Tag Archives: 3) Swiss Markets and News

The longer term effects of Covid-19 can take many forms and there are numerous definitions of the disease. A study undertaken by HUG and UNIGE in Geneva, published on 6 July 2021, found that 39% of a group of Covid-19 patients still had symptoms after 7 months. © Wavebreakmedia Ltd | Dreamstime.com Of the 629 participants in the study who completed the interviews, 410 completed the follow-up at 7 to 9 months after a COVID-19 diagnosis in early 2020. Of this group,...

In 1999, social expenditure in Switzerland was CHF 13,370 per resident. By 2019, the same figure had reached CHF 21,300, a rise of nearly 60%. © Alexey Stiop | Dreamstime.com Over the same period, total inflation was around 11%. Applying inflation to CHF 13,370 brings the figure to CHF 14,480. Why has the cost risen beyond this and how has the extra spending been funded? One of the key drivers behind the rise in social expenditure is increased spending on pensions as...

On 30 June 2021, Switzerland’s Federal Council discussed ways of preparing Switzerland for the autumn and winter months and a possible renewed rise in the number of coronavirus cases. © Silviu Matei | Dreamstime.com From the meeting ministers produced a report setting out various scenarios and response plans. The key elements are rapid identification of new variants of concern, continued progress with vaccination and a focus on ensuring sufficient capacity for...

Forbidden fruit: the paper straws are OK, but the plastic cup is banned in much of Europe Westend61 / Maria Elena Pueyo Ruiz Single-use plastic items like straws and cups are no longer allowed in the 27 European Union countries. This isn’t the case in non-member Switzerland, where retailers and restaurants are taking their own approach. The EU ban on certain plastic products took effect on July 3 and covers a range of everyday items from food packaging to wet wipes....

Financial institutions must be wary of being consumed by the consequences of careless environmental or social decisions. Keystone / Rank Augstein Climate change is forcing financiers to change the way they think and act. This could have a big impact on their balance sheets – and potentially their very survival. “Bankers are no longer purely financial specialists, but also connoisseurs of the environmental and social footprint of investments,” said Yves Mirabaud in...

Any animal raised and slaughtered in Switzerland can be labelled Swiss. However, what the animal has been fed could be from anywhere. If animals are what they eat then much of the meat and eggs labelled Swiss aren’t very Swiss. © Sergio Bertino | Dreamstime.com A key challenge for meat, dairy and egg consumers is the absence of information on labels, which is limited to provenance. Information about what an animal has been fed is not contained on the labels of meat,...

On 1 July 2021, Switzerland’s revised telecommunications law came into effect. The new rules force mobile providers to make certain changes to deals they offer customers when roaming. Some of the resulting changes are positive, but not all. In addition, some operators have retained bundles that don’t comply with the new rules. © Jekaterina Voronina | Dreamstime.com The new rules force mobile operators to change for roaming calls in increments of a second instead of...

Switzerland looks set to choose the US option over European competitors following months of intense lobbying. Keystone / Giuseppe Lami The Swiss government wants to upgrade the country’s air defence system by buying 36 F-35A fighter aircraft from United States manufacturer Lockheed Martin and five Patriot surface-to-air missile units from another US firm Raytheon. The Federal Council (governing body) will ask parliament to approve the dual purchase on the basis that...

Some companies gave their CEOs pay rises even though the firms were losing money Keystone / Edgar R. Schoepal While the Covid-19 pandemic has caused existential hardship for many employees, CEOs and shareholders have “shamelessly helped themselves”, according to a union study. “The pay gap remains wide open at a very high level,” trade union Unia wrote in its annual pay gap studyExternal link published on Tuesday. The average ratio between the highest and lowest...

Cleaning up: Ralph Hamers reckons people trust bankers again © Keystone / Christian Beutler Swiss banks have some catching up to do when it comes to structural change and digitalisation, says Ralph Hamers, CEO of Swiss bank UBS. In his opinion structural change has taken place much faster in other countries and industries than in Switzerland. For example, the dynamics in Asia and Scandinavia are significantly greater, Hamers told newspaper BlickExternal link in an...