Switzerland’s glaciers are melting like never before, an academic study released Wednesday found, with their ice volume declining by 6% this year amid rising concerns about global warming and a Continue Reading
Finland and Switzerland provided billions in financial support to power companies on Tuesday, as Europe scrambles to secure energy supplies in a deepening crisis sparked by Russia’s move to shut Continue Reading
Switzerland is to launch negotiations on the use of reserve power plants, the government said on Wednesday, as part of plans to bolster energy security for the coming winter. The Continue Reading
Swiss businesses would be first to have energy rationed in the event of supply shortages, Energy Minister Simonetta Sommaruga told the SonntagsZeitung, warning that the government cannot guarantee there will Continue Reading
Swiss inflation hit 3.4% in June. Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . Inflation in Switzerland accelerated to the fastest Continue Reading
The Swiss government is setting up a gas sector crisis intervention group and a monitoring system for early detection of an impending electricity shortage, it said on Wednesday, as it Continue Reading
Switzerland said it won’t allow the European Union ’s sanctions against Russia to be circumvented locally by prohibiting targeted Russian individuals or companies from opening new accounts with Swiss banks. Continue Reading
Exit polls on Sunday indicated that Swiss voters appear to have narrowly rejected a proposed “carbon dioxide law” that would have hiked fees and taxes on fuels that produce greenhouse Continue Reading
Swiss lender UBS (UBSG.S) said it has tightened its financing criteria for those involved in coal-fired power generation and mining, Arctic oil and tar sands, and would lay out a Continue Reading
Oil and other commodity trading have a much larger share in the gross domestic product (GDP) of Switzerland than its tourism sector, according to data from the Swiss State Secretariat Continue Reading
So-called ‘black swan’ theory was developed by author Nassim Nicholas Taleb to describe rare events that have an outsised, often negative impact and now the Bank of International Settlement is Continue Reading
Swiss voters have shifted the country’s political direction decisively leftward in elections that delivered a triumph for two environmentally focused parties and reversed decades of gains for the country’s hard Continue Reading
Last month Switzerland’s Pizol glacier, which has lost 80% of its volume since 2006, was remembered in a “funeral march” Climate change has risen to the top of Switzerland’s political Continue Reading
Glencore has become the latest energy heavyweight to succumb to climate change pressure and has announced it will stop raising its coal production capacity, CNBC reports . The Swiss company’s Continue Reading
Switzerland is close to launching an initiative to let companies sell food, medicine and medical devices to Iran using a payments channel that would be the first such mechanism to Continue Reading
The Swiss are praying for rain on the Rhine River before winter as low water levels restrict barges transporting supplies of heating oil to the land-locked European country. A tax rise on the fuel that takes effect next year makes the need even more acute. Water levels have slumped to the lowest in a decade, leaving fuel supplies stuck in the Netherlands and Belgium, where stockpiles are already at a seasonal record high because of a global glut. Vessels must sail with smaller-than-normal cargoes to avoid getting held up. Jaegers Shipping in Rotterdam, which operates 115 barges in that area, has told customers it can’t deliver some contracted volumes because of the Rhine levels. “It’s a matter of going to church every night and lighting a candle to hope that we will get some rain,” said Joachim Hessler, general manager of German operator Maintank Schiffahrtsgesellschaft mbH, whose barges are […]
ENLARGE The Tamoil Suisse refinery in Collombey, Switzerland, shown here in a file photo, closed in March. Iranian interests are looking to buy the property. Photo: Reuters Iranian companies are trying to buy a Swiss petroleum refinery, according to people familiar with the deal, as Tehran seeks outlets for oil that may return if western sanctions are lifted later this year. Petro Farhang, the oil-investment subsidiary of Iran’s teacher pension fund, and Ghadir Investment, a conglomerate with petrochemical businesses which is controlled by Iranian pension funds, have registered a formal expression of interest to buy a refinery in Collombey, Switzerland, controlled by Libyan firm Tamoil Suisse, according to people familiar with the move. Stephane Trachsler, general secretary of Tamoil Suisse, said the company had rejected all potential bidders so far. He declined to confirm the approach by the Iranian companies but he said one potential bidder had been refused […]
