Archive – Banking & Fintech

Inventors bring their dreams to market

This content was published on Apr 12, 2003 Over 1,000 devices – from medical and military lifesavers to the downright bizarre – have been on show at the International Exhibition of Inventions. Among this year’s more noteworthy creations were the anti-mine shoe, a French invention which uses electro-stimulation to prevent the user from stepping on landmines, and a Russian system which allows open-heart…

Entrepreneur turns paging into mobile messaging biz

This content was published on Apr 11, 2003 The fact that the firm’s founder, Naveen Varshneya, was born in India and did not have a network of family and old school chums here to tap into did not deter him in his entrepreneurial endeavour. Presented with the opportunity in 2001 to acquire PageIt, a tiny Swiss paging service, from Distefora, an imploding dotcom…

The post rider of Lauenen

This content was published on Apr 11, 2003 In Lauenen, a small village of 700 residents near the ski resort of Gstaad, up to 15 houses are frequently cut off from the world by deep snow. For days on end, Willi Addor, the postman, and his trusty steed are their only visitors. Stallion-studded career Addor sits tall in the saddle, dressed in his…

Aid agencies demand access to Iraqi people

This content was published on Apr 11, 2003 Two agencies have even criticised the military for hampering aid efforts. “In the areas controlled by coalition forces, the victors must feed the people but military humanitarian aid is not independent,” Karl Schuler from the Swiss Red Cross told swissinfo. He said that aid had to be distributed fairly, so that the weakest were also…

Success in Iraq obscures reality of weak economy

This content was published on Apr 10, 2003 The Swiss economics minister, Joseph Deiss, on Thursday warned that Switzerland’s economic health is threatened by poor growth. “Our general [economic] fitness is not very good, and we need to work on growth issues,” Deiss told swissinfo. Deiss’s comments were underlined by a leading Swiss growth barometer, produced by the Zurich-based Swiss Business Cycle Research…

Von Roll widens loss in 2002

This content was published on Apr 10, 2003 On Thursday, the Zurich-based firm also announced the sell-off of its foundry business. Von Roll said economic uncertainty had contributed to a 24 per cent drop in sales in 2002 to SFr1.21 billion from SFr1.61 billion in 2001. “Over the past year, all three of the group’s divisions found themselves facing tough market conditions,” the…

Saddam’s successor has controversial Swiss past

This content was published on Apr 9, 2003 But his past is clouded by unsavoury financial dealings in Switzerland. On Wednesday, Saddam Hussein’s government lost control of Baghdad, after the Iraqi capital fell to United States-led forces. Chalabi ran the Geneva branch of the Lebanese bank, Mebco, which was shut down by the Swiss Federal Banking Commission in 1989. Mebco is part of…

Switzerland tightens grip on Iraqi assets

This content was published on Apr 9, 2003 The decision came in response to a request from the United States to prevent the withdrawal of any Iraqi government or corporate funds. Swiss officials said the measures would not apply to ordinary Iraqi citizens holding bank accounts in Switzerland. The foreign ministry added that the action complied with US demands that assets of the…

Holcim unveils new share structure and chairman

This content was published on Apr 9, 2003 The group said the measure was aimed at treating all investors equally. In another Board decision, Holcim has named a new chairman to succeed major shareholder Thomas Schmidheiny, who stepped down definitively in February after paying a fine for insider trading in Spain. However, Schmidheiny – who vacated the position of chairman last June –…

Beleaguered Swiss battles to fill seats

This content was published on Apr 9, 2003 Faced with war in Iraq, the Sars pneumonia virus and industry overcapacity, experts are warning that the airline’s future has never been shakier. On Wednesday, Swiss said it had carried a total of 2.7 million passengers during the first three months of 2003. Its average seat load factor was 67.9 per cent. “Swiss continues to…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Inventors bring their dreams to market

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Entrepreneur turns paging into mobile messaging biz

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The post rider of Lauenen

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Aid agencies demand access to Iraqi people

More

Success in Iraq obscures reality of weak economy

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Von Roll widens loss in 2002

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Saddam’s successor has controversial Swiss past

More

Switzerland tightens grip on Iraqi assets

More

Holcim unveils new share structure and chairman

More

Beleaguered Swiss battles to fill seats

Popular Stories

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