Saturday , September 21 2019
Home / Tag Archives: Business

Tag Archives: Business

Pressure returns on Swiss franc amid global uncertainty

The Swiss franc has started to appreciate in value against other currencies, including the euro, once again. One knock-on effect of the escalating trade war between the United States and China is that the Swiss franc is becoming more attractive for investors – putting pressure on the Swiss National Bank (SNB) to come to the defence of the safe haven currency. For much of July a euro bought at least CHF1.10. But the...

Read More »

Swiss mortgages and bank profits rise as jobs scale down

The Swiss banking industry continues to turn in a profit despite low interest rates. Swiss commercial banks achieved higher profits last year, mortgage loans tipped the CHF1 trillion ($1.02 trillion) mark and costs were saved by reducing headcounts. These are the findings of an annual report from the Swiss National bank (SNB). The SNBexternal link’s “Banks in Switzerlandexternal link” annual report shows combined Swiss...

Read More »

Swiss central bank asked to issue stock exchange digital currency

The Swiss central bank produces paper money for general use, but will only contemplate digital currencies for specific industry use cases. The Swiss stock exchange wants the country’s central bank to issue a form of cryptocurrency to settle payments on its new digital securities trading platform. If the Swiss National Bank (SNB) agrees, it would represent a departure from its cautious policy on digital currencies. Stock...

Read More »

Swiss franc still highly valued, but no policy change

Jordan has been chairman of the SNB since 2012. The Swiss franc, investment in arms, and the housing market were some of the issues the government discussed with the chairman of the Swiss National Bank. SNB chairman Thomas Jordan told the government that he sees the Swiss currency as highly valued and warned of the continuing risks of bubbles in the housing market. “Jordan emphasised that monetary policy with negative...

Read More »

Realizing the Potential of the G20 Compact with Africa

By Christine Lagarde October 30, 2018 Power Plant, Abidjan, Cote d’Ivoire. The G20 Compact with Africa was initiated under the German G20 Presidency to promote private investment in Africa, including in infrastructure. So far, eleven African countries have joined the initiative: Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia (photo: Thierry Gouegnon/Reuters/Newsom) The Compact with Africa focuses on a fundamental challenge for the...

Read More »

Chart of the Week: Invest in Robots and People in Asia

By IMFBlog August 29, 2018 An engineer adjusts a robot arm in a robotics plant in Shenyang, China, where industrial robots are widely used for manufacturing (photo: Yang Qing Xinhua News Agency/Newscom) With about 1 million robots in use in Asia, robotics and automation mean economic risks and growth opportunities for the region. For Asia to fully reap this digital opportunity as the world’s main engine of growth, countries need to revamp their education systems and invest in...

Read More »

Trade and Remittances Within Africa

By Francisco Arizala, Matthieu Bellon, Margaux MacDonald, Montfort Mlachila, and Mustafa Y. Yenice August 1, 2018  Versions in Français, Português Countries in sub-Saharan Africa are more closely tied than ever, thanks to rising trade with one another and remittances (photo: AfricaImages/Getty Images by iStock) Contrary to popular belief, countries in sub-Saharan Africa are more closely tied than ever, thanks to rising trade with one another and remittances—the money people send home...

Read More »

‘Much too early’ to lift interest rates, says SNB chairman

The strong franc is hurting Swiss exporters and the domestic tourism industry The continued volatility surrounding the Italian elections and the threat of global trade wars make it far too early for the Swiss National Bank (SNB) to consider raising rock bottom interest rates, says chairman Thomas Jordan. “It’s much too early at this moment,” Jordan told CNNMoney Switzerland. “The situation is still quite fragile...

Read More »

Weakening franc approaches symbolic mark

The SNB conducts a difficult balancing act to stabilise the national economy. (Keystone) - Click to enlarge As the Swiss franc weakens towards the threshold CHF1.20 exchange rate, the likelihood remains slim that Switzerland’s central bank will alter monetary policy any time soon. On Thursday morning a euro cost CHF1.198 francs. In February, the price of a single euro fell to under CHF1.150. The greater the...

Read More »

Swiss central bank records huge profits after franc slide

The Swiss central bank confirmed a record CHF54 billion overall profit in 2017 (Keystone) - Click to enlarge The Swiss National Bank (SNB) was less active on the foreign exchange markets last year, acquiring CHF48.2 billion ($50.8 billion) in foreign currency to weaken the franc. On Thursday, the central bank nonetheless confirmed massive profits on currency holdings in 2017. In 2017, the SNB purchased...

Read More »