Tag Archives: Editor’s Choice

© Ys7485 | Dreamstime.com On 10 June 2022, Switzerland’s government adopted the latest set of EU sanctions against Russia and Belarus, including an embargo on crude oil and certain refined petroleum imports from Russia. The sanctions are the sixth package and were adopted by the EU on 3 June 2022. An embargo on oil imports from Russia by sea will be introduced progressively from early December 2022, and a ban on all Russian oil imports will then start two months...

On 10 June 2022, Switzerland’s government adopted the latest set of EU sanctions against Russia and Belarus, including an embargo on crude oil and certain refined petroleum imports from Russia. © Ys7485 | Dreamstime.comThe sanctions are the sixth package and were adopted by the EU on 3 June 2022. An embargo on oil imports from Russia by sea will be introduced progressively from early December 2022, and a ban on all Russian oil imports will then start two months later. Around 40% of the...

As the cost of living rises in Switzerland some are calling for pay increases. Guy Parmelin, Switzerland’s economics and education minister, says it is the responsibility of unions to negotiate pay rises, reports RTS. In an interview with the newspaper SonntagsBlick, Parmelin said it’s up to unions to negotiate wage rises. The government should not get involved in talks between unions and employers, he said. However, if required, the federal government could make adjustments to welfare...

On 7 June 2022, Swiss International Air Lines announced that around 2% of passengers on scheduled flights to destinations in Germany, Poland, UK and Los Angeles would be affected. A SWISS spokesperson said that bottlenecks at air control centres, ground and airport services in Europe and at SWISS were to blame. Personnel shortages at the airline are also reducing capacity. SWISS said around 10,000 passengers would need to make other travel arrangements while around 20,000 others would...

On 9 June 2022, Switzerland’s government announced that SWISS had repaid the loans the Confederation had guaranteed at the end of May 2022, ending the arrangement with no loss of public funds. After the Covid-19 pandemic severely impacted the aviation industry, Switzerland’s Federal Council decided in spring 2020 to provide support in the form of guarantees to the airlines SWISS and Edelweiss to bridge liquidity shortfalls. Banks granted SWISS and Edelweiss a credit line of up to CHF 1.5...

On 2 June 2022, Switzerland’s parliament adopted two motions to accelerate the adoption of solar panels. Photo by Los Muertos Crew on Pexels.com The first motion aimed to allow private individuals to earn better returns on the electricity they produce. Under the proposal they would be able to sell electricity to other individuals, municipalities and cantons without paying heavy network charges. 140 versus 48 voted in favour of this plan. A second change compels the...

Overall, in 2021, Swiss salaries shrunk by 0.2% in nominal terms and by 0.8% in real terms, given an annual rate of inflation of 0.6% across the year, reported the Federal Statistical Office (FSO) this week. Photo by Sora Shimazaki on Pexels.comHowever, when broken down, women saw an overall increase in pay of 0.6% while men on average saw pay fall by 0.7%. The difference reflects differences in the type of work undertaken by men and women. Pay for public sector...

On 2 June 2022, Switzerland’s parliament adopted two motions to accelerate the adoption of solar panels. Photo by Los Muertos Crew on Pexels.comThe first motion aimed to allow private individuals to earn better returns on the electricity they produce. Under the proposal they would be able to sell electricity to other individuals, municipalities and cantons without paying heavy network charges. 140 versus 48 voted in favour of this plan. A second change compels the use of rail and road...

Rules related to personal bankruptcy in Switzerland are tough compared to many countries. In effect, they give heavily indebted individuals breathing space rather than a clean slate. This week, Switzerland’s government put forward a plan to soften the rules. © Andranik Hakobyan | Dreamstime.comTo initiate personal bankruptcy proceedings (technically insolvency proceedings) in Switzerland requires funds of around CHF 5,000 to cover the costs of the court and other agencies to restructure...

As the prices of the fossil fuels used to produce electricity rise so must the price of electricity. According to the Association of Swiss Electricity Companies (AES), record market prices mean that a majority of electrical supply companies will have to charge their customers higher prices in 2023. © Valery Shanin | Dreamstime.comA survey run by the Association at the beginning of May 2022 found that half of electricity supply companies in Switzerland plan to increase electricity prices...