The World Economic Forum said on Monday that its founder Klaus Schwab has resigned as chair and left the Board of Trustees with immediate effect, ending more than five decades at the helm of the organization he created in 1971. Schwab, 87, announced the decision as he enters his 88th year, citing the need for fresh leadership.

According to a statement released by the Geneva‑based forum, the move was approved at an extraordinary board meeting on 20 April. Schwab’s departure closes a chapter in which he transformed the annual Davos gathering into a fixture for political leaders, corporate executives and civil‑society representatives seeking to shape the global agenda.

Vice‑chair Peter Brabeck‑Letmathe, the former chief executive of Nestlé, will assume the chairmanship on an interim basis while the board undertakes a search for a permanent successor. The forum said preparations for the next Davos meeting will continue as planned under the new governance arrangement.

A 19-year-old Asian elephant at the Zurich Zoo gave birth before dawn Saturday to a male calf, whose name, starting with the letter Z, will be announced after a staff meeting on Wednesday. The birth, recorded by a light-sensitive monitoring camera inside the zoo’s Kaeng Krachan Elephant Park, brings the zoo's elephant population to six: four females, including mother Farha—already a mother of three—bull elephant Thai, and the newborn.

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The Swiss franc has reached its highest level in a decade, reflecting a clear shift toward risk aversion in global markets. Over the past month, the currency has strengthened by 8.57%, driven by factors including tariff concerns. This appreciation of the Swiss franc has been notable alongside a further rise in the Japanese yen, both currencies benefiting from investors seeking safety amid market uncertainties.

Swiss grocery chain Spar has initiated a pilot program allowing customers to pay with Bitcoin at a supermarket in Zug, Switzerland. The payment system uses DFX Swiss’s Lightning Network-based solution, enabling shoppers to complete transactions by scanning a QR code at checkout. This trial aims to provide seamless, secure, and fast Bitcoin payments and could potentially be expanded nationwide across Switzerland if successful. The initiative highlights the integration of advanced blockchain technologies, including mentions of Starknet’s scalable and cost-effective rollup technology, which supports enhanced user experience and security for cryptocurrency transactions.

Swiss climber Nicolas Hojac and Austrian mountaineer Philipp Brugger set a new speed record by ascending three prominent peaks in the Swiss Alps—Eiger, Mönch, and Jungfrau—in 15 hours and 30 minutes. This achievement surpasses the previous record of 25 hours, established by a Swiss climber in 2004, by nearly 10 hours. Their climb broke a 21-year-old record and highlights a remarkable advancement in alpine speed ascents.

Christiane Brunner, a prominent Swiss politician and former president of the Social Democratic Party (SP), has died at the age of 78. Brunner was a key figure in Swiss politics, known for her leadership in the women’s movement and her work as a trade unionist. She served as both a National Councillor and a Councillor of States, representing Geneva. Her death was confirmed by her family and reported by Swiss media including RTS and Tages-Anzeiger. Brunner was widely recognized as a symbol of the fight for gender equality in Switzerland, and her party has publicly mourned her passing.

Switzerland's trade balance for March 2025 showed a surplus of CHF 6.35 billion, up from CHF 4.80 billion in the previous month. Real exports increased by 3.2% month-over-month, down from a revised 3.9% in February, while real imports rose by 4.5%, up from a revised 3.7%. On a year-over-year basis, Swiss watch exports grew by 1.5%, recovering from a decline of 8.2% the previous year. Additionally, Swiss gold exports to the United States reached record levels in March.

Deutsche Bahn is undertaking extensive construction projects in southern Germany, including the complex transition from terminal to through stations, expected to continue until 2027. However, the company is struggling to keep pace with announcing these construction sites, resulting in operational chaos on the rail network and incurring millions of euros in penalty payments. This situation has led Deutsche Bahn to halt some major construction projects, causing frustration among Swiss partners. Bahn CEO Richard Lutz has acknowledged the challenges and discussed the roles both management and political stakeholders play in the current state of the railway system.

Michael Halbye, a top executive at Lego and a close friend of the Danish royal family, died in a tragic skiing accident on Saturday, April 12, in the Swiss Alps. The 64-year-old was skiing at the Verbier resort in the Col de Chassoure region when he fell off piste and sustained fatal injuries from internal bleeding. He was airlifted by helicopter to the hospital but did not survive.

