Klaus Schwab, 87, the founder and long-time figurehead of the World Economic Forum (WEF), has resigned as chairman, marking the end of an era for the organization he created in 1971. His departure was announced on 20 April 2025, following an extraordinary board meeting, according to a WEF official statement. Interim CEO Peter Brabeck-Letmathe, a […]
Swiss Citizens’ Assembly backs sugar tax in health push
The Citizens’ Assembly, a group of citizens chosen at random to discuss and find common ground on contentious issues, has backed a proposal to introduce a tax on sugary foods and drinks as part of a broader push to improve public health in Switzerland. The measure is one of six reforms endorsed by the 100-member […]
Upcoming vote puts Switzerland’s wealthy under the spotlight
Switzerland is a wealthy nation, but as elsewhere, wealth is not evenly distributed. According to SRF, nearly 400,000 Swiss residents have assets exceeding CHF 1 million. The richest 1% of taxpayers hold 45% of the country’s total wealth, while the bottom 62% own just 3%. The remaining 37% of taxpayers own the remaining 53%. To […]
Toblerone reclaims its Swiss identity
Since shifting part of its production to Slovakia in 2023, Toblerone has no longer qualified to claim it is Swiss made. The iconic Matterhorn vanished from its packaging, replaced by a generic peak. Now, its owner, the US multinational Mondelez, plans to reconnect the product with Switzerland, reported SRF. After losing the right in 2023 […]
Swiss exporters brace for US tariff blow
The 31% tariffs announced by the Trump administration this week, were described by some analysts as like taking a sledgehammer to Swiss trade. Some industries are already eyeing alternative markets to cushion the blow, reported RTS. However, Switzerland’s industry sectors will feel the impact of new American tariffs unevenly. While the pharmaceutical industry has so […]
Swiss government decides against a direct response to US tariffs
Following President Donald Trump’s announcement of a 31% tariff on Swiss goods, the Federal Council has opted for diplomacy over retaliation, it announced on Thursday. It said it will closely examine the measures and their implications but has no immediate plans to introduce countermeasures. The Swiss government expressed concern over the steep tariffs, describing them […]
Switzerland edges toward revisiting nuclear power
Switzerland’s Federal Council is seeking to lift the country’s ban on new nuclear power plants. This week, it presented a counter-proposal to the “Stop Blackout” initiative aimed at securing the country’s energy supply, reported RTS. However, many political parties, cantons and energy stakeholders remain unconvinced. Opposition from the Green Party, the Green Liberals and the […]
FIFA: court acquits Blatter and Platini on fraud allegations a second time
This week, a Swiss court upheld the acquittal of former FIFA president Joseph Blatter and former UEFA president Michel Platini on fraud charges, SRF reported. The public prosecutor had sought suspended prison sentences of one year and eight months for the two defendants over questionable payments. However, both Blatter (89) and Platini (69) were acquitted. […]
Swiss central bank cuts interest rate to 2.5 year low
While many central banks, such as the US Fed and the Bank of England, are holding off on rate cuts, the Swiss National Bank (SNB) is diving in. On 20 March 2025, the SNB cut its interest rate by a further 0.25 percentage points to 0.25%. The rate hasn’t been this low since September 2022, […]
Switzerland approves trade deal with India
On 21 March 2025, Switzerland’s parliament approved an historic trade deal with India. The deal will give Swiss businesses an advantage over EU, US and UK competitors whose governments have yet to reach trade deals with India. The deal was supported by 131 versus 22 parliamentary votes. The main opposition came from Socialist Party members […]
