EconomyLoop
where regional business news becomes global to everyone

All Swiss hepatitis C sufferers can access costly drugs like Harvoni

All patients suffering from hepatitis C can be treated with the drugs Harvoni and Epclusa from next month, after the Federal Office of Public Health lifted restrictions allowing the medicines to be reimbursed by mandatory health insurance. The two ... read more

 SWISS INFO11 hours ago

     
Swiss abroad need Swiss bank accounts

Big Swiss banks should make it easier for Swiss people living abroad to maintain a bank account, finds the Senate.  Senators voted 23 to 14 on Tuesday in favour of a motion to make the five largest Swiss banks provide accounts under reasonable condi... read more

 SWISS INFO13 hours ago
Scam cryptocurrency shut down by Swiss regulator

The Swiss financial regulator has closed down three companies linked to a fake cryptocurrency E-Coin amid fears that investors may have been conned out of millions of francs. The Swiss Financial Market Supervisory Authority (Finma) said the probe is ... read more

 SWISS INFO14 hours ago
The king of chocolate in Mexico

A rags-to-riches career straight out of a film script: as a young man, the protagonist emigrates to Mexico. Once there, he becomes the first ever manufacturer of white chocolate and goes on to become an entrepreneur worth millions. The life of Gianfr... read more

 SWISS INFO16 hours ago
Are India's daughters a good return on investment?

The world’s first private, performance-based investment aims to keep girls in rural India in school. But can projects like the one supported by the UBS Optimus Foundation change societal attitudes that lead to high drop-out rates?  Nani doesn’t have... read more

 SWISS INFO18 hours ago
Occupational pensions, a hidden Swiss treasure

Occupational pension plans, obligatory since 1985, have considerable economic and social significance in Switzerland. The savings, which are now managed by pension funds and insurance companies, far exceed gross domestic product (GDP) and the reserve... read more

 SWISS INFO18 hours ago
Swiss review product labels from Israeli settlements

The government has rejected a proposed import ban on products from Israeli settlements in occupied territories, but agreed to review rules on product labels. In response to a question by the Social Democratic parliamentarian, Carlo Sommaruga, the go... read more

 SWISS INFOYesterday
Swiss tourist industry wins support from parliament

A majority of parliament wants to restrict online reservation platforms in a bid to protect the Swiss hotel sector. The House of Representatives on Monday overwhelmingly approved a proposal and followed the Senate demanding that Swiss hotels will be... read more

 SWISS INFOYesterday
A new cabinet minister, vaccine shortages and Swiss banks in Indian schools

These are the stories on our agenda for the week beginning September 18, 2017. Tuesday Is there a place for private, for-profit investment in the international development sector dominated by governments, non-profits and wealthy donors? We look a... read more

 SWISS INFO2 days ago
Stories making the Swiss Sunday papers

How the loss of banking secrecy has hurt Swiss banks, Neo-Nazis and jihadists in the Swiss army, and the role of language and gender when picking cabinet ministers are all making headlines in Switzerland this Sunday.  Banking secrecy  Swiss banks h... read more

 SWISS INFO2 days ago
‘I prefer to fight to change the system’

With one foot in Switzerland and the other in the US, Jonathan Lachowitz is a cross-border financial planner and advocate for residency-based taxation. His story is the fifth in our series on US expats in Switzerland. As many Americans overseas know... read more

 SWISS INFO3 days ago
Possible buyer for Air Berlin Swiss subsidiary

A potential buyer has been found for Belair, the Swiss subsidiary of insolvent airline Air Berlin, according to Swiss media reports which cite an internal communication to Belair employees. Belair management wrote that there was at least one offer ... read more

 SWISS INFO4 days ago
UNESCO status boosts wine trade in Lavaux

Wine producers in Lavaux, the spectacular wine-growing region on Lake Geneva, have been enjoying a boost in trade since the region on UNESCO World Heritage status ten years ago. (RTS/swissinfo.ch)  Enotourism, that is tourism whose purpose is the t... read more

 SWISS INFO4 days ago
Switzerland leads the way in internet connection

Despite advances in technology, more than half the world’s people still have no access to the internet. Switzerland, on the other hand, has the highest proportion of fixed broadband connections in the world, apart from Monaco.  “Broadband technologi... read more

 SWISS INFO5 days ago
Marmots invade Matterhorn area

“So sweet!”, coo the tourists. “Shoot them,” say the authorities in Zermatt, where marmots have become a plague. The furry rodents are causing damage to meadows and houses.  Visitors to the Matterhorn region love the animals and their warning whistl... read more

 SWISS INFO5 days ago
Swiss Life under scrutiny of US authorities for tax evasion

Insurance firm Swiss Life has announced that it has been approached by the US Department of Justice (DOJ) regarding its cross-border business with US clients.  After going after Swiss banks with a vengeance for abetting tax evasion, it appears that ... read more

 SWISS INFO5 days ago
Swiss should ‘suspend’ tax data transfer to abusive countries