Halbye was the vice chairman of Kirkbi, the investment firm that owns a majority stake in Lego. His death was announced by Kirkbi's chairman, Thomas Kirk Kristiansen, who expressed deep sorrow and highlighted Halbye's significant impact both professionally and personally. Halbye had been a board member of Kirkbi since 2020 and vice chairman since 2022.

Read more

Recent discussions have surfaced regarding the production of Swiss watches, revealing that many labeled as 'Swiss made' are largely manufactured in China. Reports indicate that while the final assembly may occur in Switzerland, a significant portion of the components is sourced from Chinese manufacturers. This practice has raised concerns about the authenticity of the 'Swiss made' label, particularly for brands like Swatch, though it is suggested that higher-end brands may still adhere to stricter manufacturing standards. The revelations have sparked debate about the implications for consumers and the integrity of Swiss watchmaking.

The Golconda Blue, a rare 23.24-carat vivid blue diamond with origins in the legendary Golconda mines of India, is set to make its auction debut at Christie's 'Magnificent Jewels' sale in Geneva on May 14. The diamond, mounted in a contemporary ring designed by Parisian jeweler JAR, is estimated to fetch between $35 million and $50 million.

Once owned by Indian royalty, including Maharaja Yeshwant Rao Holkar II of Indore and the Maharajas of Baroda, the diamond has a rich history. It was originally set in a bracelet by French jeweler Chaumet in 1923 and later incorporated into a necklace alongside the famed Indore Pears by Mauboussin. The necklace was famously depicted in a portrait of the Maharani of Indore by French artist Bernard Boutet de Monvel.

Read more

Maxi López, the former Argentine footballer, has acquired a 40% stake in the Swiss club FC Paradiso, which competes in the Swiss Promotion League, the third tier of Swiss football. This investment follows his previous ownership of Birmingham City in England, which he took on after retiring from professional football in 2021. López aims to invest in the club's youth development programs. FC Paradiso also features Ezequiel, known as 'Galgo', in its roster. The acquisition marks a significant step in López's transition from player to entrepreneur in the football industry.

Xherdan Shaqiri, the 33-year-old Swiss footballer, is experiencing a remarkable resurgence at his boyhood club, FC Basel. In a recent match against FC Zurich, he scored a double, including a stunning free-kick. This season, Shaqiri has played 31 matches across all competitions, netting 15 goals and providing 14 assists, making him the top scorer and assist provider in the Swiss Super League. His performance continues to showcase his exceptional skills, despite having moved away from the top leagues in Europe.

The F-47, a new U.S. fighter jet, has been criticized as a potential waste of resources, with claims that it is designed more to protect budgets than to engage in combat. This sentiment is echoed in a recent poll indicating that a majority of Swiss citizens oppose purchasing the F-35, another U.S. fighter jet. Meanwhile, in India, the Defence Research and Development Organisation (DRDO) is making strides towards developing its own fifth-generation stealth aircraft, the Advanced Medium Combat Aircraft (AMCA), with expectations for project maturity in the next year. DRDO Chairman Dr. Samir V. Kamat emphasized the importance of collaboration with industry and academia, stating that several projects are nearing completion. He also noted that India is among the few countries, alongside the U.S., Russia, and China, to demonstrate advanced stealth capabilities. As the international defense landscape evolves, the U.S. faces challenges from emerging technologies in countries like China, which is reportedly advancing its own sixth-generation fighter capabilities.

Swiss forensic psychiatrist Frank Urbaniok has called for a reevaluation of asylum policies in light of rising crime rates associated with certain migrant groups. In his book, "Schattenseiten der Migration," Urbaniok discusses the link between foreign nationals and increased criminal activity, noting that individuals from countries such as Afghanistan, Morocco, and Tunisia are reported for serious violent crimes significantly more often than Swiss nationals. Specifically, Afghans are reported more than five times, Moroccans more than eight times, and Tunisians more than nine times. Urbaniok attributes these trends to cultural factors and advocates for asylum quotas based on crime statistics. The discussion has sparked concerns about the intersection of migration and organized crime, particularly in regions like the Rheinland, which has seen an uptick in violence and criminal activities involving firearms and organized groups.

A recent survey indicated that 42% of Swiss citizens support increasing the military budget, with a notable portion advocating for even more funding than proposed by the parliament. However, a majority, 52%, either agree with the parliament's budget or prefer a reduction in military spending. Additionally, there is significant opposition to the purchase of the U.S.-made F-35 fighter jets, with two-thirds of respondents expressing disapproval of this acquisition. This sentiment reflects a broader debate on military spending and procurement in Switzerland.

