Author: switzerlandtimes.ch
Data published this week reveal Switzerland’s cantonal crime hotspot, a phenomenon connected to geography. In 2023, after a sharp rise, the canton of Basel-City recorded the largest number of violent crimes and the highest per capita rates of theft and burglary. The rate of violent crime reached 13.2 per 1,000 residents in the city in 2023. The number of property crimes, which includes theft and burglary rose to 21,329 in 2023, a figure 18% higher than in 2022. The canton of Basel-City borders France and Germany. This means there are numerous points where someone can flee cross the border into…
Alliance Swisspass, an organisation that stitches together Switzerland’s various public transport providers to create tickets and passes that work across the network, announced this week that there would be no ticket price increases in 2025, reported SRF. A recent rise in the number of people using the network is bringing in more revenue. This is helping to reduce the need to raise prices, said the organisation. In addition, Alliance Swisspass said that the sector wants to temper prices to entice more people to use its services. The last time prices rose was a shock to some. Towards the end 2023,…
When we pay electricity bills we also have to pay for the infrastructure that brings it to our homes. Part of this infrastructure is run by Swissgrid. On 20 March 2024, Swissgrid announced a cut in what it charges from 2025. In 2025, a household with an annual consumption of 4,500 kWh will pay an average of CHF 77 (-16%) for the services provided by Swissgrid instead of the CHF 92 it will pay in 2024. These charges corresponds to 5% of the total bill. So a 16% drop on a 5% component will shave nearly 1% off the total…
On 21 March 2024, the Swiss National Bank (SNB) lowered its key interest rate from 1.75% to 1.5%. The move makes the SNB the first significant central bank to lower rates as inflation slows. The cut surprised many analysts and economists. The consensus expectation was for no change in the rate. Many other central banks have left rates unchanged. On 20 March 2024, the US Fed decided to maintain the target range for the federal funds rate at 5.25% to 5.5%. And on 21 March 2024, the Bank of England decided to maintain its rate at 5.25%. According to a press…
Brought to you by quitt.business. For startups and small companies, hiring and onboarding new employees can be a real hassle. In Switzerland especially, there is a significant amount of admin to deal with. The following is a guide to all the tasks involved in this process. A summarised list of the administrative tasks associated with hiring a new employee are set out below: Create an employment contract Register for social security taxes with the compensation office Set up a compulsory employee pension known as a 2nd pillar pension Take out accident and supplementary insurance Meet obligations under Swiss immigration laws…
Financial results published this week present a mixed picture for Swiss Rail. For the first time in three years the company made a profit. After transporting an average of 1.32 million people a day in 2023, the company made a profit of CHF 267 million. The year prior it made a loss of CHF -245 million. Every day, the company, which employs around 35,000 staff, moved an average of 1.32 million people and 175,000 tonnes of freight. However, despite these improved numbers and a profitable year the train operator’s debt load barely budged. It started 2023 at CHF 11.6 billion…
On 9 March 2024, six people left Zermatt on skis bound for Arolla on a high mountain path that links Zerrmatt and Verbier known as the Haute Route. Upon reaching the region near the Tête Blanche pass at around 3,500m bad weather rapidly set in. At around 4pm, one member of the group alerted search and rescue and another managed to call at 5:19pm and provide the group’s location, reported RTS. At 6:20pm a ground rescue party left Zermatt. However, they could not get above 3,000m because of severe weather conditions consisting of winds of more than 100 km/h and…
The financial industry, be it traditional or digital, more often than not conjures up images of interest and revenue generation. Philanthropy, at best, comes a far second or, at worst, not at all. Fortunately, finance is built on money, it is not the end-all and be-all in the space. At least, not for the likes of Michael Gastauer. Black Banx, the Toronto-based global digital banking company founded by the German billionaire, was founded and continues to operate with the intent of easing cross-border transactions for any and all customers. Not satisfied with continuing to revolutionize the fintech sector, Gastauer has…
The financial technology landscape is transforming, fuelled by a surge in innovative solutions to enhance wealth management services. This niche, known as Wealthtech, is rapidly reshaping how individuals and institutions manage, invest, and increase their wealth. The United States, being a hotbed for technological advancements and a global financial hub, presents a dynamic environment for Wealthtech’s growth. With the sector forecasted to grow from $54.62 million in 2021 to a staggering $137.44 million by 2028, the opportunities for international tech companies are immense. This article will delve into the evolving US Wealthtech market, the burgeoning opportunities it presents for international…
In 2023, Switzerland’s public transport system generated 7.2% more revenue than it did the previous year, reported Alliance Swiss, the umbrella organisation that connects ticketing across the whole network. Higher ticket sales were a big contributor to the rise in revenue which reached CHF 6.4 billion across the sector. During the year, 248 million tickets and travel passes were sold, 71% of which were tickets for single trips. New products launched last year were more popular than expected. The night pass was a particular hit with around 80,000 people purchasing one. The pass, which is available to anyone under 25,…