Tag Archives: Editor’s Choice

 © Michael Müller | Dreamstime.com In 2019, the Swiss National Bank (SNB) made a profit of around CHF 49 billion. These profits came mainly from the rising value of the assets on the bank’s balance sheet. In 2019, the value of its holdings of foreign currency and gold rose substantially. When combined with interest, dividend income and gains on shares total profits for the year were CHF 49 billion. When combined with past retained profits, the SNB’s total accumulated...

In response to the increased spread of the novel Coronavirus Switzerland’s health authority has issued new hygiene advice, which includes avoiding hand shakes. © Rido | Dreamstime.comThis additional measure was added recently along with two others: dispose of used paper tissues in a sealed waste bin and always call ahead before going to the doctor’s or the emergency department. The government campaign ‘Protect yourself and others’ tells you how you can apply basic hygiene rules and...

In 2019, the Swiss National Bank (SNB) made a profit of around CHF 49 billion.  © Michael Müller | Dreamstime.comThese profits came mainly from the rising value of the assets on the bank’s balance sheet. In 2019, the value of its holdings of foreign currency and gold rose substantially. When combined with interest, dividend income and gains on shares total profits for the year were CHF 49 billion. When combined with past retained profits, the SNB’s total accumulated profits rose to CHF 88...

© Ocskay Mark | Dreamstime.com Every three months the rate of interest used to benchmark Swiss rents is reviewed. If it goes down some renters have the right to request a decrease in rent. This time the reference rate fell from 1.50% to 1.25%. The last time it dropped was 2 June 2017 when it fell to 1.5%. The rate is based on the average Swiss mortgage rate over three months. This rate is then rounded to the nearest 0.25%. On 31 December 2019 that rate was 1.37%,...

Every three months the rate of interest used to benchmark Swiss rents is reviewed. If it goes down some renters have the right to request a decrease in rent. This time the reference rate fell from 1.50% to 1.25%. © Ocskay Mark | Dreamstime.comThe last time it dropped was 2 June 2017 when it fell to 1.5%. The rate is based on the average Swiss mortgage rate over three months. This rate is then rounded to the nearest 0.25%. On 31 December 2019 that rate was 1.37%, which is closer to...

In 2017, 18.9% of Switzerland’s population lived in a household with outstanding debt repayments, a percentage that has rose from 17.7% over the proceeding 4 years.  © Kawee Srital On | Dreamstime.comThe most common forms of outstanding debts were taxes, health insurance premiums and phone bills. 9.9% of households had outstanding tax payments, 7.3% owed health insurance money and 5.2% had an outstanding telecommunications bill.  The most common reason for going into debt was to buy a...

Swiss Post has said it will no longer accept packages addressed to China, according to Tribune de Genève. © Wimseyed | Dreamstime.comBecause of the covid-19 virus, airlines have stopped or drastically reduced flights to China. This fall in air traffic has reduced postal service capacity to China by two thirds. Mail can still be sent if it is marked urgent, however delivery times cannot be guaranteed. Denmark, Georgia, Greece, Romania, Serbia, Singapore, Spain and the US have also...

For school pupils in canton Valais, skiing could soon be part of the curriculum under plans to create three obligatory snow sports days a year, the NZZ am Sonntag reports. © Corepics Vof | Dreamstime.comChristophe Darbellay, the canton’s education minister, wants to get young people back on skis to ensure the future of the sport, which generated CHF 758 million in Switzerland from lift passes alone in 2018/19. The project, which will cost CHF 2.7 million, has been approved by the...

To simplify labelling, many international retailers put recommended retail prices (RRP) for multiple nations on the same label, like the one below. The Swiss retail price premium laid bare.Labels such as these show how much more Swiss customers are being charged compared to customers in other countries. The label above, from an item of clothing sold in Switzerland, shows how much more Swiss customers are charged. The RRP for Switzerland is the highest. The Swiss pre-VAT price is 21%...

A commission for the canton of Geneva’s government supports a tax on added sugar to fight obesity, according to the newspaper Le Temps.  © Lightpoet | Dreamstime.comBertrand Buchs and Delphine Bachmann, two elected officials active in the medical sector, are behind the initiative. The text required to implement the tax, which takes aim at added sugar, is likely to be put to a government vote in March 2020. The money collected would be spent on raising awareness of the damaging health...