Le news 28 08 14

Page 1

SWIS S N EW S IN E NGLI S H %LPHQVXHO JUDWXLW 1Ź ō $XJXVW 6HSWHPEHU /DNH *HQHYD UHJLRQ

ZZZ OHQHZV FK

86 YRWHUV FDOOHG 'HDO ZLWK WR UHJLVWHU VFKRRO EXOO\LQJ 5HJLRQDO QHZV

,QVLJKW

<RXU SHQVLRQ WR *RLQJ EXPS LQ EX\ \RXU KRPH WKH QLJKW

&KH] YRXV

&UDFNLQJ XS

6LPRQ +DUG\ RQ ZLQHV WR HQMR\ ZLWK ŃOD FKDVVHń

6XLFLGH WRXULVP ULVHV 7KH DYHUDJH DJH RI DVVLVWHG VXLFLGHV LV

=85,&+ .PSF UIBO OPO 4XJTT SFTJ EFOUT EJFE PG BTTJTUFE TVJDJEF JO 4XJU[FSMBOE CFUXFFO BOE IFMQFE CZ PSHBOJ[BUJPOT TVDI BT %JHOJUBT *O BMPOF UIF NBKPSJUZ DBNF GSPN (FSNBOZ GPMMPXFE CZ UIF 6, *UBMZ 'SBODF BOE UIF 64 " TUVEZ CZ UIF +PVSOBM PG .FEJDBM &UIJDT XIJDI MPPLFE BU EBUB GSPN ;VSJDI 6OJWFSTJUZ T *OTUJUVUF PG -FHBM .FEJDJOF

GPVOE B JODSFBTF BNPOH UIPTF TFFL JOH UP FOE UIFJS MJWFT PWFS UIF GPVS ZFBS QFSJPE "DDPSEJOH UP SFTFBSDIFS 4BTLJB (BVUIJFS BO JNCBMBODF JO OBUJPOBM SFHV MBUJPOT IBT MFE UP BO JOGMVY PG iTVJDJEF UPVSJTUTu DPNJOH UP 4XJU[FSMBOE 4XJTT MBX EPFT OPU SFRVJSF B QIZTJDJBO UP CF JOWPMWFE /PS EPFT JU SFRVJSF UIF SFDJQJ FOU UP CF B 4XJTT OBUJPOBM 5IFTF BTQFDUT PG UIF MBX BSF VOJRVF JO UIF XPSME 'PDVTJOH POMZ PO GPSFJHO TVJDJEFT JO

XIJDI UIF BWFSBHF BHF XBT UIF TUVEZ OPUFE UIBU PVU PG UIF DBTFT DJUFE PSJHJOBUFE GSPN (FSNBOZ BOE GSPN UIF 6, 5IF OFYU MBSHFTU OVNCFS DBNF GSPN 'SBODF GPMMPXFE CZ *UBMZ GSPN XIFSF DBTFT JODSFBTFE CZ UJNFT EVS JOH UIF QFSJPE i5IF NBJO SFBTPOT XFSF OFVSPMPHJDBM EJTFBTF GPMMPXFE CZ DBODFS SIFVNBUJD BOE DBSEJPWBTDVMBS EJTFBTFT u UIF SFQPSU TBJE &RQWLQXHG RQ SDJH

Intensive French Courses - Small Groups

École Schulz

20 lessons/week – New Classes starting in September

6-8, rue du 31-Décembre 1207 Geneva Phone 022 707 41 41 www.esgva.ch mail: info@esgva.ch

Preparation for DELF – Best Results – 70 Years Experience


$XJXVW 6HSWHPEHU /( 1(:6

7KLV :HHN LQ 6ZLW]HUODQG 8JUI PG JUT QPQVMBUJPO DPNJOH GSPN DPVOUSJFT QSPNPUJOH JOUF HSBUJPO JT B LFZ PCKFDUJWF GPS -BVTBOOF 5IF DJUZ BOOPVODFE UIBU JU JT MBVODIJOH BO JOUFHSBUJPO GVOE PG $)' GPS OPU GPS QSPGJU HSPVQT UP SVO QSPKFDUT UIBU QSFWFOU SBDJTN PS QSPNPUF TPDJBM DPIFTJPO

4BMFT PG i5IF 'JSNu B HBNF GPS NPCJMF QIPOFT JOWFOUFE CZ -BVTBOOF CBTFE 4VOOZTJEF (BNFT IBWF SPDLFUFE UBL JOH JU JOUP UIF UPQ CFTU TFMMFST JO DPVOUSJFT BOE UP UPQ QPTJUJPO JO UIF 64 BOE 4XJU[FSMBOE 0WFS DPQJFT IBWF CFFO TPME WJB "QQMF T "QQ TUPSF *U XJMM CF BWBJMBCMF TIPSUMZ PO PUIFS NPCJMF QMBUGPSNT

(FOFWB 6OJWFSTJUZ BOE JUT QBSUOFST IBWF DPNQMFUFE BO FYQFEJUJPO m 5FSSB 4VCNFSTB m UP FYQMPSF (SFFDF T VOEFSXBUFS QBTU BOE UIF QSFIJTUPSJD MBOETDBQFT JO UIF (VMG PG /BVQMJP 8PSLJOH PO 1MBOFU 4PMBS UIF XPSME T MBSHFTU TPMBS DBUBNBSBO BSDIFPMPHJTUT NBQQFE UIF TFB GMPPS BOE VODPWFSFE 1BMFPMJUIJD BOE /FPMJUIJD SFNBJOT EBUJOH CBDL ZFBST #VDLJOH 4XJU[FSMBOE T BOUJ JNNJ HSBOU USFOE B +VSB DBOUPOBM JOJUJBUJWF XBOUT OPO 4XJTT SFTJEFOUT UP TUBOE JO MPDBM FMFDUJPOT UP BEESFTT B TIPSUBHF PG DBOEJEBUFT UP BENJOJTUFS DPNNVOFT %FTQJUF UXP FBSMJFS GBJMFE JOJUJBUJWFT BMMPXJOH GPSFJHOFST UP SVO GPS NBZPS PS QBSMJBNFOU UIJT 4FQUFNCFS SFG FSFOEVN JT POMZ QVTIJOH GPS DPNNV OBM DPVODJMT

5IF 3PNBOE #VTJOFTT 'FEFSBUJPO '&% IBT XBSOFE UIBU MPOH EFMBZT GPS CVJMEJOH QFSNJUT BOE JODSFBTJOHMZ DPNQMFY MBCPVS SVMFT UISFBUFO 4XJTT QSPTQFSJUZ "EESFTTJOH TPNF FOUSFQSFOFVST JO (FOFWB '&% QSFTJ EFOU /JDPMBT #SBVOTDIXFJH XBSOFE PG UIF OFFE UP QSPUFDU 4XJU[FSMBOE T QPTJUJPO BT IBWJOH UIF GPVSUI MBSHFTU (%1 QFS DBQJUB JO UIF XPSME BGUFS 2BUBS /PSXBZ BOE -VYFNCPVSH 4XJTTDPXT DI m 4XJU[FSMBOE T BOTXFS UP (PPHMF m JT CFHJOOJOH UP HJWF UIF $BMJGPSOJB TFBSDI FOHJOF B SVO GPS JUT NPOFZ -BVODIFE CZ )VMCFF "( JO +VOF JU IBT BUUSBDUFE VTFST 4XJTTDPXT QSFTFOUT JUTFMG BT UIF GJSTU JOUFMMJHFOU iBOTXFS FOHJOFu CBTFE PO TFNBOUJD JOGPSNBUJPO SFDPHOJUJPO BOE JOUVJUJWF TFBSDI BTTJTUBODF

-F /FXT POMJOF 9LVLW OHQHZV FK IRU PRUH QHZV DQG LQVLJKW

4VJDJEF UPVSJTN &RQWLQXHG IURP SDJH

"DDPSEJOH UP UIF 'FEFSBM 0GGJDF PG 4UBUJTUJDT 4XJTT SFTJEFOUT DPOTUJUVUFE TVJDJEFT JO 5IF 4XJTT TUVEZ XBT QSPNQUFE CZ EFCBUF JO QMBDFT TVDI BT UIF 6, (FSNBOZ BOE %FONBSL (BVUJFS CFMJFWFT UIBU iUIF QIFOPNF OPO PG TVJDJEF UPVSJTN JO 4XJU[FSMBOE NBZ JOEFFE SFTVMU JO UIF BNFOENFOU PS TVQQMFNFOUBSZ HVJEFMJOFT UP FYJTUJOH SFHVMBUJPOT JO GPSFJHO DPVOUSJFTu 1BTTJWF BTTJTUFE TVJDJEF IBT CFFO MFHBM IFSF TJODF )PXFWFS UIF JOEJWJEVBM IBT UP CF PG TPVOE NJOE XIJMF UIPTF IFMQJOH NVTU OPU CF NPUJ WBUFE CZ TFMG JOUFSFTU PS GJOBODJBM HBJO "DUJWF FVUIBOBTJB SFNBJOT JMMFHBM CVU MFUIBM ESVHT NBZ CF QSFTDSJCFE BT MPOH BT UIF SFDJQJFOU UBLFT BO BDUJWF SPMF "DDPSEJOH UP UIF TUVEZ NPTU QBUJFOUT EJFE CZ JOHFTUJOH TPEJVN QFOUPCBSCJ UBM XIJMF GPVS JOIBMFE IFMJVN " SFGFSFOEVN DBMMFE CZ QSP MJGF PQQPOFOUT PG BTTJTUFE TVJDJEF JO UIF $BOUPO PG ;VSJDI XBT PWFSXIFMNJOHMZ SFKFDUFE CZ PG WPUFST BOE UIF JOJUJB UJWF UP PVUMBX JU GPS GPSFJHOFST XBT

3DPHOD 7D\ORU SDPHOD#OHQHZV FK

WWW.BASSETMOTOS.CH

!

THE WHOLE RANGE

OF DUKE TEST WITH US

)URQW SDJH 6KRS WLOO WKH VWDII GURS

1DWLRQDO QHZV 0LOLWDU\ REVHUYHUV WR :HVWHUQ 6DKDUD

5HIOHFWLRQV 6ZLVV VWUXJJOHV ZLWK 5XVVLDQ VDQFWLRQV DQG QHXWUDOLW\

rue Puiserande 7 - Jonction - Geneva

/LNH XV RQ )DFHERRN IROORZ XV RQ 7ZLWWHU DQG JHW RXU RQOLQH DUWLFOHV DV WKH\ DUH SRVWHG

UVSOFE EPXO CZ #VU 4XJTT MBX SFNBJOT VODMFBS 4PNF HSPVQT TVDI BT &YJU XIJDI POMZ IFMQT 4XJTT SFTJEFOUT IBWF BMTP BHSFFE UP BTTJTU QFPQMF PWFS UIF BHF PG XIP BSF OPU UFSNJOBMMZ JMM -BTU ZFBS UIF &VSPQFBO $PVSU PG )VNBO 3JHIUT DBMMFE PO #FSO UP DMBSJGZ JUT HVJEFMJOFT BGUFS BO BJMJOH PDUPHFOBS JBO GBJMFE UP DPOWJODF EPDUPST UIBU TIF TIPVME CF BMMPXFE UP EJF #SJUBJO T 4VJDJEF "DU NBLFT JU BO PGGFODF m VQ UP ZFBST JO QSJTPO JO &OHMBOE BOE 8BMFT m UP BTTJTU PS FODPVSBHF TVJDJEF *O UIF 6, $PNNJTTJPO PO "TTJTUFE %ZJOH BMTP LOPXO BT UIF 'BMDPOFS $PNNJTTJPO QVTIFE GPS B OFX SFHVMBUPSZ MBX XIJMF 4DPUMBOE QVU GPSXBSE JUT PXO CJMM MBTU /PWFNCFS *O (FSNBOZ XIFSF FVUIB OBTJB JT JMMFHBM $IBODFMMPS "OHFMB .FSLFM JT TFFLJOH B OBUJPOBM EJTDVTTJPO 5IF (FSNBO .FEJDBM "TTPDJBUJPO IPXFWFS XBOUT UP QSPIJCJU CPUI FVUIB OBTJB BOE BTTJTUFE TVJDJEF

