Archive – Banking & Fintech

Tumbling dollar bodes ill for Swiss exporters

This content was published on May 20, 2003 The slumping US currency threatens to further damage Switzerland’s already weak export sector, just as it is showing tentative signs of recovery. The dollar remained below SFr1.30 on Tuesday, following comments at the weekend by US Treasury Secretary, John Snow. His remarks, at a meeting of G-8 finance officials in France, appeared to suggest that…

Swiss visit reveals reality of life in North Korea

This content was published on May 20, 2003 Her tour of the communist country included stops in villages outside the capital, Pyongyang, to see how and where Swiss aid is targeted. The Swiss Agency for Development and Cooperation (SDC) began humanitarian operations inside North Korea in 1995, when it responded to a severe drought and famine by providing emergency food aid. A permanent…

Lonza to axe 500 jobs worldwide

This content was published on May 19, 2003 The announcement came as the Basel-based firm cut its 2003 earnings outlook by 20 per cent. “The group has begun to implement measures to improve efficiency and reduce overhead costs,” Lonza said in a statement on Monday. “Approximately 500 jobs, mainly in the United States and Europe, will be affected,” it added. Shares in the…

Weak economy blamed for vote outcome

This content was published on May 19, 2003 Newspapers blamed the weak economy, deteriorating public finances and impatience with the nanny state for voters’ rejection of seven of nine issues. The Zurich-based “Tages-Anzeiger” summed up the theme running through all the newspapers. “Nine-nil to the government,” it said. The paper commented that the outcome was a hard but not a totally unexpected blow…

Car-free Sundays head for the scrapyard

This content was published on May 18, 2003 Opponents had argued that a traffic ban would be economic suicide and could have a catastrophic effect on the ailing tourism industry. In the end the initiative only managed to garner just under 40 per cent of the vote. The group behind one the more light-hearted votes insisted its main goal was to give people…

Swiss happy with tenants’ rights

This content was published on May 18, 2003 On Sunday they threw out an initiative which would have keep rent increases in check and imposed tougher restrictions on landlords. Some 70 per cent of the population lives in rented accommodation. And nearly 70 per cent of those who voted in Sunday’s ballot rejected an initiative that would have greatly strengthened their position as…

Swiss leave school-leavers in same boat

This content was published on May 18, 2003 The government had urged a “no” vote even though it is becoming increasingly hard for Switzerland’s school-leavers to find jobs. The government’s argument was that the scheme would lead to administrative chaos. Most voters agreed, with about 70 per cent voting against the initiative. The Swiss white-collar workers union, which supported the initiative, said the…

Health reforms get short shrift

This content was published on May 18, 2003 The initiative, backed by the Social Democrats, would have brought the Swiss system into line with the rest of Europe. Nearly three-quarters of voters rejected the initiative, which would have pushed up considerably premiums for the wealthy. Social Democrat parliamentarian Franco Cavalli – who supported the initiative – said the current system was flawed because…

Voters throw out nuclear ban

This content was published on May 18, 2003 Voters rejected one initiative to extend the existing moratorium on building new plants and another to close down the industry altogether. Two-thirds voted against the anti-nuclear proposal “Strom ohne Atom”, which called for the complete closure of the country’s nuclear power stations by 2014. Almost 60 per cent rejected the “MoratoriumPlus” initiative, which sought an…

Bank rules slammed for costs to developing world

This content was published on May 18, 2003 Non-governmental organisations are urging the government to crackdown on tax evasion and ensure revenue is returned to developing countries. The campaign, involving 50 charities and NGOs from 20 countries, aims to raise awareness of the wider impact of the existence of “tax havens”. Campaigners accuse banking centres such as Switzerland, Luxembourg and the Channel Islands…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Tumbling dollar bodes ill for Swiss exporters

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Swiss visit reveals reality of life in North Korea

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Lonza to axe 500 jobs worldwide

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Weak economy blamed for vote outcome

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Car-free Sundays head for the scrapyard

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Swiss happy with tenants’ rights

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Swiss leave school-leavers in same boat

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Health reforms get short shrift

More

Voters throw out nuclear ban

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Bank rules slammed for costs to developing world

Popular Stories

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