Archive – Banking & Fintech

Pharmaceuticals boost Novartis profit

This content was published on Feb 7, 2002 The company announced on Thursday that sales had increased by ten per cent over the previous year to SFr32 billion, driven by pharmaceuticals and the sustained dynamism of its United States business, where pharmaceuticals sales jumped by 24 per cent. Novartis chief financial officer, Raymund Breu, told swissinfo the company’s refocusing on its healthcare business…

Cheese maker finds recipe for success

This content was published on Feb 7, 2002 The 38-year-old began production in November 1998 at a time when many cheese makers were looking for the exit rather than for a way in to the industry as the loss of state subsidies and the lifting of trade barriers put the squeeze on many businesses. But while others struggled to keep their heads above…

Novartis profit boosted by pharmaceuticals

This content was published on Feb 7, 2002 The company announced on Thursday that sales had increased by ten per cent over the previous year to SFr32 billion, driven by pharmaceuticals and the sustained dynamism of its United States business, where pharmaceuticals sales jumped by 24 per cent. “In 2001, we reaped the rewards of our strategic focus on healthcare and specifically on…

Swiss take Olympics online

This content was published on Feb 7, 2002 Under the terms of the deal, which marks the first time the IOC has agreed to allow pictures from the Olympics to be broadcast on the Internet, the French-speaking Swiss channel, TSR, will broadcast selected events on the web to an audience of pay-per-view subscribers. “It’s not on the Internet proper,” explains Philippe Mottaz, director…

Swisscom retains monopoly

This content was published on Feb 6, 2002 ComCom rejected a demand by the alternative operator, TDC Switzerland (formerly diAx) on Wednesday. TDC, now operating under the brand name of Sunrise, had asked for the right to interconnect with the incumbent’s local network, or ‘local loop’. This would have allowed TDC to charge its own customers for local calls, rather than allowing Swisscom…

UBP and Discount Bank to merge

This content was published on Feb 6, 2002 The Union Bancaire Privée and the Discount Bank and Trust Company have entered negotiations and signed a letter of understanding to create one of the top three Geneva private banks, which would have 1,400 staff. A short news statement said the discussions now taking place between the two banks should enable an agreement to be…

Banking issues to test Swiss-EU relations

This content was published on Feb 6, 2002 Urs Roth, chief executive officer of the Swiss Bankers Association, said the taxation of interest income, combating fraud and the Schengen/Dublin agreements on security and asylum were all of “particular importance” for Switzerland. In the coming months, the topics will be part of the EU economic agenda, and Switzerland’s financial and political agenda. At a…

Swatch earnings fall

This content was published on Feb 6, 2002 In a statement from its headquarters in Biel, Swatch said full-year sales fell by 1.9 per cent to SFr4.18 billion ($2.46 billion).Turnover for the most important final four months of the year turned out “below our expectation”, it said. Reluctant consumers Swatch, which includes the Breguet, Blancpain and Omega brands, said consumer sentiment became “clearly…

Social summit in Brazil ends without clear statement

This content was published on Feb 6, 2002 The Swiss delegation included four members of parliament and representatives of non-governmental organisations. Dora Rapold of the Swiss Agency for Development and Cooperation said she was impressed by the quality of discussions at the gathering in Porto Alegre, which was billed as an alternative to the World Economic Forum meeting in New York. The social…

Fischer to step down from the SWX

This content was published on Feb 6, 2002 Fischer has been under scrutiny in his capacity as former CEO of the private Zurich bank Vontobel. The bank dismissed him after finding him co-responsible for the failure of the “you” online bank project, which left a hole of SFr280 million ($165.19 million). “The Federal Banking Commission proceedings in which I have had to defend…

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Pharmaceuticals boost Novartis profit

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Cheese maker finds recipe for success

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Novartis profit boosted by pharmaceuticals

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Swiss take Olympics online

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Swisscom retains monopoly

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UBP and Discount Bank to merge

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Banking issues to test Swiss-EU relations

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Swatch earnings fall

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Social summit in Brazil ends without clear statement

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Fischer to step down from the SWX

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