Author: switzerlandtimes.ch
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,…
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…