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 […]
Swiss franc one of only two overvalued currencies
Periodically, the Economist magazine judges the value of currencies based on the prices of Big Macs. This time around the burger price comparison found only two currencies to be overvalued relative to the US dollar: the Norwegian krone and the Swiss franc. The franc was almost 20% overvalued according to their analysis – click here […]
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 […]
New Grand Saint Bernard puppies arrive in Switzerland
On 9 January 2020, Barryland, a foundation in Martigny dedicated to preserving and showcasing the iconic Grand-Saint Bernard dog, announced the arrival of ten new pups. The five female and five male pups were born on 24 December 2019, just in time for Christmas. Both the mother and father are short haired dogs of the […]
Swiss get more PET recycling points in bid to close recycling gap
In Switzerland, 82% of PET plastic bottles are recycled, 12% less than the 94% rate for glass bottles. The Swiss PET recycling association has been hard at work with municipalities, retailers, schools and transport network operators expanding the number of PET collection points in the hope of closing this gap. In 2019, an additional 3,000 […]
2020 Winter Youth Olympics kick off in Lausanne
The 2020 Winter Youth Olympic Games were declared open in Lausanne on 9 January 2020, by Simonetta Sommaruga, Switzerland’s president. The 8,000 spectators present at the Vaudoise Arena saw seven stories performed by local youth emphasising the Olympic spirit and the theme of home – Lausanne is the home of the Olympic governing body. Participants competing […]
Trump to attend World Economic Forum in Davos
US President Donald Trump plans to attend the annual World Economic Forum (WEF) meeting in Davos this month, according to a White House press release. The press release said a Presidential Delegation will attend the World Economic Forum in Davos-Klosters, Switzerland, from January 20 to January 24, 2020. The delegation will be led by Steven […]
