Archive – Banking & Fintech

Parliament rejects GM crop moratorium

This content was published on Jun 12, 2003 The issue is now expected to be put to a nationwide vote. The House of Representatives followed the lead of the Senate which said “no” to a moratorium last week, as part of a revision of the country’s law on agriculture. This was the second time the House had voted on the issue, having previously…

Gruyère cheese receives seal of approval

This content was published on Jun 12, 2003 “The official registration of the Gruyère appellation d’origine will stand out as one of the important dates in the long history of this cheese,” Manfred Boetsch, the director of the office told a news conference. The announcement comes three years after four western cantons which produce Gruyère – Fribourg, Vaud, Neuchatel and Jura – requested…

Vintage TEE train back on track

This content was published on Jun 12, 2003 It has been put back into service much to the joy of train buffs and fans of 1960s design. The Heritage Foundation of the Swiss Federal Railways has restored the RAe TEE II, repainting it in its burgundy and cream livery and reinstating the original fixtures to turn it back into the luxury train that…

Millionaires on the rise in Switzerland

This content was published on Jun 11, 2003 Worldwide, the total number of millionaires grew more slowly by 2.1 per cent to 7.3 million. The global rise in people making the elite list was the lowest for seven years, according to “The World Wealth Report”, compiled by the United States investment bank, Merrill Lynch, and Cap Gemini Ernst & Young, the financial consultants.…

Credit Suisse sells Churchill Insurance

This content was published on Jun 11, 2003 The £1.1 billion (SFr2.4 billion) deal is expected to be finalised in the third quarter of this year. In a statement, Switzerland’s second-largest financial group said the deal was an important step in repositioning Winterthur’s business portfolio. “The transaction provides Winterthur with more financial flexibility for selective growth and strengthens the capital base of Winterthur…

Rewe ranks as one of Europe’s distribution giants

This content was published on Jun 11, 2003 But most of the Cologne-based group’s sales are still made in Germany. Rewe was founded in Cologne in 1927 and is now owned by some 3,000 independent merchants. Last year, the group made total net sales of SFr57.5 billion ($43.8 billion), of which almost SFr49 billion consisted of sales in Germany. Of Rewe’s total 11,000…

German retailer gobbles up Swiss food group

This content was published on Jun 11, 2003 The move comes several months after Carrefour, another European distribution giant, launched its own assault on the Swiss market. Bon Appetit is the third-largest retailer of food and household goods in Switzerland and has a workforce of about 5,000. Its businesses include catering supplies and food franchise outlets. Rewe, which is based in Cologne, bought…

Mbeki visit highlights burgeoning trade ties

This content was published on Jun 10, 2003 Switzerland has become an important trade partner for South Africa, investing SFr777 million ($590 million) since 1994, but has still to shake off the controversy over apartheid-era links. Nine Swiss companies – including the banks UBS and Credit Suisse, as well as Novartis and Nestlé – are among a group of international firms targeted by…

Swiss shipping company stands accused

This content was published on Jun 10, 2003 They accuse the Mediterranean Shipping Company (MSC) of sending vessels contaminated with toxic materials to developing countries. The protesters called on the Geneva-based firm to sign an agreement promising to clean up all its ships before sending them to be scrapped. “Every year about 700 toxic ships are being scrapped in the scrapyards of Asia,…

Petrol consumption set to meet targets

This content was published on Jun 10, 2003 The car industry says it is well on track to meet the target of 6.4 litres per 100km agreed between the government and car importers for 2008. “At 8.1 litres, we have more or less reached our target for last year,” Hans-Peter Schick, director of the Swiss car importers association told swissinfo, referring to the…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Parliament rejects GM crop moratorium

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Gruyère cheese receives seal of approval

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Vintage TEE train back on track

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Millionaires on the rise in Switzerland

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Credit Suisse sells Churchill Insurance

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Rewe ranks as one of Europe’s distribution giants

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German retailer gobbles up Swiss food group

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Mbeki visit highlights burgeoning trade ties

More

Swiss shipping company stands accused

More

Petrol consumption set to meet targets

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