EconomyLoop
where regional business news becomes global to everyone

How to save money in Switzerland

There’s no denying that Switzerland is pricey, but there are bargains to be had if you know where to look. We’ve crowdsourced tips from our Facebook community.   Readers often complain about how expensive Switzerland is, and we’ve done many stories ... read more

 SWISS INFO12 hours ago

     
About 250 Swiss citizens land in foreign jails per year

About 250 Swiss citizens are thrown in jail abroad every year, according to foreign ministry figures.  Currently, there are 204 nationals of Switzerland doing time in a foreign prison. Of these, 22 are in France, 20 in Germany, 17 in Spain, 12 in Th... read more

 SWISS INFO14 hours ago
Swiss slap nearly 20,000 fines over labour violations

Swiss authorities sanction on average ten companies per day for violating wage protection rules, according to official figures. That corresponds to 19,200 fines in the span of five years. NZZ am Sonntag published these figures on Sunday on the basis... read more

 SWISS INFO15 hours ago
Banking for Swiss abroad, apprenticeships, and a quiz

Here are some of the stories we'll be following the week of July 23, 2018: Monday In Rüschlikon, on the outskirts of Zurich, researchers at an IBM facility are churning out an array of blockchain projects that go well beyond the original cryptoc... read more

 SWISS INFO17 hours ago
Ancient Greek secrets, mobile phone harm and bridge builder

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 2,000 Using ultraviolet and i... read more

 SWISS INFOYesterday
How Queen Victoria transformed the Swiss tourism industry

Exactly 150 years, Queen Victoria and a small entourage headed to central Switzerland for a five-week getaway. It was the first visit to the Alpine country by a reigning British monarch and left its mark not only on Victoria but also on the Swiss tou... read more

 SWISS INFOYesterday
Rothschild bank sanctioned for role in 1MDB scandal

The Swiss financial regulator has concluded its investigations into the Malaysian 1MDB scandal by finding Rothschild Bank and one of its subsidiaries in serious breach of anti-money laundering regulations. The Swiss Financial Market Supervisory Auth... read more

 SWISS INFO2 days ago
Swiss meat processor, Bell, invests in synthetic meat

This week, Bell, a Swiss meat processor, announced an investment in Dutch synthetic meat start-up Mosa Meat. Mosa Meat, a leader in the market of cultured beef, was co-founded by Mark Post of the University of Maastricht, who is considered to be the ... read more

 LE NEWS2 days ago
Why global elites trust Switzerland with their children

JTCamp operates in a hip Alpine lifestyle hotel that is popular with snowboarders in the winter but elegantly converted into a child and teen haven over the summer. Children check in their mobile phones and valuables on arrival, then plunge into a sc... read more

 SWISS INFO2 days ago
Famed bridge-builder Christian Menn dies

Swiss engineer Christian Menn, a world-class bridge-builder who continued a long tradition of Swiss bridge construction, died on Monday at the age of 91.  Menn, whose death was reported on Thursday, had a decisive influence on Swiss bridge-buildin... read more

 SWISS INFO3 days ago
Would the Swiss starve if all imports were blocked?

If, in a crisis, all imports to Switzerland were stopped, the Swiss population would still be guaranteed enough to eat – although people would have to tighten their belts.  Each citizen would have to get by on 2,340 calories a day, compared with the... read more

 SWISS INFO3 days ago
Wim Wenders to receive Zurich Film Festival tribute

German film director Wim Wenders will be given the “A Tribute to... Award” at the Zurich Film Festival (ZFF) on October 6. The award will include a retrospective of 12 of his most important works.  Wenders, 72, who is also an author, producer and ph... read more

 SWISS INFO3 days ago
Swiss bank settles US tax evasion probe

The Zurich-based Neue Privat Bank (NPB) has paid $5 million (CHF5 million) fine to settle a criminal tax evasion investigation in the United States. NPB is one of a handful of so-called ‘category 1’ Swiss or Swiss-based bank branches that were still ... read more

 SWISS INFO3 days ago
Swiss wealth manager looks at London as Brexit looms

UBP, the Private bank, is about to buy a UK investment boutique in a sign of how Swiss wealth managers intend to increase their London business ready for Brexit. Some Swiss bankers fear the post-Brexit City could snatch business from Geneva as a cen... read more

 SWISS INFO3 days ago
Mobile phone radiation can weaken brain performance

Swiss researchers have confirmed the potentially damaging impact of the frequent use of mobile phones among adolescents. A study found that the so called figural memory performance – the ability to remember abstract forms – can deteriorate if the br... read more

 SWISS INFO4 days ago
Minister talks up business opportunities after Central Asia visit

Following a visit to the region, Economics Minister Johann Schneider-Ammann announced on Wednesday Switzerland’s goal to strengthen mutual economic opportunities in Central Asia as China’s ‘Silk Road’ initiative becomes reality. In an interview with... read more

 SWISS INFO4 days ago
Parliamentarians warn Swiss firms may lose out over Japan-EU trade deal

The wide-ranging free trade deal signed between Japan and the European Union on Tuesday is likely to put pressure on Swiss industrial companies and farmers which export to the Asian country, a Switzerland-Japan parliamentary group has declared.  On ... read more

 SWISS INFO5 days ago
Can the City of Peace resolve trade wars?

