Swiss Trade & Tariffs: Swiss President Guy Parmelin said he was “not surprised” by the US proposal to impose 12.5% tariffs on Switzerland, pointing to ongoing negotiations and written responses to Section 301 concerns. Swiss Politics & Migration: MPs in Switzerland have backed a “security tax” idea for foreign residents, modeled on the military exemption tax, as debate intensifies ahead of a population cap vote. Private Markets Stress: Swiss asset manager Partners Group capped redemptions amid private credit strain spilling into private equity, highlighting wider liquidity and valuation worries across the sector. Swiss Business & Innovation: On expands retail presence with a new Selfridges Body Studio in the UK, while Swiss UMEF highlights international accreditation and certification as a quality signal for global learners. Cybersecurity: SK Telecom joined Anthropic’s Project Glasswing, using Claude Mythos to proactively test and harden systems after a major USIM breach. Swiss Corporate Watch: Rajesh Exports rejected SEBI allegations of inflated revenues and preferential share placement to LIC, arguing the regulator’s interim order raised only “suspicions” with no conclusive adverse findings. Food & Pharma: Nestlé is partnering with US firm Helaina on “bioactive proteins” for infant formula, aiming to deepen science on early-life gut and immune interactions.