Switzerland Today
Dear Swiss Abroad,
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In the news: Weapons sales, dirty dining, electric charging and UBS savings
- Swiss arms dealers were conspicuous by their absence at the World Defense Show in Riyadh. Tough regulations have meant that selling arms to Saudi Arabia is too complicated for Swiss firms despite business opportunities presented by the Houthi-Saudi Arabian conflict.
- Geneva is a melting pot of nations and a popular choice for those looking for something more exciting than steak and potatoes. On the flip side, your meal may come with a side serving of bacteriaExternal link, given the poor hygiene inspection results of its restaurants.
- One in four cars purchased in 2022 was electric, but growth in sales slowed last year. Some blamed the poor electric charging network in Switzerland. The Swiss government has now invited private players to invest in charging hubs External linkalong national highways.
- UBS’s decision to renounce the Swiss government’s safety net it had negotiated as part of its government-engineered purchase of Credit Suisse has paid dividends. Not only has the bank saved $1 billion (CHF875 million), it also avoided criticism of benefiting from government-backing of the deal.
Pensions vote: Retirement planning in other countries
Switzerland will once again vote on the future of its pension provision. On March 3, the introduction of a 13th old-age pension payment and the pension initiative will be decided by the people. But how do other countries look after their pensioners? But how do other countries look after their pensioners? Swiss public broadcaster SRF does a handy comparison.External link
Risk and reward: Why Silicon Valley is the dream for ambitious Swiss entrepreneurs
In our special feature on links between Switzerland and Silicon Valley, we talk to some Swiss Abroad in the start-up space. To found a start-up, you have to work seven days a week and be willing to fail and lose your savings, something few in Switzerland are ready to do.
“People in Switzerland prefer to be employed in a company and enjoy the comforts, holidays and a guaranteed income,” says one of them.
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