Swiss say goodbye to banking secrecy

A Swiss flag flies behind the logo of the Dresdner Private Banking at place du Rhone, in Geneva, Switzerland, Friday, August 21, 2009. (KEYSTONE/Salvatore Di Nolfi) The international convention on the automatic sharing of banking information entered into force on January 1. This heralds the beginning of the end of the country’s reputation as a tax haven. The application of the ‘Multilateral Convention on Mutual Administrative Assistance in Tax Matters’ means that Switzerland has come into line with [...]

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The place where migrants get free language lessons

The Freiestrasse street in Basel, Switzerland, pictured on April 19, 2016. (KEYSTONE/Christian Beutler)
Foreigners moving to canton Basel City receive a voucher for free German lessons, paid for by the canton – in a scheme that is unique in Switzerland. The aim is to [...]

Strong franc, negative interest rates expected to stay

At the entrance to the Swiss National Bank SNB in Berne, Switzerland, pictured on July 16, 2012. (KEYSTONE/Gaetan Bally)

Am Eingang zur Schweizerischen Nationalbank in Bern, aufgenommen am 16. Juli 2012. (KEYSTONE/Gaetan Bally)
The Swiss economy will continue to be plagued by an over-valued franc and negative interest rates for the whole of next year, according predictions released by Credit Suisse [...]

Switzerland named ‘fourth worst company tax haven’

Logos von Starbucks Coffee, aufgenommen am Mittwoch, 22. Januar 2014, an der Bahnhofstrasse in Zuerich. (KEYSTONE/Steffen Schmidt)
Switzerland is one of the world’s worst corporate tax havens, according to Oxfam International research which claims that global state-sponsored tax dodges are “starving [...]

For some Swiss, more is too much

New car-free and child-friendly housing complex with white tenements, photographed in Rheinfelden, Canton Aargau, Switzerland, on September 25, 2015. (KEYSTONE/Christian Beutler)

Neue autofreie und kinderfreundliche Siedlung mit weissen Wohnbloecken, aufgenommen am 25. September 2015 in Rheinfelden, Kanton Aargau. (KEYSTONE/Christian Beutler)
The reason? Apparently, they are concerned that their living spaces might be taking up too much of and causing harm to the surrounding landscapes. The Federal Housing [...]

ARCHIV - ZUR BEHERBERGUNGSSTATISTIK DES BFS ZUR TOURISTISCHEN SOMMERSAISON 2016 STELLEN WIR IHNEN FOLGENDES BILDMATERIAL ZUR VERFUEGUNG - Chinese tourists have fun on Mount Titlis above Engelberg in the Canton of Obwalden, Switzerland, on October 28, 2014. (KEYSTONE/Urs Flueeler)....Chinesische Touristen vergnuegen sich auf dem Titlis oberhalb von Engelberg, Obwalden, am Dienstag, 28. Oktober 2014 im Schnee. (KEYSTONE/Urs Flueeler)
Chinese tourists have long been heralded as the potential saviours of Swiss tourism, but the latest figures on hotel stays show they’re making far fewer bookings as had [...]

Swiss bankers plead not guilty in New York

Der Hauptsitz der Zuercher Kantonalbank an der Bahnhofstrasse in Zuerich am Dienstag, 25. August 2015. Die Renovation und Modernisierung des Hauptsitzes hat die ZKB rund 200 Millionen Franken gekostst. Die Arbeiten nahmen vier Jahre in Anspruch. (KEYSTONE/Walter Bieri)
Two bankers from Zurich’s cantonal bank have pleaded not guilty in a New York court after leaving Switzerland to voluntarily face charges of helping American clients evade [...]

A climate rulebook for uncertain times

What lies ahead following the UN climate talks in Marrakech? Delegates headed home with the knowledge that despite the Paris climate accord, the uncertain international [...]

‘Poorer’ Swiss still top wealth-per-capita ranking

A woman wears a golden necklace, leather gloves and a leather handbag, pictured in March 2009 in Zurich, Switzerland. (KEYSTONE/Gaetan Bally)

Eine Frau traegt eine goldene Halskette, Lederhandschuhe und  eine Lederhandtasche, aufgenommen im Maerz 2009 in Zuerich. (KEYSTONE/Gaetan Bally)
Each Swiss adult has an average fortune of $561,900 (CHF568,000), according to the 2016 Credit Suisse Global Wealth Report, published on Tuesday. Switzerland has held first [...]

Coffee in Zurich is the most expensive in the world

Single mother Fjola and her 2-year-old son Loris make coffee, pictured in Glatttal, canton of Zurich, Switzerland, on November 16, 2006. (KEYSTONE/Gaetan Bally)

Die alleinerziehende Mutter Fjola und ihr zweijaehriger Sohn Loris machen Kaffee, aufgenommen im Glatttal, Kanton Zuerich, am 16. November 2006. (KEYSTONE/Gaetan Bally) === , , EDITORIAL USE ONLY ===
Coffee lovers in Zurich will be frothing as much as their cappuccinos to discover that they pay more for their caffeine boost than people in any other city in the [...]

Further gloom in store for Swiss watchmakers

Un horloger lors de la pose bracelet, sur une montre Hublot Subaquaneus, dans les ateliers des Montres Hublot, ce mardi 14 septembre 2004 a Nyon. En mai 2004, Jean-Claude Biver reprend la direction de Montres Hublot; cree en 1980 par M. Carlo Crocco, et qui eu l'audace de realiser les premieres montres en or avec des bracelts en caoutchouc, de l'histoire horlogere. (KEYSTONE/Sandro Campardo)
Sentiment is depressed but hope lingers on, says Ralph Atkins of the Financial Times. With its large display windows and bright lighting, the Beyer watch shop on Zurich’s [...]