Speaking to CNN Money, Markus Will, a senior economist at St. Gallen University, described Trump’s speech, in which he didn’t mention climate once, as a “contradiction to the values of Davos.” “It was a nationalistic, domestic, state of the union address from Davos rather than an improving of the state of the world speech which […]
Saudis to cut funding of Swiss mosque
Constructed in 1978, the mosque located in Petit-Saconnex in Geneva is Switzerland’s largest. In a recent interview in Paris, Muhammad bin Abdul Karim Issa, Secretary General of the Saudi-based Muslim World League, the organisation that funded the mosque’s construction, told the newspaper Tribune de Genève that the organisation would stop managing and funding the mosque. In […]
Davos at 50 – hate, intolerance, vengeance and the environment
Today, Simonetta Sommaruga, Switzerland’s president, opened this year’s World Economic Forum (WEF) alongside the event’s founder, 81-year-old Klaus Schwab. This is the 50th WEF event in the Swiss Alpine resort of Davos. Ms Sommaruga said she was concerned about the state of the planet and the need to find the right balance between international politics […]
FILM: 1917 – a 4 star epic
19 January 2020. By Neptune. 1917 **** This film by English director Sam Mendes (“American Beauty”, “Revolutionary Road”, “Skyfall”) is not your usual war film. Not about the Russian Revolution of the same year but about WWI, it is dedicated to his grandfather’s stories of that conflict. Instead of making it ultra realistic as were […]
Swiss pension reform – closing the gender gap
The Swiss government is currently considering how to reform work-related pensions, known as 2nd pillar pensions. Pension finances are strained by longer life expectancy and low interest rates. Another issue is the low work-related pension savings of low earners and part time workers, groups women are far more likely to fall into than men. In […]
Swiss franc added to US Treasury currency manipulation watchlist
The US Treasury recently added Switzerland to its “monitoring list”. Those on the list are trading partners whose currency practices merit close attention. The list includes: China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam. It is no secret that the Swiss National Bank (SNB) has been actively trying to weaken the Swiss […]
Swiss National Bank expects annual profit of 49 billion francs
According to provisional calculations, the Swiss National Bank (SNB) expects to make a profit of around CHF 49 billion in 2019. Most of this comes from the rising value of the SNB’s foreign currency positions (+CHF 40 billion) and a valuation gain on gold holdings (+CHF 6.9 billion). After adjusting reserves, the SNB will have […]
Swiss government moves to reduce welfare payments to foreigners
In 2017, Switzerland spent CHF 8.3 billion on welfare. This comes out at between CHF 397 (Nidwalden) and CHF 2,029 (Basel-City) per person depending on the canton of residence. The figures were CHF 1,705 in Geneva, CHF 1,454 in Zurich and CHF 1,308 in Vaud – click here for figures for other cantons. The high […]
Running a Swiss business – changes in 2020
Every year brings changes for business owners and managers. In May 2019, a majority of Swiss voters accepted a package of changes to the way companies are taxed known as The Federal Act on Tax Reform and AHV Financing (TRAF). Many of the changes flowing from this begin on 1 January 2020. 1. Social insurance […]
