Tag Archives: Latest News

Swiss pharma sales to Russia hit an all time high in June this year. © Keystone / Gaetan Bally Swiss exports of medicines to Russia have risen sharply since the start of the Ukraine war, according to an analysis by business news agency AWP. This analysis, based on government foreign trade data, shows Swiss pharma generated record revenue of over CHF330 million ($342 million) in June alone from sales to Russia. Russia has been subject to numerous sanctions owing to...

SWISS flights to Germany are affected by the one-day strike at Lufthansa on Wednesday. © Keystone / Gaetan Bally The Swiss national carrier is cancelling around a dozen flights to Germany on Wednesday, owing to a one-day strike by ground staff at its German parent company Lufthansa. Swiss International Air Lines (SWISS) has cancelled flights from Geneva to Frankfurt (three return flights) and Zurich to Düsseldorf (also three return flights), airline spokeswoman Karin...

Since the start of the Ukraine war, Russia has clamped down on critical media and opposition inside the country. Sputnik Russia has threatened Swiss newspaper Neue Zürcher Zeitung with legal action after it published critical reports and a caricature of Russian President Vladimir Putin. In a letter to NZZ editor Eric Gujer published on Saturday on the Russian Embassy in Switzerland’s press service website, it said it was “outraged” by publication of an “insulting...

Swiss supermarkets offer a wide choice of alternatives to animal-based milk © Keystone / Gaetan Bally Plant-based dairy products continue to gain in popularity in Switzerland, with sales of plant-based milk more than doubling since 2017. However, dairy substitutes still occupy a niche in the overall market. Last year dairy substitutes generated sales of CHF172 million ($175 million) in the retail trade, the Federal Office for Agriculture (FOAG) said on...

Dreaming of being on holiday Keystone / John G. Mabanglo Almost every second flight from Zurich Airport has been delayed since the beginning of June, with travellers facing more delays this summer. Between June 1 and July 10 an average of 46% of aircraft took off from Zurich with a delay of more than 15 minutes, according to an analysis by the news agency AWP. On average, passengers had to wait around 40 minutes. Most delays were of an operational, technical or...

The pool of Swiss IT specialists is almost dry © Keystone / Christian Beutler The Swiss economy has recovered well from the Covid-19 crisis, but despite the free movement of people agreement with the EU, some sectors are struggling to recruit qualified staff, says a government report. The unemployment rate in spring 2022 returned to its pre-pandemic level for both Swiss and foreign employees, according to the 18th report of the Observatory on the Free Movement of...

Empty supermarket shelves in Pokrovsk, Ukraine, on July 2 Keystone / Orlando Barria Switzerland will double its aid to Ukraine to CHF100 million ($104 million) by the end of 2023, Foreign Minister Ignazio Cassis announced at the Ukraine Recovery Conference in the Swiss city of Lugano. He also freed up CHF15 million to support the country’s digital economy. “Ukraine has to lead [its reconstruction] but we have to support it,” said Cassis, who also holds the rotating...

The seven cartel members had fixed the prices of new Volkswagen cars for years Keystone / Filip Singer A group of Volkswagen dealers in southern Switzerland has been fined CHF44 million ($46 million) by the Federal Competition Commission (Comco). The seven cartel members, including car importer AMAG, had fixed the prices of new Volkswagen cars for years. “The car dealers colluded on all sales activities in Ticino. They made deals on public sector submissions, agreed...

Cars in Zurich. From the point of view of the environment and climate alone, transport caused an estimated CHF6 billion of damage in 2019 © Keystone / Gaetan Bally Negative costs on third parties caused by transport in Switzerland amounted to CHF14 billion ($14.7 billion) in 2019. The damage mainly affects the environment and climate, but also health. The Federal Office for Spatial Development said in a reportExternal link on Tuesday that traffic in Switzerland...

Switzerland, home to many big multinationals, has an average corporation tax rate of just under 15%, but some of its individual low-tax cantons such as Zug (in photo) have lower rates again. Keystone / Alessandro Della Bella Switzerland will implement from 2024 the minimum tax rate for large multinational firms under a global tax deal. The federal government will get a quarter and regional and local authorities three-quarters of revenue, it said on Thursday,...