Saturday , May 8 2021
Home / le News
The author Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

le News

Short expiry notice for Swiss banknotes sparks criticism

Last Wednesday, the Swiss National Bank (SNB) announced that old Swiss banknotes would no longer be legal tender from Friday, 30 April 2021. The short notice period has generated complaints and confusion. © Marekusz | Dreamstime.comThe eighth series of Swiss banknotes did not lose their value, however, they are no longer an accepted means of exchange. The only places they can still be used are at Swiss Rail and Swiss Post until the end of October 2021. They can however be exchanged at...

Read More »

Access forbidden!

Access forbidden! You don't have permission to access the requested directory. There is either no index document or the directory is read-protected. If you think this is a server error, please contact the webmaster. Error 403 lenews.chApache

Read More »

Renters charged fees to view apartments in Geneva

Some agencies in Geneva are exploiting the city’s tight property market by charging people money just to view apartments, according to a report by RTS. © Bogdan Lazar | Dreamstime.comA practice described as parasitic by ASLOCA, a rental association, involves an agency contacting those who have placed adverts for vacant apartments and offering them their services. The agency promises to find tenants at no cost to the advertiser if they take down their advert. It then makes its money by...

Read More »

Real Swiss salaries up most in 5 years

On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019. © Suwat Supachavinswad | Dreamstime.comIn 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose this much was in 2015 when the real increase was 1.5%. In both 2015 and 2020 negative inflation of -1.1% and -0.7% significantly...

Read More »

Old Swiss money no longer valid from Friday

From Friday 30 April 2021, old Swiss bank notes will no longer be legal tender. This means they can no longer be used as a valid means of payment. © Jean-michel Feinen | Dreamstime.comThe notes affected are old 10, 20, 50, 100, 200 and 1,000 Swiss franc notes. From 30 April 2021, the only places that will accept these notes are Swiss Rail and Swiss Post, who will accept them until 30 October 2021. After 30 October 2021, the only places that will accept these notes are the cash desks...

Read More »

Only 36% of Swiss own their homes

Recently published statistics show that 36% of homes are owned by those who live in them, a rate that falls to 12% in municipalities with more than 100,000 residents. Lausanne © Ocskay Mark | Dreamstime.comSwiss municipalities with the highest rates of home ownership (37%) have between 10,000 and 15,000 residents, a rate exceeding the smallest municipalities of less than 10,000 residents (31%). At a cantonal level, the cantons with the lowest rates of home ownership were Geneva...

Read More »

Health insurers encouraged to use reserves to cut or repay premiums

In 2020, total reserves held by Swiss health insurance companies reached CHF 11.3 billion, a level equivalent to 203% of the minimum required, according to RTS. © Andrey Popov | Dreamstime.comExcess reserves jumped recently after the government cut the minimum reserve level by one third, part of a move designed to encourage health insurers to align premiums more closely with costs. The government wants to reduce the chance of insurance companies dipping into reserves to support the...

Read More »

Switzerland books a federal deficit of 14 billion francs in 2020

On 14 April 2021, Switzerland’s federal government announced it had spent CHF 14.2 billion more that it had collected in revenue in 2020. © Marekusz | Dreamstime.comThe loss represents the federal government’s consolidated excess expenditure for the year and is linked to the consequences of the Covid-19 pandemic, according to the statement. An additional CHF 16.8 billion was spent as a result of the pandemic. Consolidated accounts include the results of companies linked to the...

Read More »

Minimum wage hurting young people in Swiss canton

Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS. © Kasto80 | Dreamstime.comA group of cantonal parliamentarians from the PDC (CVP) is pushing for a review of the situation in response to pressure from some young people. The group says that the CHF 20 floor on hourly wages is having a negative effect on the employment prospects of some job seekers, particularly...

Read More »

Cash makes a comeback in Switzerland during pandemic

At the beginning of the pandemic there were calls to avoid using cash for sanitary reasons. Contactless electronic payment was the recommended method of transacting. © Maksym Kapliuk | Dreamstime.comLast spring cash withdrawals from cash machines sank by 50% in Switzerland, according to the SIX Group. Across the whole of 2020, cash withdrawals from Swiss cash machines was down 23% and contactless payments were up, according to Le Temps. However, despite rising cashless payments and...

Read More »