13 days ago
Swiss physicist wins European Inventor Award for laser technology

The European Patent Office (EPO) has presented Swiss physicist Ursula Keller with a European Inventor Award in the “Lifetime achievement” for her pioneering work on ultra-fast laser technology.  "Ursula Keller has dedicated her career to research an... read more

 SWISS INFO13 days ago
Winter tourists come in droves for snow and a weak franc

Good snow conditions and a weakening franc helped to boost tourism in Switzerland this winter, as foreign tourists flocked in large numbers to the Alpine nation. Data released by the Federal Statistical Office (FSO) on Thursday showed 16.5 million ... read more

 SWISS INFO13 days ago
From drugs to food: delivering sensitive goods safely

A Swiss company that makes high-tech air freight containers to transport delicate medicines is getting its teeth into into the food sector. Swiss Containers is teaming up with Dutch packaging firm Schoeller Allibert to venture into the booming market... read more

 SWISS INFO13 days ago
Money for nothing?

SwissPublic Television SRF spoke to residents of Rheinau about the basic income experiment. Residents seem unsure what they would be letting themselves in for. (SRF, swisisnfo.ch)... read more

 SWISS INFO13 days ago
Le Matin tabloid becomes first Swiss daily to go 100% digital

The popular French-language Le Matin tabloid, founded in 1893, is set to print its final paper edition on July 21. The change, caused by financial troubles, may result in up to 40 job losses. The title will continue to exist online, becoming the firs... read more

 SWISS INFO13 days ago
Swiss jobless rate drops to 2.4%

The unemployment rate in Switzerland has reached a new nadir – just 2.4%, according to latest official statistics. The number of jobseekers is the lowest it has been since the financial crisis. The statistics, published by the State Secretariat for... read more

 SWISS INFO14 days ago