Word: zuricher
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...Miniature Zurich. The campaign worked, despite the fact that the U.B.P.'s paternalistic reign has had some rather impressive results in the Bahamas. Under Premier Symonette and Finance and Tourism Minister Sir Stafford Sands, the islands' economy is booming. Industrial development is spurting, thanks to the Bahamas' cheap labor, plentiful land and absence of income taxes. To lure international funds, the government has turned the islands into a miniature Zurich and induced 77 banks to set up shop, offering 6% interest rates and secret, coded accounts -no questions asked...
...hour after he took the oath of office-the first interview granted by the new Chancellor. On hand to help were Correspondent Gisela Bolte, our German economics specialist, and Stringer Burton Pines, who is working for a doctorate in modern German history. European Economic Correspondent Robert Ball, stationed in Zurich, came to Bonn for the story; Ball is an old German hand who had put in an eleven-year stint in Munich and Berlin...
...Moscow, but the Russians already have banks in London, Paris and Beirut that earn attractive commissions by cutting red tape, handling paper work and removing the risk for Western exporters by discounting their bills in advance. Now, with trade on the increase, they have opened a new bank in Zurich...
Sunrise Serenade. The Zurich bank, which occupies sleek second-floor offices on the Schützengasse, is a Swiss-chartered joint stock company with initial assets of $2.3 million. It has been christened Wozchod Handelsbank, or Sunrise Commercial Bank; Chairman Albert Nikolaevich Belishchenko, 36, a career banker who was formerly vice-director of Moscow's Gosbank, says the name refers to the spaceships that the Russians launched in 1964 and 1965. Belishchenko takes pains to allay Swiss fears that Moscow will use the bank to dump gold and otherwise disrupt the tiny nation's financial ties to other...
...West in which each nation accumulated Western currencies on its own, now has a joint International Bank for Economic Cooperation. The bank operates as a kind of Communist central bank, switches currencies among member countries in order to improve trade. The bank's delegates will soon arrive in Zurich to confer with the Wozchod bank with a view to stimulating such trade even more...