Switzerland should not automatically transmit tax data to countries that abuse new treaties in order to coerce their citizens, the Swiss banking lobby group said on Thursday. Commenting on plans to extend tax data transfer to 43 further countries su... read more

 SWISS INFO5 days ago
Trains are taking the strain, even in Switzerland

“Let the train take the strain,” says an old British Rail slogan. But this is starting to take on a new meaning as rail systems around the world come under more and more stress. Swiss rail, despite its good reputation, is no exception. Rail accident... read more

 SWISS INFO5 days ago
Valais set for smaller harvest but good vintage

The grape harvest has already begun in many French-speaking wine regions in Switzerland – three weeks earlier than normal. The heavy frosty period in April has left its mark on this year's harvest. In canton Valais the grape-picking season has begu... read more

 SWISS INFO6 days ago
Five extra years for Swiss drivers before first medical

Older drivers in Switzerland will enjoy five more years on the road before facing obligatory medical tests. Parliament voted on Wednesday to raise the age from 70 to 75. Following the approval of the House of Representatives, the Senate voted Wed... read more

 SWISS INFO6 days ago
The first all-electric aerobatic trainer aircraft

The first ever first 'Fly-In' has been held in Solothurn, showcasing a range of electric or hybrid-powered aircraft. Frank Anton, head of electric aircraft at Siemens, flew in the Magnus E-Fusion, the first all-electric aerobatic trainer aircraft. (J... read more

 SWISS INFO6 days ago
Atares: the first electric glider to be certified

The Antares motor glider, made by Lange Aviation, was the first electric aircraft to be certified with an electric motor. Karl Olsen developed the software.  (Julie Hunt, swissinfo.ch)... read more

 SWISS INFO6 days ago
Trials with driverless buses to be extended

Swiss Post says it plans to extend trials with self-driving buses following a survey about the attitude of the public towards autonomous vehicles for passenger transport. The polling of 400 people in four cities and towns in different parts of the c... read more

 SWISS INFO6 days ago
Silent aircraft soar through Swiss skies

Electric aeroplane enthusiasts recently met in Switzerland to show off the latest technologies that could influence the air travel of tomorrow. Before the Smartflyer Challenge event – Europe’s first gathering of hybrid and electric aeroplane develop... read more

 SWISS INFO6 days ago
Switzerland ranked second most transparent arms exporter

Germany and Switzerland are the most transparent major small arms exporters, the 2017 Small Arms Survey has revealed. The United States, Italy and Brazil accounted for 40% of all small arms exports in 2014.  After coming fifth in last year’s survey,... read more

 SWISS INFO6 days ago
How valuable are Swiss bees?

What is the economic value of the Swiss bee? For the first time, scientists have put a figure on their important work transporting pollen between flowering plants. Experts at the government's agriculture research centre, Agroscope, have calculated t... read more

 SWISS INFO6 days ago
Swiss super-rich want slice of cryptocurrency boom

Who are the investors eager to bet on bitcoin, and what plans do they have for their newly minted digital assets?  “There is only one type of crypto investor – one who wishes they had bought more,” Bitcoin Suisse founder Niklas Nikolajsen told swiss... read more

 SWISS INFO6 days ago
Support for pension reform slips slightly

A controversial old-age pension reform has been losing ground ahead of a nationwide vote on September 24. An opinion poll shows the outcome remains wide open. Compared with a previous survey by the GfS Bern research and polling institute in mid-Augu... read more

 SWISS INFO6 days ago
Swiss price watchdog has reservations about Booking.com

The Swiss price watchdog has initiated proceedings against Booking.com, the online travel fare aggregator, after finding signs of “price abuse” concerning commissions that hoteliers have to pay in Switzerland.  Stefan Meierhans, the federal price wa... read more

 SWISS INFO7 days ago
Are Swiss women privileged in Europe?

The increase in the retirement age for women from 64 to 65 is one of the most controversial issues in the overhaul of the Swiss old age security system, which is due to be put to a national vote on September 24. Swiss women are among the few in Europ... read more

 SWISS INFO7 days ago
Swiss mobile roaming charges - a glimmer of hope

Switzerland’s federal council, the country’s seven-person executive or cabinet, has come up with a plan to cut those exorbitant mobile roaming phone bills that many of us return home to after trips abroad, an experience which hurts even more now roam... read more

 LE NEWS7 days ago
Swiss prosecutor widens probe into commodities trader Gunvor

The Office of the Attorney General of Switzerland has expanded a bribery investigation into the activities of a former employee of the Swiss commodities trader Gunvor Group.  Gunvor, one of the world’s largest independent oil and energy traders, sai... read more

 SWISS INFO7 days ago
Pilot action forces Air Berlin cancellations

The airline Air Berlin has cancelled around 70 flights, including some at Zurich Airport, because of a pilot protest over the airline’s uncertain future. A spokesperson for the carrier said that an unusually high number of pilots had called in sick ... read more

