EconomyLoop
where regional business news becomes global to everyone

Swiss franc still highly valued, but no policy change

The Swiss franc, investment in arms, and the housing market were some of the issues the government discussed with the chairman of the Swiss National Bank. SNB chairman Thomas Jordan told the government that he sees the Swiss currency as highly value... read more

 SWISS INFO9 days ago

     
It's survival of the biggest for Swiss mountain resorts

To beat the competition, popular mountain destinations are investing in glitzy new infrastructure to pull in the punters. As the ski season begins so does competition to attract skiers to the slopes.  The largest ski resorts are investing large amou... read more

 SWISS INFO10 days ago
‘Lighthouse’ planned for Swiss mountain top

Plans have been presented to upgrade a popular tourist destination on a mountain top in central Switzerland. As part of the CHF100 million ($100 million) project on the Titlis, a building made of steel and glass will be added to the existing tower f... read more

 SWISS INFO11 days ago
‘Yes’ in the name of animal welfare

The health and well-being of animals is the main motivation behind a proposed constitutional amendment which calls for financial incentives to encourage farmers – though not to compel them – to have cows with horns. Green Party parliamentarian Michae... read more

 SWISS INFO11 days ago
The initiative? No need to take the cow by the horns

The cow horn initiative is unnecessary and could stir up dissension among farmers, warns Pierre-André Page, parliamentarian from the conservative right Swiss People’s party and a farmer himself. For ten years, I bred horned cows. For the past 20 yea... read more

 SWISS INFO11 days ago
FINMA sets tough restrictions on bank bitcoin trading

Cryptoassets like bitcoin should be risk weighted at eight times their market value when banks calculate loss-absorbing capital buffers, according to a confidential letter from the Swiss financial regulator seen by swissinfo.ch. The Swiss Financial ... read more

 SWISS INFO11 days ago
Swiss worry about humanitarian impact of US Iran sanctions

Switzerland has asked the United States to ensure the flow of humanitarian goods to Iran following the re-introduction of economic sanctions on the Middle Eastern country. The Trump administration is warning countries not to do business with more th... read more

 SWISS INFO11 days ago
One million Swiss exposed to harmful noise pollution

One in seven people in Switzerland has to put up with excessive noise pollution, particularly from road traffic, according the Federal Office for the Environment. Some 1.1 million residents are exposed to traffic noise that exceeds legal limits, the... read more

 SWISS INFO11 days ago
‘I came here for the job opportunities’

Having lived in Brazil for ten years, Stephan Buser moved to the United Arab Emirates (UAE) with his family a few years ago. The 45-year-old Swiss appreciates the coexistence of the different cultures in the metropolis Abu Dhabi.  swissinfo.ch: Why ... read more

 SWISS INFO12 days ago
Federal office decides drug price cuts

There will be an average drop of almost 20% in the price of 288 medicines from December 1, the Federal Office of Public Health says. Savings of around CHF100 million ($100 million) are expected. The move comes at a time of debate over the high cost... read more

 SWISS INFO14 days ago
Plans unveiled for Lake Zurich cablecar

Zurich Cantonal Bank has presented plans for a cablecar link crossing over Lake Zurich, which it plans to build to help mark the bank’s 150th birthday in 2020. A request for approval has now been filed with the Federal Office of Transport (FOT), the... read more

 SWISS INFO14 days ago
Swiss pension funds feel society’s pull

The fallout from the deadliest garment factory accident in history shows the role that investors can have in changing business practices. Pressures have mounted on traditionally conservative Swiss pension funds to make an impact of their own. In Apr... read more

 SWISS INFO14 days ago
Geneva aims for a new company tax rate of 13.79%

According to bilan.ch, Geneva’s Council of State, or executive, has put forward a proposed corporate tax rate of 13.79% as part of its tax reform project, work triggered by international pressure on Switzerland and its cantons to remove preferential ... read more

 LE NEWS14 days ago
Google staff in Zurich join global walk-out

Thousands of Google employees and contractors in Asia, the United States and Europe – including in Zurich – have staged brief walk-outs amid complaints of sexism, racism and unchecked executive power in their workplace.  “This is Google. We solve th... read more

 SWISS INFO15 days ago
How to run a Swiss business - a guide to 7 essential tasks

Once a business is established, there are many ongoing administrative tasks required by law. The main ones are covered in this article. The first few relate to employees and the rest to taxation and other essential administrative tasks. 1. Social ins... read more

 LE NEWS16 days ago
Government proposes CHF11.9bn plan to ease rail congestion

The Federal Council has increased the amount it wants to put toward accommodating ever-growing demand across Switzerland’s railway network by 2035. Following a consultation procedure, the government announced Wednesday a revised CHF11.9 billion ($11... read more

 SWISS INFO16 days ago
Crypto bond catapults Swiss franc onto blockchain

A new bond has been launched in Switzerland to help investors and blockchain start-ups escape the volatility of cryptocurrencies. Issued by Swiss Crypto Tokens, the bond is a representation of the safe haven currency on the blockchain. The first 10... read more

