Switzerland news and archive

Swiss exports face collapse: US tariffs threaten jobs and GDP

US tariffs have sent shockwaves through Switzerland: US President Donald Trump has imposed a 39 percent tariff on Swiss imports. “Everyone's prosperity is at risk,” warns Swissmem, the industry association for the tech industry. While importers and US consumers pay the tariffs, this makes "Made in Switzerland" so expensive that orders are likely...

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Swiss inflation rises to 0.2 percent in July

Swiss inflation rose again in July, reaching 0.2 percent year-on-year. This follows a dip into negative territory in May, which fuelled deflation fears, the Swiss Federal Statistical Office (SFSO) reported on Monday. In June, inflation had already climbed back to 0.1 percent year-on-year. It continued to strengthen in July, driven by a 0.7...

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Switzerland: Watch exports fall in May after record sales in April

Following substantial deliveries to the US in April, in light of impending tariffs, Swiss watch exports declined in May. However, the ‘boomerang effect’ proved less pronounced than anticipated, according to the Federation of the Swiss Watch Industry (FH). After a significant increase of 18.2 percent in April, Swiss watch exports across all...

Fashion

Mysterious diamond-laden necklace fetches 4.8 million dollars in Geneva auction

Geneva - A mysterious diamond-laden necklace with possible links to a scandal that contributed to the downfall of Marie Antoinette, sold for 4.8 million dollars at an auction in Geneva Wednesday. The 18th century jewel containing around 300 carats of diamonds had been estimated to sell at the Sotheby's Royal and Noble Jewels sale for 1.8-2.8...

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Swiss watch exports to China plunge 50 percent in September

Zurich - Swiss watch exports suffered their steepest fall this year in September, pulled down by a 50-percent plunge in sales to China, the industry's federation said Thursday. It marks the latest sign of weakening demand in the world's second-largest economy, which has hit Europe's luxury sector. Sales to Hong Kong also fell 34.6 percent during...