Switzerland (6do encyclopedia)



Switzerland, officially known as the Swiss Confederation, is a landlocked country located in Western Europe. It shares borders with France to the west, Germany to the north and east, Austria to the east and Italy to the south. Switzerland is renowned for its stunning mountain landscapes, sleek cities, world-class skiing and hiking destinations, banking, and chocolate. It is a multilingual and multicultural country with a rich history and political system.

Geography:

The geography of Switzerland is diverse and picturesque, dominated by mountains and ski resorts. Over 60% of Switzerland’s territory is mountainous, with the Alps covering a significant part of the country. Some of the highest peaks in the range include the Matterhorn and Jungfrau. The Swiss Plateau, situated between the Jura Mountains and the Swiss Alps, is the country’s most extensive region and consists of rolling hills, plains, and lakes. Switzerland also has numerous lakes, including Lake Geneva, Lake Lucerne, and Lake Zurich.

Climate:

Switzerland’s climate varies with altitude and location. The mountains have an alpine climate with cold winters and mild summers, while the lower regions have a milder continental climate. The Swiss weather is arguably unpredictable, with sudden changes in temperature and weather conditions.

Languages:

Switzerland is a multilingual country with four official languages: German, French, Italian, and Romansh. Approximately 60% of the population speaks German, while 22% speak French, 8% speak Italian, and less than 1% speak Romansh. English is also widely spoken in tourist areas.

Population:

As of 2021, Switzerland has an estimated population of approximately 8.6 million people. The country is known for its high standard of living, high average income, and low unemployment rate. The majority of the population (around 75%) lives in cities and urban areas.

Culture:

Switzerland is known for its vibrant and diverse culture. The country’s cultural milieu is shaped by a blend of influences from its neighboring countries. Swiss cuisine is a unique blend of German, French and Italian influences, with regional specialties including rosti, fondue and raclette. In terms of sports and recreation, skiing and snowboarding are a significant part of Swiss culture, with many of the world’s most famous ski resorts being situated in Switzerland. Switzerland is also famous for its watchmaking, chocolate, and banking industries.

Politics:

Switzerland is a federal republic consisting of 26 cantons (states), each with its own constitution and legislature. The government is divided into three branches: the executive branch, the legislative branch, and the judicial branch. The Federal Council, consisting of seven members elected by the Federal Assembly, is the country’s executive branch. The Federal Assembly, comprising the National Council and the Council of States, is the legislative branch of the government. The Supreme Court of Switzerland is the highest judicial authority in the country.

Economy:

Switzerland is one of the wealthiest countries in the world, with a high standard of living and a highly skilled workforce. Major sectors of the Swiss economy include banking and finance, manufacturing, pharmaceuticals, tourism, and agriculture. The country is also home to many multinational corporations, including Nestle, Swisscom, Swiss Re, and Credit Suisse. Switzerland is known for its strong and stable economy, strict banking secrecy laws, and financial stability.

Tourism:

Switzerland is famous for its beautiful mountain scenery, rich history, and cultural attractions. Tourists flock to Switzerland all year round, with many visiting the country’s numerous ski resorts during the winter and taking advantage of the many hiking and biking trails during the summer months. Major tourist destinations in Switzerland include the Alps, cities like Zurich, Geneva, and Bern, and attractions such as the Matterhorn and Lake Geneva.

Conclusion:

Switzerland is a fascinating country with a unique blend of cultures, stunning landscapes, and a stable economy. The country’s political system, high standard of living, and multilingual populace make it an interesting and attractive destination for tourists from all around the world. With its rich history, picturesque landscapes, and vibrant culture, Switzerland is a must-visit destination for any traveler looking to experience the best of Europe.


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Industry awaits update to FTC’s ‘green guides’

Financial Times

23-05-15 04:29


Regulators and companies are clashing over the feasibility of greenwashing legislation. Following a public consultation into the US Federal Trade Commission's "green guides", feedback indicated discord between advocacy and industry groups. Advocates have suggested that financial products require stricter enforcement, while companies are concerned that greater regulation could expose them to large fines. Swiss food company Nestlé said it supported the green guides but did not want them added to the agency's enforcement rules. Similarly, Jon Direnfeld of law firm Orrick said companies could expect "potential substantial civil penalties".

https://www.ft.com/content/2e1db10b-c992-48ff-977a-eee86336def6
‘Biotech is the ultimate impact investment’ — family offices can’t get enough of it

