Switzerland has emerged as a key hub in Venezuela’s gold dealings.
According to Swiss TV SRF, billions of francs’ worth of Venezuelan gold was flown here between 2012 and 2016 and remelted.
The shipments, ordered by President Nicolás Maduro, were used to raise hard currency as the state neared bankruptcy.
Venezuela defaulted in 2017 and now owes around USD 170 bn.
Much of the gold was later sold on, including to Turkey.
Today, tighter rules make such trades unlikely.
Too late to save the ski season
It’s being a grim ski season.
No major breakthough's expected at Davos
The new co-chair of the World Economic Forum, André Hoffmann, has played down expectations surrounding Donald Trump’s appearance in Davos.
Gruyère survives US sanctions
Sales of Gruyère cheese fell less sharply last year than expected, despite US tariffs.
Paléo wins major award
The Paléo Festival has been named Best Major Festival in Europe.
Push to fund night trains by cities
After the refusal by Bern to subsidize night trains, left-wing parties in five cities are launching a coordinated push to support international night trains.
One inequality less in Swiss football.
The Swiss Football Association has changed the priority order for the use of playing fields, giving women’s football precedence over men’s competitions - with the exception of the Men’s Super League, which keeps top priority.
