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☆ Swiss seek mandatory reporting of cyberattacks on key infrastructure
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Dec 2 (Reuters) - The Swiss government proposed on Friday making it mandatory to report cyberattacks on critical infrastructure as a way to help shed light on hackers and sound the alarm more widely. "Successful cyberattacks can have far-reaching consequences for the availability and security of the Swiss economy. The general public, authorities and companies are exposed to the risk of cyberattacks on a daily basis. Swiss stock exchange operator SIX, for example, saw an increase in hacker attacks around the start of Russia's invasion of Ukraine in February. European states have raced to protect energy infrastructure ranging from Norwegian energy installations to German power lines after blaming the Nord Stream pipeline leaks in September on sabotage.

☆ Swiss-based trust fund for frozen Afghan assets meets in Geneva
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

GENEVA, Nov 21 (Reuters) - The board of a Swiss-based trust fund managing some $3.5 billion in frozen assets seized after the Taliban took power last year is meeting in Geneva for the first time on Monday, a Swiss government spokesperson confirmed. The frozen central bank reserves were recently transferred from Washington into the 'Fund for the Afghan People' where U.S. officials say it will be shielded from the Taliban. The fund's statutes says its purpose is to "receive, protect, preserve and disburse assets for the benefit of the Afghan people". The $3.5 billion forms part of an original $7 billion being held in the United States following the Taliban takeover in August 2021. Ambassador to Switzerland Scott Miller, Anwar Ahady, a former Afghan central bank chief and former finance minister, and Shah Mehrabi, a U.S. academic who remains on the DAB Supreme Council.

☆ Swiss minister: economic situation means difficult years ahead
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 5 (Reuters) - The threat of recession in the euro zone and beyond, an energy supply squeeze and the eroding effect of inflation on purchasing power mean Switzerland faces difficult years ahead, Justice Minister Karin Keller-Sutter told the Neue Zuercher Zeitung. "I consider this mixed situation to be very difficult," she said in comments published on Saturday. In September, the Swiss government significantly cut its economic growth forecasts, citing growing risks from a "tense energy situation and sharp price increases". It now expects the country's economy to expand 2.0% this year, down from its June forecast for 2.6% growth. Writing by Paul Carrel; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss again reject German request to re-export Swiss ammunition to Ukraine
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 3 (Reuters) - Switzerland has again rejected an appeal from Germany to allow it to re-export Swiss-made ammunition to Ukraine, the government said on Thursday, saying such a move would violate Swiss neutrality. But Swiss Economy Minister Guy Parmelin gave the same response the Swiss government had given in June when it rejected an earlier request. "As the legal situation remains unchanged, approval of a transfer of Swiss war materiel by Germany to Ukraine is still not possible," it added. The 35mm shells were originally supplied by Swiss companies to the German army decades ago on the condition that it could not re-export the munitions without Swiss approval. Reporting by John Revill; Editing by Noele Illien and Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss govt to track corporate ownership in bid to curb money laundering
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

The cabinet asked the finance ministry to draft specific proposals by mid-2023 that could increase transparency by making it easier to identify corporate owners. But it has faced international pressure to shed more light onto the shadowy world of corporate ownership, where many companies cloak the identity of the real beneficiaries. The aim is to find a solution that is as effective and efficient as possible," it said in a statement. It asked the finance ministry to also consider steps to tighten anti-money-laundering rules, for example by widening their scope to include the legal professions, it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Michael Shields Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Switzerland on course for mild start to winter, easing energy supply fears - paper
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

The Mont Blanc mountain is seen from Finhaut, Switzerland, August 4, 2022. REUTERS/Denis Balibouse/File PhotoZURICH, Sept 25 (Reuters) - Switzerland is on track for a mild start to the winter and above average temperatures could even stretch into February, weather forecasters told the NZZ am Sonntag newspaper, raising hopes that energy supplies will not be overstretched. A mild start to the winter would help to ensure that gas supplies and water reservoirs do not empty too quickly. "The probability of above-average values is increased according to our weather maps," Carlo Buontempo, from the ECMWF's Climate Change Service, told the newspaper. Register now for FREE unlimited access to Reuters.com RegisterWriting by Paul Carrel Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

The building of the Swiss National Bank (SNB) is pictured in Bern, Switzerland June 16, 2022. The increase to 0.5%, from minus 0.25%, followed a 50 basis point hike in June from minus 0.75%, the SNB's first rate hike in 15 years. The SNB originally imposed negative rates in December 2014 and lowered them again in January 2015 to minus 0.75%. Negative rates were unpopular among Swiss banks, who saw them as a charge on their activities and also reduced lending margins. The Swiss Bankers Association said negative rates meant the country's lenders had borne the brunt of the fight against the appreciating franc.

☆ Swiss cut growth forecasts given energy risks and inflation
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - The Swiss government significantly cut its economic growth forecasts on Tuesday, citing increasing risks from a "tense energy situation and sharp price increases". "After a positive first half of the year 2022, the Swiss economy now faces a deteriorating outlook," SECO said. SECO increased its inflation forecast, saying it expected consumer prices to rise by 3% in 2022 and 2.3% in 2023. Previously it had expected inflation of 2.5% this year and 1.4% in 2023. Register now for FREE unlimited access to Reuters.com RegisterReporting by John Revill; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

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