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Federal Railways to slash budget

This content was published on Sep 7, 2011 The cost-cutting measures, in combination with more expensive tickets, are intended to help finance new rolling stock as well as higher access fees. The proposed savings total SFr550 million ($640 million). The company plans to reduce structural and administrative costs by SFr220 million by 2017, said CEO Andreas Meyer on Wednesday. “Efficiency will be improved,…

Switzerland named most competitive country

This content was published on Sep 7, 2011 The report, published on Wednesday, cited Switzerland’s technological capabilities and the effectiveness of its labour market as reasons for its good results in the overall rankings. It also said that Swiss scientific research institutes are among the best in the world. Switzerland has led the competitiveness ranking since 2009. This year it comes above Singapore,…

Media see risks in historic franc intervention

This content was published on Sep 7, 2011 But many commentators feel that by setting a minimum exchange rate target of SFr1.20 to the euro Switzerland is paving the way for inflation and isolation in Europe. The central bank said on Tuesday it was aiming for the “substantial and sustained weakening” of the safe-haven franc, whose rise of more than 20 per cent…

Finance committee rejects economic aid plan

This content was published on Sep 6, 2011 Commission president Margret Kiener Nellen told the media in Bern on Tuesday evening that the legal basis for the package was rejected by 13 votes to 12. The commission will return to the package after the Senate has debated it on Wednesday. The original SFr2 billion package, announced last month, met a storm of protest…

SNB toughens stance with euro rate target

This content was published on Sep 6, 2011 The move on Tuesday morning surprised foreign exchange markets and had the desired effect. The euro, which had been trading around SFr1.10 before the announcement, shot up to SFr1.20 afterwards. The intervention was welcomed unanimously by the main political parties and the business community. Economics Minister Johann Schneider-Ammann, who a day earlier had called on…

A third of Swiss feel stressed at work

This content was published on Sep 6, 2011 The report by the State Secretariat for Economic Affairs (Seco) says the causes are mainly time pressure, unclear instructions, social discrimination – such as harassment – and working in what is supposed to be free time. Additional factors are long work hours and the obligation to comply with ideas that they don’t support. “On the…

Central bank intervenes with euro exchange rate

This content was published on Sep 6, 2011 The central bank said it would “no longer tolerate” an exchange rate below that threshold and promised to take further measures if the economic outlook and deflationary risks required it. “The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development,” the…

Banks say US tax deal must respect Swiss law

This content was published on Sep 5, 2011 The US has turned up the heat on Switzerland after finding evidence that Credit Suisse and other banks allegedly helped its citizens to break the law by hiding their wealth from the tax authorities. The successful prosecution of UBS two years ago led to a Swiss-US treaty that severely dented Swiss banking secrecy laws by…

Swiss creates core community in Pakistan

This content was published on Sep 5, 2011 “Tap, tap, lift, lower,” a voice echoes through the house, making sure the keen exercisers are keeping their form strong and guiding them through all the core muscle conditioning movements to some funky tunes. Instructor Alessandra Bessler moved from New York to the Pakistani capital in August 2009, with the intention to source manufacturers for…

Zermatt scores high for transport offer

This content was published on Sep 5, 2011 The Transport and Environment Association rated 14 resorts using criteria such as accessibility with public transport and quality of bus services in the villages. Zermatt and Saas Fee scored well for having good rail (Zermatt) and bus (Saas Fee) connections, good bus services in the villages and a proactive communications policy promoting public transport. The…

Internal: Archive

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Internal: Archive

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Federal Railways to slash budget

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Switzerland named most competitive country

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Media see risks in historic franc intervention

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Finance committee rejects economic aid plan

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SNB toughens stance with euro rate target

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A third of Swiss feel stressed at work

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Central bank intervenes with euro exchange rate

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Banks say US tax deal must respect Swiss law

More

Swiss creates core community in Pakistan

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Zermatt scores high for transport offer

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