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Tag Archives: Business & Economy

Swiss Post stops accepting parcels and letters to China

Swiss Post has said it will no longer accept packages addressed to China, according to Tribune de Genève. © Wimseyed | Dreamstime.comBecause of the covid-19 virus, airlines have stopped or drastically reduced flights to China. This fall in air traffic has reduced postal service capacity to China by two thirds. Mail can still be sent if it is marked urgent, however delivery times cannot be guaranteed. Denmark, Georgia, Greece, Romania, Serbia, Singapore, Spain and the US have also...

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Canton of Valais wants to make school skiing compulsory

For school pupils in canton Valais, skiing could soon be part of the curriculum under plans to create three obligatory snow sports days a year, the NZZ am Sonntag reports. © Corepics Vof | Dreamstime.comChristophe Darbellay, the canton’s education minister, wants to get young people back on skis to ensure the future of the sport, which generated CHF 758 million in Switzerland from lift passes alone in 2018/19. The project, which will cost CHF 2.7 million, has been approved by the...

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The labels that show how much more international retailers charge Swiss

To simplify labelling, many international retailers put recommended retail prices (RRP) for multiple nations on the same label, like the one below. The Swiss retail price premium laid bare.Labels such as these show how much more Swiss customers are being charged compared to customers in other countries. The label above, from an item of clothing sold in Switzerland, shows how much more Swiss customers are charged. The RRP for Switzerland is the highest. The Swiss pre-VAT price is 21%...

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Swiss private bank Pictet to drop fossil fuel investments

Recently, the private bank Pictet, based in Geneva, announced plans to eliminate all of its investments in companies actively associated with the production and extraction of fossil fuels, according to a press release. © Kent Johansson | Dreamstime.comThe bank defines companies actively associated with the production and extraction of fossil fuels as those generating more than 25% of their revenue from activities with high carbon emissions. At the end on December 2019 the bank had...

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Swiss environmental agency sets no date for 5G launch

Earlier this week, Switzerland’s Federal Office for the Environment (FOEN) announced it had contacted the cantons at the end of January 2020, informing them it had not set a date for switching on 5G networks. © Tpibernik | Dreamstime.comHowever, mobile networks plan to continue installing 5G equipment after rolling out more than 2,000 antenna last year – a map showing where the new antenna are can be viewed here. FOEN says it needs more time to test the potential impact of 5G...

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Switzerland most expensive country in 2020

It will come as little surprise to many that Switzerland has been ranked the world’s most expensive country. © Marekusz | Dreamstime.comPut together by the magazine CEO World, the ranking pulls cost of living data on accommodation, clothing, taxi fares, utilities, internet, groceries, transport, and dining out, from a number of other studies. Norway ranks second, followed by Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea. The United States (20th),...

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Philip Morris International to axe jobs in Switzerland

The tobacco company Philip Morris International (PMI) has unveiled plans to cut jobs at its sites in Lausanne and Neuchâtel. © Vitezslav Vylicil | Dreamstime.comA total of around 265 jobs are likely to go. Most of them will be transferred to the UK, Portugal and Poland. The company has opened formal processes in both cantons and those affected will be informed between now and the end of March 2020, it said. The company said its restructuring plans are part of its strategy to focus...

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Credit Suisse accused of spying on Greenpeace

According to SonntagsZeitung, the bank Credit Suisse has been spying on Greenpeace.  © Pincasso | Dreamstime.comNearly three years ago, the environmental organisation thwarted security and disrupted the bank’s general assembly with a stunt aimed at shaming Credit Suisse for financing Energy Transfer, a company involved in the construction of the controversial Dakota Access oil pipeline running through reserves in the US state of Dakota. Greenpeace said the environmental risks were too...

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Trump should be disinvited to Davos, says St. Gallen University economist

Speaking to CNN Money, Markus Will, a senior economist at St. Gallen University, described Trump’s speech, in which he didn’t mention climate once, as a “contradiction to the values of Davos.”  © Michael Hiatt | Dreamstime.com“It was a nationalistic, domestic, state of the union address from Davos rather than an improving of the state of the world speech which you should do in Davos”, he said, before adding, “you should disinvite him cordially for next year. He’s an anti-Davos man, he...

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Swiss National Bank expects annual profit of 49 billion francs

SNB building in Bern According to provisional calculations, the Swiss National Bank (SNB) expects to make a profit of around CHF 49 billion in 2019. Most of this comes from the rising value of the SNB’s foreign currency positions (+CHF 40 billion) and a valuation gain on gold holdings (+CHF 6.9 billion). After adjusting reserves, the SNB will have CHF 88 billion available for distribution. Since the announcement SNB shares have risen 2% to CHF 5,600. The central bank...

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