(Photo by Harold Cunningham/Getty Images) Getty Images Troubles in the luxury watch market continue, as evidenced by the latest report from the Federation of the Swiss Watch Industry. Swiss watch exports in August were 1.2 million units, 125,000 fewer than last year. Despite the decline in unit volumes, the total value of wristwatch exports increased...
Tag: Swiss franc
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Switzerland moves towards cashless future with instant payments
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Inside Switzerland’s wealth: billionaires, tax advantages, and stability | The Express Tribune
When thinking of Switzerland, images of fine cheese, luxury chocolate, and snow-capped mountains often come to mind. But Switzerland is also synonymous with wealth. The country has one billionaire for every 80,000 people, making it the third most billionaire-dense nation in the world, trailing only Luxembourg and Hong Kong. With a mean net worth of...
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Switzerland’s upper house rejects 5 billion Swiss franc aid plan for Ukraine
ZURICH (Reuters) – Switzerland’s upper house of parliament on Monday rejected a 5 billion Swiss franc ($5.58 billion) aid contribution for Ukraine contained in a broader financial package on the grounds that the plan breached borrowing restrictions in the neutral country. With 28 against and 15 in favor, lawmakers voted down the 15 billion franc...
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Why the Swiss central bank made a surprise cut to its key interest
The Swiss National Bank (SNB) said on Thursday it is trimming its key interest rate, a surprise move that makes Switzerland the first major financial centre to announce a cut in recent months. ADVERTISEMENT Thomas Jordan, the outgoing SNB chairman, credited the central bank’s push to rein in inflation in the wealthy Alpine country. The...