Tag Archives: Business

E-voting: for opponents unsafe, for supporters a way to boost voter turnout. © Keystone / Jean-christophe Bott The Swiss Post’s e-vote system is opening itself to attacks by ethical hackers in an effort to weed out security flaws. The window for the test runs until September 2, during which time hackers will be able to launch attacks on the source code under realistic conditions, Swiss Post said on Monday. Sample voting cards will be provided to the hackers, who will...

Credit and debit cards are more popular than cash payments the survey has confirmed. Keystone/Martin Ruetschi A new survey has confirmed a growing role of debit and credit cards as popular payment method in Switzerland. Some 52% of respondents in a survey said either of the cards were absolutely indispensable for them, the independent online comparison service, moneyland.ch, said. The share of respondents who prefer cash dropped to 30%, down 4% on the previous year,...

© Keystone / Walter Bieri Swiss retail banks make the most profit per customer among wealthy nations, according to an international ranking. The Swiss banks are followed at a respectable distance by their Australian and Belgian competitors, according to a study by consulting firm Pricewaterhouse Coopers (PwC) published on Wednesday. According to the study, Swiss retail banks will have earned an average of CHF546 ($559) per customer by 2021, compared with CHF299 for...

Julius Bär has been charging negative interest on Swiss franc, euro and Danish krona deposits. Keystone / Ennio Leanza Wealth manager Julius Bär has joined a growing list of Swiss banks that will no longer pass on the cost of negative interest rates to clients. The decision to scrap charges from August 1 on Swiss francs, euros and Danish kroner follows an interest rate rise by the European Central Bank this week and a similar move by the Swiss National Bank (SNB) in...

The Ukraine war has heightened volatility and reduced client appetite for risk. © Keystone / Gaetan Bally The ongoing war in Ukraine has been partly blamed for losses at a prominent Swiss asset management company. The entire Swiss industry suffered a dip in fortunes in the first six months of year as extreme market volatility reduced the value of investments and caused clients to play safe with their money. Independent asset manager GAM Group warns that it expects to...

Brazil is the world’s second-largest producer of soy after the US. Keystone / Andre Penner Six of the world’s biggest commodity traders have committed to help some of their largest indirect suppliers source soy sustainably in Brazil’s vulnerable Cerrado region. On June 21, Viterra (formerly Glencore Agriculture), Bunge, ADM, Cargill, LDC and COFCO – as part of a joint partnership called the Soft Commodities ForumExternal link (SCF) – announced their intention to get...

The spectre of a shortage of gas supplies in western Europe has dampened the economic outlook for Switzerland. Keystone/Stefan Sauer The BAK Economics market research institute has confirmed its forecast for the Swiss economy this year, but it is more pessimistic about 2023. The Basel-based institute said it expected growth of Switzerland’s gross domestic product of 2.5% in 2022, as the economy coped well with a series of challenges. However, the BAK experts have...

The pursuit of decentralised digital systems continues despite a period of intense turbulence in the cryptocurrency markets. Keystone/ Valentin Flauraud The price of bitcoin has plummeted to a third of its peak value, an experimental cryptocurrency called Terra has crashed in spectacular fashion and several crypto companies have shed jobs or are faced with bankruptcy. Where does this leave the growing blockchain industry in Switzerland? “The market crash is going to...

If running a fintech start-up isn’t hard enough, then try pivoting to healthtech in mid-stride. The transition from digital payments to Covid diagnostics has proven a bumpy ride for Achiko, resulting in its shares being suspended from trading on the Swiss stock exchange. SIX Group, which runs the stock exchange, was forced to act on June 28 when auditor Grant Thornton raised doubtsExternal link about whether the indebted Zurich-based company could be assumed a going...

Berset, who is known for his elegant dressing style, has had a pilot licence for private aircraft for more than ten years. © Ti-press The Swiss interior minister, Alain Berset, on a private flight in neighbouring France has been forced to land by the French air force. A ministry spokesman said Berset misinterpreted information from the French air traffic control tower prompting an intervention by the French air force last week. Berset was able to continue his flight...