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Tag Archives: 3) Swiss Markets and News

Swiss finance minister sees ‘clearly improved’ ties with US

G20 finance ministers and central bank governors attending the 2018 World Bank Group/IMF Spring Meetings in Washington on April 20, 2018 (Keystone) - Click to enlarge Relations between Switzerland and the United States have improved under the Trump administration, Finance Minister Ueli Maurer told Swiss public radio, SRF, on Saturday. Maurer is heading a Swiss delegationexternal link, together with Economics...

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Healthcare costs rise further in Switzerland

Statistics published today show a further rise in Swiss healthcare costs. © Aviahuismanphotography | Dreamstime.com - Click to enlarge In 2016, spending on healthcare rose by 3.8% reaching over CHF 80 billion, 12.2% of GDP. In 2015, Swiss healthcare spending was equal to 11.9% of GDP. The challenge of rising healthcare costs is not confined to Switzerland. In the UK in 2015, healthcare costs rose 3.6% to reach 9.9% of...

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Swiss unemployment at lowest in 3.5 years

Swiss unemployment is at its lowest for 3.5 years, according to the Swiss State Secretariat for Economic Affairs (SECO). © Gpointstudio | Dreamstime.com - Click to enlarge The last time Swiss unemployment reached March 2018’s level was in October 2014. After reaching a peak of 3.7% in January 2017, the rate had fallen to 2.9% by March 2018. Unemployment has some seasonality however the rate for last March (2.9%) is...

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Europe’s most expensive hotels in Geneva, Paris and Zurich

Across the road from Lake Geneva, sits Geneva’s and the world’s most expensive hotel suite. The Hotel President Wilson’s Royal Penthouse Suite is reported to cost $83,500 per night – the price is not listed on the hotel’s website but costs this much according to CNN. © Tacettin Ulas | Dreamstime.com - Click to enlarge For most of those planning to visit Geneva, this price is, thankfully, an outlier. According to a...

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Sika stand-off with family heirs continues unabated

Urs Burkard, representing the family heirs, appeals to the AGM during an address. (Keystone) - Click to enlarge During another stormy annual general meeting, the majority stakeholders of Swiss chemical manufacturer Sika were once again controversially denied the chance to vote in a new chairman who would support their plans to sell the company to a French rival. At Tuesday’s AGM, the family heirs of Sika’s...

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Insurance boss suggests Swiss health insurance deductibles of 10,000 francs

Philomena Colatrella, the CEO of Swiss insurer CSS Insurance, has stirred the lively debate around Switzerland’s rising cost of health insurance by proposing deductibles of CHF 5,000 and CHF 10,000 – deductibles set the amount people pay out of their own pockets before their insurance kicks in. - Click to enlarge Colatrella discussed the idea in an interview with Blick. The response to her comments was widely...

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Geneva hotels are the most expensive in Europe

The Royal Penthouse Suite at Geneva's President Wilson Hotel is reputedly the most expensive holiday room in the world. (Keystone) - Click to enlarge Staying in a hotel in Geneva costs more than anywhere else in Europe, according to an international survey. The €242.90 (CHF288 or $300) average charge per night puts Geneva ahead of Paris (€232.30), while Zurich is listed as the third most expensive...

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Swiss welfare recipient made to repay 173,000 francs

In some parts of Switzerland welfare payments are effectively loans that must be repaid when the recipient’s financial situation improves. © PeJo29 | Dreamstime.com - Click to enlarge According to the Aargauer Zeitung, a welfare recipient in the commune of Klingnau in the canton of Aargau received a bill of 173,000 francs after he came into some money. A windfall of 173,000 francs is rare, according to Rolf Walker,...

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“Swissleaks” author arrested in Spain at Switzerland’s request

Hervé Falciani – source: Wikipedia - Click to enlarge According to Tribune de Genève, Hervé Falciani was arrested in Madrid last week at Switzerland’s request. In 2008, Falciani a French-Italian who grew up in Monaco, took confidential information from the Geneva offices of HSBC, his employer, and fled to Lebanon where some claim he attempted to sell it. Later he shared the information with authorities in France and...

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SR Technics to cut jobs at Zurich airport

SR Technics has already shed more than 500 jobs in 2016 citing high staff costs (Keystone) - Click to enlarge Aviation support company SR Technics has announced plans to cut a net 200 jobs at Switzerland’s main airport as part of a business review. The company, which is part of China’s HNA group, announced that it could reduce its workforce in aircraft services by as many as 300 positions while adding more...

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