Donald Trump has promised to reassess tariffs imposed on Switzerland, as stated by Swiss Minister of Finance Karin Keller-Sutter. This commitment came just hours before Trump announced a suspension of many tariffs affecting various countries. Keller-Sutter highlighted her successful direct communication with Trump regarding these tariff announcements, emphasizing the importance of national unity over division in the face of global challenges. The recent developments reflect ongoing financial interactions between the U.S. and Switzerland, with U.S. investments in Switzerland reportedly influenced by Trump's policies.

UBS Chairman Colm Kelleher has expressed concerns regarding proposed reforms in Switzerland that would significantly increase the bank's capital requirements. He indicated that the demands from the Swiss regulator and central bank could lead to a 50% hike in capital. This proposal has been criticized by Kelleher as 'extreme.' In response to UBS's offer of a permanent cap on the size of its investment bank, Swiss Finance Minister Karin Keller-Sutter remained non-committal, stating that it would not influence her stance on future capital requirements. The Swiss banking lobby has also raised alarms about the potential risks of UBS relocating due to these regulatory pressures. Reports suggest that Switzerland's financial sector generates substantial economic benefits, including lower corporate loan costs, as highlighted by Oliver Wyman.

Switzerland is facing economic challenges due to tariffs imposed by the Trump administration. In response, the Swiss government has appointed Ambassador Gabriel Lüchinger to represent Swiss interests in the United States. Analysts suggest that instead of seeking concessions in Washington, Switzerland should strengthen its ties with the European Union. The situation has prompted discussions about Switzerland's industrial model and its ability to adapt to the changing trade landscape. Furthermore, the Swiss and other allied nations are grappling with how to respond to Trump's policies without violating World Trade Organization (WTO) rules. As a result of these developments, Switzerland is reportedly seeking closer relations with the EU, with plans to participate in the upcoming EU summit alongside the UK.

Swiss President Karin Keller-Sutter announced on April 9, 2025, that she had a telephone conversation with U.S. President Donald Trump regarding trade matters. During the discussion, both leaders agreed to continue talks aimed at addressing issues beneficial to both nations. Keller-Sutter expressed optimism about finding solutions in the near future.

The World Economic Forum said on Monday that its founder Klaus Schwab has resigned as chair and left the Board of Trustees with immediate effect, ending more than five decades at the helm of the organization he created in 1971. Schwab, 87, announced the decision as he enters his 88th year, citing the need for fresh leadership.

According to a statement released by the Geneva‑based forum, the move was approved at an extraordinary board meeting on 20 April. Schwab’s departure closes a chapter in which he transformed the annual Davos gathering into a fixture for political leaders, corporate executives and civil‑society representatives seeking to shape the global agenda.

Vice‑chair Peter Brabeck‑Letmathe, the former chief executive of Nestlé, will assume the chairmanship on an interim basis while the board undertakes a search for a permanent successor. The forum said preparations for the next Davos meeting will continue as planned under the new governance arrangement.

A 19-year-old Asian elephant at the Zurich Zoo gave birth before dawn Saturday to a male calf, whose name, starting with the letter Z, will be announced after a staff meeting on Wednesday. The birth, recorded by a light-sensitive monitoring camera inside the zoo’s Kaeng Krachan Elephant Park, brings the zoo's elephant population to six: four females, including mother Farha—already a mother of three—bull elephant Thai, and the newborn.

Read more

The Swiss franc has reached its highest level in a decade, reflecting a clear shift toward risk aversion in global markets. Over the past month, the currency has strengthened by 8.57%, driven by factors including tariff concerns. This appreciation of the Swiss franc has been notable alongside a further rise in the Japanese yen, both currencies benefiting from investors seeking safety amid market uncertainties.

Swiss grocery chain Spar has initiated a pilot program allowing customers to pay with Bitcoin at a supermarket in Zug, Switzerland. The payment system uses DFX Swiss’s Lightning Network-based solution, enabling shoppers to complete transactions by scanning a QR code at checkout. This trial aims to provide seamless, secure, and fast Bitcoin payments and could potentially be expanded nationwide across Switzerland if successful. The initiative highlights the integration of advanced blockchain technologies, including mentions of Starknet’s scalable and cost-effective rollup technology, which supports enhanced user experience and security for cryptocurrency transactions.