022 329 10 10

FROM CHF 5’590.-


/( 1(:6 $XJXVW 6HSWHPEHU

5HJLRQDO

1PPS 7PMUBJSF B TQFMMJOH OJHIUNBSF

SWISS NEWS IN ENGLISH

(GLWRUłV FRPPHQW

" NPSF DPNNVOBM TUBODF GPS IVNBOJUZ

)(51(< 92/7$,5( 'SBOÉPJT .BSJF "SPVFU PUIFS XJTF LOPXO BT 7PMUBJSF UIF SFOPXOFE UI DFOUVSZ 'SFODI FOMJHIUFONFOU BVUIPS BOE QIJMBOUISPQJTU XIP MJWFE KVTU BDSPTT UIF 'SFODI CPSEFS JO 'FSOFZ TIPVME CF UVSOJOH JO IJT HSBWF PS BU MFBTU TFFLJOH SFGVHF JO OFJHICPVSJOH (FOFWB PVU PG FNCBSBTTNFOU m EFTQJUF UIF SFTJEFOU HIPTU PG GFMMPX QIJMPTPQIFS BOE BSDI SJWBM +FBO +BDRVFT 3PVTTFBV 5IF SFBTPO "T SFQPSUFE CZ UIF /*"#(À5 # À,À OFXTQB QFS FJUIFS UIF MPDBM DPVODJM JO 'FSOFZ 7PMUBJSF UIF 'SFODI GSPOUJFS UPXO OBNFE BGUFS UIF

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e7(/ %SJWFST BSF OPX CFJOH DIFDLFE NPSF UIBO SFNBJO TNBMM GPS 4XJU[FSMBOE FWFS CFGPSF GPS TQFFE SBDJOH MJHIUT BOE ESJOLJOH 5IF OVNCFS m BO FTUJNBUFE m PG TQFFE TZTUFNT BDSPTT 4XJU[FSMBOE IBT JODSFBTFE CZ UP SFTJEFOUT BSF CFMJFWFE UP IBWF TJODF 5IJT JODMVEFT B SJTF JO UIF OVNCFS PG USBGGJD IFBEFE PGG UP 4ZSJB BOE *SBR MJHIUT CFJOH NPOJUPSFE "OE JNCJCJOH ESJWFST OFFE UP CF FWFO UP GJHIU m UIJT JT B EFWFMPQ NPSF XPSSJFE 5IF OVNCFS PG BMDPIPM NPOJUPST SPTF UP NFOU UIBU DBOOPU CF JHOPSFE *O 'SBODF BMDPIPM DIFDLT BSF BMTP PO UIF SJTF XJUI HFO *U JT BMTP BO JTTVF UIBU OFFET EBSNFT UFTUJOH PWFS NJMMJPO ESJWFST JO UP CF EJTDVTTFE JO TDIPPMT *O OFBSMZ ESJWFST XFSF DIBSHFE XJUI FYDFT XIFSF TVDI SBEJDBMJ[BUJPO TJWF TQFFEJOH 0G UIFTF JOGSBDUJPOT XFSF JO CVJMU VQ CFHJOT BSFBT XJUI CFJOH PO NPUPSXBZT /PU BMM BSF KJIBEJTUT 4PNF IBWF KPJOFE QSP $ISJTUJBO HSPVQT #VU XF SF OPU UBMLJOH BCPVU JEFBMJTUJD 4QBOJTI $JWJM 8BS WPMVOUFFST 8IBU *(1(9$ %FNPDSBUT BOE NBLFT FWFSZUIJOH TP WPMBUJMF JT UIFJS OFFE UP SFTPMWF JTTVFT XJUI 3FQVCMJDBUJPOT "CSPBE UXP TIFFS CSVUBMJUZ BU UIF FOE PG B HVO PS CZ CFIFBEJOH PS DSVDJGZJOH OPO QSPGJU PSHBOJ[BUJPOT SFQ BOZPOF XIP UIJOLT EJGGFSFOUMZ SFTFOUJOH 64 DJUJ[FOT BSF &WFO UIPVHI NBOZ GPSFJHO KJIBEJTUT BSF CFJOH m PS XJMM CF m QVTIJOH IBSE PWFS UIF OFYU GFX LJMMFE JU JT MJLFMZ UIBU TPNF XJMM POF EBZ SFUVSO IPNF UPHFUIFS XFFLT GPS FYQBU "NFSJDBOT UP SFHJTUFS GPS UIF OFYU QSFTJEFO XJUI UIFJS SBEJDBMJTN 5IJT IBQQFOFE CFGPSF XIFO NJMJUBOUT UJBM FMFDUJPO 8IJMF TPNF JODMVEJOH 0TBNB CJO -BEFO BT XFMM BT &VSPQFBO BOE "NFSJDBO TUBUFT SFUBJO QFSNBOFOU PWFS DPOWFSUT IFBEFE PGG UP "GHIBOJTUBO JO TFBSDI PG KJIBE BOE TFBT SFHJTUSBUJPO NPTU SFRVJSF CSPVHIU UIF DPODFQU PG UIF i/FX *TMBNJD .BOu UIFJS DJUJ[FOT UP SF SFHJTUFS *G TVDI FYUSFNJTN JT UP CF UIXBSUFE 4XJU[FSMBOE T FWFSZ UJNF SFMJHJPVT DPNNVOJUJFT OFFE UP CF NPSF BTTFSUJWF 5IJT %FNPDSBUT "CSPBE JODMVEFT UIF JOGMVFOUJBM *TMBNJD $FOUSF PG (FOFWB XIJDI OFFET UP DPOEFNO m DMFBSMZ BOE MPVEMZ m BUSPDJUJFT DPNNJUUFE 4XJU[FSMBOE JT IPMEJOH JOGPS NBM FWFOUT JO (FOFWB BOE JO UIF OBNF PG *TMBN *O UIF TBNF NBOOFS 4XJU[FSMBOE T +FXJTI DPNNVOJUZ OFFET UP CF GBS NPSF DSJUJDBM PG BCVTJWF *TSBFMJ NJMJUBSZ BDUJPOT BHBJOTU DJWJMJBOT JO (B[B PS UIF CVJMEJOH PG JMMFHBM TFUUMFNFOUT BMM PG XIJDI DPOUSJCVUF UPXBSE JODSFBTFE SBEJDBMJ[BUJPO #VU XIZ OPU B KPJOU BQQSPBDI CZ BMM PG 4XJU[FSMBOE T SFMJHJPVT DPNNVOJUJFT DPOEFNOJOH XIBU JT VOBDDFQUBCMF BOE DPOEPOJOH XIBU BDUVBMMZ DPOUSJCVUFT UP UIF CFUUFSNFOU PG /H 1HZV ,661 7LUDJH LPSULPÒ H[HPSODLUHV IVNBOJUZ XIJDI BGUFS BMM JT XIBU 4XJU[FSMBOE TVQQPTFEMZ /HFWRUDW HVWLPÒ OHFWHXUV SFQSFTFOUT 3DUXWLRQ XQ MHXGL VXU GHX[ 5ÒGDFWHXU HQ FKHI (GZDUG *LUDUGHW ,PSUHVVLRQ &HQWUH GłLPSUHVVLRQ

%JE ZPV LOPX

SWISS NEWS IN ENGLISH

(GZDUG *LUDUGHW HGLWRU#OHQHZV FK

/DXVDQQH

Ń/RYH WUXWK EXW SDUGRQ HUURUń 9ROWDLUH

HSFBU XSJUFS PS POF PG JUT DPO USBDUPST FSFDUFE TJY 7PMUBJSF RVPUBUJPOT JO CSPO[F JO B QVC MJD QBSL UP JOTQJSF WJTJUPST

7KH RQO\ SUREOHP ZDV WKDW ILYH RI WKH TXRWDWLRQV KDG PLVWDNHV ŋ HLWKHU LQFRUUHFW VSHOOLQJV RU V\QWD[

1SFUUZ EVCJPVT GPS B DPVO USZ UIBU IPMET JUT WFSTJPO PG " 5 7 .), JO UIF GPSN PG BO BOOVBM BOE IJHIMZ SFWFSFE OBUJPOXJEF EJDUBUJPO DPNQFUJ UJPO "OE UP IBQQFO POMZ EBZT CFGPSF 'SFODI LJET XIP BSF BMM PCMJHFE UP SFBE 7PMUBJSF SFUVSO UP TDIPPM 4UJMM BT 'SBODF T QSF FNJOFOU XSJUFS BOE GBNFE QIJ MPTPQIFS JT PGU RVPUFE BT TBZ JOH i-PWF USVUI CVU QBSEPO FSSPSu /H 1HZV

"NFSJDBOT m QVTIFE UP WPUF ;VSJDI UP FOUJDF DJUJ[FOT UP SFH JTUFS PWFS DPDLUBJMT 5IF TBNF HPFT GPS UIF 3FQVCMJDBOT 3FHBSEMFTT PG XIFUIFS SFTJEFOU JO 4XJU[FSMBOE PS 'SBODF BOZ DJUJ[FO DBO SFHJTUFS POMJOF PS JO QFSTPO XJUI BOZ HSPVQ BOE BU BOZ FWFOU 8JUI UISFF UP GJWF NJMMJPO PWFSTFBT "NFSJDBOT m UIFSF BSF OP BDDVSBUF GJHVSFT m 64 FYQBUT SFQSFTFOU BO JODSFBTJOHMZ DSV DJBM DPOTUJUVFODZ UIBU DPVME FBTJMZ TXBZ UIF FMFDUJPO QBS UJDVMBSMZ JO TUBUFT XIFSF QSFWJ PVT NBSHJOT IBWF CFFO EFDJEFE CZ BT GFX BT TFWFSBM IVOESFE WPUFT %FTQJUF HSPXJOH OVNCFST PG DJUJ[FOT m PWFS JO

NBOZ JO 4XJU[FSMBOE m SFOPVODJOH UIFJS 64 OBUJPOBM JUZ PWFSTFBT "NFSJDBOT SFQSF TFOU B WPUF UIBU OFJUIFS QBSUZ DBO BGGPSE UP OFHMFDU &WFO JG SFMVDUBOUMZ QPMJUJDJBOT BSF SFBMJ[JOH UIBU PWFSTFBT WPUFT DBO XJO PS MPTF BO FMFDUJPO /H 1HZV

,035(6680 'LUHFWHXU HQ FKDUJH GH OD SXEOLFLWÒ 'DQLHO $KOHUV 5ÒJLHV SXEOLFLWDLUHV 631 6$ 3XEOLFLWDV 6$ %DE &RQVXOWLQJ *OREDO 6ROXWLRQV 6¿UO 6ZLVV 0HGLD 3UHVV ) (GLWÒ SDU /H 1HZV 6¿UO &RQWDFW KWWS OHQHZV FK FRQWDFW /H 1HZV 6¿UO :7& $YH *UDWWD 3DLOOH /DXVDQQH &ODVVLILHGV KWWS OHQHZV FK FODVVLILHGV 'LVWULEXWLRQ KWWS OHQHZV FK KRZ WR JHW (GLWHXU -HUHP\ 0F7HDJXH

'LUHFWHXUV -HUHP\ 0F7HDJXH 'DQLHO $KOHUV 3KLOOLS -XGG 0LVH HQ SDJH 631 6$ 'ÒSDUWHPHQW 3UÒ3UHVVH ŕ 7RXV OHV GURLWV VRQW UÒVHUYÒV


