This week, Switzerland’s Office of the Attorney General (OAG) announced it had fined and closed its criminal investigation against the mining company Glencore International AG. After a four year investigation, OAG closed its criminal investigation against the Swiss-based company and imposed a CHF 2 million fine for failing to take all necessary and reasonable organisational […]
How to avoid death and injury from lightning
Switzerland is no stranger to violent storms, which sometime come out of nowhere when hiking in the mountains. According to experts, most people struck by lightning survive. But the risks of suffering long term damage are high, reported SRF. The electricity discharged by lightning can be as high as 100,000 amperes, according to Christian Franck, […]
Instant payments to start soon in Switzerland
Currently, payments between Swiss bank accounts are typically processed the following day. From 20 August 2024, Swiss banks will start to roll out instant payments within Switzerland, reported RTS. The new instant payment system will move money within 10 seconds and will operate around the clock seven days a week. In addition to speed, the […]
Pension calculation error does not change future, argues statistician
This week, an error was found in the government’s calculation of the future hole in state pension funding. While the error, which overstates the shortfall by CHF 4 billion, is substantial, it does not change the trend, according to Stéphane Rossini, head of the Federal Statistical Office (FSO), reported RTS. The CHF 4 billion error […]
A look back at Swiss resistance to seat belt laws
Thirty years ago, Switzerland introduced rules making it compulsory to wear seatbelts in any seat where seatbelts are fitted. This made wearing seatbelts in rear seats compulsory for the first time, reported RTS. Adding a requirement to wear rear seatbelts was met with little resistance. However, in 1980 when a referendum was run on whether […]
Swiss hospitals lost a billion francs in 2023
Switzerland’s health system is under strain. New drugs and treatments combined with an ageing population, along with cost inflation are the main drivers. This week, KPMG published a report quantifying the hole in Switzerland’s hospital finances. Only 30% (14) of the 48 hospitals and clinics surveyed reported generating a profit. The other 70% were running […]
Swiss car battery recycler set for launch
A popular criticism of electric cars is the toxic battery waste they create. In response to this criticism and for the benefit of the environment a new factory in the Swiss town of Biberist in the canton of Solothurn is aiming to recycle 97% of the components of a range of car batteries, reported SRF. […]
Calls to end bank secrecy for Swiss residents
Under international pressure, Switzerland removed banking secrecy for foreign residents in 2009. However, laws ensuring bank secrecy for residents of Switzerland remain. Some politicians are now calling for the removal of all banking secrecy laws in the hope that it will increase tax revenue, reported RTS. With Switzerland’s federal government budget in the red politicians […]
Government advises Swiss to leave Lebanon
On 31 July 2024, Switzerland’s Federal Department of Foreign Affairs (FDFA) advised all Swiss nationals to leave Lebanon. In addition, it advised against travel to the country. Middle eastern conflict, which has been highly volatile since 7 October 2023, has had a significant impact on the security situation in Lebanon, wrote the agency. There have […]
Switzerland to return to Afghanistan
Switzerland will reopen its humanitarian office in Afghanistan in autumn 2024 instead of summer as initially announced, reported SRF. Four employees will be sent from Switzerland to oversee humanitarian projects financed by the Swiss federal government in the Afghan capital Kabul. According to the newspaper NZZ am Sonntag, a spokesperson for Switzerland’s Foreign Ministry confirmed […]
