Tag Archives: Swiss Markets and News

The Swiss company RUAG made the news last week when investigators were called in to look at information relating to the sale of ammunition. But what is this company? RUAG Ammotec stand at Berlin Airshow 2016 © Sergey Kohl _ Dreamstime.com - Click to enlarge According to RTS, the investigation revealed contracts for the sale of ammunition to Russia that had not been properly declared, RUAG triggered the investigation...

A traquil view of the Loentsch power plant on Lake Kloentaler in canton Glarus. (Keystone/Roland Schuler) - Click to enlarge The electricity consumed in Switzerland is ever greener, according to government statistics: some 62% comes from renewable sources, while nuclear has fallen to 17%. The figures (in French/German)external link were released on Monday by the Federal Office of Energy, which gathers each...

The agile fintech has so far been able to slip over EU borders (Loanboox) - Click to enlarge Award-winning Swiss fintech firm Loanboox is planning further expansion into Europe having obtained a foothold in Germany. The digital portal for matching institutions with investors plans a move into France and is also looking at other European markets. The Zurich-based company started off operations in Switzerland...

Illegal gold mining in Peru's Madre de Dios province has damaged the environment and had a negative impact on indigenous communities (Keystone) - Click to enlarge A report by the NGO Society for Threatened Peoples (STP) has accused Swiss gold refiner Metalor of procuring gold from controversial suppliers in Peru. Metalor denies the charge. The reportexternal link, released on Thursday to time with the...

In Switzerland, married couples file one combined tax return. Because tax rates rise in line with income it means that second incomes of married couples are taxed at a higher rate than those of single cohabitating ones. © Tero Vesalainen | Dreamstime.com - Click to enlarge Those campaigning to have this changed argue that it is unfair and acts as a disincentive for second income earners. In 1984, Switzerland’s Federal...

Despite the rise in foreign imports, the most popular cheeses are traditional varieties, such as the famous Emmental cheese. (Keystone) - Click to enlarge Switzerland may be living up to its cliché as a cheese loving nation, but a growing appetite for foreign brands has alarmed local farmers. On average the Swiss consumed 21 kilograms of cheese per person last year, compared to 18 kilograms across Europe,...

A 2016 taxi driver protest against Uber, in Bern. (Keystone) - Click to enlarge For the first time, the Swiss State Secretariat for Economic Affairs (SECO) has clearly indicated that Uber taxi drivers should be classed as employees rather than self-employed. In an internal statement seen by the 10vor10 programme on Swiss public television, SECO gave the legal opinion that according to the conditions that...

Swiss Federal Railways CEO Andreas Meyer presented the company's annual figures on Tuesday at a press conference in Bern. (Keystone) - Click to enlarge The Swiss Federal Railway’s net profit increased by CHF18 million ($19 million) to CHF399 million ($418 million) last year despite posting a loss in its troubled freight division. The company confirmed a previous decision to cut 800 freight jobs but plans to...

Salt, formerly called Orange, is already established in the Swiss mobile market. (Keystone) - Click to enlarge Mobile telephone operator Salt has announced that it will begin offering landline services in Switzerland, in a move set to intensify competition amongst current providers. Salt, which is already an established player in the mobile market, announced on Tuesdayexternal link that it would be proposing...

US metal industry trade disputes could disrupt the Swiss economy indirectly (Keystone) - Click to enlarge Ongoing global trade disputes involving the United States are casting a potential shadow over Swiss economic growth, along with other international events, such as the Italian elections and Brexit. However, the Swiss economy is forecast to expand 2.4% this year and 2% in 2019. The Swiss State Secretariat...