Archive – Banking & Fintech

Levitating train fails to get off the ground

This content was published on Nov 18, 2002 Some of its main supporters are pulling out of the project and its capital has shrunk dramatically. The kiss of death appears to have been a newspaper interview in which the Swiss transport minister, Moritz Leuenberger, said he no longer believed in the scheme. The Employers Federation in French-speaking Switzerland is withdrawing from the project,…

Swiss Life aims to raise SFr1.1 billion

This content was published on Nov 18, 2002 The company said on Monday it would issue 10,839,704 shares in a rights offering expected to raise SFr856 million. The new shares have been priced at SFr79 – a discount of more than 50 per cent on Friday’s close of SFr160. A convertible offering is set to raise a further SFr200-SFr250 million. Switzerland’s largest life…

Swiss banks set sights on Muslim customers

This content was published on Nov 16, 2002 UBS, Switzerland’s biggest bank, recently became the first Western bank to open a branch operating under Sharia law in an Islamic country. “By setting up Noriba bank in Bahrain, UBS has opened up Swiss banking to Muslims who want to use Sharia banking practices,” financial expert Gian Trepp told swissinfo. Switzerland already houses a number…

Bankers cut their losses after hours

This content was published on Nov 16, 2002 swissinfo’s Dale Bechtel prowled around Zurich’s traditional and trendy bars and discovered that traders, investors and asset managers are still savouring fine wines, whiskies and cigars. “No banker wants to admit that they’ve got a problem – to say ‘listen, I’m not earning as much as two years ago’ – so they’re pretending they can…

Credit Suisse faces questions from Swiss bourse

This content was published on Nov 15, 2002 This follows allegations that the group leaked information to financial analysts about its third quarter figures before their release on Thursday. “We have started an initial investigation to see what really happened,” the Swiss Exchange spokesman Leo Hug said on Friday. “We will go to them and see if there is reason to start a…

Gourmets line up for cheese fair

This content was published on Nov 15, 2002 The entire exhibition is devoted to one of Switzerland’s most famous products with over 450 Swiss cheeses on show as well as 250 foreign cheeses. Cheese of all kinds, from traditional gruyère, emmental and sbrinz to smoked schönriederli can be tried and bought at the cheese fair, called Fromage, which is taking place at Bern’s…

Generic drugs deal moves step closer

This content was published on Nov 15, 2002 Meeting in Australia, 25 members of the World Trade Organization – including Switzerland – said they hoped a deal could be struck by December 31. Switzerland was represented by the economics minister, Pascal Couchepin, at the informal meeting, which is part of an ongoing attempt by WTO members to push ahead with a new trade…

Ski season begins thanks to early snow

This content was published on Nov 15, 2002 Zermatt, Verbier and Grindelwald are among the first reporting good ski conditions. Half of the lifts in Zermatt are running, while Verbier is reporting good conditions in the upper reaches. Skiers wanting to get a head start on the season at Verbier can make their first curves in the Lac des Vaux and Mont-Fort areas.…

Credit Suisse reaches bottom

This content was published on Nov 14, 2002 The group’s share price rallied on Thursday, after analysts said they expected Switzerland’s second largest bank to return to profitability next year. Credit Suisse avoided incurring market wrath by warning of substantial losses well in advance of Thursday’s figure. The scale of the third-quarter loss dwarfed last year’s deficit of SFr299 million. “The figures are…

Campaigners say keep water public

This content was published on Nov 14, 2002 Swiss unions and charities say water supply and price would be severely jeopardised if the authorities were to yield to pressure and liberalise the market. Under the banner “Water: a public utility”, the campaign hopes to keep water out of private hands, both in Switzerland and around the world. “Hard facts do not support the…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Levitating train fails to get off the ground

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Swiss Life aims to raise SFr1.1 billion

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Swiss banks set sights on Muslim customers

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Bankers cut their losses after hours

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Credit Suisse faces questions from Swiss bourse

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Gourmets line up for cheese fair

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Generic drugs deal moves step closer

More

Ski season begins thanks to early snow

More

Credit Suisse reaches bottom

More

Campaigners say keep water public

Popular Stories

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