Tag Archives: 3.) Swissinfo Business and Economy

Cutting down on fees for the grid connection could save consumers around CHF350 million ($365 million), according to Meierhans. © Keystone / Salvatore Di Nolfi By reducing grid connection fees and municipal duties, the federal government could help to keep electricity bills down, Stefan Meierhans told Le Matin Dimanche newspaper. Meierhans said it is possible for the government to change the framework conditions that would allow a lowering of fees for using the grid....

Ermotti also called into question the need for 24 cantonal banks. Keystone / Elia Bianchi Having two big players like UBS and Credit Suisse provides no “compelling” economic benefit for Switzerland, Sergio Ermotti has told the NZZ am Sonntag newspaper. “The strength of the country’s financial centre is its diversification, which is much more important than the number of big banks,” the former UBS CEO said in an interview published on Sunday. In the last ten years,...

Swiss pharmaceuticals giant Novartis is currently restructuring its business. © Keystone / Urs Flueeler Swiss pharmaceutical company Novartis is investing $300 million ($288 million) in biotherapeutics development, which includes a new $100 million biologics hub at its home base in Basel. A further $110 million will be spent on research and production at a Novartis site in Slovenia and $60 million in Austria, the company announced on Monday. Biotherapeutics is a...

swissinfo.ch/Delali Adogla-Bessa As the world’s second-largest cocoa producer continues to lose swathes of farmland to illegal gold mining, Switzerland’s chocolate makers are waking up to the threat to their raw material supply. SWI swissinfo.ch special series: An African perspective on cocoa Native to Central and South America, cocoa cultivation in West Africa was first recorded in 1868. The archives of the Royal Botanic Gardens in Kew refer to a few cocoa trees...

Many Swiss dream of owning a single-family home in the countryside and passing it on to their children. For most, this dream is increasingly unrealistic. Journalist and deputy head of the swissinfo.ch editorial group for German, French and Italian. Earlier, worked for Teletext and Switzerland’s French-language national broadcaster. More from this author | French DepartmentSamuel Jaberg In 2015, before starting a family, Ophélie* and her partner Laurent*...

Keystone / Jens Buettner The Swiss company behind the Russian gas pipeline Nord Stream 2 has received a four-month extension to try to repay its debts. The Zug cantonal court in Switzerland, where Nord Stream 2 AG is headquartered, granted the company a second extension, according to an entry in the Swiss Official Gazette of Commerce published on Thursday. The firm has until January 10, 2023 to turn things around and avoid bankruptcy proceedings. In May, the court...

Switzerland has returned as a popular destination for foreigners looking for work after two years of Covid-19 restrictions. Over 75,000 people have immigrated to Switzerland so far in 2022, driven largely by an economic boom and unemployment levels falling to a 20-year low. Alexander Thoele began working for SWI swissinfo.ch in 2002. He is of German and Brazilian origin. He was born in Rio de Janeiro and completed studies in journalism and computer science in...

“You cannot say we have passed the zenith and now it is certainly heading lower,” Swiss National Bank President Thomas Jordan told a Finanz and Wirtschaft financial conference on Thursday. © Keystone / Anthony Anex The president of the Swiss National Bank (SNB), Thomas Jordan, says the inflation outlook is more uncertain than normal and it is premature to say prices have peaked. “You cannot say we have passed the zenith and now it is certainly heading lower,”...

© Keystone / Gaetan Bally Switzerland has a social security network that covers risks in many areas – work, health, family and old age. The Swiss social security system cannot be easily compared with that found in other countries, as it comprises a variety of insurance schemes with very different mechanisms. Its funding is characterised by a relatively low use of tax revenues, a focus on individual pension plans, and the influence of private institutions....

Consumer spending continued to rise in the spring, but may dampen as the price of goods picks up. © Keystone / Christian Beutler Switzerland’s economic output slowed to 0.3% between April and the end of June, compared to the first quarter of the year. The manufacturing, construction, trade and financial services sectors all showed signs of weakening in the face of energy shortages and rising inflation. The State Secretariat for Economic Affairs (Seco) reported a...