Archive – Banking & Fintech

Skyguide back to full capacity

This content was published on Jul 23, 2002 Immediately after the tragedy, which saw two jets collide in Swiss-controlled airspace, the agency cut the number of flights it handles by 20 per cent. It cited safety reasons and the need to relieve staff who were under severe stress. Skyguide spokesman Roger Gaberell said on Tuesday that the agency was now running at 95…

Swisscom sitting pretty

This content was published on Jul 23, 2002 The decision by WorldCom, America’s second-biggest long-distance phone company, to file for bankruptcy has put the industry’s strategy of aggressive acquisition and the high prices paid for third-generation mobile phone licences under the spotlight. Swisscom was also swept up in the growth frenzy of the 1990s and invested abroad but subsequently made a number of…

Ticino-based GPS chipmaker closes SFr8.3 million first round

This content was published on Jul 23, 2002 Besides Atila Ventures’s ETV fund, Venture Incubator AG is also investing. The capital will be used by NemeriX to continue design and development of GPS chips, to strengthen “seed” customer relationships and to formally launch the company’s GPS chipset products. The company says its main product is a Global Positioning System (GPS) semiconductor solution. NemeriX’s…

Tecan announces job cuts

This content was published on Jul 23, 2002 The group said business had been hit by a slowdown in its key life sciences market and the strong Swiss franc. The news sent Tecan’s share price plunging more than 20 per cent during early afternoon trading on Tuesday, from SFr39 to SFr30.8. “While the implementation of our cost stabilisation programme has allowed us to…

Experts to examine safety of Swiss aviation

This content was published on Jul 23, 2002 The transport minister, Moritz Leuenberger, said on Monday independent aviation specialists – probably from Germany or France – would be charged with carrying out the review. The independent assessment is aimed at improving air traffic control and its efficiency, as well as reinforcing international cooperation. A final report is expected by the beginning of next…

ABB scores billion-franc Russian deal

This content was published on Jul 23, 2002 ABB announced the deal with Exxon Neftegas to develop onshore oil and gas processing and support facilities in Russia’s Far East on Monday. The contract is worth $987 million (SFr1.43 billion). The Sakhalin 1 project calls for the biggest direct foreign investment ever made in Russia. It covers three offshore oil and gas fields off…

SMI plummets to new lows

This content was published on Jul 22, 2002 Traders watching stocks tumble described the rout as “irrational trade”, as shares gave up the gains of the past five years. The Swiss index of leading blue chips was one of the biggest losers among European bourses, falling 5.6 per cent to close at 4,699. The move downwards followed heavy selling on Friday, which pushed…

Novartis defies downturn

This content was published on Jul 22, 2002 The Basel-based pharmaceutical group reported a three per cent increase in net income – to SFr3.848 billion ($2.66 billion) – compared with the same period last year. Sales rose by six per cent to SFr16,254 billion. Second quarter results were less impressive – net profit fell by eight per cent to SFr2.06 billion, dragged down…

Swiss surveillance catches up with email

This content was published on Jul 21, 2002 Since the beginning of 2002, all Swiss Internet service providers (ISPs) have been legally obliged to record the time, date, sender ID and receiver ID of all emails. While the information to be recorded does not include the content of emails, legal experts have expressed concern that the law poses an unnecessary threat to people’s…

Counting sheep on the Gemmi Pass

This content was published on Jul 21, 2002 The traditional festival has become a top summer attraction, drawing crowds to the pass which links the Valais spa of Leukerbad with the resort of Kandersteg in the Bernese Oberland. The event begins with a church service on the edge of a small lake, the Daubensee. Then at precisely 11am, the shepherds spending the summer…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Skyguide back to full capacity

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Swisscom sitting pretty

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Ticino-based GPS chipmaker closes SFr8.3 million first round

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Tecan announces job cuts

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Experts to examine safety of Swiss aviation

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ABB scores billion-franc Russian deal

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SMI plummets to new lows

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Novartis defies downturn

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Swiss surveillance catches up with email

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Counting sheep on the Gemmi Pass

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