Archive – Banking & Fintech

Borer urges bolder Swiss approach to business

This content was published on Mar 15, 2002 Speaking at the world’s largest fair – the annual CeBIT technology and communications exhibition in the city of Hannover – Borer said that discretion had served Switzerland well over centuries. However, today’s international competition, which he described as “a real shark pool”, called for a greater emphasis on what he described as “continuous learning”. Borer…

Swiss firms turn out in force for CeBIT

This content was published on Mar 15, 2002 CeBIT might not have the “gold rush” euphoria of previous years, with the current downturn in the industry, but it still ranks as the place to be for anyone in the information technology business. More than 850,000 people are expected to visit the stands of about 8,000 exhibitors from 100 countries, which are housed in…

Unexpected tunnel closure leaves truckers stranded

This content was published on Mar 14, 2002 Ticino police unexpectedly closed the Gotthard and San Bernardino tunnels for seven hours to trucks travelling north, following heavy congestion. The tunnels were shut after a 15-kilometre traffic jam had built up on the south side of the Gotthard tunnel on Wednesday evening. The move was heavily criticised by both the Swiss and Italian hauliers…

No surprises in latest EVCA survey and outlook

This content was published on Mar 14, 2002 The amount invested in private equity transactions in 2001 totals some €23 billion, according to preliminary data announced at the European Venture Capital Association annual investors’ conference on March 13. The data is based on 606 responses from venture capitalists (46 per cent response rate and no estimates made) in a survey conducted by PricewaterhouseCoopers…

Parliament calls for inquiry into Swissair collapse

This content was published on Mar 14, 2002 Politicians voted in favour of a proposal – tabled on Thursday by the centre-right Christian Democratic Party – to begin an urgent investigation into the collapse of the country’s flagship carrier. The proposal has still to be approved by the Senate before the inquiry can proceed. Parliamentarians are keen to establish whether any blame can…

Public purse puts Expo back on track

This content was published on Mar 14, 2002 One week after the House of Representatives approved additional funding worth SFr120 million, the Senate on Thursday followed suit. The financial crisis was the latest in a series of problems which have beset exhibition organisers. Difficulties over the funding and management emerged in the planning stage, and led to the postponement of the exhibition from…

EMS Chemie considers withdrawing from Swiss bourse

This content was published on Mar 13, 2002 EMS-Chemie, which is headed by Switzerland’s right-wing populist politician, Christoph Blocher, said the withdrawal would depend on whether the company’s board could find a suitable private business partner. Blocher told the “Handelszeitung” newspaper on Wednesday that it would cost in the region of SFr1 billion to buy back the company’s shares. The billionaire politician and…

Insurance burden grows as global loss of life increases

This content was published on Mar 13, 2002 Swiss Re, the world’s second largest reinsurance company, also said in its survey that liability and life insurance losses relating to the September 11 terrorist attacks in the United States are now estimated at between $16.5 billion (SFr28 billion) and $39 billion. “2001 would have gone down as an average loss year had it not…

WAP gets wired by Swiss firm

This content was published on Mar 13, 2002 Making Internet services available through mobile phones is a big idea that is currently being realized across Europe. The “mobile Internet” is seen as a way for mobile network operator license holders to tap into the current mania for messaging and multimedia via the wired network. Now operators who have fixed network licenses, in addition…

SWISSINFO DEMO

This content was published on Mar 13, 2002 Limited impact Publicly, the Swiss banks are not panicking. They say the impact of the amnesty on business has been minimal. The Banco di Lugano says it has lost barely 1.7 per cent of its capital, while the Banca del Gottardo puts the figure at three per cent. Christoph Meier, a spokesman for UBS, said…

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