On 9 June 2023, UBS closed a deal with the Swiss government to cover 9 billion francs of potential losses it could incur from its takeover of Credit Suisse Group, reported Bloomberg. The guarantee relates to a specific portfolio of Credit Suisse’s assets currently valued at CHF 44 billion, equivalent to roughly 3% of the […]
No money for refugee container accommodation in Switzerland
Some in Bern hatched a plan to build accommodation out of shipping containers to cope with the expected influx of refugees into Switzerland. However, this week, the Council of States, Switzerland’s upper house, rejected a funding request for the plan, reported SRF. The Council of States had already spoken out against the idea last week […]
Inflation returns to Switzerland in May
Data published by the Federal Statistical Office on 5 June 2023 shows inflation was 0.3% over the month of May 2023, an annualised rate of 3.6%. The 0.3% rise in prices in May follows zero inflation in April 2023. Across the 12 months up until the end of May, inflation was 2.3%, compared to 2.7% […]
Switzerland moves close to changing definition of rape
This week, after much political back and forth, Switzerland’s federal government moved close to updating the nation’s laws on sex crimes, including rape. While the need to update the definition of rape, which is central to the legal revision, is uncontested, the details of the changes have proved controversial. Broadly, much of the debate has […]
No cost-of-living pay rise for Swiss parliamentarians
A 2.5% pay increase for Swiss parliamentarians to compensate for inflation was rejected this week by the Council of States, Switzerland’s upper house or senate, reported SRF. In Switzerland, working as a member of parliament is a part time job, typically occupying 60% to 80% of an individual’s working hours. On average they are paid […]
Switzerland’s rent rate rises paving way for rent hikes
Four times a year the rate of interest used to set the rents in Switzerland is reviewed. If the aggregate average mortgage rate goes down some renters can request lower rent. If it goes up some landlords can raise rents. This time the rate rose from 1.25% to 1.50%. Higher rents are likely to follow. […]
Lake Geneva’s big problem: it’s not mixing
For a lake to remain healthy the water needs to mix regularly. Oxygen rich surface water and nutrient dense bottom water need to mix to maintain a healthy ecosystem. In Lake Geneva mixing, which normally occurs annually, has not happened for 11 years. Without mixing surface water becomes nutrient-poor and there is too little oxygen […]
Paraplegic walks again thanks to Swiss implant
This week, researchers at the Swiss Federal Institute of Technology in Lausanne (EPFL) and the University Hospital in Lausanne (CHUV) tested a new system which allows the brain and spinal column to communicate. Dutchman Gert-Jan Oskam has been paralysed since a bicycle accident twelve years ago. Thanks to the implants, one in the skullcap and […]
Tobacco advertising could soon be effectively over in Switzerland
Switzerland has relatively accommodating rules regarding the advertising and sale of tobacco products. And it has correspondingly high smoking rates. That is likely to begin changing from next year, reported RTS. This week, the Federal Council sent parliament its position on how to implement the successful vote in February 2022 to ban tobacco advertising to […]
Men continue to dominate R&D in Switzerland
Data published this week by the Federal Statistical office show there are nearly twice as many men as women in research and development (R&D) in Switzerland. In 2020, 36% of R&D researchers were women (64% were men). In Europe, Switzerland trailed Iceland (45%), Portugal (43%), Spain (42%), Russia (39%) and Norway (39%) on this measure. […]
