Tag Archives: Business & Economy

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. © Valeriya Potapova | Dreamstime.com 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 with...

Swiss salaries have risen according to a recently published report by Switzerland’s Federal Statistical Office. © Disqdr | Dreamstime.com The median gross monthly salary was CHF 6,5021 in 2016, CHF 313 higher than in 2014. 50% of Swiss workers earned more than this and 50% earned less. CHF 6,502 a month is an annual salary of CHF 78,024 (US$ 78,200). The extra CHF 313 is a 5% increase over two years. In real terms, after adjusting for inflation, it represents a rise of close to 7% – over 2015...

The cliché of Swiss trains always being on time is challenged by data published on the website opentransportdata.swiss. © Arne9001 | Dreamstime.com Analysis of this data by 20 Minuten, shows the most frequently delayed trains arrive from Italy. Mendrisio, near the Italian border in the canton of Ticino, was the worst performing station with 30% of trains delayed by 3 minutes or more. Italian delays also affect Swiss trains from Domodossola and Brig. The next stations on the train tardiness...

Swiss inflation reappeared in February 2018 and has continued. According to the Federal Statistical Office, inflation was 0.2% in April. Since the beginning of 2018, prices have risen 0.9%. © Björn Wylezich | Dreamstime.com Jan-Egbert Sturm of the KOF Swiss Economic Institute says it shows the Swiss economy is doing well, and that inflation is close to what is “normal” in Switzerland. When asked by CNN money what the Swiss National Bank’s response might be, Sturm was reluctant to guess at...

In 1939, Pilatus, a small aircraft maintenance company for the Swiss Air Force was founded in Stans in the canton of Nidwalden. By 1944 it had produced its first aircraft: the Pilatus SB-2 Pelican. Pilatus Porter PC-6 © Pilatus Aircraft Ltd However, it wasn’t until 1959 that Pilatus really took off with the launch of the Pilatus Porter PC-6. The PC-6 was so good at taking off from short rough runways it was sometimes used as a substitute for helicopters. It was a global hit. Airlines as far...

For those who fly regularly, living close to an airport might be convenient, but it’s also noisy. © Ifeelstock | Dreamstime.com To reduce noise, Basel-Mulhouse airport has decided to reduce the number of flights taking off between 11pm and midnight by half, according to a press release. Unlike Geneva airport, which is located entirely on Swiss soil but still operates a French side, Basel-Mulhouse, Switzerland’s third major airport is on French territory, but run by the Swiss. The history of...

Swiss unemployment is at its lowest for 3.5 years, according to the Swiss State Secretariat for Economic Affairs (SECO). © Gpointstudio | Dreamstime.com 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 low even when compared to March 2016 (3.5%) and March 2017 (3.4%). As usual French-speaking...

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 For most of those planning to visit Geneva, this price is, thankfully, an outlier. According to a report by the accounting firm PwC, the average nightly cost of a hotel in Geneva was €242.90 in...

According to Tribune de Genève, Hervé Falciani was arrested in Madrid last week at Switzerland’s request. Hervé Falciani – source: Wikipedia 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 sought refuge there in 2009. The information contained client information, some of which related...

At the end of March 2018, the Swiss National Bank (SNB), held 8.93 million A class shares compared to Mark Zuckerberg’s holding of 8.91 million, according to the newspaper Handelszeitung. © Bumbleedee | Dreamstime.com However, most of Zuckerberg’s shares are B class shares, a class of shares which is not quoted and give the founder control of the business. Zuckerberg holds 393.9 million of these. Together his A class and B class shares give him a 13.8% stake in the business, valued at around...