Today in Switzerland: A roundup of the latest news on Friday
Geneva to offer financial perks to its residents; Swiss franc weakens against the euro; and more news in our roundup on Friday.
Geneva to lower taxes and offer free public transport to young people
In 2023, the canton recorded a budget surplus of nearly 1.4 million francs.
This enviable profit was made possible by “good control of charges, as well as higher-than-expected tax revenues,” cantonal authorities said in a press release on Thursday.
This surplus will allow the canton to cut taxes for the middle class and to offer free transport on the UNIRESO network to young people up to the age of 24.
Twint dominates Switzerland’s ‘most reputed brands' ranking
The cashless payment app took the top spot in the new Swiss Reputation Ranking, published by GfK market research institute on Thursday.
The ranking is based on consumer feedback about various Swiss brands.
In the second and third places are Zweifel chips company and Migros supermarket chain.
Ricola, national railway company SBB, Rivella, Die Mobiliar insurance, Coop, Lindt & Sprüngli chocolate manufacturers, and Geberit sanitary products are also among the top-10 most reputed brands.
GfK institute also asked survey participants to rank Switzerland’s best-known non-profit organisations.
Top among them are REGA air rescue service, Swiss Paraplegic Foundation, and Swiss Red Cross.
READ ALSO : What is Twint and how does it work?
Franc weakens after interest rate drop
After the Swiss National Bank cut the interest rate from 1.75 to 1.50 percent on Thursday, the franc, one of the world’s strongest currencies, has weakened by 1 percent.
As a result, the US dollar slightly gained in value against the franc.
And relative to the euro, Swiss currency fell to an eight-month low of 1.02220.
READ ALSO: What impact will latest bank interest rate cut have on Swiss consumers?
Weekend weather: wait! Winter is not quite over yet
Although March 20th marked the first day of spring season and the temperature has reached 19C in many places across the country, don’t put away your winter clothes just yet.
That’s because a cold front is on its way.
“Temperature at an altitude of 1,500 m will drop by almost 10C,” according to the National Institute of Meteorology, MeteoSwiss.
On lowlands too it will be much cooler from Saturday, and frost could even cover the roads early Monday morning, after the cool night on Sunday.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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Geneva to lower taxes and offer free public transport to young people
In 2023, the canton recorded a budget surplus of nearly 1.4 million francs.
This enviable profit was made possible by “good control of charges, as well as higher-than-expected tax revenues,” cantonal authorities said in a press release on Thursday.
This surplus will allow the canton to cut taxes for the middle class and to offer free transport on the UNIRESO network to young people up to the age of 24.
Twint dominates Switzerland’s ‘most reputed brands' ranking
The cashless payment app took the top spot in the new Swiss Reputation Ranking, published by GfK market research institute on Thursday.
The ranking is based on consumer feedback about various Swiss brands.
In the second and third places are Zweifel chips company and Migros supermarket chain.
Ricola, national railway company SBB, Rivella, Die Mobiliar insurance, Coop, Lindt & Sprüngli chocolate manufacturers, and Geberit sanitary products are also among the top-10 most reputed brands.
GfK institute also asked survey participants to rank Switzerland’s best-known non-profit organisations.
Top among them are REGA air rescue service, Swiss Paraplegic Foundation, and Swiss Red Cross.
READ ALSO : What is Twint and how does it work?
Franc weakens after interest rate drop
After the Swiss National Bank cut the interest rate from 1.75 to 1.50 percent on Thursday, the franc, one of the world’s strongest currencies, has weakened by 1 percent.
As a result, the US dollar slightly gained in value against the franc.
And relative to the euro, Swiss currency fell to an eight-month low of 1.02220.
READ ALSO: What impact will latest bank interest rate cut have on Swiss consumers?
Weekend weather: wait! Winter is not quite over yet
Although March 20th marked the first day of spring season and the temperature has reached 19C in many places across the country, don’t put away your winter clothes just yet.
That’s because a cold front is on its way.
“Temperature at an altitude of 1,500 m will drop by almost 10C,” according to the National Institute of Meteorology, MeteoSwiss.
On lowlands too it will be much cooler from Saturday, and frost could even cover the roads early Monday morning, after the cool night on Sunday.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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