$XJXVW 6HSWHPEHU /( 1(:6

1DWLRQDO

#BTFM 1VCMJD USBOTQPSU XJUI WJTJPO %$6(/ $PRQJ (XURSHDQ FLWLHV VXFK DV +HOVLQNL &RSHQKDJHQ DQG )UHLEXUJ 6ZLW]HUODQGÅ‚V QRUWK HDVWHUQ FLW\ RI %DVHO UDQNV DV KDYLQJ RQH RI WKH FRQWLQHQWÅ‚V PRVW YLVLRQDU\ DSSURDFKHV WR SXEOLF WUDQVSRUW ,W LV RQH WKDW WKH /DNH *HQHYD UHJLRQ ZRXOG GR ZHOO WR KHHG LI LW LV WR GHDO ZLWK ULVLQJ FDU WUDIILF LQ D PRUH LPDJLQDWLYH DQG HQYLURQPHQWDOO\ IULHQGO\ PDQQHU %FTQJUF TJHOJGJDBOU FYQBOTJPO PG UIFJS QVCMJD USBOTQPSU OFUXPSLT JO SFDFOU ZFBST UIF DBOUPOT PG (FOFWB BOE 7BVE XIJDI UPHFUIFS XJUI OFJHICPVSJOH 'SBODF DPOTUJUVUF UIF OFBSMZ LN i(SFBUFS (FOFWBu BSFB TUJMM IBWF GBS UP HP JO DPNQBSJTPO "T UIF ,# /( 5 5 (¿0 SFDFOUMZ SFQPSUFE (FOFWPJT EJE OPU IFMQ UIFNTFMWFT CZ NZPQJDBMMZ WPUJOH JO UIF .BZ SFGFSFOEVN BHBJOTU UIF GVOEJOH PG UISFF 1 3 DBS QBSLT UP SFEVDF GSPOUBM JFS NPUPS USBGGJD 5SBGGJD KBNT QSJNBSJMZ DPNNVUFS CBTFE BMPOH UIF BVUPSPVUFT IBWF XPSTFOFE TJHOJGJDBOUMZ XIJMF DPO HFTUJPO PO GFFEFS SPVUFT GSPN UIF 'SFODI TJEF IBT JODSFBTFE CZ PWFS UIF QBTU GJWF ZFBST #BTFM PO UIF PUIFS IBOE EPFT OPU TFFN UP IBWF BOZ DPODFSOT BCPVU JUT

GSPOUBMJFST *U WFSZ NVDI DPOTJE FST UIFN BT QBSU PG UIF PWFSBMM WJTJPO CZ NBLJOH GVOEJOH BWBJMBCMF UPXBSET JNQSPWJOH DSPTT CPSEFS QBSLJOH *U BMTP WJHPSPVTMZ JODPSQPSBUFT UIF 'SFODI BOE (FSNBO CPSEFS [POFT m BT XFMM BT GPVS 4XJTT DBOUPOT m BT QBSU PG JUT i(SFBUFS #BTFMu WJTJPO B SFHJPO TJNJMBS JO TJ[F UP i(SFBUFS (FOFWBu #BTFM XBT UIF GJSTU UP JODPSQPSBUF TJNQMF SFHJPOBM UJDLFUJOH GPS JUT USBJOT USBNT BOE CVTFT i5PEBZ JU NBLFT BCTPMVUFMZ OP TFOTF UP ESJWF JOUP #BTFM XIFO ZPV DBO UBLF UIF USBN u TBJE %JFUFS .BOHFS B 4XJTT QJMPU MJWJOH PO UIF PVUTLJSUT PG UIF DJUZ 8IJMF (FOFWB XIJDI GJSTU JOUSP EVDFE IPSTF ESBXO USBNT JO NBZ IBWF FOKPZFE &VSPQF T MBSHFTU OFUXPSL

%DVHO 7UDQVSRUW 6HUYLFH KDG PLOOLRQ XVHUV LQ

CZ UIF T JU UIFO WJSUVBMMZ BCBO EPOFE JU CZ 5PEBZ JU JT #BTFM UIBU JT TUBOEJOH PVU BT UIF FYBNQMF UP GPMMPX 8JUI B QIJMPTPQIZ UIBU IBT TPVHIU UP QSPNPUF UIF CFTU GPSN PG USBOTQPSU GPS JUT QPQVMBUJPO FWFS TJODF UIF #BTMFS 7FSLFIST #FUSJFCF #7# PS #BTFM 5SBOTQPSU 4FSWJDF XBT DSFBUFE ZFBST BHP JUT HSFFO USBNT BOE CVTFT IBWF CFDPNF GJSNMZ QBSU PG UIF DJUZ T USBEJUJPOBM MBOETDBQF

/PU POMZ JT UIF #7# IJHIMZ QPQVMBS XJUI NPSF UIBO NJMMJPO VTFST JO CVU JU JT NPWJOH GJSNMZ BIFBE XJUI QMBOT UP VTF FWFO NPSF NPEFSO USBNT BOE CVTFT BT QBSU PG JUT LN OFUXPSL *U HVBSBOUFFT B CVT PS USBN FWFSZ NJOVUFT EBZT B ZFBS i8F XBOU UP QFSTVBEF QFPQMF UIBU JU JT GBS NPSF FOKPZBCMF BOE QSBDUJDBM UP UBLF UIF USBN PS CVT u TBJE B #7# PGGJDJBM (GZDUG *LUDUGHW

"EJFV UP 'SFODI DMBTTFT

4NPLJOH SFTUSJDUJPOT

7+85*$8 " DPOUSPWFSTJBM NPUJPO QBTTFE CZ UIF OPSUI FBTUFSO DBOUPO PG 5IVSHBV IBT BCPMJTIFE 'SFODI DMBTTFT JO QSJNBSZ TDIPPM GBWPVSJOH UIF UFBDI JOH PG &OHMJTI XIJDI TUBSUT BT FBSMZ BT :FBS 5ISFF $POTJEFSFE CZ NBOZ BT BO BGGSPOU UP 'SFODI UIF 'FEFSBM HPWFSO NFOU IBT USJFE JO WBJO UP CMPDL UIF NPUJPO XIJDI JT XJEFMZ TVQQPSUFE CZ UIF 6%$ 6%' BOE UIF &WBOHFMJDBM QBS UJFT *O TUBSL PQQPTJUJPO UP 5IVSHBV T (SBOE $PVODJM XIJDI QBTTFE UIF NPUJPO CZ WPUFT UP UIF 4PDJBMJTU 1BSUZ IBT EFOPVODFE UIF DPOUSPWFSTJBM NPWF DMBJNJOH UIBU B TJNJMBS 6%$ CBDLFE QSPQPTBM IBE BMSFBEZ CFFO SFKFDUFE CZ UIF DBOUPO T WPUFST JO /PU POMZ EPFT UIF EFDJTJPO SFMFHBUF 'SFODI UP TFDPOEBSZ TDIPPM MFWFM GVS UIFS KFPQBSEJ[JOH OBUJPOBM VOJUZ CZ SFKFDUJOH DPOTUJUVUJPOBM BOE FEVDB UJPOBM DPOTFOTVTFT JU BMTP TFUT B EBO HFSPVT QSFDFEFOU 4JNJMBS DBTFT JO /JEXBMEFO (SBVCÛOEFO BOE 4DIBGGIBVTFO XIFSF JOJUJBUJWFT IBWF CFFO QVU JOUP QMBDF UP BCPMJTI POF PG UIF UXP GPSFJHO MBOHVBHFT UBVHIU JO QSJ NBSZ TDIPPMT IBWF QSPWPLFE DPODFSO JO #FSO "DDPSEJOH UP UIPTF CBDLJOH UIF NPWFNFOU UIF SBUJPOBMF JT UP MJHIUFO UIF XPSL MPBE PG QVQJMT EFTQJUF UIF GBDU UIBU UIF MFBSOJOH PG MBOHVBHFT JT CFTU CFHVO BU B ZPVOH BHF /PU UP NFOUJPO

.VDI UP UIF JSSJUBUJPO PG UIF UPCBDDP JOEVTUSZ JODMVEJOH DPSQPSBUF HJBOUT TVDI BT 1IJMJQ .PSSJT JO 4XJU[FSMBOE UIF 8PSME )FBMUI 0SHBOJ[BUJPO JT EFNBOEJOH UIBU HPWFSONFOUT CBO FMFDUSPOJD DJHBSFUUFT JOEPPST *U BMTP XBOUT DVSCT PO BEWFSUJTJOH BOE PUIFS UBDUJDT UIBU MVSF ZPVOH QFPQMF *O B SFQPSU JTTVFE UIJT XFFL UIF 6/ PSHBOJ[BUJPO NBJOUBJOT UIBU OPU FOPVHI JT LOPXO BCPVU F DJHBSFUUFT BOE IFODF TIPVME CF QSPIJCJUFE iVOUJM FYIBMFE WBQPVS JT QSPWFO UP CF OPU IBSNGVM UP CZTUBOEFSTu (JWFO UIFJS HSPXJOH VTF BNPOH NJOPST NBOZ PG XIPN DPOTJEFS iF DJHTu IBSNMFTT 8)0 SFDPNNFOET UIBU OJDPUJOF EPTFT CF TUBOEBSEJ[FE BOE UIBU GSVJU PS TXFFU GMBWPVSFE WFSTJPOT CF CBOOFE .BOVGBDUVSFST DVSSFOUMZ NBJOUBJO UIBU F DJHBSFUUFT BSF TBGFS UIBO UPCBDDP BT UIFZ EP OPU DPOUBJO DBSDJOPHFOT 4PNFXIBU JOFYQMJDBCMZ 1IJMJQ .PSSJT BMTP TBZT UIF 8)0 QPTJUJPO FYDMVEFT UIFN GSPN UIF iEFNPDSBUJD QSPDFTT u 8)0 XBOUT DSBDLEPXOT PO QSBD UJTFT UIBU BUUSBDU ZPVOH QFPQMF XIJDI UIF 8PSME .FEJDBM "TTPDJBUJPO EFTDSJCFT BT iTJDLFOJOHu BOE iQSFEB UPSZ u 5IF JOEVTUSZ IBT DPOTJTUFOUMZ VTFE RVFTUJPOBCMF BQQSPBDIFT QBS UJDVMBSMZ JO FBTUFSO &VSPQF BOE "TJB GPS FODPVSBHJOH USBEJUJPOBM VTF 0CTFSWFST

7KXUJDX RXW RI WRXFK DW WKH RWKHU H[WUHPH"

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

7REDFFR FRPSDQLHV DUH VWLOO EHLQJ DFFXVHG RI WDUJHWWLQJ WKH \RXQJ

OPUF UIBU JO 4XJU[FSMBOE DPNQBOJFT IBOE PVU GSFF DJHBSFUUFT BU QPQ DPO DFSUT BOE PUIFS FWFOUT 4PNF 4XJTT QPMJUJDJBOT IBWF FYQSFTTFE DPODFSO UIBU UPCBDDP MPC CJFT BSF QSFTTVSJOH #FSO OPU UP CBO TNPLJOH JO QVCMJD QMBDFT BT JO OFJHI CPVSJOH 'SBODF *OUFSFTUJOHMZ 8)0 TUBGG IBWF SFDFJWFE NVDI IBUF NBJM BOE DBMMT XIJDI POF NBJOUBJOFE BSF FODPVSBHFE CZ UIF UPCBDDP JOEVTUSZ /H 1HZV


/( 1(:6 $XJXVW 6HSWHPEHU

%XVLQHVV (FRQRP\

(FOFWB TUBSU VQ DMFBOT VQ 6HUYLFH$W+RPH FRP D VWDUW XS EDVHG LQ *HQHYD LV FDXVLQJ D VWLU ZLWK LWV VWURQJ JURZWK DQG PDUNHW SRWHQWLDO &TUBCMJTIFE JO 0DUPCFS UIF DPN QBOZ IFMQT QFPQMF GJOE BOE IJSF USVTU XPSUIZ IPNF TFSWJDF QSPWJEFST TVDI BT DMFBOFST BOE CBCZTJUUFST POMJOF 6TFST CPPL BOE QBZ GPS TFSWJDFT POMJOF *O VOEFS B ZFBS UIF DPNQBOZ IBT SFHJT UFSFE BO JNQSFTTJWF TFSWJDF QSP WJEFST JO UIF SFHJPO $P GPVOEFS -JOEZ $MBJSF "CJUUBO IBE UIF JEFB XIFO XPSLJOH GVMM UJNF BT BO BVEJUPS i* SFBMMZ OFFEFE IFMQ BU IPNF BOE XBT TQFOEJOH UPP NVDI UJNF USZJOH UP BSSBOHF TFSWJDFT UIBU XFSF TVQQPTFE UP TBWF NF UJNF u 4IF BOE IFS DP GPVOEFS SFBMJ[FE UIBU UIF EPNFTUJD TFSWJDFT JOEVTUSZ IBE OPU FWPMWFE JO EFDBEFT BOE XBT SJQF GPS SFWPMVUJPO m TP 4FSWJDF"U)PNF JT BWBJM BCMF IPVST B EBZ TFWFO EBZT B XFFL *UT 641 JT JUT BVUIFOUJD SFWJFX TZTUFN i0OMZ SFHJTUFSFE DMJFOUT BSF BCMF UP XSJUF

