Tag Archives: 3) Swiss Markets and News

Five additional countries, including Nigeria, now benefit from an automatic exchange of banking information with Switzerland, taking the total to over 100 for the first time. On Monday, the Swiss Federal Tax Administration revealed that it had provided details of around 3.4 million bank accounts held by foreigners (or those with a fiscal residence abroad) to their countries of origin or residence this year. In return, it had received information on banking...

Uber’s disruptive model faces resistance from unions and authorities in various countries, not just Switzerland. Keystone / Caroline Brehman The ride-hailing company says it will offer drivers the possibility of remaining independent or becoming official employees of a subcontractor firm. The “dual model” will be extended gradually across the country – with the exception of Geneva – from October, Uber’s Swiss director Jean-Pascal Aribot told the Tribune de Genève...

The fluctuating price of bitcoin bears a repetitive hallmark: true believers hoard the vast majority of bitcoin in circulation and wait for the next wave of new disciples to push up the value by fighting for the scraps. When not covering fintech, cryptocurrencies, blockchain, banks and trade, swissinfo.ch’s business correspondent can be found playing cricket on various grounds in Switzerland – including the frozen lake of St Moritz. More from this author |...

Another factor for the slowdown is foreign trade, which according to the forecast will weaken significantly next year. © Keystone / Gaetan Bally The KOF economic institute has joined other forecasting agencies to lower its predictions for the Swiss economy. However, the experts do not expect a recession for the time being. The Swiss Institute for Business Cycle Research at the Federal Institute of Technology (ETH) in Zurich is now forecasting growth in gross domestic...

Statistics published this week by the Federal Statistical Office (FSO), show that 70.1% of homes in Switzerland are heated by burning either mazout (heating oil), gas or wood. Photo by tony samia on Pexels.comAcross Switzerland 40.7% of homes are heated with mazout or heating oil. A further 17.6% are heated by burning gas and 11.8% by burning wood. These high greenhouse gas producing sources of heat account for 70.1% of the total. Add to this additional undisclosed...

In September 2022, Switzerland’s consumer price index (CPI) fell by 0.2% compared with the previous month, according to data from Switzerland’s Federal Statistical Office (FSO). Photo by Erik Mclean on Pexels.com The 0.2% month-on-month fall was due to falling prices for fuels, heating oil, hotels and related accommodation. Falls in the prices of these items were offset by higher clothing and footwear prices. Monthly deflation left the...

Despite a negative outlook overall, most CFOs believe that their companies will experience growth in the near future © Keystone / Gaetan Bally Chief financial officers (CFOs) are more pessimistic about the economic outlook for Switzerland than they were six months ago, according to a survey conducted by Deloitte for the second half of 2022. However, a majority of the 127 managers surveyed believe that their companies will experience growth in the near future. “The...

Agricultural income in Switzerland grew slightly in 2021 to reach an average of CHF80,700 ($81,765) per farm, according to latest statistics. The 1.9% average rise in 2021 came despite a “mixed year” for farmers and farming in Switzerland, said the federal centre of agricultural research Agroscope on Tuesday. While the price of beef and milk rose that year, the situation for pork was more complicated due to oversupply, the research centre said. The weather was also...

The energy crisis is causing electricity prices to soar across Europe, including in Switzerland. But the impact on the country is very unequal because of specific characteristics of its market. The sharp rise in electricity prices has delivered a heavy blow to the European market, which has been fully liberalised since 2007. States are being forced to delve deep into their coffers to support households and businesses. Voices questioning the wisdom of fully opening...

Senior Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about the Swiss bank’s liquidity and capital position in response to concerns raised about its financial strength. Executives hit the phones after spreads on the bank’s credit default swaps, which offer protection against a company defaulting, rose sharply on Friday, indicating investor worries over its financial health. “The teams are actively engaging with...