Financial Times

23-05-15 04:22


An increasing number of wealthy families, particularly those in North America and Europe, are investing in healthcare and biotech, rather than traditional sectors, according to a new report based on figures from Highworth Research, a data provider. Around one fifth of family office investors have put money into healthcare or biotech in the past two to three years, the research found, with faster-growing investment channels such as venture capital and early-stage biotech benefiting downstream. The areas of focus are varied, with some investors choosing the more established markets, such as artificial intelligence and cancer treatment advances, while others are plumping for new and relatively untested fields, such as longevity medicine and mental health. The rewards for canny investors can be substantial, with family offices offering “patient capital” to such companies, but risks abound. Despite technological process and demographic drivers, the sector can offer no guarantees and many biotech companies have floundered when moving from small-scale laboratory testing to large population trials.

https://www.ft.com/content/20d69b46-11fd-4904-8d6c-86927a3f4cd5
‘Genuinely worried’: US dollar woes fuel gold rush in Hong Kong, Singapore

South China Morning Post

23-05-15 01:30


Gold is becoming increasingly popular among investors in Singapore and Hong Kong as they search for safe havens to store money since the recent banking turmoil in the United States. Trade volumes have surged in the Asian trading hubs, with gold now being viewed more as a currency than a commodity. Hong Kong-based Precious Metals Asia reported that gold turnover in April increased by 40% since March and 110% since January. One of its founders, Padraig Seif, said investors were worried that keeping their money in low-yield deposit accounts would erode the long-term value of their savings. Gold has risen by 13% since March amid signals of a US economic slowdown, and fears of a potential credit crunch as a US debt default looms as the White House and Congress have been unable to reach agreement over raising the government's $31.4tn borrowing limit.

https://www.scmp.com/week-asia/economics/article/3220305/genuinely-worried-asian-investors-flock-safe-haven-gold-amid-us-dollar-woes
UK targets services boost as Swiss trade talks begin

Reuters

23-05-14 23:12


The UK and Switzerland are set to start talks on an upgraded free trade agreement which includes services and digitisation, in frameworks not covered by existing trade agreements, on Monday. Kemi Badenoch, the UK trade secretary, is reportedly travelling to Bern aiming to increase exports in financial and professional services. The current agreement does not cover services or digital trade. There is hoped to be an expansion on the relationship that the two countries had while the UK was still a member of the EU. Trade between the countries is worth £53bn ($67bn) p.a, making Switzerland the UK's tenth largest trade partner.

https://www.reuters.com/world/europe/uk-targets-services-boost-swiss-trade-talks-begin-2023-05-14/
Badenoch to hold talks on modernising UK-Swiss trade deal

The Independent

23-05-14 23:01


UK Trade Secretary Kemi Badenoch will meet with her counterpart Guy Parmelin in Switzerland to discuss modernising the countries' trade agreement amid the fallout from Brexit. The UK government aims to update its current agreement, which was signed in 1972, by making it easier to export purely-electronic services, an area that was not covered by the initial agreement given it was signed before the advent of the internet. The deal's modernisation could benefit British businesses with annual export tariffs reduced by £7.4 million.

https://www.independent.co.uk/news/uk/uk-government-bern-kemi-badenoch-swiss-b2338778.html
Train passenger sparks debate by putting his feet up on empty seat

The Independent

23-05-15 22:17


A Swedish train passenger has sparked controversy after filming himself putting his feet up on an empty train seat. The five-second video clip was posted to TikTok and shows the man tapping his sneakers against the red seat. Despite being met with criticism and mockery from social media users, some defended his decision and claimed it was acceptable to put feet on empty seats under certain circumstances, such as when the train is empty. Train passengers in Europe can be subject to a £50 ($62) fine or formal police warning if they put their feet on seats. Last month, a TikTok user was praised for telling a woman that she had taken his paid-for seat. Etiquette expert Diane Gottsman said that it was reasonable for parents or guardians to ask fellow passengers to switch seats in order to sit next to their young child, but that it was best to arrange this before boarding.

https://www.independent.co.uk/life-style/passenger-train-seat-debate-tiktok-b2339414.html
Too much demand, not enough supply. Global airfares set to stay sky high into 2024

South China Morning Post

23-05-16 06:00


Air travel is becoming more expensive post-pandemic, with most regions affected. The Asia-Pacific area has seen the highest prices increases - up to 33% more than in 2019. Europe has seen a 12% increase, while North America is at 17%. The closure of airspaces, labor shortages, and rising fuel costs are all affecting the supply of seats and contributing to the price increases.

However, the demand for international travel is strong, so travelers on the higher end of the income spectrum are paying for the higher prices. Domestic tourism revenues have also jumped in China, surpassing pre-pandemic levels to 101% during a recent holiday period. China’s theme parks are also said to be bouncing back to pre-pandemic levels as pent-up travel demand sparks a tourism boom.