 SWISS INFO16 days ago
R&D spending hits global record but shrinks in Switzerland

Although worldwide research and development (R&D) expenditures have reached an all-time high of $782 billion (CHF786 billion), budgets in Switzerland have declined by 10%. Those are the latest findings from the PwC auditing and consulting firm, rele... read more

 SWISS INFO16 days ago
Top finance ministry official to step down

The State Secretary for International Finance, Jörg Gasser, is to step down in February after three years in office.  It was Gasser’s decision to leave the post, according to a statement by the finance ministry on Wednesday.  Among his most importa... read more

 SWISS INFO16 days ago
Bullet-proof bitcoin battles through first ten years

Ten years ago today, the pseudonymous Satoshi Nakamoto presented bitcoin to the world in a famous White Paper. In the intervening decade, bitcoin has seen boom and bust cycles, spectacular heists and fraud, has spawned thousands of imitators, a new w... read more

 SWISS INFO16 days ago
Government to postpone arms exports

Economics Minister Johann Schneider-Ammann says he will ask the government to postpone plans to ease Swiss weapons exports following widespread public criticism.  “We discussed the pros and cons and concluded that it would be neither realistic nor i... read more

 SWISS INFO16 days ago
More Swiss construction workers go on strike

Following strikes in Ticino and Geneva earlier this month, 1,500 construction workers have continued the protest in French-speaking Switzerland.  According to the labour unions, more than 1,500 workers from cantons Freiburg, Neuchâtel, Valais and Ju... read more

 SWISS INFO17 days ago
How healthy are the Swiss?

Overall, the Swiss drink much less alcohol every day than they did 25 years ago – with the exception of the over-65s. But among teenagers and young adults, especially women, binge drinking has become commonplace, a new health survey reveals.  These ... read more

 SWISS INFO17 days ago
Former Swiss banker sentenced for money laundering in Venezuela

A former Swiss banker has been sentenced to 10 years in prison for his role in a plot to launder $1.2 billion (CHF1.2 billion) from Venezuela's state-owned oil company. The case also implicates President Nicolas Maduro's stepsons. The former Julius ... read more

 SWISS INFO18 days ago
Should the ILO maintain financial ties to the tobacco industry?

The Geneva-based International Labour Organization (ILO) is once again facing pressure to review its relationship with the tobacco industry. This week the United Nations agency is set to decide on its partnership deals aimed at ending child labour in... read more

 SWISS INFO18 days ago
Critics of Mercosur deal name conditions for support

A coalition of Swiss farming organisations, consumers and NGOs says it is in favour of a free trade agreement between Switzerland and the four Mercosur countries: Argentina, Brazil, Uruguay and Paraguay. But it is demanding binding criteria concernin... read more

 SWISS INFO18 days ago
Smart Valor tackles cryptocurrency volatility problem

Cryptoasset trading platform Smart Valor plans to launch a new cryptocurrency pegged to the Swiss franc. The CHFt coin will join a growing list of so-called ‘stable coins’ designed to dampen the huge price swings of cryptocurrencies, such as bitcoin,... read more

 SWISS INFO18 days ago
Kidnapped sailors freed from Swiss vessel

The 12 crew members, kidnapped from a Swiss merchant vessel in Nigerian waters in mid September, are now free, Swiss justice authorities have said. The move came after the ship’s operator Massoel Shipping was able to negotiate with the pirates who ... read more

 SWISS INFO19 days ago
Media: Saudi soldiers said to be using Swiss arms in Yemen conflict

Swiss weapons are being used by Saudi soldiers in the Yemen conflict, the SonntagsBlick newspaper has said. It has backed up its allegations with a photo. The photograph in question, said to show Saudi soldiers holding two weapons made in Switzerlan... read more

 SWISS INFO19 days ago
PostBus may lose some routes after scandal

The state-owned PostBus company is threatened with losing bus routes in several regions, following a scandal over illegal subsidies. Jura is the first canton that will put its 38 routes out to tender next spring, SonntagsZeitung has reported. “We... read more

 SWISS INFO19 days ago
Pilatus denies wrongdoing over Saudi contract

Swiss aircraft manufacturer Pilatus has rejected allegations that it did not properly inform the Swiss foreign affairs ministry about a deal to provide logistic support to the Saudi army. In an interview published in the Zentralschweiz am Sonntag a... read more

 SWISS INFO19 days ago
The female brain, a decade of bitcoin and Red River Swiss

Here are some of the stories we’ll be following the week of October 29. Monday A century ago, a General Strike over poor working and living conditions in Switzerland brought the country to the brink of civil war. We’ll look at the history of the ... read more

 SWISS INFO19 days ago
How an apprenticeship trumps college

While most of his peers opted for college, Simon Mitchell went for a Swiss-style apprenticeship at tech firm Bühler in North Carolina that allowed him to earn and learn – and left him with no debts. But these kind of apprenticeships are still rare in... read more

