Tag Archives: 3.) Swissinfo Business and Economy

Anyone using the internet is being watched, and possibly manipulated, via a trail of digital breadcrumbs known as metadata. Two Swiss companies, one backed by former United States military whistleblower Chelsea Manning, are setting up smokescreens to confuse prying eyes and protect web users from big tech companies and government surveillance. Nym Technologies and HOPR employ mix networks (mixnet) to churn together the metadata that people leave behind when they...

Switzerland has signed a declaration along with six other European states in favour of pooling gas storage facilities. Switzerland, Germany, Austria, Belgium, France, Luxembourg and the Netherlands signed the declarationExternal link on Wednesday, pledging to work towards coordinating storage efforts on a regional level. The agreement, which is not legally binding, comes after the European Commission announced plans to mandate natural gas storage for EU members each...

The Swiss government did not ban Russian media as has the European Union. Keystone / Mikhail Klimentyev The Swiss government on Friday adopted additional sanctions against Russia for its ongoing war in Ukraine but did not ban the Russian state TV channels Sputnik and Russia Today like the European Union. Switzerland joins the sanctions measures adopted by the European Union on March 9 and 15. It has already imposed a series of sanctions in line with the EU. The first...

A new poll shows that a majority of the Swiss population would be in favour of tougher sanctions against Russia for invading Ukraine, even if it results in higher energy costs in Switzerland. The poll published on Monday by the Institute Link found that 57% of people surveyed would support the freezing of all assets held in Switzerland by high-ranking Russian officials and government allies. Those questioned would also support de-linking Russian banks from the Swiss...

Authorities have registered over 16,500 refugees from Ukraine in federal asylum centres like the one pictured here in Basel, which Justice Minister Karin Keller-Sutter and the head of the State Secretariat for Migration Christine Schraner Burgener visited last week. © Keystone / Ennio Leanza Diaspora TV Switzerland launched a new service in Ukrainian on Sunday to help meet the information needs of refugees arriving from the war-torn country. The new service, which is...

An advisor to Ukrainian President Volodymyr Zelensky says the Swiss should be more proactive in looking for Russian funds. But according to a legal expert, current regulations do not allow authorities or banks to do more active searches beyond what’s in their current registers. Zelensky’s advisor, Alexander Rodnyansky, said that for Ukraine, it’s “vital” that Switzerland contributes to international pressure on Russia so the war will end. The Alpine country can make...

Severin Schwan is also CEO of Swiss pharmaceutical giant Roche. Keystone / Georgios Kefalas Credit Suisse announced on Monday that Vice-Chair Severin Schwan would not stand for re-election. This follows a reported rebellion by large shareholder groups at the Swiss bank. “Severin Schwan, who joined the Board in 2014 and has acted as Vice-Chair and Lead Independent Director since 2017, has decided not to stand for re-election,” Credit Suisse said in a statementExternal...

Switzerland plans to open negotiations with Qatar over the potential delivery of liquefied natural gas (LNG) supplies. The Alpine state is scouting for new energy suppliers, following the Russian invasion of Ukraine. Finance Minister Ueli Maurer brought up the subject with Qatari Energy Minister Saad Sherida al-Kaabi in Doha on Tuesday. Gas makes up roughly 15% of Switzerland’s final energy consumption and is mostly used for heating and cooking. Around half of this...

The war in Ukraine and consequent threat of energy insecurity is forcing many countries to reconsider their existing policies. The ripple effect has also reached Switzerland, which is already reassessing its gas supply for the coming winter. As the largest exporter of oil and gas combined worldwide, Russia represents a critical piece of the global energy puzzle. The invasion of Ukraine by Russia and the sanctions which followed have already impacted where oil and...

Against the backdrop of the war in Ukraine, the Swiss ambassador to NATO, Philippe Brandt, explains the importance of Switzerland’s partnership with the alliance, which he views as perfectly compatible with Swiss neutrality. SWI swissinfo.ch: Has your role as head of the Swiss mission to NATO changed since the outbreak of the war in Ukraine? Philippe Brandt: We are living through a very intense time. Our role as a mission hasn’t fundamentally changed. We are closely...