Archive – Banking & Fintech

Locarno celebrates fish festival

This content was published on Mar 1, 2002 The festival is always held on the second Sunday in March (March 10 this year), when hobby fishermen set out in boats from Muralto on the outskirts of Locarno at daybreak, or cast their lines from shore. The fishermen participate in different categories, but their goal is the same as for fishermen the world over…

Swiss puts down roots in Oz

This content was published on Mar 1, 2002 The 48-year-old Biel-born executive is already gearing up to swap his air-conditioned office in Sydney’s business district for a dusty outdoor lifestyle. For the past couple of years, he has been the proud owner of a vineyard about 300 kilometres from Sydney in the Mudgee region, where he spends all his free time. “I simply…

Top album sellers in Switzerland

This content was published on Mar 1, 2002 The rock band Gotthard and the Swiss-German singer Gölä came top of the chart for Swiss artistes, each selling 120,000 copies of their respective albums “III” and “Homerun”. But the biggest-seller overall was the album “Stilelibero” by the Italian singer Eros Ramazzotti, which earned a “quadruple platinum” award with sales reaching 160,000. In Switzerland, the…

Downturn fails to dampen Nestlé numbers

This content was published on Feb 28, 2002 Net profit was up 15.9 per cent to SFr6.68 billion ($3.91 billion) with group sales up 4.1 per cent to SFr84.76 billion. The Vevey-based company said real internal growth – its own benchmark which strips out the impact of price changes, acquisitions and exchange rate fluctuations – rose 4.4 per cent. This was above analysts’…

Euro enjoys smooth transition

This content was published on Feb 28, 2002 The euro is now the only legal tender in 12 countries of the European Union as the transition period that began on January 1 comes to an end. Eurosceptics, who predicted financial and economic chaos, have so far been wide of the mark. The smooth changeover has surprised no one in Switzerland, which retains its…

Enron traders reportedly turn their backs on UBS

This content was published on Feb 28, 2002 The report says that some of Enron’s most successful energy traders are set to quit the unit, which UBS recently acquired. It adds that at least six wholesale energy traders, including Enron’s former chief natural gas trader and the head of the options desk have turned down offers to stay. The newspaper said one of…

Syngenta profit holds steady but sales fall

This content was published on Feb 28, 2002 The world’s biggest agrochemicals company said merger synergies had helped it boost its operating margin, confirming analysts’ expectations that the firm would outperform rivals in difficult market conditions. The company says it expects this trend to continue even though the global economic slowdown will continue to bite. “Although we expect market conditions to remain difficult…

Schoss voted Business Angel of 2002

This content was published on Feb 28, 2002 The 38-year old German businessman was chosen as Switzerland’s business angel of the year by Bilanz, a Swiss business magazine, and Initiative Startups, a government economic development program. Schoss is the CEO of Beisheim Holding, an online retailing empire. He was selected because of his multiple investments in startup companies and his promotion of business…

Profits fall at Roche and Clariant

This content was published on Feb 27, 2002 However, restructuring costs and damages for involvement in a vitamin cartel dragged the consolidated net profit down by 57 per cent to SFr 3.7 billion. Across town, the specialty chemicals company Clariant announced that its net profit before exceptional charges fell by 72 per cent to SFr140 million. Including one-off charges, mainly tied to a…

UBS quits Turkish dam project

This content was published on Feb 27, 2002 The decision by UBS, which acted as one of the Ilisu project’s financial advisers for five years, follows fierce criticism of the scheme by environmental groups and non-governmental organistaions both in Switzerland and abroad. Last November the dam’s former building contractor, British engineering firm Balfour Beatty, announced it was withdrawing. UBS spokesman, Christoph Meier, told…

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Archive – Banking & Fintech

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Locarno celebrates fish festival

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Swiss puts down roots in Oz

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Top album sellers in Switzerland

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Downturn fails to dampen Nestlé numbers

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Euro enjoys smooth transition

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Enron traders reportedly turn their backs on UBS

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Syngenta profit holds steady but sales fall

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Schoss voted Business Angel of 2002

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Profits fall at Roche and Clariant

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UBS quits Turkish dam project

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