Tag Archives: 3) Swiss Markets and News

Switzerland’s House of Representatives has approved the purchase of new F-35 fighter jets from the United States. The decision clears the path for Bern to sign the purchase contract, even though an initiative to prevent the deal has not been voted on by Swiss voters. Keystone-SDA news agency reported on Thursday that the majority was convinced the contract should be signed by the bid closing date: March 30, 2023. The jet purchase is part of the Army’s 2022 budget,...

A reform of the Swiss old age pension system has lost ground but is still likely to win a majority in a nationwide vote later this month, pollsters say.  Worked in radio and newspaper journalism, as well as teaching and tourism before joining swissinfo.ch’s predecessor Swiss Radio International in the 1980s. He reports from parliament, and focuses on direct democracy issues. More from this author | English DepartmentUrs Geiser Support for a proposed ban on...

Cutting down on fees for the grid connection could save consumers around CHF350 million ($365 million), according to Meierhans. © Keystone / Salvatore Di Nolfi By reducing grid connection fees and municipal duties, the federal government could help to keep electricity bills down, Stefan Meierhans told Le Matin Dimanche newspaper. Meierhans said it is possible for the government to change the framework conditions that would allow a lowering of fees for using the grid....

Ermotti also called into question the need for 24 cantonal banks. Keystone / Elia Bianchi Having two big players like UBS and Credit Suisse provides no “compelling” economic benefit for Switzerland, Sergio Ermotti has told the NZZ am Sonntag newspaper. “The strength of the country’s financial centre is its diversification, which is much more important than the number of big banks,” the former UBS CEO said in an interview published on Sunday. In the last ten years,...

Swiss pharmaceuticals giant Novartis is currently restructuring its business. © Keystone / Urs Flueeler Swiss pharmaceutical company Novartis is investing $300 million ($288 million) in biotherapeutics development, which includes a new $100 million biologics hub at its home base in Basel. A further $110 million will be spent on research and production at a Novartis site in Slovenia and $60 million in Austria, the company announced on Monday. Biotherapeutics is a...

swissinfo.ch/Delali Adogla-Bessa As the world’s second-largest cocoa producer continues to lose swathes of farmland to illegal gold mining, Switzerland’s chocolate makers are waking up to the threat to their raw material supply. SWI swissinfo.ch special series: An African perspective on cocoa Native to Central and South America, cocoa cultivation in West Africa was first recorded in 1868. The archives of the Royal Botanic Gardens in Kew refer to a few cocoa trees...

Many Swiss dream of owning a single-family home in the countryside and passing it on to their children. For most, this dream is increasingly unrealistic. Journalist and deputy head of the swissinfo.ch editorial group for German, French and Italian. Earlier, worked for Teletext and Switzerland’s French-language national broadcaster. More from this author | French DepartmentSamuel Jaberg In 2015, before starting a family, Ophélie* and her partner Laurent*...

Next year, average electricity prices in Switzerland are set to rise 27% with significant difference depending on where you live, reported RTS. Photo by Burak The Weekender on Pexels.comIn 2023, an average household consuming 4,500 kWh a year will pay an extra CHF 261 a year for their electricity. However, there will be big differences depending on where you are. In Zwischbergen, a municipality in Valais, 4,500 kWh will cost CHF 383.05 in 2023. The same electricity...

In many places one language is all that is required at work. In Switzerland, 37.7% of workers surveyed reported regularly using two or more languages at work, according to data published by the Federal Statistical Office on 6 September 2022. Photo by fauxels on Pexels.comWhile 62.3% used only one language at work, 22.2% regularly used two and 15.5% used three or more. These figures are somewhat boosted by a linguistic quirk of Switzerland. In the majority...

Keystone / Jens Buettner The Swiss company behind the Russian gas pipeline Nord Stream 2 has received a four-month extension to try to repay its debts. The Zug cantonal court in Switzerland, where Nord Stream 2 AG is headquartered, granted the company a second extension, according to an entry in the Swiss Official Gazette of Commerce published on Thursday. The firm has until January 10, 2023 to turn things around and avoid bankruptcy proceedings. In May, the court...