Archive – Banking & Fintech

Troubled Converium serves up more bad news

This content was published on Aug 31, 2004 The Zurich-based firm also announced on Tuesday that its reserves needed an additional $100 million top-up. It is the third disappointment to hit the markets and the company’s share price in the past six weeks. On July 20 the company issued a profit warning that sent its stock plummeting by more than 50 per cent.…

Swiss trade with US continues to decline

This content was published on Aug 30, 2004 Officials warn that no upturn can be expected for at least the next 18 months. At its annual press conference in Zurich on Monday, the chamber reported that Switzerland’s trade surplus with the US was at an all-time high, reaching a record SFr8.4 billion ($6.56 billion) in 2003. Swiss exports to the US declined by…

Swiss Post faces uncertain future

This content was published on Aug 27, 2004 The state-run giant says email and increasing competition are taking their toll on the country’s postal services. Created in 1848 following the unification of cantonal postal services, Swiss Post enjoys a reputation for punctuality and reliability both at home and abroad. Business appears to be booming. Its latest results, published on Thursday, show that the…

Chinese tourism survey

This content was published on Aug 27, 2004 But to capitalise on the Chinese market, regions and resorts will likely have to invest in infrastructure and become a little more hospitable. Lucerne, which has for many years geared itself towards the Asian market, is along with the nearby cable and mountain railway companies, including Titlis, hoping to benefit most from visiting Chinese tour…

Switzerland rolls out red carpet for the Chinese

This content was published on Aug 27, 2004 Swiss tourism officials are welcoming the group with open arms, hoping it will be the start of a friendly invasion of Chinese which could restore the industry’s flagging fortunes. Officially “tourists”, the first group actually consists of about 60 government representatives, VIPs and Chinese journalists. After a welcoming ceremony on Saturday, the group will be…

The language of leadership is not always English

This content was published on Aug 27, 2004 swissinfo asked professor and former CEO, Fritz Fahrni, why the Anglo-Saxons had fallen from favour, and which qualities were needed to run a Swiss firm successfully. Over the past few years, Swiss firms have flirted with high-profile executives who were brought in to turn around their flagging fortunes during the economic downturn. North American and…

New ambassador sees way forward for South Africa

This content was published on Aug 26, 2004 In an interview with swissinfo, diplomat Viktor Christen says Pretoria has an important role to play in helping with the development of its poorer neighbours. Christen takes up his post on September 1 after four years as head of the Swiss mission in Colombia. He arrives in South Africa at a time of political stability…

Swiss Re doubles first-half profit

This content was published on Aug 26, 2004 The Zurich-based company said on Thursday that low claims and strong investment income had contributed to the better-than-expected result. It comes five months after Swiss Re announced a return to profit, reporting net income of SFr1.7 billion for 2003 after two years in the red. In the first six months of 2004 Swiss Re benefited,…

Swiss cyclists may be forced to wear helmets

This content was published on Aug 25, 2004 But the Federal Roads Authority plan has been criticised by cycling associations, who are calling for alternative measures. Cycling helmets come in all colours and sizes, and at a price most people can afford. But while they are widely available, they remain as unappealing for some riders as car seat belts are for a large…

Exports boost Swiss machinery sales

This content was published on Aug 25, 2004 But the sector’s umbrella organisation, Swissmem, said the industry needed to overhaul its work practices to remain competitive. Orders increased by 11.7 per cent during the first six months of the year over the same period in 2003. Sales gained seven per cent. A 17.2 per cent rise in orders from abroad compensated for a…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Troubled Converium serves up more bad news

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Swiss trade with US continues to decline

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Swiss Post faces uncertain future

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Chinese tourism survey

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Switzerland rolls out red carpet for the Chinese

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The language of leadership is not always English

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New ambassador sees way forward for South Africa

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Swiss Re doubles first-half profit

More

Swiss cyclists may be forced to wear helmets

More

Exports boost Swiss machinery sales

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