US trade war generates lower revenue for the central bank; Migros to open its first round-the-clock branch; and more Swiss news in our roundup on Tuesday.
Central bank’s reserves have shrunk by billions of francs, depriving public of extra revenues
The trade war launched by the United States and the falling dollar have put the Swiss National Bank (SNB) under pressure, resulting in much less money — to the tune of 25 billion francs — in its coffers.
More losses are possible, depending on how the tariffs will evolve over time.
The dwindling of the reserves means the SNB will generate less profits to distribute to the federal and cantonal governments, which are then typically used for the benefit of Switzerland’s population.
In 2024, 3 billion francs — 1 billion to the federal government and the rest to the cantons — were meted out for public use.
First Migros store to open 24 hours a day, seven days a week
The country’s biggest supermarket chain will open its first 24/7 branch — a rarity in Switzerland — this summer at one of its locations in Herisau (AR).
“The need for shopping opportunities outside of regular store opening hours is increasing,” Migros said in a press release.
This would be a test phase, pending final approval from the municipality.
In concrete terms, the store will operate normally during regular opening hours.
Then, outside of these hours, it will be unmanned, with complete self-service, using self-scanning devices. Access and surveillance technologies will be activated.
The company did not say whether similar models will be put into use elsewhere in Switzerland.
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A record number of unexploded munitions were reported in 2024
Members of the public had discovered more than a thousand unexploded munitions in nature across Switzerland, mostly in the cantons of Bern, Graubünden, and Valais, the Defence Department reported on Monday.
That is 26 percent more than the long-term average.
These remnants were mostly found on hiking trails and near military training grounds.
They were “safely defused” by the appropriately named Mine Clearance and Unexploded Ordnance Disposal Command (DEMUNEX).
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Chair Airlines changes its official ‘ID’
The small Swiss airline which connects Zurich with 15 destinations, has been known by its IATA code — GM.
But from April 29th, the airline fly under its new abbreviation, CS, which stands for Chair Switzerland.
The new code symbolises Chair’s ambition to be known more widely as a Swiss airline, like its bigger siblings: SWISS, Edelweiss, and Helvetica.
“Our values and our DNA are inextricably linked to ‘Swissness.’ With the new code, we are now visibly conveying this identity to the outside world,” said Ruzica Pantic, a member of the airline’s executive board.
Although the code change will not have a major operational impact, “it marks a strategically important milestone for the company.”
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