Archive – Banking & Fintech

Mountain rescuers seek cash lifeline

This content was published on Sep 17, 2004 SAC officials are appealing to the federal government and the cantons to come to the rescue if a century-old tradition is to be saved from financial collapse. The SAC has saved thousands of lives since it established a nationwide emergency service for climbers in 1901. Last year was the busiest in recent memory for the…

Sober Swiss develop a nose for homegrown wines

This content was published on Sep 17, 2004 A survey by Swiss Wine Communication, the industry’s promoting agency, found that 70 per cent of those polled consider Swiss wine to be of high quality. Seventy-seven per cent said imported wines were no better than Swiss vintages. In a similar study carried out five years ago, only 55 per cent of respondents awarded high…

National Bank raises interest rates again

This content was published on Sep 16, 2004 However, the SNB said it would react to any strong upward pressure on the franc as a result of the decision. The SNB said it would increase the target range for the three-month Libor rate (London Interbank Offered Rate) by a quarter of a percentage point, to 0.25-1.25 per cent. “Economic activity in Switzerland is…

Geneva scheme offers hope for working mothers

This content was published on Sep 16, 2004 Geneva is the only Swiss canton to offer such benefits and local officials say the system’s success proves that it could work nationwide. “On a cantonal level, the experience for workers and employers has been very positive,” said Pierre-Antoine Gobet, of Geneva’s Health and Social Services Department. “Financially, politically and socially, it has proven very…

Revived Richemont appoints new boss

This content was published on Sep 16, 2004 Richemont, the world’s second-largest luxury goods maker, also announced a 17 per cent rise in sales for April to August – well above market expectations. Executive chairman Johann Rupert We have now reached turnaround point. But the company warned that, while the market for luxury goods is now definitely picking up after a three-year recession,…

Wind energy blows back on course

This content was published on Sep 16, 2004 The authorities are seeking to win over environmental organisations, which have in the past criticised wind turbines as a blot on the landscape. In 2003 the Swiss threw out two popular initiatives which had sought to abandon nuclear power in favour of alternative sources of energy. But rising oil prices have since led the government…

Bankers cautiously optimistic about the future

This content was published on Sep 15, 2004 However, they warn that earnings growth will slow in the second half of 2004 after a run of record profits in the first six months. “The high point of this year’s global economic rally appears to be past,” said Pierre Mirabaud, chairman of the Swiss Bankers Association (SBA), at Wednesday’s annual media conference in Zurich.…

Testing times for Swiss-Italian relations

This content was published on Sep 15, 2004 In an interview with swissinfo, Alexis Lautenberg, the Swiss ambassador to Rome, looks back on an eventful five years in the Italian capital. Lautenberg, who from 1993-1999 conducted the government’s difficult negotiations with the European Union, is being transferred to London. His five-year stay in Rome coincided with a number of spats between the two…

Bankruptcies rise to record level

This content was published on Sep 15, 2004 Nearly 7,000 applications for insolvency were lodged in the first eight months of the year – the highest number on record. Corporate failures rose by 8.8 per cent during the period from January to August 2004, according to research conducted by the Swiss business information agency, Creditreform. Last month alone 348 companies were forced into…

Swiss car market gears up for competition

This content was published on Sep 15, 2004 Observers are predicting an increase in the number of new and cheaper cars and parts imported from the European Union. The Swiss have been able to buy their cars in the EU since 1999. All it takes is a compliance certificate and the payment of four per cent tax and 7.6 per cent VAT. At…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Mountain rescuers seek cash lifeline

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Sober Swiss develop a nose for homegrown wines

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National Bank raises interest rates again

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Geneva scheme offers hope for working mothers

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Revived Richemont appoints new boss

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Wind energy blows back on course

More

Bankers cautiously optimistic about the future

More

Testing times for Swiss-Italian relations

More

Bankruptcies rise to record level

More

Swiss car market gears up for competition

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