Archive – Banking & Fintech

Swiss Re roars back into profit

This content was published on Mar 25, 2004 Thursday’s result ended a two-year losing streak. The Zurich-based firm posted a loss of SFr91 million in 2002. The reinsurer adjusted its targets upwards, saying it expected profit to rise over the next three years on the back of better non-life results and higher investment returns. Asked whether profit would exceed the SFr2 billion mark…

Hip-hop chef raps his way to the top

This content was published on Mar 25, 2004 The brash newcomer raps while he woks, mixing beats with flavours as he serves up dishes to make the taste buds dance. “I’m a walking food laboratory,” says Adam with a boyish grin, as he twirls a pepper mill in the air and raps out a spaghetti recipe in three and a half minutes –…

Swatch posts flat profit but remains upbeat

This content was published on Mar 25, 2004 The figure was in line with analysts’ predictions, but the world’s biggest watchmaker said it expected better sales this year. Sales fell two per cent to SFr3.98 billion in 2003. In a statement on Thursday, Swatch said the group result had been helped by marked improvements in the second half of 2003 as the group’s…

Swisscom doubles profit

This content was published on Mar 24, 2004 The company also announced that it would be buying back SFr2 billion ($1.6 billion) worth of shares. In a statement released on Wednesday, Swisscom said its net income had increased by 90.4 per cent to SFr1.57 billion in 2003. This was up from SFr824 million the previous year, when earnings were hit by a large…

Novartis ready to bid for Aventis

This content was published on Mar 23, 2004 But the Basel-based firm said such a move was conditional on Aventis giving it the green light, and the French government not getting involved. Aventis is fighting off a hostile takeover offer from France’s Sanofi-Synthélabo currently worth around €46.2 billion (SFr71.7 billion). Novartis said in a statement on Tuesday that it had completed a feasibility…

Organic revolution slows in Switzerland

This content was published on Mar 23, 2004 But the increase that the organic market has been experiencing over recent years is slowing. Bio Suisse, the Swiss association for organic organisations, said total sales of organic produce increased by seven per cent in 2003. But growth was slower than in 2002, when sales increased 13 per cent over the previous year. Bio Suisse…

Swiss says it has funds to keep flying

This content was published on Mar 23, 2004 This guarantee allowed Swiss to clinch a SFr50 million ($40 million) credit agreement with London-based Barclays Bank earlier this month. Announcing its annual results on Tuesday, Swiss said it had enough liquidity to keep flying but kept quiet about who might be replacing former CEO, André Dosé. Dosé stepped down on March 10 after becoming…

Tourism boss warns against false economies

This content was published on Mar 19, 2004 Dick Marty told swissinfo that trying to save money by cutting funds used to promote tourism abroad was irresponsible and a false economy. The rightwing cabinet minister didn’t succeed in cutting Marty’s budget to that extent – in the end, the government decided to give the tourist board SFr200 million for to market tourism for…

Ciba moves to strengthen its paper business

This content was published on Mar 19, 2004 Basel-based Ciba said the deal would strengthen its position as a leading paper industry chemicals supplier. A statement from Ciba, whose products include dyes for compact discs and red pigments for Ferraris, on Friday said the move brought together two complementary paper chemical supply businesses. Raisio Chemicals, which makes starch and latex binders to improve…

Swiss plan to ban spam

This content was published on Mar 19, 2004 The software giant, Microsoft, has joined forces with politicians to draft legislation which has just been presented to the Swiss parliament. The law would make it illegal for Swiss companies to send unsolicited messages to individuals unless they are already a customer or have given their permission. Sixty-two per cent of all emails sent worldwide…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Swiss Re roars back into profit

More

Hip-hop chef raps his way to the top

More

Swatch posts flat profit but remains upbeat

More

Swisscom doubles profit

More

Novartis ready to bid for Aventis

More

Organic revolution slows in Switzerland

More

Swiss says it has funds to keep flying

More

Tourism boss warns against false economies

More

Ciba moves to strengthen its paper business

More

Swiss plan to ban spam

Popular Stories

Most Discussed