Record number of foreigners are employed in top jobs in Switzerland and what foreigners should do to protect their savings — these are among the news that The Local reported this week. You can catch up on everything in this weekly roundup.
Record number of foreign nationals are employed in top Swiss posts
The proportion of foreign nationals hired to fill top management positions in Swiss companies “has never been higher”, according to a new report.
It found that the current proportion of foreigners in corporate management in Switzerland — 49 percent — is “unprecedented.”
In terms of new hires only, the proportion of non-Swiss is even higher, as it now stands at 63 percent.
Most of them work at large companies such as Novartis, Roche, and Nestlé.
READ ALSO: ‘Unprecedented’ number of foreigners employed in top positions in Switzerland
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Disruptions to hit international train traffic in coming months
A number of trains to and from Switzerland, including nighttime ones, will experience cancellations and other disruptions from this spring until the end of the year.
They include trains to and from popular destinations in Austria, Germany, and France, among others, leaving from. or arriving in Zurich, Basel, and Geneva.
The reasons for these disruptions range from maintainance of the tracks to construction work on the railroad infrastructure in general.
READ ALSO: International and night trains in Switzerland set for major disruption
One-third of dentists ‘inflate’ their bills
A third of all dentists practicing in Switzerland reportedly overcharge their patients by between 50 and 100 francs.
Overall, estimates point to the over-billing of 200 million francs per year.
This has come to light when a patient’s bill was found to be 800 francs too much, based on a point system devised by the Swiss Dental Association.
While dentists in Switzerland are in principal free to set their own rates, they can’t exceed a certain threshold.
READ ALSO: A third of dentists in Switzerland ‘overcharge’ their patients
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A new ‘tax scam’ is targeting residents
Residents in Vaud have been targeted by fake tax invoices ordering them to pay arrears and fines for allegedly unpaid bills.
Many people have reported receiving these fake invoices sent by mail, and containing a QR code for a fraudulent account.
The letters, allegedly from the cantonal tax authorities, state that the recipient has not paid their 2024 taxes, and demands an immediate transfer of 5,000 francs, in addition to interest and administrative fees, for a total of 5,430 francs.
Police are advising recipients to ignore these letters.
READ ALSO: Residents in Switzerland warned to be wary of new tax scam
Market turmoil concerns Swiss with savings and investments
Donald Trump has sparked turmoil on the financial markets with his planned tariffs. Even though he delayed the 31 percent levies on Switzerland the markets look set to continue to be volatile.
Whether you have investments or just regular savings account, you are probably worried about what these upheavals will do to your finances, and how you can mitigate the damage.
The Local put these questions to Daniel Dreier, a personal finance expert at Moneyland, a consumer platform for — as its name suggests — all matters related to money.
If you invested for the long haul and your portfolio is well diversified, you may not have to do anything at all, Dreier said.
However, his advice is to be cautious about your personal finances in good times and bad.
Though you can’t do much about your current portfolio while the market is going crazy, generally speaking, “basic rules of investing remain the same regardless of the market situation,” Dreier said.
And that means you should “only invest money that you can afford to live without.”
Read the full story here: How to protect your Swiss savings and investments amid stock market turmoil
