Dollar Gains Against Other Major Currencies
OTTAWA (dpa-AFX) - The U.S. dollar gained ground against its major rivals on Tuesday, after Federal Reserve Chairman Jerome Powell said that U.S. economic outlook has clearly brightened amid faster vaccination rates and fiscal stimulus.
Powell however cautioned that the economy is not out of the woods yet and added, While the recovery is gathering strength, it has been slower for those in lower-paid jobs.
The central bank is focused on these longstanding disparities as they weigh on the productive capacity of the economy, he added.
U.S. Treasury Secretary Janet Yellen said in an interview that the Federal Reserve may have to hike interest rates to keep the economy from overheating.
Switzerland to participate in 109th Session of the International Labour Conference The Federal Council Bern, 28.04.2021 - Switzerland will participate in the 109th Session of the International Labour Conference (ILC), to be held virtually on 20 May and 3‒19 June 2021. On 28 April the Federal Council appointed the members of the tripartite delegation (employers, workers, government) which will represent Switzerland at the ILC.
President Guy Parmelin will open the conference, which is being held virtually this year by way of exception. Switzerland will commit to ensuring that the ILO can build on its normative framework, tripartite nature and social dialogue and reassert its leading role in the global labour market crisis.
4 Min Read
ZURICH, April 22 (Reuters) - Swiss consumers are set to boost the country’s post-COVID-19 economic recovery, economists say, by using the mountains of cash saved during the crisis to fuel a spending spree.
Wealthy Switzerland’s savings rate - the average amount of disposable income not spent - rose nearly 50% last year, to 19.9% from 13.8%, as restrictions to curb the pandemic cut consumption, according to the KOF Economic Institute.
Households saved 89 billion Swiss francs ($97.27 billion), a jump from 60 billion francs put aside in 2019.
“During the COVID crisis last year there were simply less opportunities to spend money,” said KOF economist Michael Graff.
Swiss firms get international boost for exports
Major infrastructure building projects abroad are could be an opportunity for Swiss companies to expand their business activities. Keystone/Joerg Sarbach
The government has pledged CHF7.8 million ($8.5 million) over the next three years to help Swiss companies participate in major infrastructure projects abroad.
This content was published on April 21, 2021 - 12:48
April 21, 2021 - 12:48
swissinfo.ch/ug
The aim is to coordinate cooperation between the private sector and the government administration to help Swiss companies gain international visibility and identify possible business opportunities.
The Covid-19 pandemic has boosted the demand for sustainable solutions, and so-called “Re-Start” initiatives have increased competition, according to a statement by the economics ministry on Wednesday.