Archive – Banking & Fintech

Italian truckers blockade Swiss borders

This content was published on Jan 23, 2002 The Italian Road Hauliers Association (FAI), which has organized the protest, is preventing truck traffic from entering Switzerland. The truckers are attempting to pressure the Italian government to intervene against Swiss transport policy. The Italian truckers have asked Switzerland to lift its restrictions on foreign cargo traffic. This would include re-establishing heavy goods traffic in…

WEF says 2003 meeting will return to Davos

This content was published on Jan 23, 2002 In a statement on Wednesday, Klaus Schwab, president of the WEF, welcomed action taken by the Swiss cabinet, saying it fulfilled the “necessary prerequisites” to maintain Davos as a location for the forum’s annual meeting. The prestigious WEF annual meeting is the largest gathering of economic and political leaders, who assemble to debate key global…

WEF says 2003 meeting to be held in Davos

This content was published on Jan 23, 2002 Earlier, the Swiss government agreed to make contributions of up to SFr12 million ($7 million) for security over the next three years and a further SFr100,000 towards a parallel event for critics of the prestigious gathering of business and political leaders, according to a statement published by the economics ministry on Wednesday. The cabinet also…

Swiss army to follow business strategy

This content was published on Jan 23, 2002 The army’s strategy, which will extend over a period of 10 to 15 years, is aimed at running the military as a business enterprise to improve its performance. The army also wishes to become more attractive as an employer by providing top quality training and access to modern technologies. The new measures, including an in-house…

Ascom says finances solid

This content was published on Jan 23, 2002 The company said on Wednesday that revenues in 2001 rose 1.7 per cent to SFr3.115 billion ($1.87 billion). Ascom also said that at the end of the fourth quarter of 2001, its net interest-bearing debt was below SFr700 million. “Overall the financial situation of Ascom is stable. The board of directors and the executive board…

Swiss franc still cause for concern

This content was published on Jan 23, 2002 Speaking on Tuesday to a business audience on a panel that included German Bundesbank president Ernst Welteke, a member of the European Central Bank council, Gehrig said that “The current euro level vis a vis the Swiss franc…is somewhat expensive.” He said the relatively strong Swiss franc performance did not fit well with the current…

Marchionne quits Lonza

This content was published on Jan 23, 2002 Marchionne, a 48-year-old Canadian, is leaving on February 1 to head the Swiss inspection services group SGS, Société Générale de Surveillance, SGS said in a statement on Wednesday. He replaces Antony Czura, who is leaving the company. The move has been welcomed by analysts amid hopes the management changes would end a lack of transparency…

St Moritz teases gourmet palates

This content was published on Jan 23, 2002 Nine international guest teams will be present. They will include the best chefs from Las Vegas, Berlin, Paris and Singapore. A total of 19 establishments, including all of the resort’s five-star hotels, are taking part in the event, from January 25 to February 2. The festival’s finale, which will include a multi-course menu for some…

CSFB confirms settlement

This content was published on Jan 22, 2002 CSFB said in a press release on Tuesday, it had signed an agreement with the US Securities and Exchange Commission (SEC) and the National Association of Securities Dealers (NASD) to implement revised procedures governing the allocation of new stock issues. The bank – a unit of Switzerland’s Credit Suisse Group – was amongst a number…

Ascom denies credit rumour as stock falls

This content was published on Jan 22, 2002 Ascom’s shares, already near historic lows amid investor worries about the state of its finances and the ongoing restructuring, had dropped 33 per cent on rumours about the group’s financial situation, and more particularly, that a bank had stopped a credit line. “Normally we do not comment on market rumours,” chief spokesman Stepah Howeg said.…

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Archive – Banking & Fintech

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Italian truckers blockade Swiss borders

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WEF says 2003 meeting will return to Davos

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WEF says 2003 meeting to be held in Davos

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Swiss army to follow business strategy

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Ascom says finances solid

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Swiss franc still cause for concern

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Marchionne quits Lonza

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St Moritz teases gourmet palates

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CSFB confirms settlement

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Ascom denies credit rumour as stock falls

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