In the grand corridors of the World Trade Organisation, there is a new sense of urgency.  As Donald Trump ramps up trade tariffs, WTO headquarters, originally designed by Swiss architect George Epitaux in 1923 to house the new League of Nations Inte... read more

 SWISS INFO6 days ago
Uber plans softer Swiss expansion drive

The ride sharing service Uber plans to expand further in Switzerland, but not as aggressively as in the past, Swiss head Steve Salom says in a newspaper interview. Uber is present in Zurich, Basel, Geneva and Lausanne with 300,000 regular customers ... read more

 SWISS INFO7 days ago
New Swiss stock exchange (gingerly) mulls cryptocurrencies

A Swiss digital stock exchange, designed to trade tokenised assets from next year, is playing coy on cryptocurrencies and initial coin offering (ICO) tokens that do not qualify as securities. The established financial industry is wary of the new asse... read more

 SWISS INFO7 days ago
World Cup winners and losers – off the pitch

As the 2018 football World Cup in Russia comes to its dramatic end, it’s clear that winners and losers exist off the pitch as well as on it. Swiss photographer Kostas Maros met some of them in Basel. Winners Michael Heim, Felix Labhart and Luk... read more

 SWISS INFO8 days ago
Drone incidents on the rise

The number of drones seen by pilots or air traffic control in airspace rose sharply last year, officials say. The news comes shortly after a near miss between a drone and plane over Bern. There were 85 reports of drones high in the skies in 2017, t... read more

 SWISS INFO9 days ago
EU migration into Switzerland down significantly in 2017

Net migration into Switzerland from the EU was down by 11% last year, according to the State Secretariat for Economic Affairs (SECO). In 2017, a net 31,250 people from the EU and EFTA moved to Switzerland. And, with a 4% decline in the number arrivin... read more

 LE NEWS10 days ago
The large tax differences between Swiss cantons

In Switzerland, tax is largely determined by the canton of residence. The range of tax rates is wide. In 2017, a single person earning CHF 100,000 paid only CHF 7,592 in the canton of Zug but CHF 19,233 in the canton of Neuchâtel, more than 2.5 times... read more

 LE NEWS11 days ago
A new model for Swiss innovation

??????? On Tuesday, the World Intellectual Property Organization named Switzerland the most innovative country for the eighth year in a row. André Kudelski, president of the newly rebranded Swiss innovation agency Innosuisse, spoke earlier this year... read more

 SWISS INFO11 days ago
Glencore: an audacious business model in the dock

In a sleepy Swiss town 30km from Zurich sits one of the companies that keeps the global economy ticking, supplying the raw materials that touch every facet of modern life from mobile phones to automobiles and petroleum. Since its creation 44 years a... read more

 SWISS INFO11 days ago
WIPO crowns Switzerland as world’s most innovative nation

Switzerland retained its crown as the world’s most innovative country for the eighth year in a row, according to the World Intellectual Property Organization (WIPO) – the global intellectual property agency. Switzerland came top of the innovation li... read more

 SWISS INFO12 days ago
Crypto-finance beyond the ‘boom’

Traditional financial players should not violate the core values of crypto-finance, such as decentralisation and community, as they delve deeper into the new digital world, argues Alexis Roussel, co-founder and CEO of Swiss crypto exchange Bity.com. ... read more

 SWISS INFO12 days ago
How a behemoth crypto trading platform could impact Switzerland

swissinfo.ch asks what a new Swiss stock exchange, fusing the worlds of traditional and crypto finance, will mean for the burgeoning home-grown blockchain industry. What is the SIX Digital Exchange? It is a new trading platform to be rolled out in ... read more

 SWISS INFO12 days ago
Swiss and Malaysian prosecutors join forces in 1MDB probe

The Swiss Attorney General Michael Lauber has held talks with his Malaysian counterpart to set out how the two countries can enhance cooperation during the global criminal investigation of the Malay 1MDB sovereign wealth fund. Two Swiss banks have a... read more

 SWISS INFO12 days ago
Switzerland files WTO complaint over American steel tariffs

The Swiss State Secretariat for Economic Affairs (SECO) has initiated a dispute settlement procedure with the World Trade Organisation (WTO) against US steel and aluminium import tariffs. In a statement published on Tuesday, SECO announced that a co... read more

 SWISS INFO12 days ago
Kenyan embassy to open in Bern

Alain Berset, who holds the rotating Swiss presidency this year, and Kenyan President Uhuru Kenyatta have discussed efforts to fight corruption as well as healthcare and international affairs. A Kenyan embassy in Bern is set to open later this year. ... read more

 SWISS INFO13 days ago
Controversial accommodation for Swiss cow

A fattening hall for cows will be opened in Neuchâtel despite 13,500 Swiss signing a petition against it.... read more