3LFWHW XQYHLOHG (FOFWB CBTFE QSJWBUF CBOL 1JDUFU IBT GPS UIF GJSTU UJNF JO JUT ZFBS IJTUPSZ QVCMJTIFE JUT GJOBODJBM SFTVMUT 5IF NPWF UP USBOTQBSFODZ JT B SFTVMU PG UIF 4XJTT HSPVQ T SF TUSVDUVSJOH BOE USBOTGPSNB UJPO JOUP B 4PDJÊUÊ "OPOZNF m UIF FRVJWBMFOU PG B 6, QVCMJD MJNJUFE DPN QBOZ PS 64 QVCMJD USBEFE DPNQBOZ 5IF CBOL SFQPSUT UIBU JU IBT $)' CJMMJPO VOEFS NBOBHFNFOU VQ $)' CJMMJPO TJODF UIF TUBSU PG UIF ZFBS BOE UIBU JU HFOFSBUFE SFWFOVFT PG $)' NJMMJPO FBSOJOH B OFU QSPGJU PG $)' NJMMJPO GPS UIF GJSTU IBMG PG UIF ZFBS 5P QVU UIJT JOUP DPOUFYU $SFEJU 4VJTTF IBT $)' CJMMJPO VOEFS NBOBHFNFOU

6ZLVV \RXWK HPSOR\PHQW EHWWHU WKDQ LQ (8 SFWJFXT PG QSPWJEFST 5IJT MFWFM PG USBOT QBSFODZ HJWFT DMJFOUT DPOGJEFODF JO UIF SFMJBCJMJUZ PG FBDI QSPWJEFS u 5IF DPNQBOZ UBLFT B QFSDFOUBHF PG UIF GFFT QBJE CZ DMJFOUT BOE DVSSFOUMZ IBT OP DPNQFUJUPST JO UIF DPVOUSZ *U JT

DVSSFOUMZ FYQBOEJOH JO UIF SFHJPO JODMVEJOH OFJHICPVSJOH 'SBODF BOE UIF PXOFST IBWF QMBOT UP HSPX JU OBUJPOBMMZ BOE JOUFSOBUJPOBMMZ

"DDPSEJOH UP B OFX ZPVUI FNQMPZ NFOU JOEFY 4XJTT ZPVUI JT GBSJOH CFU UFS UIBO JUT &6 DPVOUFSQBSU 5IF JOEFY DPNQSJTJOH GPVS LFZ FNQMPZNFOU JOEJDBUPST HJWFT 4XJU[FSMBOE QPJOUT BHBJOTU BO &6 BWFSBHF PG

/H 1HZV

,QVLJKW

#BDL UP TDIPPM BSF ZPVS DIJMESFO FYDJUFE PS ESFBEJOH JU 4VNNFS JT BMNPTU PWFS BOE IFBEJOH CBDL UP TDIPPM JT m GPS TPNF m BO FYDJU JOH QFSJPE UP DBUDI VQ XJUI GSJFOET PS HFU CBDL JOUP B GBNJMJBS SPVUJOF 'PS PUIFST JU XJMM CF B UJNF PG BOYJFUZ CFDBVTF UIFZ LOPX UIBU UIF CVMMZJOH XJMM TUBSU BHBJO 4IPDLJOH BT JU NBZ TPVOE CFUXFFO BOE PG TUVEFOUT IBWF FYQFSJ FODFE CVMMZJOH BU TPNF QPJOU 5IF GJH VSFT WBSZ BDDPSEJOH UP XIBU JT UBLFO JOUP BDDPVOU TVDI BT WFSCBM BCVTF EFSPHBUPSZ OJDLOBNFT QIZTJDBM WJP MFODF CFJOH JHOPSFE TFYVBM BTTBVMUT JODMVEJOH CFJOH XBUDIFE JO UIF MPP PS IBWJOH USPVTFST QVMMFE EPXO #FJOH CVMMJFE JT B MPOFMZ FYQFSJFODF *U JT BMTP FYUSFNFMZ EFUSJNFOUBM UP TUV EFOUT TFMG FTUFFN 5IFZ UFOE UP XJUI ESBX XJUIJO UIFNTFMWFT BOE UIFJS CFIBWJPVS BU IPNF NBZ DIBOHF GPS UIF XPSTF 5IF NPTU WVMOFSBCMF BSF UIPTF XIP BSF FNPUJPOBMMZ GSBHJMF XIP EP OPU IBWF B TUSPOH OFUXPSL PG GSJFOET BOE GBNJMZ PS XIP BSF OPU FRVJQQFE UP EFBM XJUI BEWFSTF TPDJBM TJUVBUJPOT

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

PS FWFO B MPOH ESJWF XIFO UIFSF JT OP EJSFDU FZF DPOUBDU *G NFU XJUI TJMFODF HFU JO UPVDI XJUI IJT PS IFS UFBDIFST 3BJTF ZPVS DPODFSOT BOE EPO U HJWF VQ VOUJM ZPV BSF TBUJTGJFE TPNFUIJOH IBT CFFO EPOF .PTU TDIPPMT IBWF BOUJ CVMMZJOH QPMJDJFT 5IFZ VTVBMMZ JOWPMWF B DIBJO PG DPNNVOJDBUJPO GSPN UFBDIFS UP UIF QSJODJQBM "MPOH UIF XBZ TPNFPOF XJMM CF FYQFDUFE UP IFBS UIF DPNQMBJOJOH TUV EFOU PVU BOE UIFO JOUFSWJFX BDDVTFE QBSUJFT #FZPOE UIBU TBODUJPOT NBZ CF UBLFO BHBJOTU UIF CVMMJFT EFQFOEJOH PO UIF HSBWJUZ PG UIF BDDVTBUJPO 5IF TDIPPM T SFTQPOTJCJMJUZ JT UP DBNQBJHO BHBJOTU CVMMZJOH BOE QFFS QSFTTVSF BT UIPTF XIP TUBOE CZ PS KPJO JO BSF KVTU BT HVJMUZ 4BODUJPOT PS TJOHMF FWFOUT TVDI BT BOUJ CVMMZJOH EBZT BSF OPU FOPVHI 5PMFSBODF TFMG DPOGJEFODF BOE SFTQFDU TIPVME CF JOHSBJOFE JO FWFSZ BTQFDU PG UIF DVSSJDVMVN 8IJMF UBMLJOH BCPVU UIF BCVTF JT UIF CFTU XBZ UP GJOE B TPMVUJPO FWFSZ POF LOPXT JU JTO U FBTZ GPS B WJDUJN UP

PQFO VQ 1BSFOUT DBO DSFBUF BO PQFO UPMFSBOU BOE DBSJOH IPNF FOWJSPONFOU XIFSF FWFSZ NFNCFS PG UIF GBNJMZ UBMLT SFBEJMZ BCPVU UIF QSPCMFNT UIFZ FODPVOUFS JO UIFJS EBJMZ MJGF BOE IPX UIFZ TPMWF UIFN -FBE CZ FYBNQMF BOE TIBSF ZPVS GFFMJOHT 0QFOJOH VQ UBLFT UJNF TP JG QBSFOUT NBLF JU DMFBS UIFZ EPO U IBWF BOZ DIJMESFO XJMM KVTU DMBN VQ 'PS CVM MJFT BOE CVMMJFE 4FQUFNCFS JT B UJNF PG IJHI FNPUJPOT FTQFDJBMMZ GPS UIPTF KPJOJOH B OFX TDIPPM PS HSPVQ 1BSFOUT BOE UFBDIFST DBO XPSL UPHFUIFS UP NJOJNJTF UIF TUSFTT UIFTF DIBOHFT DBO DBVTF TP UIBU UIF iSFOUSÊFu JT BT IBQQZ B UJNF BT JU DBO BOE TIPVME CF 6DELQH +XWFKHVRQ LV $FDGHPLF 'LUHFWRU DQG (GXFDWLRQDO &RQVXOWDQW DW 7XWRUV3OXV


Online trading with an international perspective

Take your investments in your own hands • A Swiss regulated bank • Specialized in online trading since 1998 • More than 170 000 customers across Europe • Highly recommended in client satisfaction surveys • Selected ‘Best offer’ in independent comparisons

More info : 0800 15 30 30

www.strateo.ch


/( 1(:6 $XJXVW 6HSWHPEHU

&KH] 9RXV

1SPQFSUZ CVZFST IVSSZ UP EJQ JOUP UIFJS QFOTJPOT .PSF BOE NPSF QFPQMF BSF SVTIJOH UP VTF UIF TFDPOE QJMMBS PG UIFJS QFOTJPO QMBO UP QVSDIBTF B QSJNBSZ SFTJEFODF JO UIF GBDF PG IJHI QSJDFT BOE MJNJUFE IPVTJOH TUPDL 8IJMF UIJT NBZ HJWF B CPPTU UP UIF FDPOPNZ FTQFDJBMMZ UIF QSPQFSUZ NBSLFU OPU FWFSZPOF JT IBQQZ XJUI UIF USFOE 5IFSF BSF UISFF QJMMBST UP UIF 4XJTT TPDJBM TFDVSJUZ TZTUFN 5IF GJSTU JT UIF CBTJD NBOEBUPSZ JOTVSBODF GPS BMM 4XJTT SFTJEFOUT UIF TFDPOE JT BO PDDV QBUJPOBM QFOTJPO QMBO CBTFE PO FNQMPZFF BOE FNQMPZFS DPOUSJCVUJPOT BOE UIF UIJSE JT B QSJWBUF JOWFTUNFOU PQUJPO 8IFO UIF TFDPOE QJMMBS JT DPN CJOFE XJUI UIF GJSTU QJMMBS B SFUJSFE QFS TPO DPVME FYQFDU UP SFDFJWF BCPVU PG UIFJS GJOBM TBMBSZ UP IFMQ NBJOUBJO UIFJS FYJTUJOH TUBOEBSE PG MJWJOH 8JUI JOUFSFTU SBUFT MPX TPNF CBOLT BSF MJNJUJOH UIF BNPVOU PG UIF TFDPOE QJMMBS UIBU NBZ CF VTFE UP QVS DIBTF QSPQFSUZ PS UPXBSET QBZJOH EPXO B NPSUHBHF 5IF $BOUPOBM #BOL PG #FSO SFQPSUFE UP -F .BUJO UIBU JU OP MPOHFS DPOTJEFST NPOFZ GSPN UIF TFD POE QJMMBS UP CF iSFBM FRVJUZu 0UIFS CBOLT NBZ CF DPODFSOFE UIBU SFBM FTUBUF JT OP MPOHFS UIF TBGF JOWFTUNFOU JU PODF XBT BOE BSF XBSOJOH DMJFOUT OPU

UP XJUIESBX GVOET GSPN UIF TFDPOE QJM MBS CVU UP VTF JU POMZ BT DPMMBUFSBM 5IF 4XJTT 'FEFSBM $PVODJM IBT GPM MPXFE UIF SFDPNNFOEBUJPOT NBEF CZ UIF 4XJTT #BOLJOH "TTPDJBUJPO 4#" SFHBSEJOH TFMG SFHVMBUJPO NFBTVSFT JNQMFNFOUFE CZ UIF CBOLT 5IJT NFBOT UIBU QSPQFSUZ CVZFST DBOOPU VTF UIFJS TFDPOE QJMMBS UP GVOE UIF FOUJSF FRVJUZ BNPVOU XIFO QVSDIBTJOH B IPNF "U MFBTU PG UIF GVOET NVTU OPX DPNF GSPN BOPUIFS TPVSDF PS UIF UIJSE QJMMBS 1PMJUJDJBOT PO UIF MFGU GFBS UIBU VTJOH UIF TFDPOE QJMMBS UP CVZ UIF QSJ NBSZ SFTJEFODF CFGPSF SFUJSFNFOU NBZ SFTVMU JO QFPQMF VTJOH VQ UIFJS QFOTJPO XJUIPVU UBLJOH TUFQT UP SFTUPSF JU MBUFS 0O UIF PUIFS IBOE QPMJUJDJBOT PO UIF SJHIU XIP BSF JO UIF NBKPSJUZ BSF GJSNMZ BHBJOTU BOZ CBO PO UIF VTF PG UIF TFDPOE QJMMBS UP GJOBODF IPNF QVS DIBTFT .FBOXIJMF QSPQFSUZ QSJDFT SFNBJO IJHI JO -BVTBOOF BOE (FOFWB DPOUJOVFT UP GBDF B TFSJPVT IPVTJOH TIPSUBHF 5IF $BOUPOBM 0GGJDF PG 4UBUJTUJDT 0$45"5 SFQPSUFE UIBU VOJUT XFSF TUBOEJOH FNQUZ JO (FOFWB JO +VOF UIJT ZFBS DPNQBSFE UP JO 0$45"5 TBJE UIJT IJHIFS OVNCFS JT NPTU MJLFMZ EVF UP B MBDL PG SFOPWBUJPO

