Switzerland’s leaders are concerned by the current volatility of electricity prices and have started planning for a potential disaster scenario, reported RTS. The war in Ukraine has impacted energy provision across Europe, said Swiss energy minister Simonetta Sommaruga on Thursday. Price movements have reached historical levels and could worsen if gas supplies from Russia stop. […]
Swiss bankruptcies jump in 2021
In 2021, the total number of bankruptcy proceedings opened against businesses and individuals rose by 9.1% compared with 2020, reported the Federal Statistical Office this week. At a cantonal level, Aargau recorded the greatest relative increase (+24.6%). The number of debt collection proceedings increased slightly, but remained within the average range of the past five […]
Switzerland continues to lead on patents per capita
On 5 April 2022, the European Patent Office (EPO) released data on European patent applications for 2021. With 8,442 filings across the year, Switzerland was ranked seventh overall behind the US (46,533), Germany (25,969), Japan (21,681), China (16,865), France (10,537) and South Korea (9,394). However, on a per capita basis Switzerland was first by a […]
Swiss health insurance could jump by 9% next year
According to the newspaper Le Matin Swiss health insurance premiums could rise by 7% to 9%, reported RTS. The future rise in the cost of health insurance is estimated based on data on the rising healthcare costs being passed on to health insurance companies. According to the data, costs rose during the second half of […]
Swiss inflation rises further in March 2022
On 1 April 2022, Switzerland’s Federal Statistical Office published March inflation data, which show prices 2.4% higher than one year ago. Switzerland’s consumer price index (CPI) increased by 0.6% in March 2022 compared with the previous month. Inflation was +2.4% compared with the same month of the previous year. Swiss prices were driven higher by […]
Nestlé pulls popular brands out of Russia
Under public pressure Swiss food giant Nestlé announced it would pull certain brands in Russia. After fierce criticism from Ukrainian politicians and members of the public the firm said it would continue to sell essential foods while pulling popular brands such as KitKat and Nesquik. A growing number of western brands have suspended their operations […]
Swiss exports reach all-time high
Data published on 17 March 2022 showed a 15.4% jump in Swiss exports in February 2022. The sharp rise in exports when combined with a 2.9% fall in imports led to a monthly trade balance of CHF 5.7 billion. This is the first time in history that Switzerland’s monthly trade balance has exceeded CHF 5 […]
Swiss Covid debts could take 13 years to repay
Responding to the coronavirus is likely to have added between CHF 25 and 30 billion to Swiss federal borrowing, a sum that will only be known when the final calculation is made at the end of 2022. Paying this back is expected to take 11 to 13 years. The federal government said that repaying this […]
Swiss inflation jumps sharply in February
The high inflation across the world is rippling as far as Switzerland. During the month of February 2022, Swiss prices rose 0.7%. Compared to the same month in 2021, prices were 2.2% higher, making this the highest price increase in two decades. The 0.66% monthly consumer price rise in February represents an annualised rate of […]
Swiss prosecutor requests maximum fine for Credit Suisse for money laundering
This week, Switzerland’s Federal Prosecutor requested that Credit Suisse be fined the maximum of CHF 5 million allowed under Swiss law for money laundering related to its dealings with a network of Bulgarian drug traffickers, reported RTS. The trial began two and a half weeks ago at the Switzerland’s Federal Penal Tribunal in Bellinzona. Two […]
