SNB & CHF

Summary Fitch upgraded Indonesia by a notch to BBB with stable outlook. EU-Poland tensions entered a new phase. Cyril Ramaphosa was elected as the new ANC President over opponent Nkosazana Dlamini-Zuma. Argentina’s lower house approved President Macri’s pension reform bill. Sebastian Pinera won the Chilean presidency in the second round vote. Mexico political risk is rising as the PRI slush money scandal widens....

The public prosecutor of the southern Swiss canton of Ticino has opened criminal proceedings over irregularities concerning the bankruptcy of regional carrier Darwin Airlines. According to the SonntagsZeitung paper, the Ticino public prosecutor opened criminal proceedings against “unknown persons” on Thursday after the bankruptcy office in Lugano drew his attention to suspected irregularities. The regional carrier,...

The collapse of a beam holding up the ventilation system was responsible for the tunnel closure in September (Keystone) - Click to enlarge Switzerland’s oldest traffic tunnel through the Alps reopened on Christmas eve after a three-month closure due to problems with the ventilation system. After extensive repair work, the tunnel that connects Martigny in the western Swiss canton of Valais with the Aosta...

A more human world lies just beyond the edge of the Status Quo. Readers often ask me to post something hopeful, and I understand why: doom-and-gloom gets tiresome. Human beings need hope just as they need oxygen, and the destruction of the Status Quo via over-reach and internal contradictions doesn’t leave much to be happy about. The most hopeful thing in my mind is that the Status Quo is devolving from its internal...

The Swiss consumption indicator by UBS shows improvements. The indicator is still distant from the highs in 2012. At the time stronger growth in Emerging Markets and the weaker franc helped the Swiss economy. At 1.67 points, the UBS consumption indicator was above its long-term average in November, indicating solid consumption growth in 2018. Thanks to solid economic growth, private consumption will likely continue...

Swiss Franc The Euro has risen by 0.32% to 1.1763 CHF. EUR/CHF and USD/CHF, December 27(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates There were several developments on the day after Christmas, while many markets remained closed and investors sidelined.   One of the most important developments was the euro’s complete recovery from the flash crash of nearly three...

To guarantee the smooth roll-out of its new banknote series, the Swiss National Bank (SNB) has bought a struggling paper factory in eastern Switzerland. The takeover of Landqart AG, valued at CHF21.5 million ($21.7 million), is split between the SNB (90%) and the security printing division of Swiss publisher Orell Füssli (10%). + Switzerland is rolling out a new series of banknotes with numerous security features...

C’est la monnaie préférée des pirates informatiques. Celle qu’exigent les hackers lorsqu’ils formulent  une demande de rançon. Mais pas seulement ! Depuis que le bitcoin flambe (il a dépassé le 15 décembre les 17 000 dollars), de plus en plus de fonds d’investissement, alléchés par les perspectives haussières de son cours, s’y intéressent. Et de nombreux sites de commerce en ligne se mettent à facturer produits et...

Forget guns or traps, a researcher in Switzerland has been using terrifying sounds to try and scare wild boar away from crops. It's hoped that the "scary stories"might help farmers, who suffer from destroyed fields and harvests thanks to the animals. The number of wild boar in Switzerland has been increasing for years. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss...

Glencore has denied any wrongdoing (Keystone) - Click to enlarge Swiss NGO Public Eye has filed a criminal complaint with the Office of the Attorney General of Switzerland against the activities of Swiss commodities giant Glencore in the Democratic Republic of Congo (DRC). The Office of the Attorney Generalexternal link on Tuesday confirmed receipt of the complaint but said further details were currently not...