PG IPVTJOH DPOTUSVDUFE CFGPSF "MM UPHFUIFS UIF DBOUPOT PG 'SJCPVSH 7BVE BOE (FOFWB GBDF B TIPSUBHF PG EXFMMJOHT GPS UIF OFYU NPOUIT 5IF 'FEFSBM 0GGJDF GPS .JHSBUJPO '0. SFQPSUFE UIBU BO BEEJUJPOBM JNNJHSBOUT BSSJWFE JO 4XJU[FSMBOE JO UIF GJSTU IBMG PG EVSJOH B UJNF XIFO DPOTUSVDUJPO QFS NJUT ESPQQFE CZ 0O UIF PUIFS IBOE UIFSF JT BO FYDFTT PG OFXMZ CVJMU IPNFT JO (FSNBO TQFBLJOH DFOUSBM 4XJU[FSMBOE "QQFO[FMM BOE BSPVOE $IVS 3DPHOD 7D\ORU


$XJXVW 6HSWHPEHU /( 1(:6

(GXFDWLRQ 7HFKQRORJ\

.BLJOH CFUUFS NBSLT (QWU\ UHTXLUHPHQWV WR KLJK VFKRROV FROOHJHV RI IXUWKHU HGXFDWLRQ DQG XQLYHUVLWLHV FDQ EH VWULFW &RPSHWLWLRQ LV WRXJK DQG WKH ULVN RI IDLOXUH LV D VRXUFH RI VWUHVV IRU VWXGHQWV DQG SDUHQWV DOLNH .BOZ QBSFOUT BSF NBLJOH JODSFBTFE VTF PG QSJWBUF FEVDBUJPOBM FTUBCMJTI NFOUT UP IFMQ UIFJS DIJMESFO QBTT FYBNT PS TUVEZ GPS BEEJUJPOBM RVBMJGJ DBUJPOT 5IF SFHJPO JT XFMM TFSWFE XJUI EP[FOT PG QSJWBUFMZ SVO JOTUJUVUJPOT TVDI BT ­DPMF DMVC .JHSPT ­DPMF -ÊNBOJB ­DPMF +FVODPNN BOE ­DPMF 3PDIF 5IFTF DBO IFMQ TDIPPM DIJMESFO QBTT UIFJS BOOVBM FYBNT TFDVSF QMBDFT PO BQQSFOUJDFTIJQ BOE VOJWFSTJUZ QSP HSBNNFT PS QSPWJEF MBOHVBHF USBJOJOH BOE BEVMU FEVDBUJPO 4VDI TFSWJDFT BSF OPU SFDFOU ­DPMF DMVC .JHSPT IBT CFFO BSPVOE GPS ZFBST UISPVHIPVU 4XJU[FSMBOE ­DPMF +FVODPNN GPS JO -BVTBOOF 5IF MBU

UFS USBJOT BOE UFBDIFT PWFS TUV EFOUT BOOVBMMZ -JLF BOZ HPPE TDIPPM JU PGGFST WBSZJOH DFSUJGJDBUFT BJNFE BU TUV EFOUT DPNQMFUJOH UIFJS DPNQVMTPSZ FEVDBUJPO PS BQQSFOUJDFT BOE FYFDV UJWFT TFFLJOH QSPGFTTJPOBM RVBMJGJDB UJPOT 0OF PG +FVODPNN T TQFDJBMUJFT JT JUT %JQMPNB JO #VTJOFTT 4UVEJFT GPS TUVEFOUT XIP IBWF GJOJTIFE TDIPPM "T XJUI PUIFS FTUBCMJTINFOUT JU BMTP QSPWJEFT BDBEFNJD VQHSBEJOH m LOPXO BT i ÍNF EF QFSGFDUJPOOF NFOUu m PS KPC SFBEJOFTT USBJOJOH XIJDI QSFQBSFT TUVEFOUT GPS UIF XPSL QMBDF .BOZ TDIPPMT PGGFS B XJEF SBOHF PG DPVSTFT UP BEVMUT TVDI BT BDDPVOUJOH DPNNFSDF CVTJOFTT XSJUJOH BOE TFD SFUBSJBM TFSWJDFT EJQMPNBT 4PNF UPP PSHBOJ[F TFNJOBST BJNFE BU CVTJOFTT FYFDVUJWFT BOE NBOBHFST 5IFTF BSF IFME JO QBSUOFSTIJQ XJUI JOEVTUSZ TQF DJBMJTUT TVDI BT 4"1)*3 %)4 B IPMJT UJD EFWFMPQNFOU HSPVQ BOE 4$"1&3 B IVNBO SFTPVSDFT GBDJMJUZ %FTJHOFE

Shaping their international future Apply online at: www.ecolint.ch/admissions ■ 3 campuses; students 3 to 18 years ■ Francophone, anglophone and bilingual programmes ■ Swiss maturité and IB diplomas ■ Extracurricular activities and Summer programmes

+41 (0)22 787 26 30

La Grande Boissière La Châtaigneraie

| Route de Chêne, Geneva | Founex, Vaud

Campus des Nations | Grand-Saconnex, Geneva

UP EFWFMPQ JOEJWJEVBM TUBGG DBQBCJMJ UJFT TVDI TFNJOBST BSF PGGFSFE BT QBSU PG DPSQPSBUF FEVDBUJPO QSPHSBNNFT 5IF DPVSTFT DBO IFMQ LFFQ UFBDIFST BOE GBDJMJUBUPST VQ UP EBUF XJUI DVS SFOU QSBDUJDFT JO UVSO UIFTF DBO CFOFGJU TUVEFOUT UIFNTFMWFT

#BTFE PO FNQMPZFS PS TUVEFOU OFFET NBOZ FTUBCMJTINFOUT PGGFS DPVSTFT QBSU UJNF BOE EVSJOH FWF OJOHT 4P JG ZPV PS NFNCFST PG ZPVS GBNJMZ BSF TUSVHHMJOH UBLF IFBSU )FMQ JT BWBJMBCMF UISPVHIPVU UIF SFHJPO /H 1HZV


ECOLE-CLUB

The largest adult education institute in Switzerland! • 25 different languages (wide range of French courses) • Leisure courses (painting, cooking lessons, creativity...) • Well-being courses (Fitness, Zumba, dance, yoga...)

Balexert Av. du Pailly 21 022 795 11 70 Genève-centre Rue du Prince 5 022 319 61 61 Nyon Ch. de Crève-Coeur 1 022 362 08 00

www.ecole-club.ch


$XJXVW 6HSWHPEHU /( 1(:6

/LIHVW\OH

.BHJF EV QBZTBHF SVTTF GPML PS FWFO DJUZTDBQFT 4PNF XPSLT DPWFS UIF SJDI SPNBOUJD QFSJPE CFUXFFO BOE XIJDI TBX UIF EBXO PG UIF 0DUPCFS 3FWPMVUJPO 5IFTF BSF QBJOUJOHT GVMM PG OBUJPOBMJTUJD QSJEF BOE UIF XPOEFSNFOU PG OBUVSF JO UIF IVHF DPVOUSZ UIBU XBT UIFJS CFMPWFE .PUIFS 3VTTJB (SBC UIF DIBODF UP TFF UIJT HSBOE DPM A.BHJF EV QBZTBWF 3VTTF JT BO FYIJ MFDUJPO PG 3VTTJBO NBTUFSXPSLT JO BO CJUJPO UIBU TIPVME OPU CF NJTTFE JU JT FYIJCJUJPO PG MBOETDBQF QBJOUJOHT GSPN BMTP BO PQQPSUVOJUZ GPS ZPVOH QFPQMF UP .PTDPX T (BMMFSZ BU UIF $BOUPOBM "SU FYQMPSF B EJGGFSFOU BTQFDU PG BSU BOE B .VTFVN JO -BVTBOOF UJMM UIF 0DUPCFS 3VTTJB NBOZ EP OPU LOPX 5IJT JT B USFBU GPS BENJSFST PG BMM UIJOHT 'VSUIFSNPSF UIJT JT B DIBODF UP WJTJU 3VTTJBO m XIFUIFS CBMMFU DMBTTJDBM POF PG -BLF (FOFWB T NPTU JNQSFTTJWF NVTJD PQFSB MJUFSBUVSF PS DJOFNB m GPS BSU DFOUSFT UIF .VTÊF $BOUPOBM EFT UIFZ EP UIFN XJUI TVDI GFSWPVS BOE #FBVY "SUT BU UIF 1BMBJT EF 3VNJOF JO BUUFOUJPO UP EFUBJM 1MBDF 3JQPOOF -BVTBOOF /PU POMZ BSF UIF QBJOUJOHT GBTDJOBU 'JSTU 4BUVSEBZT PG UIF NPOUI BSF JOH XJUI UIBU TPVMGVM BOE OPTUBMHJD GSFF PUIFSXJTF $)' $)' PS GSFF 3VTTJBO NPPE CVU UIFZ BMTP IBWF CFFO GPS VOEFS ZFBS PMET 'PS GVSUIFS IVOH CFBVUJGVMMZ JO CSJMMJBOUMZ DPM JOGPSNBUJPO WJTJU XXX NDCB DI PVSFE IBMMT EPOF FTQFDJBMMZ GPS UIJT DPM 1HSWXQH 5DYDU ,QJZHUVHQ MFDUJPO 5IFZ IBWF CFFO BSSBOHFE BDDPSEJOH UP UIFNFT TVDI BT UIF TFB TPOT UIF GPSFTU OPDUVSOFT QFBTBOU

0DVWHUSLHFHV IURP WKH 7UHW\DNRY 1DWLRQDO *DOOHU\ LQ 0RVFRZ 7KLV H[KLELWLRQ LV RQ DW WKH 0XVÒH &DQWRQDO GHV %HDX[ $UWV LQ /DXVDQQH XQWLO 2FWREHU

-F $PSCVTJFS PO UIF MBLF &256($8; 6OMFTT ZPV LOPX XIBU UP

20

Montreux

e

Samedi 13 sept. 2014 organisée par les vignerons de Vevey-Montreux

" irée E n s o ES VIGNERONS

LLY "CHAI Dima

F ÊT E S

nche

"LE D

tem 14 sep

VIG EJ’ DU

n Venez

O GASTR

bre 2

014

NERON

ombr

eux

"

IMAT ET A N

E NOMeIndez-vous ! au r

Vevey-Montreux Vins de Lavaux

IONS

MPPL GPS JU JT SFMBUJWFMZ FBTZ UP CZQBTT UIF 7JMMB i-F -BDu JO UIF WJMMBHF PG $PSTFBVY OFBS 7FWFZ XJUI JUT WJFXT PWFS UIF "MQT BOE -BLF (FOFWB :FU UIJT NPEFTU POF TUPSZ IPVTF XIJDI UIF HSFBU 4XJTT BSDIJ UFDU -F $PSCVTJFS CVJMU GPS IJT QBSFOUT JT BSHVBCMZ POF PG UIF LFZ QSFDVSTPST UP NPEFSO BSDIJUFDUVSF XPSMEXJEF "T 1BUSJDL .PTFS XIP DVSBUFT UIF TJUF GPS UIF "TTPDJBUJPO 7JMMB i-F -BDu MJLFT UP QVU JU UIJT JT XIFSF JU BMM CFHBO 5IF WJMMB XIJDI -F $PSCVTJFS DPN QMFUFE JO PDDVQJFT POMZ TRVBSF NFUFST CVU JU JODPSQPSBUFT XIBU XFSF UP CFDPNF -F $PSCVTJFS T HVJEJOH DPO DFQUT QBOPSBNJD XJOEPXT VOSF TUSBJOFE JOOFS TQBDF SPPG HBSEFO BOE BO BEKPJOJOH HBSEFO XJUI B XBMM UIBU GSBNFT UIF WJFX PO UIF MBLF "MUIPVHI -F $PSCVTJFS T GBUIFS EJFE B ZFBS BGUFS NPWJOH JOUP UIF WJMMB IJT NPUIFS MJWFE UIFSF VOUJM BOE IJT CSPUIFS "MCFSU +FBOOFSFU BO FYQFSJNFOUBM DPNQPTFS DPOUJOVFE UP PDDVQZ JU VOUJM "GUFS UIF GPVOEBUJPOT DSBDLFE -F $PSCVTJFS XIPTF JOTQJSBUJPOBM XPSLT DBO CF TFFO JO DPVOUSJFT GSPN *OEJB UP (FSNBOZ IBE UIF FYUFSJPS DPWFSFE XJUI HBMWBOJ[FE TUFFM TIFFUJOH "U MFBTU POF OPUBCMF WJMMBHFS JO $PSTFBVY TVHHFTUFE UFBSJOH JU EPXO *OTUFBE UIF UPXO IJSFE .PTFS BO BSU IJTUPSJBO FEJUPS BOE FYQFSU

