Swiss say āNoā to measure forcing SNB to acquire more gold
The āSave Our Swiss Goldā proposal stipulating the Swiss National Bank hold 20% of its $540bn balance sheet in gold and never sell was voted down.
Zurich
Uncertain platinum levels leave investors shy
Investors are unlikely to rush back into platinum any time soon after a minimal price reaction to its biggest-ever supply shock highlighted a major problem: no-one knows how much metal exists above ground or more importantly who holds it.
Qatar will not host World Cup, says FIFA member
BERLIN (Reuters) – The 2022 World Cup will not be held in Qatar because of the scorching temperatures in the Middle East country, FIFA Executive Committee member Theo Zwanziger said on Monday. “I personally think that in the end the 2022 World Cup will not take place in Qatar,” the German told Sport Bild on … Read more
David Shapiro: Anglogold spinoff another thumbs down for SA economic policies
BHPBillitonās āSpinCoā where SA-based assets were put into an independent listing, Shapiro interpreted it as a vote of no confidence in the direction the countryās economic policies are taking.
Collapse led Mo Farah to miss commonwealth games
by Simon Turnbull Mo Farah, the reigning world and Olympic 5,000m and 10,000m champion, missed the Commonwealth Games in Glasgow because he collapsed and knocked himself out on a bathroom floor and spent four days in hospital. The 31-year-old British runner explained the full reason for his absence from Glasgow after arriving in Zurich for … Read more
Malaysia Airlines jet crash insurance may be complex and lengthy
* Insurers likely to pay quickly for plane loss * Aviation insurance market hit hard in recent days * Allianz unit is lead reinsurer for aircraft By Alwyn Scott NEW YORK, July 17 (Reuters) – Insurance on the Malaysian airliner brought down overĀ UkraineĀ is likely to pay out relatively quickly if the cause of the crash … Read more
We have nothing to hide, says Qatar World Cup chief
(Reuters) – The 2022 World Cup will take place as planned in Qatar and the country has nothing to hide over allegations of corruption during the bid process, the tournament communications director Nasser Al Khater said on Wednesday. “Weāve held ourselves to the highest ethical standards. We are confident of how weāve behaved,” Al Khater … Read more
AFRICA INVESTMENT-The Swiss commodities connection in African poverty
By Ed Stoddard JOHANNESBURG, June 27 (Reuters) – Are mispricing and the opacity of commodities trading in Switzerland contributing to Africa’s underdevelopment? The world’s poorest continent remains heavily dependent on natural resources and so is extremely vulnerable to manipulations in the price of the commodities it extracts and exports, with very real consequences for its … Read more
Secretive Swiss vaults may hold missing link in platinum price equation
By Silvia Antonioli and Clara Denina LONDONĀ (Reuters) – Underground vaults next to a Swiss farming village may reveal one reason for the platinum market’s indifference to its biggest ever supply shock. Most analysts and market players expected steep price increases for the precious metal as a record five month mining strike inĀ South Africa, which ended … Read more
Mistake to award World Cup to Qatar, says Blatter
(Reuters) – Awarding the 2022 soccer World Cup to Qatar was a ‘mistake’ and the tournament will probably have to be held in the winter because of the heat, FIFA president Sepp Blatter has said. “Of course, it was a mistake. You know, one comes across a lot of mistakes in life,” he told Swiss … Read more