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Tag Archives: Business & Economy

Swiss economy to slide less than feared, according to new forecast

An updated forecast published this week by the Switzerland’s federal government is less negative than forecasters feared in the middle of the year. © Marekusz | Dreamstime.comThe new forecast expects Swiss GDP adjusted for sporting events to fall by 3.8% in 2020 and unemployment to average 3.2% across the year. The forecast in June 2020, predicted a 6.2% fall in GDP and average unemployment of 3.8%. After the relaxation of health policy measures, the Swiss economy started to swiftly...

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Swiss National Bank intervenes heavily to weaken Swiss franc

Official data recently released by the Swiss National Bank (SNB) show it sold 51.5 billion Swiss francs while acquiring US dollar and euro-denominated assets in a bid to weaken the franc over the first quarter of 2020. © Michael Müller | Dreamstime.comThe data followed comments by SNB President Thomas Jordan signalling that even larger interventions may be on the cards in the future. Switzerland’s long-running battle with its overvalued currency has drawn criticism from the US. In...

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Rising numbers struggling to pay rent in Switzerland

© Ocskay Mark | Dreamstime.com Nearly 44% of renters surveyed said that coming up with the money pay rent is now harder than it was before Covid-19, according to ASLOCA, a renters’ association. Following the survey the organisation is calling for more protection against the cancellation of rental contracts and moratoriums on evictions. The main reason cited for the current financial difficulties faced when paying rent was falling revenue from fewer hours of work,...

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Pandemic increases demand for second homes in Switzerland

Demand for second homes has risen since restrictions related to coronavirus were loosened, according to real estate company Wüest Partner. © Roland Van Der Meeren | Dreamstime.comThe option of remote working appears to be encouraging some to trade time in central city locations for more time in Alpine resorts, the countryside, commuter regions and smaller cities. The prices of second homes have risen 3.6% over the last 12 months, according to firm. Demand for independent houses in...

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Rising numbers struggling to pay rent in Switzerland

Nearly 44% of renters surveyed said that coming up with the money pay rent is now harder than it was before Covid-19, according to ASLOCA, a renters’ association. © Ocskay Mark | Dreamstime.comFollowing the survey the organisation is calling for more protection against the cancellation of rental contracts and moratoriums on evictions. The main reason cited for the current financial difficulties faced when paying rent was falling revenue from fewer hours of work, partial business...

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Swiss offers staff choice between pay cuts or job cuts

Swiss, Switzerland’s flag airline, which is part of the Lufthansa group, has asked employees to accept a 15% pay cut. If they reject this offer the airline has said 1,425 jobs will be at risk, 15% of the workforce, according to a report by the newspaper Sonntags Zeitung. © Nui7711 | Dreamstime.com“Our goal is to get through the crisis with as many employees as possible.” said Marco Lipp, spokesperson for the airline. “This will only be possible if substantial reductions in staff costs can...

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Referendum: Swiss to vote on ending EU agreement

On 27 September 2020, Swiss voters have many decisions to make. This time the list of votes includes decisions on fighter jets, hunting, tax deductions for child care and paternity leave. Probably the most important among them is a decision on whether to accept a proposal to end the EU agreement on the free movement of people between Switzerland and the bloc, known as the Limitation Initiative. © Miriam Doerr | Dreamstime.comThe agreement between Switzerland and the EU on the free...

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Switzerland ranked 4th for economic come back, according to study

A report published this week places Switzerland fourth on a list of countries best positioned to make an economic rebound after the coronavirus downturn. © Octavian Lazar | Dreamstime.comThe analysis looks at overall health resilience, pre-existing structural strengths and weaknesses in 122 countries. The top four nations are Finland, Norway, Germany and Switzerland. These countries combine world class governance with high levels of social capital and high social resilience. They also...

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Swiss Rail loses a third of passengers due to coronavirus

Recently published figures show rail passenger numbers dropped by more than a third during the first half of 2020. BEAT SCHWEIZER © SBB CFF FFSDuring this period an average of 810,000 passengers a day traveled on the network, a number more than a third less than during the first half of 2019 when there was 1.29 million. The number of passenger kilometres was also down 38.4%, said the company. Lower ticket revenues combined with a largely fixed cost base led to a loss of CHF 479 million...

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Swiss government relaxes rules for most polluting cars

Citing the economic effects of the Coronavirus pandemic, Switzerland’s Federal Council has decided to relax measures designed to curb the sale of the most polluting cars in Switzerland. © Malang Sheikh | Dreamstime.comIn July 2012, Switzerland introduced regulations on the CO2 emissions of new cars. The rules, which include average fleet emissions limits, apply to any vendor importing more than 49 vehicles into Switzerland. Any importer importing a fleet of 50 or more cars exceeding the...

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