PO NVTFVNT XIPTF QBTTJPO RVJDLMZ UVSOFE UIF TQBDF JOUP B QJMHSJNBHF TJUF GPS BSDIJUFDUVSBM GBOBUJDT i8F IBWF WJTJ UPST GSPN +BQBO u TBJE .PTFS iXIP DPNF UP 4XJU[FSMBOE POMZ UP TFF UIJT WJMMBu .PTFS XIP PSJHJOBMMZ JOUFOEFE UP XPSL GPS UIF .VTFVN PG .PEFSO "SU JO /FX :PSL CVU UPPL UIF KPC JO $PSTFBVY JOTUFBE JT DVSSFOUMZ DVSBUJOH BO FYIJCJ UJPO PO UIF XPSL PG "MCFSUP 4BSUPSJT XIP MJLF -F $PSCVTJFS XBT LOPXO GPS IJT SBEJ DBM BSDIJUFDUVSBM JEFBT -PDBUFE BU 3PVUF EF -BWBVY JO $PSTFBVY UIF WJMMB JT PQFO PO 'SJEBZT 4BUVSEBZT BOE 4VOEBZT GSPN I UP I *U XJMM DMPTF GPS SFT UPSBUJPO PO 4FQUFNCFS CVU DBO TUJMM CF TFFO CZ BQQPJOUNFOU i8F EPO U XBOU B UJNF NBDIJOF u TBJE .PTFS i8F XBOU UP TIPX -F $PSCVTJFS T UIPVHIUT u .PTFS TVDDFFET BENJSBCMZ BU UIBU BOE B WJTJU JT BO FYQFSJFODF UP MPPL GPSXBSE UP XXX WJMMBMFMBD DI :LOOLDP 'RZHOO


/( 1(:6 $XJXVW 6HSWHPEHU

/LIHVW\OH

.PSHFT -JUFSBSZ 'FTUJWBM -F MJWSF TVS MFT RVBJT i4P NBOZ HSFBU WPJDFT GMPBU JO PGG UIF DMFBS DPPM XBUFS BU .PSHFT u OPUFE XSJUFS $PMVN .D$BOO BO *.1"$ "XBSE XJOOFS BCPVU MBTU ZFBS T MJUFSBSZ GFTUJWBM JO .PSHFT 5IJT ZFBS NPSF UIBO XSJUFST XJMM EFTDFOE PO UIJT NFEJF WBM UPXO PWFSMPPLJOH -BLF (FOFWB GPS UIF XFFLFOE PG m 4FQUFNCFS -F MJWSF TVS MFT RVBJT IBT HSPXO GSPN B TNBMM MPDBM FWFOU UP POF PG &VSPQF T NBJO CPPL GFTUJWBMT BUUSBDUJOH PWFS WJTJUPST 5IF GFTUJWBM PGGFST FWFOUT JO 'SFODI BOE JO &OHMJTI 5IF PSHBOJ[FST BSF LFFO UP FYQBOE UIF HMPCBM TJEF PG UIF GFTUJWBM 5IJT ZFBS T &OHMJTI QSPHSBNNF JT TUSPOH BOE GBS CJHHFS UIBO CFGPSF

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

"T +PIO #PZOF BVUIPS PG 5IF #PZ JO UIF 4USJQFE 1ZKBNBT TFFT JU i5IF CFBVUZ PG UIF TVSSPVOEJOHT JT POMZ NBUDIFE CZ UIF RVBMJUZ PG UIF XSJUFST BOE UIF FOUIVTJBTN PG UIF SFBEFST u 7DVMD 'RUNRILNLV

5IJOHT UIBU HP CVNQ JO UIF OJHIU &WFSZ UJNF * SFBE BO BSUJDMF BCPVU TPNFPOF XIP TXFBST UIFZ TBX UIF GBDF PG &MWJT JO B QJFDF PG UPBTU * N SFNJOEFE PG IPX HPPE XF IVNBOT BSF BU QVUUJOH SBOEPN TIBQFT JOUP QBUUFSOT BOE USZ JOH UP NBLF TFOTF PG UIFN *U T XIBU NBLFT DMPVE XBUDIJOH TP NVDI GVO JU T BMTP XIBU HBWF VT UIF FWPMVUJPOBSZ FEHF PWFS BOJNBMT UIBU QFFSFE JOUP QSF IJTUPSJD GPSFTUT BOE DPVMEO U NFOUBMMZ PSHBOJ[F UIF TIBEPXT XFMM FOPVHI UP UFMM B TBCSF UPPUIFE UJHFS GSPN B IPMF JO UIF HSPVOE * KVTU XJTI NZ DIJMESFO XPVMEO U QSBDUJDF UIFJS QBUUFSO NBL JOH MBUF BU OJHIU CFDBVTF JU T DSFFQZ 'PS FYBNQMF POF EBSL FWFOJOH XIFO * XBT BMPOF JO PVS +PIBOOFTCVSH IPVTF XJUI NZ UIFO UXP ZFBS PME TIF MPPLFE PVU PG UIF XJOEPX BOE TBJE i.PNNZ UIFSF T B NBO JO UIF HBSEFO u 5IFSF BSF GFX XPSET UIBU XJMM HBM WBOJTF B +PCVSH EXFMMFS JOUP BDUJPO GBTUFS TP XJUI UIF QBOJD CVUUPO JO POF IBOE BOE UIF UFMFQIPOF JO UIF PUIFS * UVSOFE PGG BMM UIF MJHIUT BOE QFFSFE PVUTJEF i5IFSF T OP POF PVU UIFSF u * TBJE BGUFS B XIJMF .Z EBVHIUFS BHSFFE i/P )F T JO

IFSF OPX u TIF UPME NF QPJOUJOH UP B DPNQMFUFMZ FNQUZ DPSOFS PG UIF SPPN *U UPPL TFWFSBM TUSPOH DVQT PG UFB CFGPSF * E MFU HP PG UIBU QBOJD CVUUPO "OPUIFS IVNBO TLJMM m BMUIPVHI QFSIBQT POF XJUI MFTT FWPMVUJPOBSZ CFOFGJU m JT UIF BCJMJUZ UP NBOVGBDUVSF ESBNB GSPN BCTPMVUFMZ OPUIJOH )FSF UIF CFTU FYBNQMF * DBO UIJOL PG JT B SFBM JUZ 57 TIPX * PODF XBUDIFE BCPVU HIPTU IVOUFST :FT * LOPX CVU UIFSF XBT OPUIJOH FMTF PO 5IF QSFTFOUFS IBE GPS TPNF SFBTPO UP XBML BDSPTT B DPVSUZBSE JO UIF EBSL XIJMF IFS DP QSF TFOUFS XIP XBT JO SBEJP DPOUBDU XJUI IFS LFQU TBZJOH UIJOHT MJLF i:PV SF B RVBSUFS PG UIF XBZ BDSPTT BOE ZPV WF TFFO OP TJHO PG UIF UFSSJGZJOH HIPTU UIBU IBVOUT UIJT IPUFM /P /PUIJOH * IPQF ZPV NBLF JU BMM UIF XBZ XJUIPVU NFFU JOH UIF UFSSJGZJOH HIPTU wu #VU OPUIJOH IBQQFOFE BOE TIF NBEF JU BDSPTT TBGFMZ %FTQJUF UIJT UIF QPPS XPNBO IBE XPSLFE IFSTFMG JOUP TVDI B TUBUF UIBU CZ UIF UJNF TIF SFBDIFE UIF PUIFS TJEF TIF XBT B HJC CFSJOH TPCCJOH XSFDL 5IF SFBTPO * NFOUJPO BMM PG UIJT JT UIBU * TBX CPUI PG UIFTF UIJOHT m QBU UFSO NBLJOH BOE ESBNB NPOHFSJOH m

MBTU OJHIU JO PVS IPUFM SPPN XJUI NZ DIJMESFO *U TUBSUFE XIFO * NPWFE B CBH BOE DBTU B TIBEPX PO UIF DBSQFU #VU UIF CJHHFS DIJME UIPVHIU JU XBT TPNF UIJOH FMTF i* TBX TPNFUIJOH SVOOJOH BDSPTT UIF GMPPS u TIF UPME NF i*U XFOU VOEFS UIF CFE u 8F DIFDLFE BOE GPVOE OPUIJOH CVU TIF XBT JOTJTUFOU i*U MPPLFE MJLF B NPVTF * UIPVHIU * TBX FBST u i8IBU DPMPVS XBT JU u BTLFE IFS MJU UMF TJTUFS FWFS TVQQPSUJWF i*U XBT XIJUJTI CSPXOJTI CMBDLJTI u #Z UIF UJNF UIF DIJMESFO IBE GJO JTIFE EJTDVTTJOH JU JU IBE HSPXO B QVGGZ UBJM BOE XIJTLFST BOE XBT UIF TJ[F PG B DBU i.PNNZ u UIF TNBMMFS DIJME TDSFBNFE GJWF NJOVUFT MBUFS QPJOUJOH PVU UIF XJOEPX i* TBX JU PO UIBU USFF CSBODI *U XBT HMPXJOH u 5IJT XFOU PO GPS TPNF UJNF VOUJM UIF JOOPDFOU TIBEPX DBTU CZ NZ CBH IBE UBLFO PO UIF QSPQFSUJFT PG TPNF TPSU PG SBEJPBDUJWF USFF EXFMMJOH WBNQJSF CBEHFS 4MFFQ EJE OPU DPNF FBTJMZ MBTU OJHIU UP BOZ PG VT "OZXBZ * PGGFS UIJT BT B DBVUJPOBSZ UBMF UP QBSFOUT EPO U CPUIFS QMBOOJOH

BO BDUJPO QBDLFE IPMJEBZ GPS ZPVS DIJM ESFO GJMMFE XJUI CPBU SJEFT BOE EBZT PO UIF CFBDI *G ZPVS DIJMESFO BSF BOZUIJOH MJLF NJOF JU T WFSZ MJLFMZ UIBU UIF NPTU NFNPSBCMF QBSU PG UIFJS USJQ XJMM CF UIF POF UIJOH UIBU UIFZ EJEO U BDUVBMMZ TFF 5RE\Q *RVV LV D 6RXWK $IULFDQ ZULWHU 5HDG KHU EORJ DW ZZZ URE\QJRVV FRP


$XJXVW 6HSWHPEHU /( 1(:6

/LIHVW\OH

%\ 1HSWXQH %R\KRRG ËËËË 5HPHPEHU 5LFKDUG /LQNODWHU ZUL WHU GLUHFWRU RI WKH %HIRUH 6XQULVH 6XQVHW ILOPV" :HOO DSSDUHQWO\ KH KDV DOVR EHHQ ILOPLQJ WKH OLIH RI D FHUWDLQ ER\ QDPHG 0DVRQ ŋ SOD\HG EHDXWLIXOO\ E\ (OODU &ROWUDQH ŋ IURP DJH WKURXJK DQG KDV JDWKHUHG LW DOO LQ WKLV JURXQG EUHDNLQJ FLQHPDWLF H[SH ULHQFH ,Q LWV WZR KRXUV DQG IRUW\ PLQX WHV KH VSDQV \HDUV RI D NLG DQG KLV

