Tag Archives: Business

Sergio Ermotti, CEO of UBS, as seen during a press conference earlier this year (Keystone) The chief executive of Switzerland’s largest bank UBS received CHF14.2 million ($14.92 million) in compensation for 2017, up from CHF13.7 million in 2016, UBS said on Friday. The announcement comes at a time when executive pay and bonuses are under increased scrutiny in Switzerland. In all, the bankexternal link’s 11-person...

The Swiss firm, Stadler Rail, has rejected reports that it signed off on a major infrastructure contract with Iran’s Industrial Development & Renovation Organization for 960 wagons for an underground railway system. The companyexternal link said there is no deal or decision but merely a public tender, according to SRF public radio. The details of the reported deal remain unclear (Keystone) - Click...

Vincenz built Raiffeisen up during his tenure as CEO (Keystone) - Click to enlarge Zurich prosecutors have opened criminal proceedings against the former chief executive of Swiss banking group Raiffeisen, Pierin Vincenz, looking into suspicions of misdealing. The bank has also joined the probe as a private complainant. “Raiffeisen is therefore making a maximum contribution to the complete clarification of...

Mechanical industries like precision toolmaking are doing well lately. Photo taken at Feintool near Bern (© KEYSTONE / GAETAN BALLY) - Click to enlarge The Swiss mechanical, electrical and metal industries are recovering, as indicated by increases in turnover and employment. The industry lobby group Swissmemexternal link reported on Thursday that 4,500 additional jobs were generated in 2017 compared to the...

Companies in French-speaking Switzerland featured high up in the ranking. (Keystone) - Click to enlarge 23.3% of businesses in Switzerland did not pay their bills on time in 2017, found the business information service Bisnode D&Bexternal link in a survey published on Wednesday. That’s 0.3% less late-payers compared to 2016. The average delay of payments was also shorter in 2017, averaging 14.4 days,...

In the rental market, the construction of apartments remains “at a very high level” in Switzerland, the Credit Suisse economists wrote. (Keystone) - Click to enlarge The economic upturn should drive demand for Swiss property after a period of record construction and lower rental prices, a survey claims. The improved economic situation should “revive demand in all segments” of the Swiss housing market,...

77% of expats in Zurich reported that their disposable income had increased since moving to Switzerland's largest city. (Keystone) - Click to enlarge Zurich and Geneva are among the top cities in the world for expat salaries, according to this year’s HSBC expat salary survey. The average expat can look forward to a pay packet of $206,875 (CHF191,960) in third-place Zurich and $184,942 in fifth-place...

In Switzerland, where cash is king, a national crypto currency has failed to turn heads (Keystone) - Click to enlarge Mounting calls for Switzerland to introduce a blockchain-based national cryptocurrency continue to fall on deaf ears at the Swiss National Bank (SNB). Romeo Lacher, chairman of the SIX Groupexternal link that runs the Swiss stock exchange, recently added his voice to the debate by advocating...

The first of the new trains completed its journey from Zurich to Bern – and back. (Keystone) After years of delay, the double-decker train named ‘FV-Dosto’ completed its first rail journey on Monday. The fate of the rest of the 62-train fleet still pends on a court decision following a legal challenge by disabled groups. “There was no delay, everything ran smoothly”, Swiss Federal Railways spokesperson Christian Ginsig...

Business has declined by 14% over the past few years (Keystone) - Click to enlarge The cargo division on the Swiss Federal Railways has announced plans to cut 760 jobs in the coming years. The company currently employs around 2,300 staff in Switzerland. Company boss Nicolas Perrin revealed the job cut measures on Saturday in the weekly Schweiz am Wochenende. According to him, the administrative section of...