Tag Archives: 3.) Swissinfo Business and Economy

The Swiss government has proposed amending the Tobacco Act to introduce a new tax for electronic cigarettes. Parliament has been asked to back the proposal, which is forecast to bring in around CHF13.8 million ($13.8 million) in extra tax revenues per year. The proposed tax rate for reusable e-cigarettes is CHF0.20 per millilitere of liquid containing nicotine. For single-use e-cigarettes, the government is aiming for CHF1 per millilitre of liquid – regardless...

Credit Suisse is one of Switzerland’s systemically important banks. © Keystone / Christian Beutler Credit Suisse Group and the French financial prosecution office have agreed to settle a tax fraud and money laundering case in France with a €238 million (CH234 million) payment to the state, a French court heard on Monday. The settlement still needs to be approved by the court. If approved, the payment would resolve the investigation led by the France’s financial...

Buying a train ticket with a bicycle will become easier; getting the bike onto the train won’t Keystone / Gaetan Bally Ticket prices for Swiss public transport will remain stable for 2023 for the seventh consecutive year. Only “a few tourist businesses” are planning to adjust their fares for next year, says the SwissPass Alliance. In addition, from December 11, when the new Swiss Federal Railways timetable comes into effect, there will be a customer group specific to...

Parmelin said that before the end of March next year the risk of a shortage was very small © Keystone / Jean-christophe Bott Swiss Economics Minister Guy Parmelin assumes the energy crisis will last several years. It is important, he says, not only to think about the winter, but to do everything to ensure that Switzerland produces more energy – that means more renewable energies and greater efficiency. In 2023 and 2024 Switzerland will still be dependent on oil...

Many people have struggled to make ends meet during the pandemic © Keystone / Christian Beutler A 48-year-old businessman in Geneva has been given a two-year suspended prison sentence for making a fraudulent claim for a Covid loan that was 100 times the correct amount. He was found guilty of fraud and forgery of documents. “You expressly deceived the authorities in connection with the coronavirus pandemic,” the judge at Geneva Criminal Court said on Friday. “Your...

Swiss Army knives are very popular in Russia, the fifth-largest market for manufacturer Victorinox © Keystone / Gaetan Bally Leading Swiss brands have withdrawn from Russia because of the war in Ukraine. However, research by a Swiss newspaper shows that while a company can leave a country, its products often remain on shelves. “It’s a mass exodus. Since Russia invaded Ukraine in February, thousands of foreign companies have left the country. Some with grand...

Switzerland continues to look for ways to save on electricity and gas this winter. © Keystone / Gaetan Bally Switzerland has launched an Energy Saving Alliance of companies, government, cantons, civil society and municipalities in an effort to preserve gas and electricity supplies over the winter. The Alpine state is among many European countries facing power shortages following Russia’s decision to cut off gas supplies. Swiss Energy Minister Simonetta Sommaruga and...

Building large solar parks in high-mountain regions is arguably an effective way to produce more power in winter and accelerate the energy transition. But it remains controversial in Switzerland, where environmental groups have contested planned installations. Born in London, Simon is a multimedia journalist who has worked for www.swissinfo.ch since 2006. He speaks French, German and Spanish and focuses on science, technology and innovation issues. More from...

Energy Minister Simonetta Sommaruga presents Switzerland’s winter power reserve plans. ©keystone/peter Schneider The Swiss government has put forward plans to create reserve power plants aimed at shoring up the country’s energy supplies during the winter. The proposal to create a network of reserve plants was presented on Wednesday for a period of public consultation that will end on November 23. This follows other measures, such as increasing capacity at...

Swiss International Air Lines (SWISS) is planning to expand its flight schedule next summer to offer 85% of its pre-pandemic capacity. To this end, it is now busy recruiting flight attendants. In the summer timetable, which runs from March 26 to October 28, 2023, SWISS will serve a total of 112 destinations from Zurich and Geneva, it said in a statement on Tuesday. “On the intercontinental front, the emphasis will be on the destinations in North America which are in...