Author: switzerlandtimes.ch
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,…
Switzerland, a land of majestic mountains, serene lakes, and vibrant cities, offers a plethora of activities for every kind of traveler. Whether you’re an adventure seeker, a culture enthusiast, or someone looking to relax amidst nature, Switzerland has something special for you. Here’s a curated list of the top things to do in this enchanting country, ensuring your visit is unforgettable. Traveling Across Switzerland While Switzerland boasts an efficient public transport system, exploring remote areas or traveling at your own pace might require a different approach. For such occasions, consider booking Switzerland taxis. Offering reliable and convenient transportation options, Taxiyo…
On 3 March 2024, Swiss voters voted on two federal initiatives on state pensions. The first asked voters whether to increase pensions by a 1/12th (8.3%), while the second asked if the official retirement age should rise slowly in line with life expectancy. With the votes in, the proposal to increase pensions by 8.3% (1/12th), known as the 13th (month of) pension, has been accepted. 58.4% of voters were in favour of more money for retirees. Majorities favoured the plan in 15 out of 23 cantons (of the 26 typically referred to, 6 are half cantons). The cantons with the highest percentages…
This week, Switzerland’s federal government reached a dead end on reducing the voting age to 16. It is unlikely the idea will be discussed again for a while, reported SRF. After years if discussion, federal parliament rejected the idea. The left favoured it – younger people are more likely to lean left, while those on the right were generally against it – younger peopel are more likely to lean left. In the end 106 voted against it and 84 supported it. Previously in June 2023, parliament supported drawing up a template for how a younger voting age might be introduced.…
This February in Switzerland was the warmest since records began in 1864, with an average temperature of 2.7 degrees, 4.6 degrees above the average recorded for the month over the last 30 years. High temperatures have been driven by strong air currents from the west, said Meteo Swiss. The next warmest Februarys were recorded quite recently in 2020 (1.6 degrees) and 1990 (2.1). This year, a high pressure zone over southern Europe has prevented colder polar air moving down as it normally would. One theory to explain this is unusually high sea and ocean temperatures coming out of the summer…
After two increases in a row the reference interest rate used for adjusting rents remains unchanged this quarter. After two rises from 1.25% to 1.75% last year, many tenants in Switzerland will be breathing a sigh of relief. Many economists forecast no increases in the rate this year. Every quarter the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it goes up landlords can generally raise rents. The interest rate used to set the reference rate is the average rate…
This week, the Socialist and Green Parties submitted sufficient signatures to trigger a popular initiative, reported RTS. According to the organisers, nearly 130,000 signatures were submitted to the Federal Chancellery on Thursday. The initiative aims to create a climate fund. It would compel all levels of government to invest in actions to meet international climate agreements. If the plan is accepted by a majority of voters, starting no more than three years after its acceptance the federal government would need to put 0.5% to 1.0% of annual GDP into the fund, a figure that could reach between CHF 3.5 and 7…
In 2023, 98,851 more people moved to Switzerland than left, according to data from Switzerland’s State Secretariat for Migration (SEM). The net number of arrivals in Switzerland in 2023, exceeded the number in 2022 by 21.5%. A total of 181,553 people immigrated to Switzerland, of which 71.9% came from an EU or EFTA member state. Immigration from the EU and EFTA nations rose by 14.1% to 130,483 people, compared to a rise of 6.3% in the number arriving from nations beyond the EU and EFTA. The vast majority (70.7%) of these new arrivals from the EU/EFTA came for work. At the same…