Archive – Banking & Fintech

Unequal taxation system linked to Swiss federalism

This content was published on Aug 22, 2002 There are vast differences in tax levels among the cantons. While an unmarried resident of canton Zug – the favoured home of Switzerland’s crop of billionaires – is required to pay only SFr4,682 in tax on an income of SFr70,000, his or her less fortunate compatriot in Basel has to part with the sum of…

Machine industry facing tough times

This content was published on Aug 22, 2002 One of the many companies feeling the pinch after posting record results last year is the Fritz Studer grinding machine company, near Thun. The number two worldwide in its field, Studer is bracing itself for a tough time as the order books are not filling up as fast as before. “Last year was an extremely…

Lombard brings forward job cuts

This content was published on Aug 21, 2002 Jacques Rossier, a managing partner at Darier Hentsch, which merged with Lombard Odier, said at the time of the tie-up that no jobs would go this year. The bank said in a statement that half of the 300 jobs would go by the end of the year, with the remainder being cut by 2004. The…

An autumn harvest of attractions

This content was published on Aug 21, 2002 Switzerland Tourism has launched its autumn campaign with a choice of attractive packages. They range from hotel and hiking packages in the Engadine and Bernese Oberland and wine tasting tours in Switzerland’s largest wine growing region – canton Valais -to cultural excursions in the historic towns on the shore of Lake Geneva. Autumn in Switzerland…

Ciba bucks trend with increased profits

This content was published on Aug 21, 2002 The company, one of the world’s largest specialty chemicals groups, said sales were pushed down five per cent to SFr3.68 billion by a strong Swiss franc. Cost cutting measures combined with improved sales helped the company’s results, according to a statement released by the company. Ciba, one of the world’s largest specialty chemicals groups, said…

Jewellery set to bring sparkle to Swatch sales

This content was published on Aug 21, 2002 Swatch is hoping that its diversification into branded jewellery will make up ten per cent of sales within the next four to five years. The company hopes to grab a chunk of the global jewellery market, estimated to be worth about $150 billion (SFr225 billion) per year. “One of the reasons we’ve entered this new…

Strong franc hits Swatch profit

This content was published on Aug 21, 2002 The company – which produces mass market watches along with several luxury brands – blamed the strong Swiss franc and sluggish sales of luxury goods. The group, which includes the Breguet, Omega and Swatch brands, saw profit drop to SFr206 million ($137 million) in the first half of the year. In a statement from its…

Making a living the hard way

This content was published on Aug 21, 2002 swissinfo’s Julie Hunt paid a visit to the Piller family, which is facing an uncertain future on the pastures of Charmey in canton Fribourg. There are 30 Gruyère cheese producers in this region, and about a dozen of them are families eking out a meagre existence in Alpine huts. It is the simplicity of mountain…

Alpine farmers threatened with extinction

This content was published on Aug 21, 2002 An international conference underway in the Bernese Oberland resort of Lenk is highlighting the importance of alpine farms to man and environment. Alpine farmers are confronted with sinking prices for their products, and they are having to adapt to new regulations, which require them to invest more money in their farms and to change their…

Nestlé holds steady despite downturn

This content was published on Aug 21, 2002 But the bottom line was boosted mainly by disposals and the company’s partial flotation of its eye care unit, Alcon. While net profit was above analysts’ forecasts, first-half sales were at the lower end of expectations. Sales rose 7.2 per cent to SFr44.2 billion, helped along by last year’s $10 billion acquisition of United States…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Unequal taxation system linked to Swiss federalism

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Machine industry facing tough times

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Lombard brings forward job cuts

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An autumn harvest of attractions

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Ciba bucks trend with increased profits

More

Jewellery set to bring sparkle to Swatch sales

More

Strong franc hits Swatch profit

More

Making a living the hard way

More

Alpine farmers threatened with extinction

More

Nestlé holds steady despite downturn

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