Archive – Banking & Fintech

UBS freezes suspicious SFr100 million account

This content was published on Feb 20, 2002 UBS said on Wednesday it reported its suspicion to the Swiss Federal Banking Commission and the Money Laundering Reporting Office. Tanja Kocher, spokeswoman at the Federal Banking Commission, confirmed that the commission had been informed of UBS’ suspicions. “We opened an investigation in order to look into the case and find out why UBS has…

Sunrise makes a million

This content was published on Feb 20, 2002 The company said in a statement that with one million customers this “clearly puts Sunrise at the number two position on the Swiss mobile services market.” The Swiss telecommunication market has been gradually opened to competition over the past few years. This has seen the gradual erosion of the monopoly of the still majority state-owned…

Tecan boosts profit

This content was published on Feb 20, 2002 The canton Zurich-based company also announced on Wednesday that it proposed raising its dividend to SFr0.45 per share from SFr0.35. Sales rose by 32.3 per cent to SFr361.9 million. Shares in the group pushed up 12.6 per cent in early trading on the Swiss Stock Exchange at SFr91 after falling 5 per cent on Tuesday…

Switzerland considers Zimbabwe sanctions

This content was published on Feb 19, 2002 The announcement follows a decision by the European Union to implement sanctions against President Robert Mugabe’s government for not allowing election observers to monitor next month’s presidential elections in Zimbabwe. The EU sanctions, which will affect Mugabe and 19 of his close political associates, include freezing their assets in the EU and an embargo on…

Switzerland looks east

This content was published on Feb 19, 2002 The Swiss economics minister, Pascal Couchepin, went on a two-day visit to Poland and Hungary at the end of last week to look for new investment opportunities for Swiss businesses. Jörg Reding, ambassador for bilateral economic relations at the state secretariat for economic affairs, Seco, believes that with the EU’s eastward expansion, planned for 2004,…

Mühlemann to leave Argentinian board

This content was published on Feb 19, 2002 Credit Suisse Group spokeswoman Claudia Kraaz confirmed to swissinfo that Mühlemann, first tendered his resignation back in January. “I can confirm that Lukas Mühlemann and CSFB’s David Mulford tendered their resignations, along with the representatives of the other two partner banks, back in January,” explained Kraaz. Lukas Mühlemann, chairman of Switzerland’s second biggest financial group,…

Shares dive at Phonak

This content was published on Feb 19, 2002 Phonak said in a statement it was cutting its guidance for the results for 2001/2002 due to market pressures and restructuring costs. Shares in the company, which is based just outside of Zurich, were down 23.4 per cent in early trading on the Swiss Stock Exchange to SFr27. Phonak said it expected net earnings of…

Fischer profits fall short

This content was published on Feb 19, 2002 The profit figure, pressured by overcapacity as global economic growth slowed down, fell clearly short of analysts’ forecasts averaging SFr91 million. Fourth-quarter sales fell over 22 per cent amid lower demand although full-year sales were roughly steady at SFr3.85 billion, in line with forecasts. The company itself described 2001 as a year of two halves.…

Small Swiss are heavyweights in global financial league

This content was published on Feb 19, 2002 When measured by size, the Swiss financial sector falls behind financial centres in the United States, Britain, Japan, Germany and France. But the financial sector is disproportionately large for a country the size of Switzerland. That’s the main conclusion of the study released by the Créa Economics Institute at Lausanne University. Switzerland’s stock market capitalisation…

Swiss lose their thirst

This content was published on Feb 18, 2002 Figures just released by Switzerland’s largest independent brewer, Eichhof of Lucerne, show that a hard winter and rainy spring led to a significant decrease in consumption until the middle of last year. Despite generally fair midsummer weather, Eichhof said it was impossible to make up the loss by the end of its fiscal year on…

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Archive – Banking & Fintech

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UBS freezes suspicious SFr100 million account

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Sunrise makes a million

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Tecan boosts profit

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Switzerland considers Zimbabwe sanctions

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Switzerland looks east

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Mühlemann to leave Argentinian board

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Shares dive at Phonak

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Fischer profits fall short

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Small Swiss are heavyweights in global financial league

More

Swiss lose their thirst

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