Tag Archives: Business

Cryptocurrencies, such as bitcoin, have been criticised by the Bank for International Settlements for having a series of perceived technical flaws (Keystone) Cryptocurrencies and the blockchain technology they run on are currently far too primitive for the Swiss central bank to consider issuing a digital franc, says board director Thomas Moser. Moser’s comments on Thursday reflected the previously stated stance taken by...

Cryptocurrencies, such as bitcoin, have been criticised by the Bank for International Settlements for having a series of perceived technical flaws (Keystone) Cryptocurrencies and the blockchain technology they run on are currently far too primitive for the Swiss central bank to consider issuing a digital franc, says board director Thomas Moser. Moser’s comments on Thursday reflected the previously stated stance taken by...

Switzerland was the most expensive in Europe for food and non-alcoholic drinks in 2017 (+68% more than the EU average) (Keystone) Switzerland has been ranked the second-most expensive European country behind Iceland for consumer goods, which are 59% higher than the European Union average. Food and non-alcoholic drinks are particularly pricey. For the third year in a row, Switzerland was the most expensive in Europe for...

The number of people who applied for a Swiss driving licence dropped by 2% last year, with applications from 18- to 24-year-olds down 3%. Some 5.8 million people owned a driving licence for cars in 2017, the Federal Roads Officeexternal link said on Tuesday. This 1% increase was due not only to new drivers but also to foreign licences being exchanged for Swiss ones and natural population growth, it explained. + Why...

Swiss Federal Railways workers releasing balloons and demands in Zurich. Some 1,400 rail workers took to the streets across the country on Monday to protest a package of cuts and reforms planned by the Swiss Federal Railways. The demonstrations, called for by the Union for public transport workers (SEV), were spread across several Swiss cities: Geneva, Lausanne, Olten, Bern, and Zurich, where the largest event brought...

Switzerland still attracts a lot of wealth The stock market boom boosted personal financial wealth around the globe by 12% last year – to the benefit of Switzerland. It is still the world’s biggest centre for managing offshore wealth at $2.3 trillion (CHF2.3 trillion). Figures revealed in a Boston Consulting Group reportexternal link published on Thursday put the country ahead of Hong Kong ($1.1 trillion) and Singapore...

The former chief executive of Raiffeisen bank in Switzerland, Pierin Vincenz, spent 15 weeks behind bars. Vincenz was released on Wednesday (Keystone) The Swiss Financial Market Supervisory Authority (FINMA) has concluded its investigation into Swiss bank Raiffeisen, saying it identified “serious shortcomings” in governance. “FINMA has found that the bank’s handling of conflicts of interest was inadequate,” the...

Outpatient treatment is expected to grow faster than inpatient care over the coming years The average Swiss will for the first time spend more than CHF10,000 ($10,159) on health care in 2018 and 2019, according to an economic research institute and think tank. KOF, part of the federal technology institute ETH Zurich, says this is down to the growing economy: the more people earn, the more they spend on their health. It...

Spoiled for choice? More job offers continue to push down unemployment. The unemployment rate in Switzerland has reached a new nadir – just 2.4%, according to latest official statistics. The number of jobseekers is the lowest since the financial crisis. The statistics, published by the State Secretariat for Economic Affairs (SECO) on Thursday, show that the numbers of unemployed turning up at job centres fell by 9% last...

The strong franc is hurting Swiss exporters and the domestic tourism industry The continued volatility surrounding the Italian elections and the threat of global trade wars make it far too early for the Swiss National Bank (SNB) to consider raising rock bottom interest rates, says chairman Thomas Jordan. “It’s much too early at this moment,” Jordan told CNNMoney Switzerland. “The situation is still quite fragile...