Archive – Banking & Fintech

Ascom’s fortunes boosted by French railway deal

This content was published on Jul 22, 2003 On Tuesday the Bern-based firm said it had signed a €50 million (SFr77 million) deal to supply the French rail operator, SNCF, with automated train station gates. The ten-year contract with SNCF follows a similar order from transport authorities in Montreal, Canada, worth SFr67 million. Analysts believe the two deals are a sign that the…

Costlier healthcare is no new phenomenon

This content was published on Jul 22, 2003 Figures released by the Federal Statistics Office show the cost of health insurance and services rose at twice the cost of living over the period 1960-2000. The report does not consider the development to be an “explosive” increase. Instead it links more expensive medical treatments and hospital stays to increased demand for higher standards of…

Novartis records solid first six months

This content was published on Jul 21, 2003 The Basel-based pharmaceutical firm said the increase over the same period last year was helped by strong sales, which rose 20 per cent in dollar terms. Novartis said it had seen strong growth in pharmaceuticals (+18 per cent) and generics (+87 per cent), which lifted first-half sales to $11.9 billion. Figures were boosted by Novartis’…

Hot weather brings smiles and a few tears

This content was published on Jul 19, 2003 The heat has come on the tail end of the driest six-month period ever recorded in Switzerland. The first half of the year saw little in the way of rainfall across much of the country. Record lows were registered in towns such as Zermatt, Delémont, Fribourg, and Bellinzona. The last time so little rain fell…

Quality of hospital care is hidden from patients

This content was published on Jul 18, 2003 At present Swiss hospitals are responsible for carrying out internal reviews, the results of which are not open to outside scrutiny. All public hospitals in Switzerland are obliged to conduct some sort of assessment under a federal law on health insurance and quality assurance – or else they lose their funding. But they are under…

Low-cost airlines circle for Swiss cast-offs

This content was published on Jul 18, 2003 Moritz Suter, well known in Switzerland as the founder of Crossair, said he would start with regular services between Geneva and Lugano. The new airline will begin offering three flights per day from October 28 on a Saab 2000. The move follows last week’s announcement by Swiss that it will reduce its number of destinations…

Superscanner rewrites book on the printed word

This content was published on Jul 17, 2003 The machine is already in use at Stanford University in the United States where it is digitising the library’s eight million books at a cost of $250 million (SFr343 million). The robot – named “4DigitalBooks” – has been developed and manufactured by Assy, based near Neuchâtel. It can scan books or magazines of any size…

Hot weather puts ice cream makers in a sweat

This content was published on Jul 17, 2003 Sweltering consumers have emptied warehouses, and manufacturers are working overtime to replenish stocks. Sales in Switzerland traditionally peak between April and September, depending on weather conditions. But the recent heatwave saw reserves melt away even before the official start of summer on June 21. Manufacturers say production reached record levels last month – the hottest…

Swiss start talks with new EU members

This content was published on Jul 17, 2003 But the talks are being clouded by the threat of a referendum in Switzerland on the changes – which may stop the process altogether. The free movement accord, which relaxes restrictions governing the employment of EU citizens in Switzerland, is one of seven bilateral agreements between Bern and Brussels. The other six will be extended…

World’s first share museum opens in Switzerland

This content was published on Jul 17, 2003 A selection of more than 7,000 share certificates, some up to 400 years old and from around the world, will be on permanent display. More than just pieces of paper, the shares reflect the emergence of European colonialism, industrialisation and modern capitalism. “It’s fascinating. With the help of securities you can actually follow the economic…

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