(watches and jewelry), Art Basel, Orbit and Cultura.
The Swiss chemical industry operates largely from Basel, and Basel also has a large pharmaceutical industry. Novartis, Syngenta,Ciba Specialty Chemicals, Clariant, Hoffmann-La Roche, Basilea Pharmaceutica and Actelion are headquartered there. Pharmaceuticals and specialty chemicals have become the modern focus of the city's industrial production.
Banking is extremely important to Basel:
* UBS AG maintains central offices in Basel,
* The Bank for International Settlements is located within the city and is the central banker's bank. The bank is controlled by a board of directors, which is composed of the elite central bankers of 11 different countries (US, UK, Belgium, Canada, France, Germany, Italy, Japan, Switzerland, the Netherlands and Sweden).
According to the BIS, "The choice of Switzerland for the seat of the BIS was a compromise by those countries that established the BIS: Belgium, France, Germany, Italy, Japan, the United Kingdom and the United States. When consensus could not be reached on locating the Bank in London, Brussels or Amsterdam, the choice fell on Switzerland. An independent, neutral country, Switzerland offered the BIS less exposure to undue influence from any of the major powers. Within Switzerland, Basel was chosen largely because of its location, with excellent railway connections in all directions, especially important at a time when most international travel was by train."
Created in May 1930, the BIS is owned by its member central banks, which are private entities. No agent of the Swiss public authorities may enter the premises without the express consent of the bank. The bank exercises supervision and police power over its premises. The bank enjoys immunity from criminal and administrative jurisdiction, as well as setting recommendations which become standard for the world's commercial banking system
