Tag Archives: 3) Swiss Markets and News

Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have...

NFTs have hit the headlines with spectacular sakes of digital artworks, such as the wildly popular CryptoPunks. Keystone / Obs/4artechnologies The latest blockchain phenomenon, the non-fungible token (NFT), has generated vast profits for artists and a raft of fraudulent scams. Several Swiss NFT projects have set out to prove that the technology can have a lasting impact beyond the spectacular headlines. This content was published on March 5, 2022 - 09:00 March 5,...

Companies will no longer have to prove there are no Swiss job candidates in some sectors. Moves to cut red tape for non-EU foreign workers in Switzerland will not necessarily lead to more work visas being issued. On Friday, the government announced measures to make it easier to hire skilled workers from such countries as India, Britain, China and the United States. By making it simpler to award B and L work permits, Switzerland hopes that the “innovative power of...

More than a million Ukrainians have fled their country since the Russian invasion. Switzerland said it is activating sanctions against Russia on Friday, including a ban on many industrial exports and wide-ranging restrictions on financial activities, which includes cutting Russian banks from the SWIFT financial messaging system. The Swiss government also confirmed it is freezing the assets of people and companies with connections to Russian President Vladimir...

Legal expert Mark Pieth is amazed that Switzerland is taking its own problematic approach to international sanctions against Russia. This content was published on February 26, 2022 - 11:00 February 26, 2022 - 11:00 Opinion by Mark Pieth Mark Pieth, Criminal Law Professor, University of Basel When Russia invaded Ukraine, the US and the EU announced economic sanctions, whereas Switzerland announced that it would first have to analyse the new situation. The...

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.com Since the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022,...

Data published this week by Switzerland’s Federal Statistical Office (FSO) show that the number of active workers in Switzerland rose to a record 5.239 million by the end of 2021. Photo by Lex Photography on Pexels.com The number of people employed at the end of 2021 was 1.9% higher than at the end of 2020. 5.239 million represents around 73% of those 15 or older. Sharp rise in hotel and restaurant jobs The number of people actively...

Credit Suisse has rejected all allegations in this case as meritless © Keystone / Christian Beutler The Office of the Attorney General of Switzerland has demanded Credit Suisse be fined CHF5 million ($5.4 million) – the maximum provided for by law – for aggravated money laundering and subsidiary support of a criminal organisation. Switzerland’s second-largest bank is a defendant in a trialExternal link, which began on February 7, involving millions of euros that were...

Switzerland is facing calls to clean up its financial sector in the wake of the so-called “Suisse Secrets” controversy, which drew on leaked data from banking giant Credit Suisse. Many see the scandal as evidence of systemic shortcoming in the Swiss banking sector, which has undergone major reforms over recent years in a bid to shake off its image as a financial haven for criminals. The calls for reform have come from at home and abroad. In Switzerland, the left...

Other airlines in the Lufthansa Group also announced plans to halt flights to the country. © Keystone / Christian Beutler Amid further escalations of the crisis in Ukraine, Swiss International Airlines has decided to temporarily suspend flights to Ukraine from next week. This affects flight connections in Kyiv. This content was published on February 19, 2022 – 17:22February 19, 2022 – 17:22 Keystone-SDA/jdp All flights will be cancelled from Monday, February 21...