Switzerland's economic growth projection for 2017 was downgraded as activity turned out disappointingly weak in the second half of last year. In the Spring forecast, the State Secretariat for Economic Affairs (SECO) said it expected economic growth of 1.6% in 2017, down from the forecast of 1.8% it gave in December. The downward adjustment to resulted from a "sluggish close of 2016," SECO said.
Progress in making women equal to men in the economy is painfully slow, and women are still more likely than men to live in poverty, says the report, entitled “An Economy that Works for Women” published by Oxfam. According to the source, globally, the average gender pay gap is 23 percent and 700 million fewer women than men are in paid work. The compiled data reveal that women carry out between two and 10 times more unpaid care work than men, which is worth $10 trillion to the global economy each year, equivalent to over an eighth of the world’s entire GDP, “Women’s disproportionate responsibility for the work squeezes the amount of time that they have to go to school and earn a living.
The most beloved passport in the world by rich people is not American. European citizens are the owners of the most valuable passports in the world with the top ten spots all countries in Europe. But the world’s most powerful passport belongs to Sweden. The findings come from offshore consulting firm Nomad Capitalist, who have ranked 199 passports globally.
The Swiss economy expanded marginally in the fourth quarter, figures from the State Secretariat for Economic Affairs (SECO) showed Thursday. Gross domestic product grew by a less-than-expected 0.1% sequentially, the same pace of expansion as seen in the third quarter. Economists had forecast a quarterly growth of 0.4%. The SECO had earlier estimated flat growth for the third quarter. Switzerland’s export-oriented economy has faced headwinds due to the strength of the franc, which central bank policy makers have repeatedly called “significantly overvalued.” Better growth in the neighboring euro area may help Switzerland, where the manufacturing, retail and tourism sectors have all been negatively affected by the currency. Imports of goods logged a sequential growth of 0.2%, while services import declined 5.2%. The year-on-year growth more than halved to 0.6% in the fourth quarter from a revised 1.4% in the previous quarter. Economists had forecast the growth rate to remain steady at the third quarter's original figure of 1.3%.
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The Swiss franc’s high value continues to have a negative effect on the confederation’s economy, especially compared to the euro quoted an expert as reporting on Monday. Andrea Maechler, one of the three members of the Swiss National Bank’s (SNB) governing board, told Swiss newspaper Tribune de Geneve that in addition to the currency valuation, other factors including interest rates, changes in prices and the global situation must also be taken into account when assessing the confederation’s economic outlook. “It’s clear that the strong Swiss franc remains a big challenge for many businesses in Switzerland,” Maechler told in the interview.
President Trump argues that too many US workers have lost their jobs to foreign peers as companies have offshored manufacturing. US companies need to bring those jobs back and, in doing so, restore America’s industrial greatness. His diagnosis isn’t altogether wrong: fewer companies manufacture cars, for instance, in the US than was previously the case. But this thesis is too simplistic.
Startups need to build a growth plan and exit path early in their life cycle to unlock the value cre
Molti investitori istituzionali stanno iniziando a prendere sempre più in considerazione anche le m
The Responsible Finance Institute (RFI) Foundation and the Swiss Arab Network organize the RFI Summi
FinLantern is glad to invite you to a “Sustainable Apero”
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