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This week, Switzerland’s Federal Prosecutor requested that Credit Suisse be fined the maximum of CHF 5 million allowed under Swiss law for money laundering related to its dealings with a network of Bulgarian drug traffickers, reported RTS. Swiss Federal Penal Tribunal in BellinzonaThe trial began two and a half weeks ago at the Switzerland’s Federal Penal Tribunal in Bellinzona. Two Bulgarians, one bank employee, one ex-employee and the bank appeared in court. Federal prosecutor Alice...

Switzerland has one of the lowest rates of home ownership. Most residents live in rented accommodation. Across the whole country, only 36.2% of homes were owned by their occupants in 2020, according to data published this week by Switzerland’s Federal Statistical Office (FSO). However, home ownership rates vary significantly depending on the canton. In popular urban areas, such as Basel, Geneva and Zurich, it sinks as low as 15.4% (Basel-City). Geneva (18%) and Zurich (27.4%) are both far...

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.comSince the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022, prices rose 16% from US$ 3,866...

Recently published statistics show that more than half of the residents in certain parts of France were employed in Switzerland in 2018. © Sergii Figurnyi | Dreamstime.comThe data, published by INSEE, a French statistics agency, found that more than half of households in the communes du Genevois, Pays de Gex and Annemasse-Les Voirons, all regions bordering Switzerland, contained family members who worked abroad, almost all of them in Switzerland. In the communes du Genevois, 67% of...

Data published this week by Switzerland’s Federal Statistical Office (FSO) show that the number of active workers in Switzerland rose to a record 5.239 million by the end of 2021. Photo by Lex Photography on Pexels.comThe number of people employed at the end of 2021 was 1.9% higher than at the end of 2020. 5.239 million represents around 73% of those 15 or older. Sharp rise in hotel and restaurant jobs The number of people actively working in hotel and restaurant jobs rose 8,700...

In Germany, the lowest-priced Netflix subscription is CHF 8,30 (EUR 7.99) a month. The same subscription in Switzerland costs CHF 11.90, a price 43% higher than in Germany. Photo by Karolina Grabowska on Pexels.comGiven the large difference between German VAT(19%) and Swiss VAT (7.7%), all other things being equal, Swiss subscribers should expect to pay 10% less than German subscribers. After accounting for the VAT difference the Swiss price premium widens from 43% to 58%. According to...

Winterthur-based Init7 recently started charging extra for replay TV. Other providers are set to follow, according to 20 Minutes. Photo by JESHOOTS.com on Pexels.comUntil recently, replay TV, which allows viewers to record shows and watch them at a time of their choosing, was included at no extra charge to subscribers. The problem with replay TV is that it allows viewers to fast forward through adverts, something that is costing broadcasters money. To recoup the lost advertising revenue,...

According to a recent report by the Federal Housing Office (OFL) there are an estimated 2,200 homeless residents in Switzerland and another 8,000 at risk of losing their homes. Photo by MART PRODUCTION on Pexels.comThe authors of the report collected information from 616 municipalities across 22 cantons to compile the data. 616 municipalities covers around 28% of Switzerland’s total. Reasons often cited for homelessness included overspending, debt, drugs and social factors associated...

Both the UK and Switzerland have lost access to the Europe-wide scientific research programme known as Horizon Europe. The UK dropped out when it left the EU and Switzerland when its bilateral talks with the EU broke down last year. © Denis Linine | Dreamstime.comThe programme supports big projects that would not be possible at a national level. More is more when it comes to making progress in many areas of scientific progress. In a bid to mend the cracks in European scientific...

Data published on 10 February 2022, show that one year after completion of tertiary education 93% of Switzerland’s graduates were employed in a job that matched their level of education or professional qualifications. © Wanida Prapan | Dreamstime.comThe survey, aimed at assessing the level of mismatch between education and employment, found that success at finding a job matching qualifications varied depending on the type of qualification, timing and regional differences in number of...