Archive – Banking & Fintech

Massaging away the motorway blues

This content was published on May 26, 2003 It is employing what is claimed to be Europe’s first ever motorway masseur to knead away the strains and stresses of life on the open road. Andreas Nägeli has set up shop in a service station on the A1 at Würenlos near Baden, and he claims his back rubs make drivers less tense, more awake,…

Swiss propose plan for fair supply of water

This content was published on May 26, 2003 But non-governmental organisations claim the only way to ensure water reaches everyone is to keep it in public hands. The group includes the Swiss Agency for Development and Cooperation (SDC) and the State Secretariat for Economic Affairs (Seco), along with a number of private companies, including Switzerland’s second-largest insurer, Swiss Re. The plan is intended…

Life-saving work earns biologist top award

This content was published on May 25, 2003 When a non-native insect threatened to wipe out the continent’s cassava crop, Herren came up with a natural – and award-winning – answer. His work has now won him the 2003 Tyler prize for Environmental Achievement. Herren, who was born in Mühleberg near Bern, was just 31 years old when he took a new job…

Government offers support for smaller firms

This content was published on May 23, 2003 The economics minister, Joseph Deiss, said his department was willing to act as a point of contact for SMEs, which have been hit hard by the economic downturn. The announcement comes after a new study showed that Switzerland’s major banks have been squeezing the credit lines for smaller businesses. Many SMEs complain about the restrictive…

UBS boss blames peers for denting trust in markets

This content was published on May 23, 2003 The head of Switzerland’s biggest bank, speaking at the St Gallen Management Symposium, took aim at his peers for undermining investor confidence. “The image of the financial markets has been unnecessarily tarnished,” said Ospel. His comments are also being seen as a thinly veiled swipe at UBS rival Credit Suisse. Although Ospel never named his…

Central bank downplays sliding dollar

This content was published on May 21, 2003 The franc has risen to its highest level in seven years against the dollar, increasing the pressure on Switzerland’s export-dependent economy. “The Swiss National Bank has demonstrated several times in recent months that it does not hesitate to take decisive policy measures in such a case,” said Ulrich Kohli, the bank’s chief economist. “It is…

Anti-tobacco convention adopted in Geneva

This content was published on May 21, 2003 It was concluded during a session of the World Health Assembly, the decision-making body of the World Health Organization (WHO), which is also focusing on the fight against the Sars pneumonia virus. The Framework Convention on Tobacco Control aims to curb cancer and chronic heart disease by limiting the advertising, promotion, sale and smuggling of…

Centerpulse considers US counter-offer

This content was published on May 21, 2003 On Wednesday the Zurich-based company confirmed it was considering an offer from Zimmer worth around SFr4.26 billion ($3.3 billion). Zimmer’s bid includes a cash offer of SFr120 per Centerpulse share, plus 3.68 Zimmer shares for every Centerpulse share. The deal values Centerpulse at around SFr350 per share. Zimmer’s bid has outstripped an offer made in…

Dollar tumbles to seven-year low against franc

This content was published on May 20, 2003 Experts say the prices of Swiss goods on the global market are likely to drop in the near future as a direct result. The United States currency has also lost nearly 40 per cent of its value against the euro in the past two years. A prolonged fall in the value of the dollar could…

The steely hand that built a Swiss chip star

This content was published on May 20, 2003 The Swiss electrical engineer and his co-founder took the firm from null to SFr125 million in eight years. Stahl did nothing by the book because the book had not been written yet. He acquired companies many times the size of his own, not once but twice. Further, he relied too much on one customer, went…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Massaging away the motorway blues

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Swiss propose plan for fair supply of water

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Life-saving work earns biologist top award

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Government offers support for smaller firms

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UBS boss blames peers for denting trust in markets

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Central bank downplays sliding dollar

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Anti-tobacco convention adopted in Geneva

More

Centerpulse considers US counter-offer

More

Dollar tumbles to seven-year low against franc

More

The steely hand that built a Swiss chip star

Popular Stories

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