Swiss consumer prices rose 3.4% in June, more than economists had expected, the first time since July 2008 that inflation exceeded 3%. This is the fifth month in a row that prices have risen above the central bank’s target for price stability. Prices rose 0.5% from May as fuel, heating oil and vegetables became more […]
Tag: Switzerland
Switzerland: The first marriages of same-sex couples took place in the country
The first same-sex couples said yes today in Switzerland, which officially adopted marriage for all in a referendum less than a year ago. Among the first newlyweds, Aline, 46, and Laure, 45, who have been a couple for the past 21 years, said “I do” under the imposing ceilings of the Palais Einardo in Geneva. […]
Switzerland: Geneva has become the center of a Russian spy network
The Swiss Federal Intelligence Service claims in a report that Geneva has become a coordination center for Russian espionage in Europe. According to the Swiss secret services, the number of Russian secret agents is estimated at at least dozens. The report states that after several European countries began exposing and deporting Russian spies, the Russian […]
Switzerland: Bought Russian gold for the first time since the invasion of Ukraine
Switzerland has imported gold from Russia, for the first time since the invasion of Ukraine, in a move that could mean the industry’s attitude toward the country’s precious metals could soften. More than 3 tonnes of gold were transported to Switzerland from Russia in May, according to the Swiss Federal Customs Administration. This is the […]
Switzerland imported Russian gold in May for the first time since the attack on Ukraine
Switzerland imported gold from Russia in May for the first time since the Kremlin sent troops to Ukraine in February, according to Swiss customs on Tuesday. Switzerland is the largest gold transit center in the world and Russia is one of the largest producers of gold. Western sanctions on Russia have not directly targeted commercial […]
The heat of southern Europe is being transferred to Germany and Switzerland
The heatwave that has plagued southern and western Europe for many days, with extreme temperatures and forest fires such as those in Spain and near Berlin, is now moving towards eastern France and Switzerland. In northern Germany, the worst seems to have happened but the rest of the country is “still sweating”, according to the […]
CERN terminates cooperation agreements with Russia and Belarus
The famous European Center for Scientific Research CERN announced today that it will terminate the cooperation agreements with Russia and Belarus after their expiration, in 2024, due to the war in Ukraine. The CERN board took this decision yesterday and says it is ready to reconsider cooperation with the two countries “in the light of […]
Surprise move by the central bank of Switzerland – Raises the key interest rate by 50 basis points
LAST UPDATE: 12:29 The Bank of Switzerland (SNB) raised its key interest rate for the first time in 15 years today, aligning its policy with other central banks in tightening monetary policy to combat rising inflation. According to Reuters, the central bank raised its key interest rate to -0.25% from -0.75%, which has been in […]
Switzerland: Decreases growth estimates for 2022
The Swiss economy is expected to grow 2.6% in 2022, the government announced today, and became the last to downgrade growth estimates due to the war in Ukraine and uncertainty in China. The slowdown from the previous forecast of 2.8% growth in March was also due to rising food and energy prices, according to the […]
Switzerland: Growth of 0.4% in the first quarter
The Swiss economy grew 0.4% in the first quarter of 2022, the government said, mainly due to the strong rise in manufacturing and international demand that recovered after the pandemic. Excluding sporting events, GDP grew 0.5% in the quarter. Higher inflation and the conflict in Ukraine have not yet limited the recovery, as demand for […]