International airlines saw a plunge of just 12.4% in passenger numbers in Q1 of 2023 compared to Q1 of 2019, due to lingering concerns over Covid-19 and tensions with the US and Europe. Chinese island Hainan saw a return of interest in its high-end consumption market, with foreign brands flocking to catch the post-Covid economic recovery.


https://www.scmp.com/economy/global-economy/article/3220685/global-impact-demand-outstripping-supply-eager-travellers-have-their-wings-clipped-amid-post-covid

From the Archives, 1978: Charlie Chaplin’s body recovered

The Age

23-05-16 03:30


In 1978, the coffin and remains of actor and director Charlie Chaplin, who died on Christmas Day in 1977, were stolen from the Swiss village of Corsier, near Lake Geneva, before being discovered in farmland outside the village of Noville two months later. Polish refugee Roman Wardas was jailed for four and a half years for masterminding the theft and trying to extort money from Chaplin's family, while Bulgarian Gantscho Ganev received an 18-month suspended sentence. Ransom demands of $600,000 had been made for the return of the coffin but Chaplin's widow Oona refused to pay.

https://www.theage.com.au/world/europe/from-the-archives-1978-charlie-chaplin-s-body-recovered-20230511-p5d7pd.html
Man sparks debate over empty train seat: ‘Did you parents teach that?’

The Independent

23-05-16 07:09


A TikTok user has sparked a debate on train etiquette after filming himself putting his feet up on an empty seat, attracting several million views. While commentators criticised the passenger, others defended him, with some saying that it was acceptable depending on the circumstances. Conduct surveys have shown that many regard the practice of putting feet on seats as irritating. Travellers in Europe can incur a €62 (£50) fine or a formal warning from police for doing so. The TikTok user has not yet commented on his actions.

https://www.independent.co.uk/life-style/train-passenger-seat-debate-tiktok-b2339520.html
Free Cathay tickets from Seoul to Hong Kong go in under half an hour

South China Morning Post

23-05-16 06:32


Cathay Pacific Airways offered free return tickets from Seoul to Hong Kong as part of a 700,000-ticket campaign led by local airlines in the “Hello Hong Kong” initiative. More than 130,000 people registered for the 10,602 tickets from noon on Tuesday until May 22. Qualifying participants must be at least 19 years old and a registered member of Cathay Pacific. Other destinations for the free ticket campaign include Taiwan and Japan. The winners will be announced on June 1. They will receive a redemption code to be activated within one month, and the tickets are valid for nine months after redemption.

https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3220705/hong-kong-cathay-pacifics-free-tickets-seoul-city-snapped-quickly-130000-people-queue-10602
CCL Products (India) beats Q4 profit view on higher instant coffee sales

Reuters

23-05-16 11:55


CCL Products reported a 62% surge in profits for the past quarter, thanks to increased sales of its instant coffee. Boosted by the capacity addition at CCL's Vietnam plant, as well as firmer coffee prices, the volume of spray-dried coffee increased in the March quarter. Rival Tata Coffee reported a 20% rise in profit in the last quarter, reflecting the growing demand for coffee. The company, which operates in India, Switzerland and Vietnam, supplies coffee to clients including Reliance, startup Blue Tokai and Israel-based Strauss Group.

https://www.reuters.com/business/ccl-products-india-beats-q4-profit-view-higher-instant-coffee-sales-2023-05-16/
US can pick Folarin Balogun as FIFA approves eligibility change from England

The Toronto Star

23-05-16 11:11


FIFA has approved a request from the US Soccer Federation to allow England Under-21 forward Folarin Balogun to represent the US at World Cup 2026. Born in New York to Nigerian parents, Balogun, 21, was also eligible to play for Nigeria. Before starring in France's Ligue 1 on loan to Reims from Arsenal with 19 goals, he played for both England and the US at youth level. His switch to the US comes ahead of the U21 European Championship and a few weeks before the country hosts the CONCACAF Gold Cup.

https://www.thestar.com/sports/soccer/2023/05/16/us-can-pick-folarin-balogun-as-fifa-approves-eligibility-change-from-england.html
Switzerland shuts out Kazakhstan 5-0, Denmark beats Austria 6-2 at ice hockey worlds

The Toronto Star

23-05-16 20:04


Switzerland secured their third consecutive victory at the Ice Hockey World Championship, beating Kazakhstan 5-0. Fabrice Herzog and Damien Riat each scored a goal and an assist in the game. Kazakhstan came closest to scoring in the second period, with Artur Gatiyatov hitting the post. Switzerland is yet to concede a goal and leads Group B with nine points. In other matches, Thomas Berg-Paulsen scored a solitary goal to help Norway secure their first victory by beating Slovenia 1-0. Denmark beat Austria 6-2 and Hungary secured a 3-2 victory over France.

