Tag Archives: 3) Swiss Markets and News

There are now around 4.6 million cars in Switzerland, almost 50% more than in 1990. © Keystone / Michael Buholzer Switzerland’s emissions have declined over the last 30 years, but not enough to meet the national targets set for 2020. What’s behind the gap? By 2020, greenhouse gas emissions in Switzerland should be down by 20% from what they were in 1990. That’s the target outlined in the federal CO2 law. While figures are only available until 2018, the federal...

© | Dreamstime.com The coronavirus is set to knock a CHF 1 billion hole in Switzerland’s federal budget for 2021, according to a press release. Without the virus the budget was CHF 2.2 billion in the black. Post virus the budget is now CHF 1 billion in the red. The virus is expected to add CHF 2.0 billion to next years spending. The extra money is earmarked for SARS-CoV-2 tests, business loan guarantees and support to the sports sector. The Federal Council is...

© Andres Jacobi | Dreamstime.com On 1 July 2020, Switzerland’s federal government announced that it would become compulsory to wear masks on public transport from 6 July 2020. Due to the the growing number of people using public transport and a rise in the number of people testing positive for SARS-CoV-2 since mid-June, the Federal Council has decided to make it compulsory for those taking public transport to wear a mask. 137 new SARS-CoV-2 infections were reported...

Since April, over 190,000 companies have applied for short-time compensation for nearly two million employees – around 36% of the workforce in Switzerland. Keystone / Gian Ehrenzeller The Federal Council is extending short-term unemployment benefits by another six months and plans to help cushion financial losses faced by public transport. On Wednesday, the government announced that it is extending the maximum period for receiving partial unemployment support from 12...

A sculpture outside the Guggenheim Museum in Bilbao, one of the destinations that SWISS is flying to again from Zurich Keystone / Luis Tejido Swiss International Air Lines (SWISS) has published its flight schedules up to October 24, the end of the summer timetable. As well as resuming service to more network destinations, it plans to intensify its frequencies on routes already restored in both its short-haul and long-haul networks. The Swiss national airline said on...

Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 Keystone / Georgios Kefalas Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing. The Basel-based retail chain said in a statement on Monday its aim was to strengthen its online presence and retain...

© Kvaka9 | Dreamstime.com As the events and decisions surrounding the spread of the SARS-CoV-2 virus become clearer, fingers are being pointed. A mass lawsuit targeting events in the Austrian resort of Ischgl is looming, according to Bloomberg. Could similar legal action spread to Swiss resorts? At the end of last year, the Wuhan Municipal Health Commission issued a public notice confirming 27 cases of a new virus and recommended wearing face masks. Around three...

© Michael Müller | Dreamstime.com On 19 June 2020, Switzerland’s extraordinary state in relation to the SARS-CoV-2 pandemic ended. This was accompanied by further easing of restrictions aimed at reducing the spread of the virus. Hand washing, maintaining social distance and mask wearing are the three golden rules that remain, according to Swiss president Simonetta Sommaruga. The minimum distance to be maintained between people in public spaces was reduced to 1.5...

On 25 June 2020, Switzerland’s contact tracing app, known as SwissCovid, became available for download.Created by a group of specialists at EPFL led by Marcel Salathé, a professor of digital epidemiology, the app allows chains of infection to be traced by informing people if they have been in contact with anyone infected. Countries, like South Korea, that have done a good job of this have been able to quickly isolate infected people and halt the spread of the virus....

The goal of sustainable finance is to divert more funds into environmentally and socially responsible projects. Keystone / Laurent Darbellay Extra rules will only be imposed on the sustainable finance sector if banks fail to properly police themselves, says the Swiss government. The hands-off regulatory approach to ethical investing has been welcomed by financial players, but criticised by NGOs. Unveiling a report on sustainable finance on Friday, Finance Minister...