Archive – Banking & Fintech

Global anti-tobacco treaty stays on hold

This content was published on Feb 27, 2005 The Geneva-based World Health Organization (WHO) believes the anti-tobacco convention could save millions of lives around the world. The WHO says the first international public health treaty will dissuade children from smoking and help adults kick the habit through strong warnings on cigarette packages and bans on tobacco advertising and sponsorship. “I encourage all countries…

Slow Info Summit progress frustrates Swiss

This content was published on Feb 26, 2005 The head of the Swiss delegation, Marc Furrer, told swissinfo that the process was being bogged down by unnecessary debate over issues already resolved. Over the past ten days, around 1,700 international experts have been meeting in Geneva to prepare for the second phase of the World Summit on the Information Society (WSIS), which will…

Tax breaks for rich foreigners under scrutiny

This content was published on Feb 25, 2005 Parliament is due to consider a proposal to scrap these breaks, although the authorities are happy to grant them to the rich and famous. There is more than one reason for wealthy foreigners, such as the Formula One racer, Michael Schumacher, or former tennis star, Boris Becker, to seek a Swiss residency permit. They can…

Consumers protest at high prices

This content was published on Feb 25, 2005 Delivering his annual report on Friday, price regulator Rudolf Strahm said Switzerland’s high prices were due mainly to over-expensive imports. In 2004, 953 complaints were filed about high prices, with health costs the most frequent cause for dissatisfaction. “We have noticed that the awareness of prices and price differences among the Swiss population is rising,”…

Nestlé profit rises despite slight drop in sales

This content was published on Feb 25, 2005 But sales revenue dropped 1.4 per cent to SFr86.77 billion, weighed down by factors including the low dollar, net divestments and flagging demand in Europe. Announcing the figures on Thursday, Nestlé said the profit hike was largely due to an increase in operating efficiency, despite higher costs for raw materials. The figure was also boosted…

Calida doubles profit as turnaround continues

This content was published on Feb 25, 2005 Announcing its results on Friday, the Swiss market leader said it would continue its relocation of production jobs to eastern Europe. The SFr6 million operating profit in 2004 was twice the previous year’s level, despite sales dropping to SFr138 million. The company had earlier said it expected sales to remain at the 2003 level of…

Home building reaches new high

This content was published on Feb 24, 2005 But for the majority of Swiss who live in rented accommodation, that news will be irrelevant. Their rents will probably increase. The Credit Suisse real estate study shows that about 65 per cent of residents live in rented accommodation, while only 35 per cent are home owners. The figures might come as a surprise to…

Small circuses struggle to survive

This content was published on Feb 24, 2005 But the circus tradition is in danger. Strict regulations and rising costs could force some smaller companies to stop touring or even close their doors completely. A frequent complaint is that circus entertainment is not considered to have any cultural value and the Swiss authorities do not grant circuses concessions to help them operate. “The…

Troubled Converium appoints new CEO

This content was published on Feb 24, 2005 A statement issued on Thursday said current board member Terry Clarke would take over from Dirk Lehmann with immediate effect. “The board believes that a management change is necessary to bring about a long-term cultural transformation and restore stakeholder confidence in the company,” said chairman of the board Peter Colombo. Clarke, a board member since…

Nestlé profit rises despite slight drop in sales

This content was published on Feb 24, 2005 But sales revenue fell to SFr86.77 billion from nearly SFr88 billion in 2003, weighed down by flagging demand in Europe and a weak dollar. Announcing the figures on Thursday, Nestlé said it would launch a SFr1 billion share buyback programme later this year. The world’s largest food company said there could be more buybacks to…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Global anti-tobacco treaty stays on hold

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Slow Info Summit progress frustrates Swiss

More

Tax breaks for rich foreigners under scrutiny

More

Consumers protest at high prices

More

Nestlé profit rises despite slight drop in sales

More

Calida doubles profit as turnaround continues

More

Home building reaches new high

More

Small circuses struggle to survive

More

Troubled Converium appoints new CEO

More

Nestlé profit rises despite slight drop in sales

Popular Stories

Most Discussed