 SWISS INFO7 days ago
Parliament gives boost to expats’ banking woes

The House of Representatives voted massively on Monday in favour of guaranteeing the right of Swiss citizens living abroad to hold PostFinance credit cards. The debate will move on to the Senate. Some 178 parliamentarians supported the proposal, ... read more

 SWISS INFO8 days ago
Swiss take part in Volkswagen class action suit

How best to gain compensation for Swiss car buyers affected by the Volkswagen diesel scandal? While the Consumer Protection Association for French-speaking Switzerland (FRC) is taking part in a European class action lawsuit in Germany, its equivalent... read more

 SWISS INFO8 days ago
Foreign minister urges full implementation of arms treaty

States must focus more effort on fully implementing the landmark Arms Trade Treaty (ATT), which was adopted four years ago, Swiss Foreign Minister Didier Burkhalter said on Monday.  “Over the past two years there has been progress [regarding the ATT... read more

 SWISS INFO8 days ago
On the trail of big data

A record number of visitors – 30,000 – turned out for the biannual science days hosted by the University of Zurich and the Swiss Federal Institute of Technology ETH Zurich.  Over the course of three days, some 300 researchers welcomed visitors at 60... read more

 SWISS INFO10 days ago
Fewer planes carry more passengers

Some 52 million passengers took off, landed or transited via Swiss airports last year. But while the number of passengers continues to soar, there are fewer planes in operation than in 2000.  In 2016, Switzerland's national airports in Zurich, Genev... read more

 SWISS INFO10 days ago
Credibility of Swiss media ‘surprisingly stable’

A qualitative study reveals that on average, Swiss media inspire a consistently high degree of confidence in consumers across age groups and regions. The results come from the 2017 edition of the annual MediaBrands study conducted by Zurich-based c... read more

 SWISS INFO11 days ago
Zurich airport to pilot face recognition system

Passengers going through passport control at Zurich airport this autumn will be asked to test a new biometric face-scanning system – on a voluntary basis. From September 27, the airport will trial eight scanning machines which aim to improve securit... read more

 SWISS INFO11 days ago
Red Cross launches new bond to tap private money

The Swiss-run International Committee of the Red Cross (ICRC) has launched the world’s first ‘Humanitarian Impact Bond’, which encourages private sector investment in humanitarian programmes. The innovative “payment-by-results” model centres on a fi... read more

 SWISS INFO11 days ago
Chiasso accepts tax payments in bitcoin

Switzerland ramped up its bid to become a global hub for financial technology (fintech) and cryptocurrency start-ups with the decision by a town on the Italian border to accept tax payments in bitcoin. Chiasso announced that it would take bitcoin to... read more

 SWISS INFO11 days ago
Hard times continue for Swiss private banks

Over half of private banks in Switzerland analysed by KPMG last year experienced net outflows of client cash. In a difficult period for finance, many could be forced to shut down or be bought out. “Implement truly radical change, or continue to s... read more

 SWISS INFO12 days ago
Whose fault is food waste?

... read more

 SWISS INFO12 days ago
Government plans to tackle high roaming charges

A revised telecoms law proposed by the Swiss government on Thursday could bring about a swath of changes for consumers. Roaming charges and cold-calling are notably set to drop. Switzerland is one of the most connected countries on the planet, bu... read more

 SWISS INFO12 days ago
SWISS waives rebooking fees as Irma surges towards Florida

Swiss International Airlines is waiving rebooking fees for passengers travelling to or from six airports in Florida and the Caribbean as Hurricane Irma bears down on the region.  Karin Müller, a spokesperson for SWISS, said the airline’s waiver poli... read more

 SWISS INFO12 days ago
Switzerland opens new recycling plant amid market changes

??????? As Switzerland inaugurates its newest and largest plant for paper recycling, the share of cardboard is on the rise because the Swiss are reading fewer newspapers and ordering more parcels online. Recycling City, which opened near Bern on T... read more

 SWISS INFO12 days ago
Feeling the energy in Astana

Expo 2017 in Astana, Kazakhstan, hasn’t had much European media exposure, but Switzerland and its neighbours are there with eye-catching pavilions. The Kazak capital was chosen to host Expo 2017, and the site of the world’s fair is the way the cit... read more

 SWISS INFO12 days ago
Crypto piggybank foundations proliferate in Zug

Around a quarter of the $1.5 billion (CHF1.45 billion) raised by cryptocurrency crowdfunding ventures this year has found its way to Swiss foundations. Many people on social media channels are crying foul, but is there anything sinister behind half a... read more

 SWISS INFO12 days ago
The number of Swiss brewers continues to rise despite declining beer consumption

A recent report shows a 2% drop in average Swiss beer consumption in 2016. Over the last 20 years it has dropped 4% to 54.9 litres per person. On its own this would be no cause for alarm, however in 2016, the number of breweries in Switzerland rose b... read more

 LE NEWS13 days ago