Swiss climber Nicolas Hojac and Austrian mountaineer Philipp Brugger set a new speed record by ascending three prominent peaks in the Swiss Alps—Eiger, Mönch, and Jungfrau—in 15 hours and 30 minutes. This achievement surpasses the previous record of 25 hours, established by a Swiss climber in 2004, by nearly 10 hours. Their climb broke a 21-year-old record and highlights a remarkable advancement in alpine speed ascents.

Christiane Brunner, a prominent Swiss politician and former president of the Social Democratic Party (SP), has died at the age of 78. Brunner was a key figure in Swiss politics, known for her leadership in the women’s movement and her work as a trade unionist. She served as both a National Councillor and a Councillor of States, representing Geneva. Her death was confirmed by her family and reported by Swiss media including RTS and Tages-Anzeiger. Brunner was widely recognized as a symbol of the fight for gender equality in Switzerland, and her party has publicly mourned her passing.

Switzerland's trade balance for March 2025 showed a surplus of CHF 6.35 billion, up from CHF 4.80 billion in the previous month. Real exports increased by 3.2% month-over-month, down from a revised 3.9% in February, while real imports rose by 4.5%, up from a revised 3.7%. On a year-over-year basis, Swiss watch exports grew by 1.5%, recovering from a decline of 8.2% the previous year. Additionally, Swiss gold exports to the United States reached record levels in March.

Deutsche Bahn is undertaking extensive construction projects in southern Germany, including the complex transition from terminal to through stations, expected to continue until 2027. However, the company is struggling to keep pace with announcing these construction sites, resulting in operational chaos on the rail network and incurring millions of euros in penalty payments. This situation has led Deutsche Bahn to halt some major construction projects, causing frustration among Swiss partners. Bahn CEO Richard Lutz has acknowledged the challenges and discussed the roles both management and political stakeholders play in the current state of the railway system.

Michael Halbye, a top executive at Lego and a close friend of the Danish royal family, died in a tragic skiing accident on Saturday, April 12, in the Swiss Alps. The 64-year-old was skiing at the Verbier resort in the Col de Chassoure region when he fell off piste and sustained fatal injuries from internal bleeding. He was airlifted by helicopter to the hospital but did not survive.

Halbye was the vice chairman of Kirkbi, the investment firm that owns a majority stake in Lego. His death was announced by Kirkbi's chairman, Thomas Kirk Kristiansen, who expressed deep sorrow and highlighted Halbye's significant impact both professionally and personally. Halbye had been a board member of Kirkbi since 2020 and vice chairman since 2022.

Read more

Recent discussions have surfaced regarding the production of Swiss watches, revealing that many labeled as 'Swiss made' are largely manufactured in China. Reports indicate that while the final assembly may occur in Switzerland, a significant portion of the components is sourced from Chinese manufacturers. This practice has raised concerns about the authenticity of the 'Swiss made' label, particularly for brands like Swatch, though it is suggested that higher-end brands may still adhere to stricter manufacturing standards. The revelations have sparked debate about the implications for consumers and the integrity of Swiss watchmaking.

The Golconda Blue, a rare 23.24-carat vivid blue diamond with origins in the legendary Golconda mines of India, is set to make its auction debut at Christie's 'Magnificent Jewels' sale in Geneva on May 14. The diamond, mounted in a contemporary ring designed by Parisian jeweler JAR, is estimated to fetch between $35 million and $50 million.

Once owned by Indian royalty, including Maharaja Yeshwant Rao Holkar II of Indore and the Maharajas of Baroda, the diamond has a rich history. It was originally set in a bracelet by French jeweler Chaumet in 1923 and later incorporated into a necklace alongside the famed Indore Pears by Mauboussin. The necklace was famously depicted in a portrait of the Maharani of Indore by French artist Bernard Boutet de Monvel.

Read more

Maxi López, the former Argentine footballer, has acquired a 40% stake in the Swiss club FC Paradiso, which competes in the Swiss Promotion League, the third tier of Swiss football. This investment follows his previous ownership of Birmingham City in England, which he took on after retiring from professional football in 2021. López aims to invest in the club's youth development programs. FC Paradiso also features Ezequiel, known as 'Galgo', in its roster. The acquisition marks a significant step in López's transition from player to entrepreneur in the football industry.

Xherdan Shaqiri, the 33-year-old Swiss footballer, is experiencing a remarkable resurgence at his boyhood club, FC Basel. In a recent match against FC Zurich, he scored a double, including a stunning free-kick. This season, Shaqiri has played 31 matches across all competitions, netting 15 goals and providing 14 assists, making him the top scorer and assist provider in the Swiss Super League. His performance continues to showcase his exceptional skills, despite having moved away from the top leagues in Europe.

