On 16 June 2022, the Swiss supermarket Migros announced that its members had voted in favour of maintaining a ban on the sale of alcohol in its stores, restaurants and takeaway outlets across all 10 of its regional cooperatives. With record voter participation of more than 630,000 members (29%) – members were offered free chocolate […]
Swiss central bank surprises market with interest rate hike
On 16 June 2022, the Swiss National Bank (SNB) surprised markets with a 50 basis point rise to its policy rate. The move marks the first time Switzerland’s central bank has raised rates since 2007. Aimed at taming inflation, the announcement led to a 2% jump in value of the Swiss franc against the Euro […]
Swiss airspace closed after computer failure
On 15 June 2022, Swiss airspace was closed after a computer malfunction. At 6:30 am the Swiss air navigation service provider Skyguide reported a technical malfunction and announced the closure of Swiss airspace for safety reasons. Two hours later at 8:30 am Skyguide reported that the technical malfunction had been resolved. The outage affected several […]
Switzerland adopts latest round of EU sanctions against Russia
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 […]
Swiss minister calls on unions to negotiate pay rises
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 […]
SWISS cancels summer flights due to staff shortages
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 […]
SWISS repays Covid government guaranteed loans early
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 […]
Swiss government to ease personal bankruptcy rules
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. To initiate personal bankruptcy proceedings (technically insolvency proceedings) in Switzerland requires funds of around CHF 5,000 […]
Swisscom fixed and mobile networks out on Tuesday
Swisscom’s telephone network went down on Tuesday for 30 minutes, reported RTS. On Tuesday 3 May 2022 between 22:23 and 22:53 customers across Switzerland using Swisscom’s fixed and mobile networks were unable to access the internet. According to Swisscom, the outage was related to maintenance work. Much to the frustration of football fans the outage […]
Swiss consumer sentiment drops sharply in April
A survey published on 2 May 2022 shows a marked weakening of consumer sentiment in April in Switzerland. Consumers’ outlook for the general economic situation has turned far more pessimistic, said Switzerland’s State Secretariat of Economic Affairs (SECO). In April 2022, the consumer sentiment index plunged to -27, well below the long-term average of −5, […]
