Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north and Austria and Liechtenstein to the east. Switzerland is geographically divided among the Swiss Plateau, the Alps and the Jura; the Alps occupy the greater part of the territory, whereas most of the country's population of 9 million are concentrated on the plateau, which hosts its largest cities and economic centres, including Zurich, Geneva, and Basel.
Switzerland originates from the Old Swiss Confederacy established in the Late Middle Ages, following a series of military successes against Austria and Burgundy; the Federal Charter of 1291 is considered the country's founding document. Swiss independence from the Holy Roman Empire was formally recognised in the Peace of Westphalia in 1648. Switzerland has maintained a policy of armed neutrality since the 16th century and has not fought an international war since 1815. It joined the United Nations only in 2002 but pursues an active foreign policy that includes frequent involvement in peace building.
Switzerland is the birthplace of the Red Cross and hosts the headquarters or offices of most major international institutions, including the WTO, the WHO, the ILO, FIFA, and the UN. It is a founding member of the European Free Trade Association (EFTA), but not part of the European Union (EU), the European Economic Area, or the eurozone; however, it participates in the European single market and the Schengen Area. Switzerland is a federal republic composed of 26 cantons, with federal authorities based in Bern.
Switzerland is one of the world's most developed countries, with the highest nominal wealth per adult and the eighth-highest gross domestic product (GDP) per capita. Switzerland ranks first in the Human Development Index since 2021 and also performs highly on several international metrics, including economic competitiveness and democratic governance. Cities such as Zurich, Geneva and Basel rank among the highest in terms of quality of life, albeit with some of the highest costs of living. (Full article...)
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered simultaneously in Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy. Because of the bank's large positions in the Americas, EMEA and Asia Pacific markets, the Financial Stability Board considers it a global systemically important bank.
Apart from private banking, UBS provides wealth management, asset management and investment banking services for private, corporate and institutional clients with international service. UBS manages the largest amount of private wealth in the world, counting approximately half of The World's Billionaires among its clients. UBS also maintains a global investment bank and is considered a primary market maker. The bank also maintains numerous underground bank vaults, bunkers and storage facilities for gold bars around the Swiss Alps and internationally. Partly due to its banking secrecy, it has been at the centre of numerous tax avoidance investigations undertaken by U.S., French, German, Israeli and Belgian authorities. UBS operations in Switzerland and the United States were respectively ranked first and second on the 2018 Financial Secrecy Index. (Full article...)Zermatt (German: [tsɛʁˈmat] , Swiss Standard German: [tsɛrˈmat]) is a municipality in the district of Visp in the German-speaking section of the canton of Valais in Switzerland. It has a year-round population of about 5,800 and is classified as a town by the Swiss Federal Statistical Office (FSO).
It lies at the upper end of Mattertal at an elevation of 1,620 m (5,310 ft), at the foot of Switzerland's highest peaks. It lies about 10 km (6.2 mi) from the over 3,292 m (10,801 ft) high Theodul Pass bordering Italy. Zermatt is the southernmost commune of the German Sprachraum. (Full article...)The Nyon Conference was a diplomatic conference held in Nyon, Switzerland, in September 1937 to address attacks on international shipping in the Mediterranean Sea during the Spanish Civil War. The conference was convened in part because Italy had been carrying out unrestricted submarine warfare, although the final conference agreement did not accuse Italy directly; instead, the attacks were referred to as "piracy" by an unidentified body. Italy was not officially at war, nor did any submarine identify itself. The conference was designed to strengthen non-intervention in the Spanish Civil War. The United Kingdom and France led the conference, which was also attended by Bulgaria, Egypt, Greece, Romania, Turkey, the Soviet Union and Yugoslavia.
The first agreement, signed on 14 September 1937, included plans to counterattack aggressive submarines. Naval patrols were established; the United Kingdom and France were to patrol most of the western Mediterranean and parts of the east, and the other signatories were to patrol their own waters. Italy was to be allowed to join the agreement and patrol the Tyrrhenian Sea if it wished. A second agreement followed three days later, applying similar provisions to surface ships. Italy and Germany did not attend, although the former took up naval patrols in November. In marked contrast to the actions of the Non-Intervention Committee and the League of Nations, this conference succeeded in preventing attacks by submarines. (Full article...)List of Featured articles
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