Switzerland Today

Dear Swiss Abroad,

Today a chapter closes for Switzerland-based multinational Glencore. The Swiss judiciary has ended its criminal investigation against the commodities trading giant for corruption in the Democratic Republic of Congo (DRC) in return for a fine of CHF2 million.

Read on for more details and other news.

Kimberley Woods of Great Britain, Evy Leibfarth of US, Monica Doria Vilarrubla of Andorra, Alena Marx of Switzerland compete at the Quarterfinal heat in the Women Kayak Cross of the Canoeing Slalom competitions in the Paris 2024 Olympic Games at the Vaires-sur-Marne Nautical Stadium, in Vaires-sur-Marne, France, 05 August 2024. EPA/ALI HAIDER Keystone

Olympic debut, cross-border work, dearth of doctors

• Paris 2024 brought the Olympic debut of kayak cross and Switzerland is making a splash in this adrenaline-boosting sport. Alena Marx from Bern and Geneva native Martin Dougoud both advanced to the semi-finals.
• Almost 400,000 cross-border commuters are working in Switzerland. That marks a 3% increase relative to last year. Most of them reside in France (58%), compared to 23% in Itay and 16% in Germany.
• Switzerland is facing a shortage of paediatricians. A medical association warns this could mean inadequate care for children in rural regions.

Keystone

Glencore corruption case

Federal prosecutors in Switzerland have announced that Glencore’s international unit has been found “criminally liable.” This comes after a probe into bribery in Congo’s mining industry over ten years ago. The commodities giant has been ordered to pay fines and compensation totaling over $150 million.

The Swiss attorney general’s office stated that Glencore International AG did not take sufficient measures to prevent bribery of a Congolese public official by a business partner. This occurred during the company’s purchase of minority stakes in two companies from Congo’s state mining company in 2011.

As a result of these findings, the Baar-based multinational has been fined CHF2 million (around $2.4 million) and has been ordered to pay a compensation claim of $150 million for the estimated benefit received by the partner.

Glencore has not admitted to the findings but has chosen not to appeal. The company has emphasied that the attorney general’s office did not find any evidence that its employees were aware of the partner’s bribery or thats Glencore benefitted financially from their conduct.