Switzerland

Swiss companies agree to take action against child sex tourism

Geneva - An organization representing 900 Swiss companies has signed an agreement to crack down on commercial child sex tourism, an official with the Swiss Federation of Travel Agencies said Monday.

"We want our members to inform their clients and partners in different countries about the protection of children there," Sandra Gonzales with the SVR, the federation's German initials, told Deutsche Presse-Agentur dpa.

The organization also called on tourists to report any illegal activities at their holiday destinations to the Swiss Federal Police, via an online form that was first made available over the summer.

UN to transfer 60,000 displaced Congolese to new camps

Switzerland flagGeneva - Continuing fighting in the eastern Democratic Republic of Congo has prompted the UN to make plans to transfer 60,000 displaced people to a new camp farther away from the front lines, officials said Friday.

The new site is located about 15 kilometres to the south-west of the existing camps. Most of the transferees will have to make their way on foot.

"The voluntary transfer will be complicated," said Ron Redmond of the United Nations High Commissioner for Refugees. He added the transfer was expected to start next week.

"We hope to complete it very quickly, within a few days," Redmond said.

UBS ends run of quarterly losses but adds writedowns

Swiss banking giant UBSZurich - Swiss banking giant UBS AG reported Tuesday its first profit in four quarters.

The world's biggest wealth manager, which has emerged as one of the major victims of the recent round of financial turmoil triggered by the US mortgage market meltdown, reported a third-quarter profit of 296 million Swiss francs (256.3 million dollars).

The Zurich-based bank said last month it planned to raise 6 billion Swiss francs from the government and it planned to shift 60 billion Swiss francs of toxic assets to a special Swiss central bank fund.

Profits fall at world's largest recruiter Adecco

Profits fall at world's largest recruiter AdeccoZurich - The weak global economy has affected third-quarter profits at the world's largest recruitment firm, Adecco, sending them sharply down by 23 per cent compared to the same quarter of 2007, to 168 million euros (212 million dollars).

Revenue dropped by 6 per cent over the same period to 5.1 billion euros, the company reported Tuesday in Zurich.

Revenue fell by 9 per cent in the United States and Canada, the second most important market.

Swiss Re reports surprise third-quarter loss of 260 million dollars

Zurich - Switzerland's reinsurance giant Swiss Re reported a surprise third-quarter loss Tuesday, slipping 304 million Swiss francs (259 million dollars) into the red after registering a profit of

Innsbruck or Kuopio to host inaugural Winter Youth Olympics

Lausanne, Switzerland - The inaugural Winter Youth Olympics in 2012 will take place in Innsbruck or Kuopio, the International Olympic Committee (IOC) said on Monday.

The IOC said in a press release that the Austrian town of Innsbruck and Finland's Kuopio were picked by the IOC executive board after an evaluation committee report. Lillehammer (Norway) and Harbin (China) were dropped.

The host city will be elected by the IOC members in a postal vote and named by IOC boss Jacques Rogge on December 12.

The Winter Youth Olympics will bring together around 1,000 athletes aged 14-18 to compete in Olympic disciplines. The first summer edition is 2010 in Singapore.

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