Tag Archives: Business

Many Swiss are now doing their shopping online.  (Keystone) Switzerland’s consumer confidence index plummeted to a “historically low” level in April, according to a Wednesday statement from the Secretariat for Economic Affairs (SECO). The index fell to -40 points, compared to -9 points in January, when the previous survey was conducted. That marks the lowest results since the early 1990s. These results are provisional and are published exceptionally, SECO noted....

Bread in Geneva costs considerably more than bread in Zurich, but far less than a loaf in New York. (© Keystone / Martial Trezzini ) Zurich and Geneva are still among the world’s ten most expensive cities, but both have slid down the rankings since last year. The full effect of the coronavirus crisis remains to be seen. In the Economist Intelligence Unit’sexternal link annual report comparing the cost of living in cities around the world, Zurich is tied for 5th place...

In 207 the low-lying areas of Bolivia’s amazon were flooded after heavy rains ravaged the country.  (Keystone/Martin Alipaz) People began growing manioc and squash much earlier than previously thought, a team of researchers led by the Swiss university of Bern has found. A study shows that the earliest human inhabitants of Moxos plains began transforming the tropical savanna eco-region in Bolivia 10,000 years ago, that is 8,000 earlier than previously thought. They...

Justice Minister Karin Keller-Sutter. (Keystone / Alessandro Della Valle) The Swiss government is examining plans to stave off bankruptcies of companies struggling with the fallout of the coronavirus crisis. But regular debt collection procedures will resume on April 20. Justice Minster Karin Keller-Sutter said the aim was to stabilise the economy and to secure jobs. “It is key for the government to prevent or keep to a minimum job losses and bankruptcies,” she told...

Combining smart contracts with bitcoin increases its potential use cases. (© Keystone / Alexandra Wey) A consortium of Swiss cryptocurrency companies has incorporated bitcoin onto the Tezos blockchain. The move brings Tezos, which has based its foundation in Switzerland, a step closer to rival blockchain Ethereum. Launched in 2018, the Tezos blockchain was designed to play host to a new generation of decentralised finance, business and social projects. It competes...

Best of neighbours: the HQs of UBS and Credit Suisse in Zurich. (© Keystone / Gaetan Bally) Switzerland’s two largest banks, UBS and Credit Suisse, have asked shareholders to accept a delay of several months for half of their dividend payments this year. The move follows a request from the financial regulator to hold on to more cash during the coronavirus pandemic. Both banks now want to split the distribution of dividends, each worth hundreds of millions of francs,...

An empty restaurant in Lucerne on March 20 (Keystone) The coronavirus pandemic has fundamentally changed the economic outlook for Switzerland within a very short period of time, with Swiss CFOs more pessimistic than ever before. Neither during the euro crisis nor during the Swiss franc shock were chief financial officers as negative about economic prospects as they are today, according to the latest half-yearly surveyexternal link published on Monday by consultants...

Hospitals are battling to cope with coronavirus, and now they are under financial pressure as well. (Keystone) Cash-strapped Swiss hospitals, in the front line of the fight against coronavirus, are calling for financial help and an end to the ban on non-emergency procedures which has sapped revenue, reports the SonntagsZeitung newspaper. It quotes the director of Valais Hospital Hugo Burgener as saying “we need liquidity to pay salaries”, and writes that the...

Exports to China dropped by half in February compared to the year before.  (© Keystone / Peter Klaunzer) The closure of shops caused by the spread of the coronavirus worldwide will cost Swiss watch firms dear, but exports are expected to rebound next year. “The Swiss watch industry will experience the largest decline in the past 50 years,” says a study published by private bank Vontobel on Wednesday. The projections are based on the assumption that stores will be...

Swiss commodity traders are hard at work so that people can continue to buy basic goods.  (Keystone) The strategic importance of commodities and experience in handling fluctuations has helped commodity firms weather the coronavirus storm better than most. swissinfo.ch caught up with Florence Schurch, general secretary of The Swiss Trading and Shipping Association (STSA), to find out how the commodities sector is handling the crisis and what it means for Switzerland....