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Swiss parliamentary committee backs proposal to send $5.5 billion in aid to Ukraine

While the proposal must still get through more legislative steps before becoming law, it was supported by lawmakers from both center-right and center-left parties.

Russia , Switzerland , Lugano , Ticino , Denmark , Kyiv , Kyyiv , Misto , Ukraine , Swiss , Bloomberg

Switzerland reports significant reduction in frozen Russian assets

Frozen Russian assets value plummeted to 5.8 billion francs ($6.3 billion) from 7.5 billion ($8.2 billion) at the end of 2023, resulting from blocked shares and other financial assets being now worth less, State Secretariat for Economic Affairs (SECO) said, Reuters reported.

Ukraine , Switzerland , Russia , Swiss , Russian , Russians , Reuters , Swiss-bankers-association , Secretariat-for-economic-affairs , Frozen-russian , State-secretariat

Analysis-Swiss banking plan leaves 'relieved' UBS out of immediate firing line

UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the "monster bank" in line that were light on detail and heralded a tortuous political process to enshrine them in law. Shares in the Zurich-based lender took a knock on Wednesday after the finance ministry said its "too big to fail" recommendations envisaged tougher capital requirements for UBS and other systemically important banks following the rescue of its stricken rival Credit Suisse in 2023. "The measures proposed by the Federal Council are not enough to finally regulate the banking sector effectively," said Cedric Wermuth, co-leader of the centre-left Social Democrats (SP), the second-biggest party in the Swiss parliament.

Bern , Switzerland , Zurich , Züsz , Swiss , Cedric-wermuth , Stefania-spezzati , Noele-illien , Oliver-hirt , John-revill , Peterv-kunz , Peter-graff

Swiss ministers lose free ski lift passes after outcry amid rising cost of living

Switzerland’s top seven federal ministers are to lost their free access to the country’s ski resorts after criticism the perk was inappropriate when many taxpayers are struggling to make ends meet.

France , Berne , Bern , Switzerland , Swiss , Christophe-darbellay , Thomas-blasi , Federal-council , Lift-passes , Hristophe-darbellay , Ki-resorts

Analysis-Investors warm to Swiss stocks, weakening franc breaks the ice

Investors have been pouring cash into Swiss stocks in the hope that this export-focussed market will outshine its peers, in part thanks to a shift in central bank policy that could knock the franc further off 2023's multi-year highs. Analysts say this quarter will probably remain tough for exporters with the franc still trading at elevated levels, but expectations this might change soon are already setting the tone for the market. Currency strength was part of the problem, as many large Swiss firms make much of their revenues abroad, but report earnings and pay some costs in francs, meaning their overseas revenues shrink after being converted.

London , City-of , United-kingdom , Switzerland , Geneva , Genè , Japan , Swiss , Andreas-bruckner , Yusuke-miyairi , Lombard-odier , Tomasz-janowski

'Neutral' Swiss plan to boost defense spending in a world destabilized by Ukraine, Mideast wars

Switzerland's government plans to boost its defense spending by up to 19% over the next four years, citing a rise in global instability, including wars in Ukraine and the Middle East, and gaps created when Swiss authorities cashed in on a peace dividend from the fall of the Berlin Wall decades ago. Laying out mid- and long-range projections for military spending, Defense Minister Viola Amherd, who also holds the rotating Swiss presidency this year, said that as a result of cost-cutting measures over the last 30 years, “the army has been weakened,” and it would take time to make up lost ground. "For the first time, we are indicating how the army must evolve in the next 12 years," Amherd told reporters on Wednesday.

Switzerland , Ukraine , Russia , Berlin , Germany , Geneva , Genè , Swiss , Viola-amherd , European-union , Middle-east , Berlin-wall

I'm an American baker in Switzerland. Here are the best staples I buy at Aldi for 2.

I grew up in the US, but I relocated to Switzerland with my partner. As a baker, I love shopping at Aldi for our grocery staples and fun treats.

Switzerland , United-states , American , Swiss , Wiss-chocolate , Wiss-francs , Ldi , Egan-thorson , Wiss-cheese ,

Julius Baer to Exit Private Debt After Benko Saga Claims CEO

(Bloomberg) -- Julius Baer Group Ltd. said it would exit its private debt business after writing down all of its loans to the bankrupt Signa companies, and confirmed that Chief Executive Officer Philipp Rickenbacher is stepping down as a result of the scandal. Most Read from BloombergTrump Risks Losing More Than Half of Swing-State Voters If Found GuiltyMusk’s $55 Billion Pay Package Voided, Threatening World’s Biggest FortuneHouse Passes $78 Billion Business, Child Tax Break BillS&P 500 Has Its

Zurich , Züsz , Switzerland , Swiss , Romeo-lacher , Rene-benko , David-nicol , Philipp-rickenbacher , Bloomberg-businessweek , Julius-baer-rickenbacher , Julius-baer , Boris-collardi

Julius Baer CEO steps down; bank exits private debt business

ZURICH (Reuters) -Julius Baer CEO Philipp Rickenbacher will leave the bank, the Swiss wealth manager said on Thursday, as it reported net credit losses of 586 million Swiss francs ($679 million) linked to its exposure to property and retail giant Signa Holding. The write off was significantly more than the 400 million Swiss franc Signa-related loss analysts and a Swiss newspaper had estimated the bank would post from its ties to Rene Benko's Signa, which recently declared insolvency. Julius Baer also said it would exit the private debt business and re-focus its lending activities on mortgage and lombard lending.

Zurich , Züsz , Switzerland , Swiss , Julius-baer , Christopher-cushing , Philipp-rickenbacher , Noele-illien , Romeo-lacher , Kirsti-knolle , Signa-holding , Rene-benko

Swiss pharma major Roche sees net income slump, forecasts 2024 growth

Swiss pharmaceutical company Roche announced net income was down but it expects mid single-digit sales increase for 2024. Roche reported that its International Financial Reporting Standards (IFRS) net income for fiscal year 2023 declined about 9% to 12.36 billion Swiss francs from 13.53 billion francs last year. But IFRS net income increased by 7% at constant exchange rates (CER) due to the increase in operating profit and lower income tax expenses. Core earnings per share was 18.57 francs down

Switzerland , Swiss , International-financial-reporting-standards , Sales-increase , Nternational-financial-reporting-standards , Wiss-francs , Et-income , Xchange-rates , Roup-sales , Oche ,