Tag Archives: Business

Rows of vines in Valais, the canton at the heart of the Swiss wine-growing industry. Swiss agricultural production is up in 2018, driven largely by bigger hauls of wine, fruit and milk, according to the latest official statistics. Productivity is also on the rise. The yearly production estimate of CHF10.6 billion ($10.7 billion) released on Tuesday by the Federal Statistical Officeexternal link represents an increase of...

Swiss owners of property abroad had until September 30 to come forward and declare it The automatic exchange of information between Switzerland and the European Union came into effect on Monday. Owning property abroad without declaring it will no longer be possible. The deadline of September 30 ended the possibility of coming forward voluntarily, reported Swiss public televisionexternal link, RTS, on Sunday. For...

Companies argue that the Swiss workforce alone cannot fill every highly skilled job vacancy. The Swiss authorities have responded to demands from companies and cantons for access to highly-skilled employees by granting 1,000 extra permits for workers that come from outside the European Union from next year. From 2019, firms will be able to recruit 8,500 foreign workers from countries such as the United States, China and...

“Most households can no longer afford to buy property in the top financial centres without a substantial inheritance”. Sound familiar to Zurich and Geneva dwellers? An index by Swiss bank UBS shows significant risks of real estate bubbles in booming cities such as Hong Kong, Munich and Toronto. The Swiss cities of Zurich and Geneva remain relatively stable. The 2018 Global Real Estate Bubble Indexexternal link,...

Novartis currently employs 13,000 people across Switzerland The pharmaceutical giant Novartis will cut about 2,200 jobs in Switzerland over the next four years. Nearly 1,500 jobs are affected in production and about 700 in services. This restructuring is part of the manufacturing strategy launched in 2015 to adapt the industrial base to a reduced product portfolio, announced Novartis on Tuesdayexternal link. It...

Demonstrators gather in front of parliament in Bern (Keystone) A national rally in favour of equal pay and against discrimination has taken place in the Swiss capital, attracting some 20,000 people, according to organisers. Unions, political parties and supporting organisations said in the run-up to the rally on Saturday that although equality was enshrined in the constitution 37 years ago and the law had been in force...

Swiss boardrooms: more than just a nice view. (© KEYSTONE / CHRISTIAN BEUTLER) A report on the salaries of CEOs across Europe has found that Switzerland once again tops the table, ahead of Great Britain and Germany. The report also discovers that salaries have risen over the past year. CHF8.7 million ($9.05 million): this was the median compensation of bosses of top companies in Switzerland in 2017, according to this...

It is a highly complex process to get oil from the ground and into cars. (Copyright 2018 The Associated Press. All rights reserved.) A consortium of commodities traders, banks and the world’s largest goods inspection company have joined forces to launch a blockchain platform in Switzerland, which is intended to ease the administrative burden of shifting oil, grain and other products around the world. The Komgo venture...

Clariant has sealed a restructuring deal with its new large shareholder. Swiss specialty chemical maker Clariant has signed a memorandum of understanding to enter into a strategic partnership with Saudi Arabian firm SABIC. This will result in a major restructuring of the company along with changes in management and the board of directors. On Tuesday, Clariant said the collaboration will see the merger of units from both...

Aerial view of a farm near Appenzell in eastern Switzerland (Keystone) The federal authorities last year cut direct subsidies paid to 16% of all Swiss farms due to irregularities often due to animal protection and welfare issues. In all, 7,145 farms, or 16% of the total, received lower payments, the SonntagsZeitung wrote on Sunday. The report was based on figures that have yet to be published by the Federal Office for...