The VP Bank Group is expecting to record a stable financial result for financial year 2020. In total, the banking group was able to generate net new money of 1.4 billion Swiss francs. In terms of group net income, however, VP Bank had to contend with a pandemic-related decline.

The Liechtenstein financial sector took part in the international PACTA climate compatibility test. The results show that the country’s financial institutes continue to invest heavily in fossil fuels. Nevertheless, many are developing or already pursuing sustainable environmental strategies.

Trainees from the Liechtenstein coating specialists Oerlikon Balzers have developed a couple of handy tools to support lab staff at the vaccination center located at the Spoerry complex in Vaduz. They innovations facilitate the smooth handling of numerous vials and syringes.

The LGT Group has signed up to the UN Principles for Responsible Banking. The banking group under the ownership of the Princely Family of Liechtenstein is seeking to fulfil its responsibilities with regard to ensuring the sustainability of the financial sector.

Tinned goods are an excellent way of storing food, especially during times of crisis. In the past year, Hilcona produced around 29 million cans of vegetables. For these, the company exclusively used fresh produce from Liechtenstein and Switzerland.

The Association for Information Systems has awarded a paper by Stefan Seidel, Chair of Information Systems and Innovation at the University of Liechtenstein. He wrote the paper in question with two colleagues from the USA.

The consulting institute Great Place to Work has named LGT in Liechtenstein and Switzerland as one of the best employers. The bank owned by the royal family of Liechtenstein was also certified as a successful employer in other locations.

Repartner Produktions has agreed a deal to purchase a wind farm with five wind turbines located in Berlar, Germany. Liechtensteinische Kraftwerke (LKW) holds a stake of just under 10.4 percent in Repartner Produktions, which is in turn majority owned by Repower.

Unemployment in Liechtenstein increased by 94 individuals on a year-on-year basis to stand at 370 people in December 2020. The unemployment rate has therefore risen by 0.4 percentage points to 1.8 percent. In comparison with the previous month, nine more people registered as unemployed.

VP Bank (Luxembourg) has completed the acquisition of private banking business of Öhman Bank S.A. in Luxembourg. With a client base mainly comprising Scandinavian entrepreneurs and investors, Öhman Bank will strengthen the position of the VP Bank in the Nordics.

Felfel has gained Toni Hilti Familientreuhänderschaft, operated by the Toni Hilti family from Liechtenstein, as a new investor in the business. The Zurich-based start-up now intends to use this fresh capital injection to refine its smart refrigerator solution. Rico Hilti is set to join the Board of Directors.

Zug fintech Smart Valor has been awarded the necessary licenses in Liechtenstein for services including the staking and trading of cryptocurrencies. This authorization is based on the new cryptocurrency law in Liechtenstein.

Seawind is implementing offshore wind projects off the coast of Poland. The capacity of these installations could potentially reach up to 7.3 gigawatts. Seawind is now joining forces with Iberdrola to realize further developments. The Spanish firm has acquired 50 percent of the shares in the project portfolio.

The Board of Directors at Liechtensteinische Landesbank (LLB) has once again nominated Georg Wohlwend as Chairman. In November, Wohlwend resigned his position in connection with a preliminary investigation linked to accusations of insider trading. However, the case has now been dropped.

The Schaffhausen software developer Acronis is opening a data center in Liechtenstein. Service providers will be able to store business-critical client data there. With this latest development, Acronis will now be operating 111 data centers worldwide.

The Demeter beehives housed at Hilcona in Schaan at the start of this year have developed magnificently, the company has said. Project Bee Hilcona was the Liechtenstein-based food group’s way of attempting to contribute to biodiversity and combat insect deaths.

Liechtenstein bank LGT is acquiring the wealth management business of UBS Europe SE in Austria. LGT will consequently become the leading private bank in the Austrian market. The around 60 employees of UBS will be integrated into LGT locations in Vienna and Salzburg.

The Financial Stability Council has attested that Liechtenstein’s finance sector has fared comparatively well in the pandemic so far. The employment market has also maintained stability. However, action needs to be taken as regards the high level of private debt.

In a ranking from WirtschaftsWoche business news magazine, Jan vom Brocke has been included in the elite group of economists in Austria, Germany and Switzerland. The ranking is based on the publication output of 3,500 researchers.

VP Bank is planning to drive forward its digital transformation into a wealth management service provider. In this regard, the bank’s IT infrastructure is to be professionalized and in certain cases will be outsourced to third parties. The bank intends to enter into a strategic partnership with an external technology company.