Tag Archives: 3) Swiss Markets and News

Closed shops, cancelled flights, shut construction sites: the pandemic is causing the Swiss economy to lose an estimated CHF4-5 billion a week (Keystone) The current pandemic will plunge the world economy into recession, at least in the first part of the year. What tools does Switzerland have to minimise the economic and social damage of this crisis? And what factors could jeopardise the prospects for an economic recovery? The CHF10 billion ($10.3 billion) in...

Restoring shuttered companies back to health may take more than state handouts. (Keystone / Laurent Gillieron) The CHF60 billion Swiss state bailout of companies is well underway. But there is a feeling that government funds that hand out loans and pay workers’ wages will not be enough. How do companies maintain contact with customers and develop their brands during a lockdown? The obvious solution is to embrace digital. The last few weeks has seen a number of...

© Panuwat Dangsungnoen | Dreamstime.com By 14 April 2020, a total 25,936 cases of Covid-19 infection had been recorded in Switzerland, a rise of 3,683 over the preceding 7 days. However, despite the continued rise in cases there are indications measures to slowdown the spread of the virus are working. New daily infections since the start of April 2020 from four different sources presented in the chart below all show a broadly downward trend. It is important to note...

The government is expected to present its Covid-19 exit plans on Thursday. The picture shows Swiss President Sommaruga (centre) with Interior Minister Berset (right) and Economics Minister Parmelin (left) talking to the government spokesman. (Keystone/Peter Klaunzer) Political parties, trade unions and other interest groups have published their proposals for the government to relax restrictions introduced to stem the Covid-19 pandemic. The calls come a day ahead of...

The 2020 edition of the fair was cancelled due to Covid-19. (Keystone / Georgios Kefalas) Rolex, Patek Philippe and Chanel will not exhibit at the Baselworld watch and jewellery trade show in 2021. The announcement marks another blow to the event, which has already seen high-profile exits, including by the Swatch Group. The luxury timepiece companies, along with Chopard and Tudor said on Tuesday they would launch a new trade show in Geneva with the Fondation de la...

Many Swiss are now doing their shopping online.  (Keystone) Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO). The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s. These results are provisional and are published exceptionally, SECO noted....

Electron microscope image of Covid-19 (yellow) emerging from the surface of cells (blue/pink) cultured in a US lab (Keystone / Niaid- Rml/national Institutes O) Swiss pharma and business insiders predict that an effective drug therapy against Covid-19 will be available by the end of this year, but a vaccine might take a year longer than that. “In the best-case scenario, a drug could be available before the end of 2020,” said on Monday Francesco De Rubertis, director...

Bread in Geneva costs considerably more than bread in Zurich, but far less than a loaf in New York. (© Keystone / Martial Trezzini ) Zurich and Geneva are still among the world’s ten most expensive cities, but both have slid down the rankings since last year. The full effect of the coronavirus crisis remains to be seen. In the Economist Intelligence Unit’sexternal link annual report comparing the cost of living in cities around the world, Zurich is tied for 5th place...

Schoolwork at home: some do more, some do less (Keystone / Laurent Gillieron) There is a big difference in the amount of time pupils are spending at their studies during the corona school closures, a Swiss-led study has found. Some children are doing five or more hours a day, others just one or two. This is one of the main findings of the School Barometerexternal link, led by the Institute of the Management and Economics of Education (IBB)external link of the...

© Sorin Colac | Dreamstime.com On 8 April 2020, Switzerland’s government decided to extend the country’s lockdown measures for a further week. In a press release the Federal Council said the measures would be extended for another week and then possibly progressively loosened before the end of April. The measures have proved to be effective with the spread of the virus clearly reducing over recent days, said the statement. However, given the evolution of the spread...