 SWISS INFO19 days ago
Simon Mitchell on life in Uzwil

Recently graduated Bühler US apprentice Simon Mitchell has been visiting Bühler headquarters in Uzwil in Switzerland. It's a long way from North Carolina to northern Switzerland, but there are still many similarities, particularly within the technol... read more

 SWISS INFO19 days ago
When you don’t pay your taxes and it’s the taxman’s fault

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 1.42 billion That's the am... read more

 SWISS INFO20 days ago
ABB invests $150 million in robot factory in Shanghai

Robots will make robots at an innovative $150 million (CHF150 million) ABB factory to be built in China, the Swiss engineering group announced on Saturday. The move is designed to defend the company’s place as the country's largest maker of industr... read more

 SWISS INFO20 days ago
Government looks into Pilatus Saudi contract

The foreign affairs ministry says it is examining a controversial contract signed by Swiss aircraft manufacturer Pilatus in Saudi Arabia. The company is reported to have not told the department that it was providing logistic support to Saudi forces. ... read more

 SWISS INFO21 days ago
Questioning of UBS financier in China rattles private banking

Asia’s fast-growing private banking sector has been shaken by the news that a UBS banker visiting China has been told by the authorities not to leave the country, casting a shadow over the opportunity presented by China’s large and expanding pool of ... read more

 SWISS INFO21 days ago
Digital world gets its own open day

Switzerland has been holding its second “Digital Day”, showcasing to the public the opportunities and the challenges of digitalisation – in a country that is still a little suspicious of the concept. “Switzerland is not a country of revolution but ... read more

 SWISS INFO21 days ago
Switzerland expecting a 2.5 billion franc federal surplus for 2018

The latest figures forecast Switzerland’s federal spending for 2018 will be CHF 0.9 billion less than expected. This and higher than expected receipts of CHF 1.3 billion add up to an extra CHF 2.2 billion on top of an original budget surplus of CHF 0... read more

 LE NEWS21 days ago
Richemont and Alibaba join forces to target China

Swiss luxury group Richemont and Chinese group Alibaba are going into partnership to go after the Chinese retail market, Richemont said on Friday. The strategic partnership will feature retail offerings of Yoox Net-a-Porter Group (YNAP), the online ... read more

 SWISS INFO21 days ago
César Ritz, ‘the king of hoteliers and the hotelier of kings’

César Ritz died exactly 100 years ago, having created a hotel empire and changed the lexicon of luxury. Not bad for the 13th child of a Swiss mountain farmer.  “If you’re blue and you don’t know where to go to, why don’t you go where fashion sits: p... read more

 SWISS INFO21 days ago
Swiss still world’s richest

According to the annual wealth report produced by Credit Suisse, Switzerland leads on wealth per adult with US$ 530,240, comfortably ahead of second-placed Australia where the figure is US$ 411,060. The US is third with US$ 403,060. During the twelve... read more

 LE NEWS22 days ago
Self-employment declining in Switzerland

The percentage of Switzerland’s workers working for themselves has been slowly declining. In 2010, 13.7% of workers were self-employed. By 2017, the figure was 12.8% - self-employed includes those working as independents and those working for compani... read more

 LE NEWS22 days ago
Swiss stock exchange stays on sustainability initiative sidelines

Nearly 80 trading venues including the New York Stock Exchange (NYSE), the London Stock Exchange and Nasdaq have joined the United Nations’ Sustainable Stock Exchange (SSE) initiative, which tackles climate and social issues. The SIX Swiss Exchange, ... read more

 SWISS INFO22 days ago
US appeals court revives Nestlé child slavery lawsuit

A US federal appeals court has reinstated a lawsuit by a group of former child slaves accusing the US unit of Swiss company Nestlé, the world’s largest food maker, and Cargill of perpetuating child slavery at Ivory Coast cocoa farms.  Judges of the ... read more

 SWISS INFO22 days ago
Crowdfunding science: ‘An adventure into the unknown’

???????After almost two years, Switzerland’s first dedicated science crowdfunding platform has seen nearly 80% of projects meet their targets. But for its organisers and participants, success isn’t just measured in Swiss francs. In January 2017, the... read more

 SWISS INFO22 days ago
Swiss online retailers increasingly hit by fraudsters

A survey of online retailers in Switzerland has shown that losses due to customer fraud are growing – though most scams involve relatively small amounts of money. The survey published on Wednesday by the Crif risk management firm shows that some 92... read more

 SWISS INFO23 days ago
Mountain regions to benefit from digital push

A campaign has been launched to promote digitalisation in small companies based in Swiss mountain regions. On Wednesday, the Federation of Adult Learning and Swiss Mountain Aid presented a project for companies with fewer than 50 employees to allow ... read more

 SWISS INFO23 days ago
Gene editing leads to faster production of food-friendly cassava

Zurich researchers have used gene-editing technology to develop a variant of the starchy tuber cassava that is much easier to process for the food and paper industries. Until now, complex and energy-intensive industrial processes have been required... read more

 SWISS INFO72 days ago