6XPPHU KDV EHHQ PRVWO\ PHGLRFUH ERWK IRU ILOPV DQG ZHDWKHU 6RPH JRRG RQHV KDYH FRPH DQG JRQH XQQRWLFHG DV PDQ\ RI \RX ZHUH DZD\ IURP WKH FLW\ 7KHVH DUH WKH ODWHVW TXDOLW\ UHOHDVHV

)LQGLQJ 9LYLDQ 0DLHU $ OD UHFKHUFKH GH 9LYLDQ 0DLHU ËËË (YHU KHDUG RI 9LYLDQ 0DLHU" :HOO ZH VKRXOG KDYH DV VKH ZDV DSSDUHQWO\ D KXJHO\ WDOHQWHG SKRWRJUDSKHU 7KDQNV WR SKRWR HQWKXVLDVW DQG GRFXPHQWDU\ ILOPPDNHU -RKQ 0DORRI ZH OHDUQ WKDW WKLV UHFOXVLYH QDQQ\ ZDV DFWXDOO\ DQ DYLG VWUHHW SKRWRJUDSKHU GXULQJ KHU IUHH WLPH ZLWK WHQV RI

IDPLO\ JURZLQJ XS WRJHWKHU ZDUWV DQG DOO (WKDQ +DZNH DQG 3DWULFLD $UTXHWWH SRUWUD\ 0DVRQÅ‚V HVWUDQJHG SDUHQWV DORQJ ZLWK KLV RZQ GDXJKWHU /RUHOHL /LQNODWHU SOD\LQJ WKH VLVWHU ,WÅ‚V GLIILFXOW WR EHOLHYH WKLV LV ILFWLRQ IRU WKLV ILOP KDV LW DOO VHDPOHVV DQG VR UHDO QHYHU FURV VLQJ WKH OLQH LQWR VHQWLPHQWDOLW\ -XVW OLIH LQ FRPSDFWHG \HDUV 6LPSO\ VXSHUE DQG XQPLVVDEOH )RU WKLV þXYUH /LQNODWHU GHVHUYHV DQ 2VFDU DV EHVW GLUHFWRU

WKRXVDQGV RI SKRWRV DQG QHJDWLYHV KLGGHQ DZD\ LQ KHU EHORQJLQJV IRXQG RQO\ DIWHU KHU GHDWK 0DORRI DQG FR GLUHFWRU &KDUOLH 6LVNHO WDNH XV LQWR KHU LQWULFDWH VWRU\ DQG UHYHDO KHU DVWRXQ GLQJ SKRWRJUDSKV WR WKH ZRUOG

/H UDWLQJ Ë /XNHZDUP ËË $YHUDJH ËËË 9HU\ ZDWFKDEOH ËËËË ([FHOOHQW

-FBSO UP MJWF JO UIF SFHJPO

5

IF *OUFSOBUJPOBM 8PNFO T $MVC PG -BVTBOOF T BOOVBM i-JWJOH JO -BVTBOOF BOE UIF $BOUPO PG 7BVE 4FNJOBS -*- u XJMM UBLF QMBDF UIF UI BOE UI 4FQUFNCFS BU UIF *8$ $MVCIPVTF "WFOVF &HMBOUJOF JO -BVTBOOF 5IF *8$ IBT PSHBOJ[FE UIJT FYDFM MFOU TFNJOBS FWFSZ ZFBS TJODF 0QFO UP BMM JU QSPWJEFT OFXDPNFST XJUI WBMVBCMF JOGPSNBUJPO SFMBUJOH UP MJGF JO UIF 7BVE SFHJPO -PDBM FYQFSUT TIBSF UIFJS LOPXMFEHF BOE FYQFSJFODF PO B XJEF WBSJFUZ PG QSBDUJDBM UPQJDT TVDI BT IFBMUIDBSF TDIPPMT TFFLJOH XPSL USBOTQPSUBUJPO MPDBM BDUJWJUJFT

4XJTT IJTUPSZ DVMUVSF BOE NBOBHJOH DVMUVSF TIPDL 5IF -*- TFNJOBS JT BO FYDFMMFOU PQQPSUVOJUZ GPS OFXDPNFST XIP BSF TFU UMJOH JOUP B OFX MJGF IPNF BOE DPNNV OJUZ UP EFWFMPQ BOE FYQBOE UIFJS TPDJBM OFUXPSL BOE UP NBLF OFX GSJFOET 5IJT JT POF PG UIF FBTJFTU BOE NPTU FGGFDUJWF XBZT UP HFU XJSFE JOUP MJGF PO UIF MBLF *U JT BEWJTBCMF UP CPPL FBSMZ BT TQBDF JT MJNJUFE 3FHJTUFS PO MJOF BU XXX BJXD MBVTBOOF PSH XIFSF ZPV XJMM BMTP GJOE JOGPSNBUJPO BCPVU UIF SBOHF PG PUIFS TFSWJDFT UIBU UIF *8$ PGGFST UP UIF JOUFSOBUJPOBM DPNNVOJUZ /H 1HZV


/( 1(:6 $XJXVW 6HSWHPEHU

&ODVVLILHGV

L’EDUCATION

LE MISCELLANEOUS

French tutoring lessons For adult and children bilingual medical student is pleased to offer French tutoring to adults and children. Newcomers to Switzerland most welcome.Attractive hourly rates. Available immediately through summer. Geneva. 076 679 17 51

YOUR REUNIONS AT BOOKAFE Hold your family reunion, worship, birthday, or business event at the BookafĂŠ - Rue de Montbrillant 84-90, 1202 Genève. Flexible function room accommodates 50 people. 1 hour – CHF 40, 2 hours – CHF 75, 3 hours – CHF 100. To reserve, phone 022 733 30 32/078 760 73 15 www.bookafe.ch

English Lessons Experienced native English speaking teacher for all levels. Preparation for exams, conversational practice. Lessons tailored to individual needs. Lausanne to Nyon. Tel: 079.419.67.37 Email : ndeluze@gmail.com MUSIC & MOVEMENT CLASSES FOR INFANTS, TODDLERS, PRESCHOOLERS ‌and THE GROWNUPS WHO LOVE THEM! Free summer demonstration classes in July and August.Fall trimester starts September 8.Vevey, Blonay, La Tour-de-Peilz, Lausanne, Morges. Contact: Eliane George, 076 341 3888 Details and reservations: www.musictogetherriviera.com

LES PROFESSIONAL SERVICES JEWELRY AND WATCHMAKING L’Age d’Or, in the heart of Vevey Modern as well as timeless jewelry and watches. Quality customer service in English and in French, and an in-house service centre for jewelry, watch and clock repairs and alterations. HorlogerieBijouterie L’Age d’Or-Vevey. www.agedor.ch 021 921 18 13

Polyvalent handyman English speaking handyman available immediately for both small and large jobs: repair, gardening, construction, relocation. Affordable rates. Evenings and weekends possible. Please mention Le News. Contact Christopher Phone: +41 77 940 0543 Location: Switzerland, Geneva Mario Sonic Olympic Games Wii U New - opened but never used. It’s for a Wii U and we have an older Wii console. CHF 35 incl. postage - this game costs CHF 49.95 in Mediamarkt in Switzerland. Contact: Phillip Phone: 079 914 83 64 Location: Switzerland, St-Legier

5HDGHUV DUH DVNHG WR QRWH WKDW /H 1HZV FDQQRW DFFHSW UHVSRQVLELOLW\ IRU WKH TXDOLW\ VDIH GHOLYHU\ RU RSHUDWLRQ RI DQ\ SURGXFWV RU VHUYLFHV DGYHUWLVHG RU PHQWLRQHG LQ WKLV QHZVSDSHU 5HVSRQVLEOH SUHFDXWLRQV DUH WDNHQ EHIRUH DGYHUWLVHPHQWV DUH DFFHSWHG EXW VXFK DFFHSWDQFH GRHV QRW LPSO\ DQ\ IRUP RI DSSURYDO RU UHFRPPHQGDWLRQ $GYHUWLVHPHQWV RU RWKHU PDWHULDO DUH DFFHSWHG VXEMHFW WR WKH DSSURYDO RI WKH SXEOLVKHU DQG LWV WHUPV DQG FRQGLWLRQV 7KH SXEOLVKHU ZLOO DFFHSW DQ DGYHUWLVHPHQW RU RWKHU RQO\ RQ WKH FRQGLWLRQ WKDW WKH DGYHUWLVHU ZDUUDQWV WKDW VXFK DGYHUWLVHPHQW GRHV QRW LQIULQJH FRS\ULJKW RU FRQWUDYHQH WKH SURYLVLRQV RI WKH WUDGH GHVFULSWLRQV OHJLVODWLRQ $OO FRS\ LV VXEMHFW WR WKH DSSURYDO RI WKH SXEOLVKHU ZKR UHVHUYHV WKH ULJKW WR UHIXVH DPHQG ZLWKGUDZ RU RWKHUZLVH GHDO ZLWK DGYHUWLVHPHQWV VXEPLWWHG WR LW DW LWV DEVROXWH GLVFUHWLRQ DQG ZLWKRXW H[SODQDWLRQ $OO DGYHUWLVHPHQWV PXVW FRPSO\ ZLWK WKH 6ZLVV &RGH RI $GYHUWLVLQJ 3UDFWLFH 0DLO RUGHU DGYHUWLVHUV DUH UHTXLUHG WR VWDWH LQ DGYHUWLVHPHQWV WR WKH SXEOLF WKH WUXH VXUQDPH RU FRPSDQ\ QDPH WRJHWKHU ZLWK WKH DGGUHVV IURP ZKLFK WKH EXVLQHVV LV PDQDJHG


$XJXVW 6HSWHPEHU /( 1(:6

5HJLRQDO (YHQWV

*HQHYD .QLH &LUFXV Ń $XJXVW 6HSWHPEHU $XJXVW K K D IUHH PRUQLQJ ZLWK WKH HOHSKDQWVń 7KH IDPRXV \HDU ROG .QLH IDPLO\ FLUFXV UHWXUQV WR *HQHYD ZLWK LWV QHZ SURJUDPPH Ń'DYLG /DULEOH ŋ FORZQ RI FORZQVń $FWV LQFOXGH KRUVHV HOHSKDQWV .RUHDQ WUDSH]H GDQFLQJ GRJV WLJKWURSH ZDONLQJ DQG GLDEROR 7KH \RXQJHVW PHPEHU RI WKH WK JHQHUDWLRQ RI .QLHV &KDQHO 0DULH ERUQ LQ GÒEXWV WKLV \HDU LQ WKH WUDGLWLRQDO Ń0D[L DQG 0LQLń DFW 3ODLQH GH 3ODLQSDODLV *HQHYD 7LFNHWV &+) WR ZZZ NQLH FK

/DXVDQQH 3DLQWLQJ $PHULFD 8QWLO 2FWREHU 7KH FXUUHQW DUW H[KLELWLRQ DW WKH +HUPLWDJH )RXQGDWLRQ LV DERXW WKH KLVWRU\ RI $PHULFD LQ WKH WK FHQWXU\ 6HYHUDO SDLQWLQJV DUH EHLQJ H[KLELWHG LQ (XURSH IRU WKH ILUVW WLPH IURP IDPRXV 86 PXVHXPV 7KHUH DUH EHDXWLIXO ODQGVFDSHV DQG VWLOO OLYHV DV ZHOO DV SRUWUDLWV 0XVÒH GH Oł+HUPLWDJH ZZZ IRQGDWLRQ KHUPLWDJH FK &+)

&RUVLHU VXU 9HYH\ &KDSOLQ 5DFH $XJXVW UHJLVWUDWLRQ IURP K UDFHV VWDUW DW K (YHU\ \HDU WKH &KDSOLQ UDFH FHOHEUDWHV WKH OHJHQG ZKR ZRZHG JHQHUDWLRQV RI FLQHPD ORYHUV 7KH YDULRXV UDFH FDWHJRULHV DUH QDPHG DIWHU ILOP FKDUDFWHUV DQG SDUWLFLSDQWV DUH HQFRXUDJHG WR UXQ LQ IDQF\ GUHVV +HDWV IRU WKH VKRUW 3DOPH Gł2U ŃREVWDFOHń UDFH LQ ZKLFK SDUWLFLSDQWV FRPSHWH ZLWK SDOP OHDYHV RQ WR WKHLU IHHW VWDUW DW K 3DUF &KDSOLQ &RUVLHU ZZZ FRXUVHFKDSOLQ FK &+) NP &+) NP 3DOPH Gł2U )UHH