 SWISS INFO13 days ago
Why the Swiss dump their rubbish in France

French border towns are reacting after a slew of incidents of Swiss residents being caught dumping rubbish across the border in France. "When they come to shop at our supermarkets at the weekends, the Swiss bring their garbage and leave empty-handed... read more

 SWISS INFO13 days ago
Geneva Airport tests revolutionary 3-D baggage scanners

Since July 1, Geneva Airport has been testing two new scanners that can check hand luggage without passengers having to remove liquids or computers – a world first. “We are the only airport in the world to have them. Hong Kong has bought some but h... read more

 SWISS INFO14 days ago
Germany alleged to have spied on Swiss firms in Austria

A dozen branches of Swiss firms in Austria were targeted by German spies between 1999 and 2006, according to the SonntagsBlick newspaper which has seen documents belonging to Germany’s federal intelligence service BND. Part of the data was allegedly ... read more

 SWISS INFO14 days ago
Switzerland’s oldest man – and Roger Federer

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 300,000,000 The amount, in fr... read more

 SWISS INFO15 days ago
Nestlé: Betting on big brands

Mark Schneider pours a can of cold brew Nitro Nescafé coffee in the company’s head office overlooking Lake Geneva, Switzerland. He points out the distinctive cream “head” on the dark liquid. “You see that foam building up!” he exclaims. Testing new ... read more

 SWISS INFO15 days ago
Credit Suisse creates new anti-sexual harassment role

Credit Suisse has carved out a new role to lead its handling of sexual harassment claims and examine group-wide policies, as Switzerland’s second-biggest bank seeks to boost equal opportunities and create a fair treatment environment.  The appointme... read more

 SWISS INFO16 days ago
Whistle-blowing platform SwissLeaks opens for business

SwissLeaks, a Swiss whistle-blowing platform that went online on Friday, should enable people who want to highlight abuses in business, politics and administration to file a report anonymously, its organisers said on Friday.  The SwissLeaks team com... read more

 SWISS INFO16 days ago
Swiss stock exchange to create cryptoasset trading platform

The Swiss stock exchange, SIX Group, says it will create an exchange to trade tokenised digital assets next year. The new service, using distributed ledger technology similar to blockchain, aims to provide a bridge between traditional finance and the... read more

 SWISS INFO16 days ago
TV recording could be under threat in Switzerland

With TV recording there's no need to miss programmes just because they’re on at the wrong time. And, when it's time to watch them, it's easy to fast forward through the adverts, something that can’t be done when watching live. In Switzerland, televis... read more

 LE NEWS17 days ago
Strike suspended by Tamedia staff

A strike by workers from media company Tamedia was suspended on Thursday following a successful offer of mediation by canton Vaud authorities. The strike had begun on Tuesday afternoon, led by staff unhappy about the recently-announced winding down... read more

 SWISS INFO17 days ago
Federer’s Uniqlo deal under scrutiny

The new sponsorship deal between Japanese clothing brand Uniqlo and Swiss tennis star Roger Federer has come under fire from NGOs advocating better conditions for textile workers in South East Asia. The deal between Federer, formerly with Nike, and... read more

 SWISS INFO17 days ago
‘Hidden’ transport costs on the rise

A government study has found that the so-called ‘external costs’ of various modes of transport collectively increased by almost CHF1 billion during the period 2010-2015. For walkers and cyclists, however, benefits outweigh the costs. The study, publ... read more

 SWISS INFO17 days ago
A bleak future for older builders

Over 18'000 construction workers took to the streets of Zurich recently in protest at plans to raise the retirement age and cut pensions. More strikes are threatened. The strike called by the construction unions Unia and Syna came in response to th... read more

 SWISS INFO17 days ago
Thousands of Swiss firms are unregistered

About 13,000 companies are not listed in the commercial register – a serious problem, notes the Swiss Federal Audit Office. Increased cooperation with the tax authorities could be a solution.  On Wednesday the office published an evaluation of how S... read more

 SWISS INFO17 days ago
Swiss Post admits to illicit funding for PostBus company abroad

The state-owned PostBus company has admitted to hiding profits in its operations in neighbouring France in a scandal over illegal subsidies. Swiss Post, the parent company of PostBus, said an investigation confirmed that the financial situation of P... read more

 SWISS INFO18 days ago
Raiffeisen report raises questions for Europe’s co-operatives

In his 16 years as chief executive of Switzerland’s Raiffeisen group, Pierin Vincenz aggressively expanded the country’s third-largest bank by assets.  A network of local co-operative banks, Raiffeisen is the biggest mortgage lender in the affluent ... read more

 SWISS INFO18 days ago
Tour the Swiss flat made from recyclable, compostable...and edible materials

??????? This modern flat doubles as a research project aimed at finding new materials and technologies to help reduce the resources needed for construction. What’s special about this design is its life cycle concept: after a few years, the flat will... read more

 SWISS INFO18 days ago