https://www.thestar.com/sports/hockey/2023/05/16/switzerland-shuts-out-kazakhstan-5-0-denmark-beats-austria-6-2-at-ice-hockey-worlds.html
I was scared of dying, says woman in Tariq Ramadan rape trial

Telegraph

23-05-16 19:43


A Muslim woman has accused Oxford University professor and Islamic studies scholar Tariq Ramadan of rape and abuse. The unnamed Swiss woman claims that Ramadan “penetrated [her] with blows to the head and insults” whilst she was in fear of her life, before almost suffocating her during oral sex. Ramadan has been on leave since he was charged with rape in France, and has repeatedly denied all the allegations.

https://www.telegraph.co.uk/world-news/2023/05/16/tariq-ramadan-rape-trial-oxford-scared-dying/
Britain’s immigration is out of control, and could spell the end of the Tories

Telegraph

23-05-16 19:16


An op-ed has criticized the Eurovision Song Contest for its lack of racial diversity. Suzanne Moore, writing for the Spectator, called out the lack of representation among acts at the contest, with just a few of the 26 performers featuring a visible ethnic minority. Despite this, Moore questioned why left-wing activists did not voice criticism of Eurovision, compared to how they respond to events in the UK. She speculated that such activists remain silent due to not wanting to acknowledge that the UK is not as racist as it is often accused of being. Moore went on to accuse the Conservative government of “selling out to hyper-liberal globalists”, and for failing to take steps toward cutting immigration rates. Moore also criticized universities that she claims “discriminate against our own young people”.

https://www.telegraph.co.uk/columnists/2023/05/16/britains-immigration-out-of-control-end-of-tories/
Everywhere in the world loves train travel. Why doesn’t Australia?

The Sydney Morning Herald

23-05-16 19:00


Train travel can be the best kind of travel. It's social, cost-effective, comfortable, environmentally-friendly and provides scenic views. It's surprising, therefore, that following the trend in high-speed trains that Europe, America, China and Japan have made, Australia has not invested more in rail, particularly for high-speed long-haul travel and long-haul commuting. While there are relatively low levels of demand, even routes between Sydney and Melbourne have high numbers of passengers, enough to support high-speed rail. Yet Australia seems unable to embrace the joys of train travel in the same way as the rest of the world.

https://www.smh.com.au/traveller/travel-news/everywhere-in-the-world-loves-train-travel-why-doesn-t-australia-20230511-p5d7m8.html
UBS Maintains Investment Flows in Taiwan as Tensions Mount

Bloomberg

23-05-16 23:00


UBS's Taiwan wealth unit is expecting double-digit growth this year, despite fears over tensions between China and Taiwan. While some clients are shifting assets to financial centres such as Hong Kong or Switzerland, others are reconfiguring their portfolios and bringing funds back to Taiwan, said Head of Wealth Management Henry Su. The unit is also aiming for double-digit revenue growth and plans to offer historically local clients alternative investments and concentrate more on onshore banking for the island economy. Last year, Taiwanese businesses decreased their new investments in China and banks cut their exposure to China to the lowest level in at least a decade.

https://www.bloomberg.com/news/articles/2023-05-16/ubs-maintains-investment-flows-in-taiwan-as-tensions-mount?srnd=next-china
How much money do you need to be in Australia’s wealthiest 1 per cent

The Sydney Morning Herald

23-05-17 03:31


The amount of money required to be among the top 1% in Australia has doubled to AUD 8.25m ($5.5m) since 2021, primarily due to rising property prices, according Knight Frank. The increase means Australia now ranks third behind Monaco ($12.4m), and Switzerland ($6.6m). Australia had previously ranked lower, at seventh with a wealth threshold of $2.8m. The consultancy added that the boom in property prices made up the bulk of the increase. It also forecast that the number of high-net-worth Australians - people with a net wealth of more than AUD 1m - would increase by 71% between 2022 and 2027, and the number of ultra high-net-worth individuals would jump by 40.9% over the same period.

https://www.smh.com.au/money/investing/how-much-money-do-you-need-to-be-in-australia-s-wealthiest-1-per-cent-20230517-p5d90t.html
Daughters’ plea after British grandmother vanishes on Greek island

The Independent

23-05-17 14:07


The family of a British grandmother, Susan Hart, who disappeared in Greece in April have appealed for help. Susan Hart, 75, vanished on the island of Kalymnos while on holiday with her husband and a group of friends. Although search efforts continue, her three daughters say hope of finding her alive is diminishing and claim that while local police have failed to organise search dogs and private divers, her husband has paid for them. The family has contacted the consulates of the UK, Switzerland and Australia, where one of her daughters lives.

https://www.independent.co.uk/news/uk/home-news/missing-grandma-greece-holiday-kalymnos-b2340514.html