*HQHYD /D %ÁWLH )HVWLYDO GH *HQÑYH $XJXVW 6HSWHPEHU 7KH IHVWLYDO RI SHUIRUPLQJ DUWV KDV VSUHDG LWV ZLQJV WR LQFOXGH YHQXHV LQ 1\RQ DQG /DXVDQQH DV ZHOO DV QHLJKERXULQJ )UDQFH 7KH 3LQN )ODPLQJR LV WKH KXE LQ *HQHYD IRU FRQFHUWV LQVWDOODWLRQV WKHDWUH GDQFH '- HYHQLQJV UHVWDXUDQW FRFNWDLO EDU &KHFN WKH FRORXU FRGHG SURJUDPPH RQ WKH ZHEVLWH WR VHH ZKDW WLFNOHV \RXU IDQF\ 9DULRXV ORFDWLRQV 3LQN )ODPLQJR KXE 0DLVRQ &RPPXQDOH GH 3ODLQSDODLV 5XH GH &DURXJH *HQHYD ZZZ EDWLH FK

1\RQ *$26 +DLUVSUD\

0RQWUHX[ 9HYH\ &ODVVLFDO PXVLF IHVWLYDO

$XJXVW +DLUVSUD\ LV D VRFLDO FRPPHQWDU\ RQ WKH LQMXVWLFHV RI $PHULFDQ VRFLHW\ LQ WKH V 7UDF\ 7XUQEODGłV GUHDP LV WR GDQFH RQ D ORFDO 79 VKRZ :KHQ VKH ZLQV D SDUW LQ WKH VKRZ VKH EHFRPHV D FHOHEULW\ RYHUQLJKW 6KH WKHQ ODXQFKHV D FDPSDLJQ WR EUHDN GRZQ WKH VHJUHJDWLRQ LQ IRUFH DW WKDW WLPH $W WKH KHDUW RI WKH FLYLO ULJKWV VWUXJJOH LV D EODFN IDPLO\ ZKR SOD\ D FHQWUDO UROH LQ WKH VWRU\ 7KÒÁWUH GH 0DUHQV 1\RQ 7LFNHWV &+) ZZZ JDRV FK

$XJXVW 6HSWHPEHU )RU FODVVLFDO PXVLF ORYHUV WKH Ń6HSWHPEUH 0XVLFDOń IHVWLYDO LV D KLJKOLJKW RI WKH VHDVRQ RQ WKH 5LYLHUD 7KLV \HDUłV SURJUDP LQFOXGHV WKH /RQGRQ 5R\DO 3KLOKDUPRQLF 2UFKHVWUD DQG WKH 5XVVLDQ 1DWLRQDO 2UFKHVWUD ,W LV DOVR WKH RSSRUWXQLW\ WR GLVFRYHU WKH <RXWK 2UFKHVWUD RI %DKLD %UD]LO DQG LWV WDOHQWHG \RXQJ PXVLFLDQV $XGLWRULXP 6WUDYLQVNL 0RQWUHX[ ZZZ VHSWPXV FK

0RUJHV %RRNV RQ WKH TXD\

*ODQG 9LQWDJH 5RFN 1LJKW

6HSWHPEHU )ULGD\ 6XQGD\ K K 6DWXUGD\ K WR K Ń/H OLYUH VXU OHV TXDLVń LV DQ DQQXDO ERRN IDLU LQ 0RUJHV ZLWK URXQGWD EOHV OLWHUDU\ FUXLVHV DQG PRUH 7KLV \HDU LW ZLOO KRVW DOPRVW DXWKRUV LQFOXGLQJ VRPH (QJOLVK VSHDNLQJ ZULWHUV VXFK DV 'RXJODV .HQQHG\ DQG $QG\ 0F1DE 7KHUH DUH SURJUDPPHV IRU FKLOGUHQ DQG VFKRROV DV ZHOO DV EUXQFK FRQIHUHQFHV RQ 6DWXUGD\ DQG 6XQGD\ /DNHIURQW LQ 0RUJHV QHDU WKH FKÁWHDX ZZZ OHOLYUHVXUOHVTXDLV FK )UHH

$XJXVW IURP K $XVWUDOLDQ EDQG Ń7KH 6WLOHWWR *URRYHń LV DQ LPSUHVVLYH JURXS RI PXVLFLDQV ZKR KDYH DFFRPSDQLHG LQWHUQDWLRQDO DUWLVWV WRXULQJ 'RZQ 8QGHU VXFK DV 6DQWDQD %RE 0DUOH\ DQG 0HQ DW :RUN :H JXDUDQWHH D PXVLFDO ŃEODVWń LQ D YHU\ VSHFLDO YHQXH WKH FKRVHQ UHFRUGLQJ VWXGLR RI PDQ\ JUHDW PXVLFLDQV ,Q DLG RI )RQGDWLRQ .LGV ZLWK D &DXVH (XURSH 'LQHPHF 6WXGLRV UXH GH OD 3DL[ *ODQG 3DUNLQJ EHVLGH 7KÒDWUH GX *UDQG &KDPS FK GH OD 6HULQH &+) RQ WKH GRRU

/DXVDQQH &RPSWRLU 6XLVVH 6HSWHPEHU K K :LQH FHOODUV RSHQ WLOO K 7KH FRXQWU\VLGH FRPHV WR WRZQ DW WKLV DQQXDO IDLU ZLWK PRUH WKDQ DFWLYLWLHV FRQFHUWV IDUP DQLPDOV DQG H[KLELWRUV 6HH WKH FRZV EHLQJ PLONHG HYHU\ GD\ DW K DQG YLVLW WKH DUHQD IRU HTXHVWULDQ GHPRQVWUDWLRQV WHDP SHQQLQJ SLJ UDFHV DQG PRUH *XHVW RI KRQRXU 6ZLVV 1DWLRQDO 3DUN LQ LWV FHQWHQDU\ \HDU %HDXOLHX /DXVDQQH &+) GRZQORDG YRXFKHU RQ ZHEVLWH IRU RII &RQFHVVLRQV &+) XQGHU V IUHH ZZZ FRPSWRLU FK

/DXVDQQH %' ),/ FRPLF VWULS IHVWLYDO 6HSWHPEHU K K 6DWXUGD\ WR K 6XQGD\ FORVHV DW K &RPLF EXIIV DUH LQ IRU D WUHDW ZLWK WKLV MDP SDFNHG SURJUDPPH LQFOXGLQJ PRYLHV GLVFXVVLRQV H[KLELWLRQV ERRN VLJQLQJV DQG PRUH *XHVW RI KRQRXU /HZLV 7URQGKHLP ZKR FUHDWHG WKLV \HDUłV SRVWHU SOD\V ŃJUDSKLF SLQJ SRQJń ZLWK 6ZLVV FDUWRRQLVW =HS FUHDWRU RI 7LWHXI RQ 6DWXUGD\ 6HH ZHEVLWH IRU DOO WKH GHWDLOV /RFDWLRQV LQ FHQWUDO /DXVDQQH ZZZ EGILO FK 'D\ FDUG &+) FRQFHVVLRQV &+) 8QGHU V IUHH


/( 1(:6 $XJXVW 6HSWHPEHU

3X]]OHV

(DV\ +DUG (QWHU QXPEHUV LQWR WKH EODQN VSDFHV VR WKDW HDFK URZ FROXPQ DQG [ ER[ FRQWDLQV WKH QXPEHUV WR

:LQ 6XGRNX 6HQG XV WKH WKUHH QXPEHUV LQ WKH VKDGHG VTXDUHV IRU D FKDQFH WR ZLQ &+) 7KH ILUVW FRUUHFW DQVZHU GUDZQ HYHU\ VHFRQG 0RQGD\ ZLOO ZLQ (PDLO SUL]HV#OHQHZV FK &RGHZRUG 6HQG XV WKH WKUHH OHWWHUV LQ WKH VKDGHG VTXDUHV IRU D FKDQFH WR ZLQ &+) 7KH ILUVW FRUUHFW DQVZHU GUDZQ HYHU\ VHFRQG 0RQGD\ ZLOO ZLQ (PDLO SUL]HV#OHQHZV FK

(DFK OHWWHU KDV EHHQ UHSODFHG E\ WKH VDPH QXPEHU WKURXJKRXW WKH SX]]OH 6LPSO\ GHFLGH ZKLFK OHWWHU LV UHSUHVHQWHG E\ ZKLFK QXPEHU DQG FRPSOHWH WKH SX]]OH 7R VWDUW RII ZHÅ‚UH JLYHQ \RX WKH ILUVW WKUHH OHWWHUV

6SRWOLJKW

"JS 1BZFSOF 4P FWFOUT BSF BMM UPP PGUFO EFTDSJCFE BT iOPU UP CF NJTTFEu 5IF USVUI 5IF 1BZFSOF BJSTIPX JT OPU UP CF NJTTFE 5IF TIPX JT OPJTZ JU BTUPOJTIFT BOE JU MJUFSBMMZ NBLFT FWFSZUIJOH USFNCMF 8IFO ZPV XBUDI GBTU KFUT NBOPFVWSF LFFQ JO NJOE UIBU ZPV BSF TFFJOH TPNF PG UIF XPSME T NPTU BEWBODFE UFDIOPM PHZ CFJOH PQFSBUFE CZ TPNF PG UIF DMFW FSFTU BOE NPTU TQBUJBMMZ BXBSF IVNBOT BMJWF *G ZPV BSF UJSFE PG MPPLJOH BU UIF LJET QMBZJOH WJEFP HBNFT UIFO UBLF UIFN UP XBUDI QFPQMF EPJOH iJUu GPS SFBM .BZCF UIFO UIFZ XJMM VOEFSTUBOE UIBU NBUIT BOE TDJFODF DBO MFBE UP B NJOE CMPXJOH DBSFFS PQQPSUVOJUZ BOE UIBU iSFBMu DBO CFBU iWJSUVBMu IBOET EPXO 5IF 4XJTT "JS 'PSDF SVOT UIF FWFOU BOE UIJT ZFBS JU JT DFMFCSBUJOH JUT UI BOOJWFSTBSZ XJUI UIF CJHHFTU BJS TIPX JO 4XJTT IJTUPSZ 5IF TIPX JT OPU KVTU BCPVU GBTU KFUT 7JOUBHF BFSPQMBOFT BFSPCBUJD UFBNT MFHFOEBSZ BJSDSBGU BOE GBNPVT BWJBUJPO QFSTPOBMJUJFT XJMM BMTP CF JO UIF TQPUMJHIU "MUIPVHI JU JTO U QPTTJCMF UP IBWF BO BJS TIPX XJUIPVU BOZ OPJTF PS GVFM DPO TVNQUJPO UIF "JS 'PSDF JT QMBOOJOH JU XJUI 4XJTT DPOTJEFSBUJPO UIF BNPVOU

FRXUWHV\ RI $LU 3D\HUQH

PG GVFM VTFE EVSJOH UIF TIPX XJMM CF BCPVU UIF TBNF UIBU XPVME OPSNBMMZ IBWF CFFO VTFE EVSJOH OPSNBM GMJHIU TFSWJDF 5IFZ TBZ UIF CJHHFTU JNQBDU PO UIF FOWJSPONFOU XJMM CF DBVTFE CZ TQFDUBUPST DPNJOH CZ DBS TP UIFZ FODPVSBHF WJTJUPST UP VTF QVCMJD USBOT QPSU PS DBS TIBSF 5IF TIPX JT CFJOH IFME PO BOE "VHVTU BOE 4FQUFNCFS *G ZPV CVZ UJDLFUT PO UIF EBZ CF BXBSF UIBU JU JT DBTI POMZ 5IFZ EP UBLF &VSPT 5JDLFUT DBO CF CPVHIU POMJOF m BMMFHFEMZ * USJFE BOE GBJMFE IPXFWFS JG ZPV MJWF JO (FOFWB JU TFFNJOHMZ XPSLT -HUHP\ 0F7HDJXH



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.