Tag Archives: Business & Economy

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...

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...

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...

Periodically, the Economist magazine judges the value of currencies based on the prices of Big Macs. © Rosalie Anareta | Dreamstime.comThis time around the burger price comparison found only two currencies to be overvalued relative to the US dollar: the Norwegian krone and the Swiss franc. The franc was almost 20% overvalued according to their analysis – click here for chart. Earlier in the week the US Treasury added Switzerland to its “monitoring list” of trading partners whose...

The Swiss government is currently considering how to reform work-related pensions, known as 2nd pillar pensions. © Viacheslav Iacobchuk | Dreamstime.comPension finances are strained by longer life expectancy and low interest rates. Another issue is the low work-related pension savings of low earners and part time workers, groups women are far more likely to fall into than men. In 2017, the median monthly 2nd pillar pension payment for women was CHF 1,221 compared to CHF 2,301 for...

The US Treasury recently added Switzerland to its “monitoring list”. Those on the list are trading partners whose currency practices merit close attention.  © Kevkhiev Yury | Dreamstime.comThe list includes: China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam. It is no secret that the Swiss National Bank (SNB) has been actively trying to weaken the Swiss franc. Switzerland has a large current-account surplus and the SNB has been making big...

According to provisional calculations, the Swiss National Bank (SNB) expects to make a profit of around CHF 49 billion in 2019. SNB building in BernMost 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 plans to pay...

In 1939, Pilatus, a small aircraft maintenance company for the Swiss Air Force was founded in Stans in the canton of Nidwalden. By 1944 it had produced its first aircraft: the Pilatus SB-2 Pelican. Pilatus Porter PC-6 © Pilatus Aircraft Ltd However, it wasn’t until 1959 that Pilatus really took off with the launch of the Pilatus Porter PC-6. The PC-6 was so good at taking off from short rough runways it was sometimes used as a substitute for helicopters. It was a global hit. Airlines as far...

© Engdao Wichitpunya | Dreamstime.com Facebook’s plan to launch its digital currency Libra is unlikely to succeed Ueli Maurer, Switzerland’s president, told SRF. Maurer doesn’t think central banks will accept the basket of currencies underpinning the cryptocurrency. “The project, in this form, has thus failed” he said. Plans for the digital currency, which is to be issued and governed by the Geneva-based Libra Association and requires Swiss regulatory approval, have...

© Nuvisage | Dreamstime.com From 1 January 2020, it will be much easier for Switzerland’s 38,000 federal government employees to get paid for working on the train, according to the newspaper Tages-Anzeiger. Until the beginning of this year, working on the train on the way to and from work was only rewarded in exceptional instances and even then it was only partially counted. Now federal government staff only require approval from their immediate manager for the time...