Switzerland’s right wing anti-immigrant Swiss People’s Party has secured major wins in the national election.
Their campaign used images of migrants landing on the Italian island of Lampedusa as a centre point of its campaign.
It brushed aside the Radical-Liberals, which fought the election on a theme of “firm but fair” and insisted on the need to maintain the free movement of people.
Right-wing parties have been rising across Europe with Germany’s AfD receiving a boost from voters in regional ballots and Italy’s Prime Minister Giorgia Meloni still riding high in polls after a year in office.
The Swiss People's Party, known by its German acronym SVP, won 28.6 per cent of votes, up from 25.6 per cent four years ago – and close to its best ever performance, 29.4 per cent in 2015. The Radical-Liberals lost one.
The win means nine extra seats in the 200-member lower house, bringing its total to 62.
Final results for the House of Representatives show the Social Democrats gained two seats to 41 and the Centre Party gained one to 29, the Greens lost five and the Liberal Greens lost six.
In the 46-seat Senate, the Centre Party and the Radical-Liberals have so far won the most seats, but in some cantons a second round will be needed in November.
The SVP used two key migration numbers in its campaign. Asylum applications rose to 12,188 between the beginning of January and the end of June, compared to 2022 – or 43 per cent higher – and the presence in the country of 65,000 Ukrainian refugees.
“The worry about an explosion of the population is big,” SVP politician Thomas Matter said.
“I do hope that the conservative parties now work together on immigration matters, so the SVP doesn’t have to tackle this alone.”
The shift right was underscored by the success of the MCG alliance in Geneva, where the local populist group campaigned for preferential treatment of Swiss workers over French ones.
The SVP’s win will energise those who want the party to focus on radical positions instead of trying to forge compromises – something that has been at the core of Swiss politics for decades.
“If the outlier parties score with a campaign like this, then there’s no incentive to collaborate,” said Georg Lutz, a professor of political science at Lausanne university.
There are about 8.5 million Swiss citizens, with the majority of them – about 62 per cent – speaking Swiss-German dialects. Around 23 per cent speak French, mostly in the country's west, while the rest are Italian speakers. A small minority of people speak Romansh, a Romance language based on Latin.
At 25 per cent, Switzerland has a relatively high proportion of foreign-born residents and net immigration increased 14 per cent last year compared to 2021.
Like most European countries, Switzerland's election issues have surrounded the economy, migration and climate change.
Company%20profile
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The five pillars of Islam
UAE currency: the story behind the money in your pockets
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
In-demand jobs and monthly salaries
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