The F-47, a new U.S. fighter jet, has been criticized as a potential waste of resources, with claims that it is designed more to protect budgets than to engage in combat. This sentiment is echoed in a recent poll indicating that a majority of Swiss citizens oppose purchasing the F-35, another U.S. fighter jet. Meanwhile, in India, the Defence Research and Development Organisation (DRDO) is making strides towards developing its own fifth-generation stealth aircraft, the Advanced Medium Combat Aircraft (AMCA), with expectations for project maturity in the next year. DRDO Chairman Dr. Samir V. Kamat emphasized the importance of collaboration with industry and academia, stating that several projects are nearing completion. He also noted that India is among the few countries, alongside the U.S., Russia, and China, to demonstrate advanced stealth capabilities. As the international defense landscape evolves, the U.S. faces challenges from emerging technologies in countries like China, which is reportedly advancing its own sixth-generation fighter capabilities.

Swiss forensic psychiatrist Frank Urbaniok has called for a reevaluation of asylum policies in light of rising crime rates associated with certain migrant groups. In his book, "Schattenseiten der Migration," Urbaniok discusses the link between foreign nationals and increased criminal activity, noting that individuals from countries such as Afghanistan, Morocco, and Tunisia are reported for serious violent crimes significantly more often than Swiss nationals. Specifically, Afghans are reported more than five times, Moroccans more than eight times, and Tunisians more than nine times. Urbaniok attributes these trends to cultural factors and advocates for asylum quotas based on crime statistics. The discussion has sparked concerns about the intersection of migration and organized crime, particularly in regions like the Rheinland, which has seen an uptick in violence and criminal activities involving firearms and organized groups.

A recent survey indicated that 42% of Swiss citizens support increasing the military budget, with a notable portion advocating for even more funding than proposed by the parliament. However, a majority, 52%, either agree with the parliament's budget or prefer a reduction in military spending. Additionally, there is significant opposition to the purchase of the U.S.-made F-35 fighter jets, with two-thirds of respondents expressing disapproval of this acquisition. This sentiment reflects a broader debate on military spending and procurement in Switzerland.

Donald Trump has promised to reassess tariffs imposed on Switzerland, as stated by Swiss Minister of Finance Karin Keller-Sutter. This commitment came just hours before Trump announced a suspension of many tariffs affecting various countries. Keller-Sutter highlighted her successful direct communication with Trump regarding these tariff announcements, emphasizing the importance of national unity over division in the face of global challenges. The recent developments reflect ongoing financial interactions between the U.S. and Switzerland, with U.S. investments in Switzerland reportedly influenced by Trump's policies.

UBS Chairman Colm Kelleher has expressed concerns regarding proposed reforms in Switzerland that would significantly increase the bank's capital requirements. He indicated that the demands from the Swiss regulator and central bank could lead to a 50% hike in capital. This proposal has been criticized by Kelleher as 'extreme.' In response to UBS's offer of a permanent cap on the size of its investment bank, Swiss Finance Minister Karin Keller-Sutter remained non-committal, stating that it would not influence her stance on future capital requirements. The Swiss banking lobby has also raised alarms about the potential risks of UBS relocating due to these regulatory pressures. Reports suggest that Switzerland's financial sector generates substantial economic benefits, including lower corporate loan costs, as highlighted by Oliver Wyman.

Switzerland is facing economic challenges due to tariffs imposed by the Trump administration. In response, the Swiss government has appointed Ambassador Gabriel Lüchinger to represent Swiss interests in the United States. Analysts suggest that instead of seeking concessions in Washington, Switzerland should strengthen its ties with the European Union. The situation has prompted discussions about Switzerland's industrial model and its ability to adapt to the changing trade landscape. Furthermore, the Swiss and other allied nations are grappling with how to respond to Trump's policies without violating World Trade Organization (WTO) rules. As a result of these developments, Switzerland is reportedly seeking closer relations with the EU, with plans to participate in the upcoming EU summit alongside the UK.

Swiss President Karin Keller-Sutter announced on April 9, 2025, that she had a telephone conversation with U.S. President Donald Trump regarding trade matters. During the discussion, both leaders agreed to continue talks aimed at addressing issues beneficial to both nations. Keller-Sutter expressed optimism about finding solutions in the near future.