Wednesday , December 11 2019
Home / Tag Archives: 3) Swiss Markets and News

Tag Archives: 3) Swiss Markets and News

Swiss asset managers linked to Austrian corruption scandals

Austria is still investigating massive corruption scandals involving far-right politicians, including Heinz-Christian Strache (Left) and the late Jörg Haider (Right), seen here in 2008. (Keystone) Swiss asset managers are involved in some of Austria’s biggest corruption scandals, according to the SonntagsZeitung newspaper. The paper writes that in ongoing cases involving far-right politicians Jörg Haider, Karl-Heinz Grasser and Heinz-Christian Strache, the trail...

Read More »

Another month of falling prices in Switzerland

Fruiting vegetables such as tomatoes are 17% cheaper – © Maksudkr | Dreamstime.com Swiss prices fell by 0.1% in November 2019, the sixth time in 12 months. But not everything is cheaper. Prices fell in December 2018 (-0.3%), January 2019 (-0.3), July (-0.5), September (-0.1), October (-0.2%) and November 2019 (-0.1). When combined with the low inflation experienced in the other 6 months the 12-month price drop is -0.1%. Not everything has gone down in price however....

Read More »

Some Swiss import duties could be axed

© Tatsiana Hendzel | Dreamstime.com Swiss import duties on a number of industrial products might disappear if a plan put forward by Guy Parmelin, Switzerland’s economic’s minister, is approved by the National Council, Switzerland’s parliament. The changes are expected to benefit businesses and consumers by around CHF 860 million a year. On the other hand, the government will miss out on collecting roughly CHF 500 million a year of revenue from import duties. Products...

Read More »

Failed space flight firm was backed by ‘phantom bank’

Pascal Jaussi presents the Swiss Space Systems vision in 2013. (Keystone / Sandro Campardo) The company Swiss Space Systems (S3) received financial backing from a fictitious bank as it unsuccessfully fought against bankruptcy, according to media reports. S3, which promised simulated space flights to the public, collapsed in 2017 amid much controversy. The Tages Anzeigerexternal link and 24 Heuresexternal link newspapers reported on Thursday that S3 was given fake...

Read More »

Switzerland’s skilled worker shortage worsens

© Bigapplestock | Dreamstime.com At 30 September 2019, Switzerland had 79,000 job vacancies and 225,000 unemployed workers. This combination of unemployment and job vacancies can largely be explained by two things. The first is frictional unemployment, the period spent in between jobs. This typically increases when there is a lot of job changing. The second is a skills mismatch. Employers cannot find the skills they need among those seeking work. A recent report by...

Read More »

French strike disrupts rail traffic with Switzerland 

On Thursday, only one return trip from Paris to Basel is planned (Keystone) A national strike in France is causing severe disruptions to high-speed TGV rail traffic between Paris and Switzerland. Swiss Federal Railways issued an advisory discouraging travel along this route from December 5 to 8. Only one TGV train will operate between France and Switzerland on Thursday. The disruption began on Wednesday afternoon with several trains from Paris cancelled, including...

Read More »

Environmental spending and jobs on the rise 

Spending on biodiversity was modest compared with expenditure on waste treatment and waste water management. (Keystone) Swiss spending on environmental protection has increased 45% in the last eighteen years, while the number of people employed in the sector has almost doubled. Environmental protection spending rose from CHF8.5 billion ($8.6 billion) in 2000 to CHF12.4 billion in 2018, according to the Federal Statistical Officeexternal link. As a percentage of GDP,...

Read More »

Julius Bär ordered to repay CHF153 million missing German funds

Julius Bär has been hit with two large write-downs in a matter of weeks. (Keystone / Alessandro Della Bella) Swiss bank Julius Bär has been ordered to pay CHF153 million ($155 million) to settle a claim that one of its subsidiaries pilfered money from Germany during the reunification of the country in the 1990s. A Swiss court on Wednesday overturned a previous verdict that Julius Bär should not he held responsible. The Swiss wealth manager has been pursued for...

Read More »

Record number of new e-cars on Swiss roads

(© Keystone / Gaetan Bally) With 10,329 registrations so far this year, Switzerland and Liechtenstein have more new electric passenger cars than ever before. This is the first time the total hit the five-figure mark. The numbers reflect a 136.6% increase over last year’s fleet of new, completely electric passenger cars. What’s more, now e-cars represent 3.7% of all new cars in Switzerland and the principality next door, reported importer association Auto-Schweiz on...

Read More »

Swiss foreign work permit quotas maintained for 2020

Every year, Switzerland sets quotas for the number of work visas it issues to citizens outside the EU and EFTA. This week the government announced it would maintain the quota of 8,500 permits that was in place in 2018. In addition, it confirmed an earlier deal it struck with the UK to issue up to 3,500 work visas to British citizens in the event of a no-deal Brexit. The 8,500 quota is made up of 4,500 B-permits for stays over one year, and 4,000 short-term L-permits...

Read More »