Tag Archives: Editor’s Choice

According to provisional calculations, the Swiss National Bank (SNB) expects to make a profit of around CHF 49 billion in 2019. SNB building in BernMost of this comes from the rising value of the SNB’s foreign currency positions (+CHF 40 billion) and a valuation gain on gold holdings (+CHF 6.9 billion). After adjusting reserves, the SNB will have CHF 88 billion available for distribution. Since the announcement SNB shares have risen 2% to CHF 5,600. The central bank plans to pay...

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...

© Engdao Wichitpunya | Dreamstime.com Facebook’s plan to launch its digital currency Libra is unlikely to succeed Ueli Maurer, Switzerland’s president, told SRF. Maurer doesn’t think central banks will accept the basket of currencies underpinning the cryptocurrency. “The project, in this form, has thus failed” he said. Plans for the digital currency, which is to be issued and governed by the Geneva-based Libra Association and requires Swiss regulatory approval, have...

© Nuvisage | Dreamstime.com From 1 January 2020, it will be much easier for Switzerland’s 38,000 federal government employees to get paid for working on the train, according to the newspaper Tages-Anzeiger. Until the beginning of this year, working on the train on the way to and from work was only rewarded in exceptional instances and even then it was only partially counted. Now federal government staff only require approval from their immediate manager for the time...

In December last year, the Observatoire statistique transfrontalier published unemployment figures for the French region surrounding Geneva. © Anders Lundstedt | Dreamstime.comFrench unemployment calculations broadly follow the method used by the International Labour Organisation (ILO), which includes all available job seekers – ILO definition of unemployment and French definition of unemployment. Official Swiss figures however include only those registered as unemployed, a lower...

© Anders Lundstedt | Dreamstime.com In December last year, the Observatoire statistique transfrontalier published unemployment figures for the French region surrounding Geneva. French unemployment calculations follow the method used by the International Labour Organisation (ILO), which include all job seekers, according to Tribune de Genève. Official Swiss numbers only include those registered as unemployed, which is a lower percentage that excludes those who would...

Facebook’s plan to launch its digital currency Libra is unlikely to succeed Ueli Maurer, Switzerland’s president, told SRF. © Engdao Wichitpunya | Dreamstime.comMaurer doesn’t think central banks will accept the basket of currencies underpinning the cryptocurrency. “The project, in this form, has thus failed” he said. Plans for the digital currency, which is to be issued and governed by the Geneva-based Libra Association and requires Swiss regulatory approval, have raised concerns...

From 1 January 2020, it will be much easier for Switzerland’s 38,000 federal government employees to get paid for working on the train, according to the newspaper Tages-Anzeiger. © Nuvisage | Dreamstime.comUntil the beginning of this year, working on the train on the way to and from work was only rewarded in exceptional instances and even then it was only partially counted. Now federal government staff only require approval from their immediate manager for the time spent to be fully...

Every year brings changes for business owners and managers. © Lovelyday12 | Dreamstime.comIn May 2019, a majority of Swiss voters accepted a package of changes to the way companies are taxed known as The Federal Act on Tax Reform and AHV Financing (TRAF). Many of the changes flowing from this begin on 1 January 2020. 1. Social insurance taxes Swiss social security taxes have several elements. The first three fund old age pensions (AVS/AHV), disability insurance (AI/IV) and...

Before Christmas, Switzerland’s parliament approved the purchase of a new fleet of fighter jets costing CHF 6 billion, according to RTS. Existing Swiss Air Force F-18 – © Andrew David Periam | Dreamstime.comThe plan, which aims to defend Swiss airspace beyond 2030, has now been approved by both Switzerland’s upper and lower houses. Any contract to supply the aircraft will require a foreign supplier to invest in related industries in Switzerland. Some have described this arrangement as...