Tag Archive: Business & Economy

New 100 Swiss Franc Note Coming Soon

The note’s design is inspired by Switzerland’s tradition of humanitarianism, represented on the note by water. The note remains blue but is much smaller than the existing one, making it easier to fit into wallets.

Read More »

Most Swiss Election Candidates Favour Raising Retirement age to 67

A majority of the candidates putting themselves forward for election as federal parliamentarians on 20 October 2019 favour raising Switzerland’s retirement age to 67, according to a survey done by Smartvote and reported in the newspaper NZZ am Sonntag.

Read More »

Swiss Trade with Much of South America should Soon be Tarif Free

A deal agreed between EFTA and the South American Mercosur bloc, which includes Argentina, Brazil, Uruguay and Paraguay, with a combined population of 260 million, is close to signing. EFTA includes Iceland, Liechtenstein, Norway, and Switzerland. Under the deal, 95% of Switzerland’s CHF 3.6 million annual exports to the bloc would be tarif free.

Read More »

Swiss unemployment down in second quarter of 2019

In the second quarter of 2019, the percentage of Switzerland’s population working rose by 1.1% and the percentage unemployed fell to 4.2%, based on the higher International Labour Organisation’s (ILO) measure. In the second quarter of 2019, 5.1 million people were working in Switzerland, 60% of the population. The number working rose 1.1% compared to the previous year, particularly among women (+2.0%).

Read More »

Swiss Central Bank under Pressure as Franc Rises

Yesterday, the Swiss franc reached its highest level against the euro in two years. The EUR/CHF exchange rate reached 1.097 on 24 July 2019, a rate not seen since early 2017. Upward pressure on the franc is partly being driven by expectations of interest rate cuts by eurozone and US central banks. In addition, the franc is considered a safe haven currency and typically rises when global risk perceptions rise.

Read More »

Switzerland number one for expat pay and stability

In 2019, Switzerland came top overall in a ranking of destinations for expatriates to live and work, moving up from eighth last year. Singapore, which had held the top spot for four years in the HSBC’s list of the best countries for expatriates, dropped to second place.

Read More »

Why there is so much egg pasta in Switzerland

Strolling through the pasta aisle of a Swiss supermarket, someone new to Switzerland might conclude that the locals prefer egg pasta over the eggless variety. And, while that might to some extent be true, there is another reason.

Read More »

Swiss unemployment rate rises

There are various ways to measure unemployment. Switzerland’s standard measure looks at the number of people registered with unemployment offices across the country. By this measure Switzerland’s unemployment recently reached a 10 year low of 2.6%. Today, another unemployment measure was published. It shows a 0.1% increase in unemployment over the fourth quarter of 2018 to 4.6% or 227,000 people.

Read More »

Switzerland’s federal surplus even larger than expected

In October 2018, government number crunchers revised Switzerland’s federal forecast budget surplus up from CHF 0.3 billion to CHF 2.5 billion. Today, Bern announced that provisional calculations for 2018 now show a surplus of CHF 2.9 billion, CHF 0.4 billion more than last year’s revised figure. The increase was driven by strict spending discipline and higher than expected receipts, according to the press release.

Read More »

Nearly Half of Swiss Admit to Stealing

Either at work, at a restaurant, on public transport or in a shop, nearly half of Swiss admit to stealing, according to a survey by moneyland.ch. 49% of the 1,500 questioned in the survey admitted to pocketing something without paying.

Read More »

Swiss unemployment lowest in 10 years

Switzerland’s unemployment rate, now 2.6%, hasn’t been so low for 10 years, according to the latest figures from Switzerland’s State Secretariat for Economic Affairs (SECO). A weakening of the Swiss franc helped boost Switzerland’s economic growth, creating more jobs.

Read More »

VAT now applied to most foreign online shopping from 1 January 2019

In 2016, Switzerland’s government decided to tighten the VAT exemption on imported purchases, a move that affects most online orders from foreign retailers. The new rules took effect on 1 January 2019 – they were originally planned for 1 January 2018 but systems and processes were not ready.

Read More »

Police Warn of fake Swiss Franc Notes

Since the beginning of December 2018 more and more counterfeit 100 Swiss franc notes have been appearing in the Swiss canton of Valais in and around Sion and Conthey. The fake notes, which the local Police say can be spotted if compared to real ones, have been making their way into circulation via shopping centres, kiosks and service stations in the Sion and Conthey region.

Read More »

Swiss Unemployment Benefits Cut for a one-day filing delay

Switzerland’s unemployment benefits might be generous but they are strictly policed, as one recipient recently discovered. For a period of up to approximately two years after losing a job, most workers in Switzerland receive 70% of their former salary up to a maximum of CHF 88,200 a year – the amount paid varies depending on circumstances1.

Read More »

Majority favours later retirement for women, according to survey

In Switzerland, the official retirement age for women is 64, a year earlier than it is for men. A poll by gfs.bern shows that around two thirds are in favour of raising the retirement age of women to 65. Only 16% are against the idea, with a further 18% somewhat against it. Men (78%) are more in favour of the change than women (54%), according to the newspaper 20 Minutes.

Read More »

TV Recording could be under threat in Switzerland

With TV recording there’s no need to miss programmes just because they’re on at the wrong time. And, when it’s time to watch them, it’s easy to fast forward through the adverts, something that can’t be done when watching live. In Switzerland, television recording is offered by big distributers, such as Swisscom, Sunrise and UPC. Broadcasters don’t provide it.

Read More »

Swiss VAT might rise to fund lower company tax rates

Historically, Switzerland has offered certain foreign companies special preferential tax deals in order to attract them. In response to international pressure, the current system is to be phased out replacing preferential tax rates with lower universal ones in the hope that these companies will stay.

Read More »

Swiss Offshore Wealth Management Sector still World’s Largest by far

A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector. Total personal offshore wealth grew by 6% to reach US$8.2 trillion in 2017. US$2.3 trillion (28%) of this was managed in Switzerland. The top three offshore centres: Switzerland ($2.3 trillion), Hong Kong ($1.1 trillion) and Singapore ($0.9 trillion) made up more than half (52%) of the total.

Read More »

Vaud Plans Tax Cuts

The residents of Vaud are among the highest taxed in Switzerland. In 2016, a single person in Lausanne earning CHF 100,000 paid CHF 16,050 in cantonal and communal tax on top of CHF 1,840 of federal tax. This was the fourth highest across all of Switzerland’s 26 cantonal capitals, and almost triple Zug, the lowest, where the figure was CHF 5,750 – see chart below.

Read More »

Switzerland’s vote to change its monetary system – sensible or silly?

Sometimes Swiss voters are presented with questions that only specialists are equipped to answer. The vote on 10 June 2018 to change their monetary system appears to be one of these. On the surface it appears simple. Upon closer inspection it contains much complexity and uncertainty, compounded by a widespread misunderstanding of how the financial system works – banks do not act simply as intermediaries, lending out the deposits that savers place...

Read More »
Page 1123