BERLIN—Two climbers were killed Friday and nine others injured by falling blocks of ice in the Alps in southern Switzerland, police said. Police in Valais canton (state) were alerted shortly after 6 a.m. to the accident in the Grand-Combin massif. Seven rescue helicopters were dispatched. Seventeen climbers, in different groups, were in the area when…
Swiss Gold Exports to the United States Rocketed in March
LONDON—Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia’s invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion. Switzerland’s exports to Britain, which like the United States is a centre for gold…
Soccer-Blatter, Platini to Face Swiss Justice in June Fraud Trial
ZURICH—Former FIFA President Sepp Blatter and ex-UEFA President Michel Platini will go on trial in June to face Swiss corruption charges over a $2 million payment that world soccer’s governing body made to Platini in 2011, the court announced on Tuesday. Both Blatter and Platini have repeatedly denied wrongdoing in the past over the incident,…
Swiss National Bank Increases Annual Profit as Stock Markets Boom
ZURICH—The Swiss National Bank (SNB) expects to make a profit of around 26 billion Swiss francs ($28.22 billion) for 2021, the central bank said in its provisional results on Friday, as booming stock markets throughout the year added billions to the value of its foreign currency investments. The SNB made a profit of just under…
A Taste of the Alps: How to Throw Your Own Fondue Party at Home
When the rural inhabitants of Swiss and French mountainous villages devised a warming winter dish incorporating their local cheese and white wine, little did they know it would become an international dinner party hit. It’s no wonder why this dish has crossed borders. During the cold and dark months, it’s universally appealing to hunker down…
Swiss Banks Expect Market Access Deal With Britain in 2022: NZZ
ZURICH—The head of the Swiss banking lobby expects his country to strike a deal with Britain next year to open up the financial sector to cross-border business, he told the NZZ newspaper in an interview published on Wednesday. Both countries, which are outside the European Union, are negotiating an accord for market access by banks…
Swiss Court Rejects Google Appeal Over Cloud Contract
October 20, 2021
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ZURICH—A Swiss court has dismissed Google’s bid to block the award of a government cloud computing contract worth up to 110 million Swiss francs ($119 million) to rival bidders. “In an interim decision, the Federal Administrative Court rejects Google’s request to grant suspensive effect to its appeal. The Federal Office for Buildings and Logistics may…
Big Picture, Big Data: Swiss Unveil VR Software of Universe
LAUSANNE, Switzerland—The final frontier has rarely seemed closer than this—at least virtually. Researchers at one of Switzerland’s top universities are releasing open-source beta software on Tuesday that allows for virtual visits through the cosmos including up to the International Space Station, past the Moon, Saturn or exoplanets, over galaxies, and well beyond. The program—called Virtual…
Swiss Propose Liquidity Rules Costing Banks Little or Nothing Extra
ZURICH—Switzerland proposed updated rules to ensure major banks hold enough liquidity to absorb shocks, but the draft changes will cost banks little or nothing in additional capital and liquidity holdings, government documents showed on Thursday. The proposed revisions, which were sent into consultation on Thursday, aim to ensure that systemically important banks (SIBs)—which include Credit…
Swiss Markets Watchdog Approves First Crypto Assets Fund
ZURICH—Switzerland’s financial markets supervisor said on Wednesday it had approved the country’s first fund that invests primarily in crypto assets. The Crypto Market Index Fund is restricted to qualified investors and categorised under “other funds for alternative investments” with particular risks, the Swiss Financial Market Supervisory Authority (FINMA) said in a statement. Crypto assets are…
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