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Swiss step up anti-terrorism measures

This content was published on Jan 22, 2015 Six posts, limited to three years, will be created to enhance information gathering and analysis as part of a preventive anti-terrorism campaign, according to the justice ministry. The cabinet on Wednesday also decided to provide an extra CHF2 million ($2.3 million) in funding for the 26 cantons. The defence ministry declined to give further details.…

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Endangered grass snake is Animal of the Year

This content was published on Jan 22, 2015

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Shoppers bombarded by discounts after franc shock

This content was published on Jan 20, 2015 Retailers are rushing to offer bargains to Swiss shoppers after a shock surge in the franc, taking advantage of lower import costs but also fearful of losing custom to cheaper rivals over the border in France and Germany. Until last Thursday, the Swiss National Bank (SNB) had capped the value of the franc at 1.20 per euro. The surprise decision to remove that limit has left the currencies virtually at parity, with one euro buying 1.01 francs on Tuesday. The rise in the franc is expected to have a painful impact on Swiss exports and tourism, but it is a boon for Swiss residents buying imported goods or tempted to shop over the border in eurozone countries – Germany, France, Austria and Italy – and Swiss retailers are scrambling for their customers. Chic clothing store Grieder in Zurich, near the headquarters of banks Credit Suisse and UBS, has knocked a fifth off its prices. Watchmaker Roger Dubuis is lowering prices by up to 6% while rival Audemars Piguet may follow. A new Mercedes has now been discounted by 18% in Switzerland. Rival Audi is also considering an “adjustment” for its Swiss customers. Swiss media say furniture stores, travel agents, supermarkets and petrol stations have all cut prices too. Burgernomics But rather than expecting a sales boom, many retailers may simply be worried about Switzerland haemorrhaging retail demand to the eurozone, where prices have long been cheaper – and just got cheaper still. Even at 1.20, the franc was highly valued compared with before the 2008 economic crisis, when one euro would buy around 1.55 francs. A survey by Deloitte found about 80% of chief financial officers regarded a rate around parity as a disadvantage for their firm, while 1.20 was neutral and 1.30 would help them. At IKEA in Switzerland, a Frostig refrigerator costs CHF1,299. The same model costs €599 across the border in Germany or France. McDonald’s Big Mac costs CHF6.50 in Switzerland, roughly 50% more than in France. For residents of Geneva or Basel, it is little more than a drive across town to take advantage of such discounts. “Companies are barely out of crisis mode, yet now they will need to focus on coming to terms with the appreciation of the franc,” said Michael Grampp, chief economist at Deloitte in Switzerland.

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Swiss go cross-border shopping with strong franc

This content was published on Jan 20, 2015 The Swiss National Bank stunned markets on January 15 by scrapping policy preventing the Swiss franc from appreciating beyond CHF1.20 to the euro. At one point that day, the euro value had fallen to just 0.85 francs. The Swiss were quick to realise that they could suddenly get a lot more for their money in…

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Unions attack SNB over cap removal

This content was published on Jan 20, 2015 “If the Swiss franc remains strong, prices will fall. Unemployment will rise. The SNB has clearly not fulfilled its mandate,” warned Daniel Lampart, chief economist of the Trade Union Federation, in the Tages-Anzeiger and Bund newspaper on Tuesday. Under Swiss national banking legislation, the SNB’s mandate is to guarantee price stability and take into account…

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Culture

Graubünden commune wins Wakker architecture prize

This content was published on Jan 20, 2015 The mountain commune of Bregaglia in southern Switzerland has won the 2015 Wakker architecture prize. The idyllic valley that connects canton Graubünden with Italy was praised for its mix of modern and traditional architecture.

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Are Swiss ski slopes too fast?

This content was published on Jan 19, 2015 It’s estimated that in 22% of all snow sports accidents, skiers end up with broken bones. In the last week of December 2014 alone, the Swiss Air Rescue Service helicopters were called out 135 times because of ski or snowboard mishaps in the Swiss Alps. One of the reasons for the high number of accidents is…

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Asylum applications reviewed for terror ties

This content was published on Jan 19, 2015 The Federal Intelligence Service (FIS) is reviewing asylum applications as a measure to prevent potential terrorists from entering Switzerland.

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Demographics

Debate over gun ownership rages on

This content was published on Jan 18, 2015 The idea now has to pass through both houses of parliament, where it is likely to be vigorously opposed by the gun lobby. At the moment, only guns acquired after 2008 have to be included in cantonal registries. It’s thought many of the undeclared guns sitting in Swiss homes pre-date 2008. Recent shooting incidents have…

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When Churchill mixed Swiss business and pleasure

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Swiss step up anti-terrorism measures

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Endangered grass snake is Animal of the Year

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Shoppers bombarded by discounts after franc shock

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Swiss go cross-border shopping with strong franc

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Unions attack SNB over cap removal

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Graubünden commune wins Wakker architecture prize

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Are Swiss ski slopes too fast?

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Asylum applications reviewed for terror ties

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Debate over gun ownership rages on

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