Archive – Banking & Fintech

Switzerland braced for oil shock

This content was published on Sep 12, 2002 But market jitters that a prolonged war could trigger a recession in Switzerland remain unfounded, according to economic observers. On Thursday, US president George W Bush warned the United Nations that the time for action against Iraq was now imminent. While experts fall well short of predicting a 1970s-style oil crisis, many warn that ordinary…

Swiss economy “stagnates”

This content was published on Sep 12, 2002 The State Secretariat for Economic Affairs (Seco) has published revised figures for 2001, showing economic contraction for the entire year. This year, gross domestic product – the value of all goods and services produced in the economy – dropped by an annualised rate of 0.2 per cent in the first quarter. Second quarter growth came…

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Euro proves to be an irritant

This content was published on Sep 12, 2002 They say the presence of too much nickel in the coins is to blame for the skin problems. The scientists from Zurich’s university hospital and the Federal Institute of Technology launched their study after people complained of adverse reactions to the one- and two-euro coins. Tests carried out at the hospital showed that people who…

Kudelski profits plunge

This content was published on Sep 12, 2002 The company blamed its poor results on the strong franc, saying “it had a significant impact on operations results.” The Lausanne-based company, which turned a profit of SFr21.8 million a year ago, had issued a profit warning in August. Kudelski, a leader in its field, saw revenues increase by 4.5 per cent to SFr167.7 million,…

Global insurance stretched by September 11

This content was published on Sep 11, 2002 However, the Geneva Association reports that the industry will be able to cover payouts resulting from the attacks. The Geneva-based body, a non-profit organisation counting up to 80 chief executives from the world’s most important insurance companies, estimates that the bill for the industry will be SFr60-75 billion ($40-50 billion). At a news conference on…

Hotel industry laments falling bookings

This content was published on Sep 10, 2002 While few industry observers were surprised that hotel bookings collapsed after the attacks, the hangover has persisted. And recovery seems a long way off. This summer, European visitors to Switzerland booked some 1.38 million nights – almost ten per cent fewer than last year. But the real pain is being felt by the absence of…

Tourism still suffering aftershocks of September 11

This content was published on Sep 10, 2002 Switzerland’s tourism industry has been particularly hard hit, although operators are divided about whether the attacks are the primary cause for the slowdown. Most tourism operators take the view that aftershocks of September 11 are not the sole reason for the industry’s difficult year, but that they have exacerbated the impact of an already slowing…

Pro-active Swiss battle for tourist dollar

This content was published on Sep 10, 2002 Swiss Tourism has launched a major campaign to buck the trend. In terms of overnight stays in Swiss hotels, the Americans have traditionally come second only to the Germans. Since September 11, though, they have slipped to third place, behind the British. Americans tend to outspend their European counterparts. On average a US tourist spends…

Ascom sheds jobs amid spiralling losses

This content was published on Sep 10, 2002 The Bern-based company blamed unplanned write-offs against goodwill and real estate. The cuts will affect group support functions, including headquarters, IT services, communications, personnel services and financial services. Ascom, which made a loss of SFr26 million in the corresponding period last year, has been going through a heavy restructuring programme. The company said in a…

Desperately seeking digs

This content was published on Sep 8, 2002 Hundreds could find themselves without a roof over their head when the new academic year starts in October. University officials in both cities, however, say it is still too early to say precisely how many students will be homeless come the start of term in October. All, though, agree that the situation is as critical…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Switzerland braced for oil shock

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Swiss economy “stagnates”

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Euro proves to be an irritant

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Kudelski profits plunge

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Global insurance stretched by September 11

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Hotel industry laments falling bookings

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Tourism still suffering aftershocks of September 11

More

Pro-active Swiss battle for tourist dollar

More

Ascom sheds jobs amid spiralling losses

More

Desperately seeking digs

Popular Stories

Most Discussed