Archive – Banking & Fintech

Roth says SNB has no euro rate target

This content was published on Jan 14, 2002 Exporters should be able to adapt to the franc’s strength, he says. In an interview with the French language newspaper, Le Temps, Roth said that while the exchange rate played an important role in the central bank’s monetary decisions, it was not the only factor. He said it was not by changing the exchange rate…

Indian software keeps Swiss securities safe

This content was published on Jan 14, 2002 The software business is the most thriving sector of the Indian economy and Swiss companies have not been slow in outsourcing their work to Indian experts. The partner of choice for many Swiss companies including UBS, Credit Suisse, Swisscom and the Federal Railways has been the Indian software company, Tata Consultancy Services (TCS), part of…

Zurich’s vote gets new carrier into starting blocks

This content was published on Jan 14, 2002 The investment was backed by 55.5 per cent of Zurich’s voters – a move which analysts say will safeguard around a thousand jobs in the area. The new airline, yet to be named, will replace the collapsed Swissair. Crossair’s management said the decision was a huge vote of confidence. “This approval meets a further condition…

Canton Zurich backs crucial Crossair credit plan

This content was published on Jan 14, 2002 In a key ballot on Sunday, 55.5 per cent of voters in the canton of Zurich agreed to back the investment – a move which analysts say will safeguard thousands of jobs. “The vote will save jobs in the short term, but not in the long term,” aviation analyst, Sepp Moser, told swissinfo. Moser, who…

Crossair in alliance talks with Lufthansa

This content was published on Jan 13, 2002 Crossair has held several meetings with Lufthansa, and more are scheduled, according to a report by the Sunday newspaper, “SonntagsZeitung.” It said that Crossair boss, André Dosé, had already met his Lufthansa counterpart, Jürgen Weber. The Swiss regional carrier is to form the backbone of Switzerland’s new national airline following the collapse of Swissair. It…

Stock markets hope for better 2002

This content was published on Jan 13, 2002 The Swiss Market Index, comprising of 27 of the country’s foremost companies, performed somewhat worse than the American market but in line with most other European markets. New York’s Dow Jones Industrials ended the year down seven per cent. In Europe, London’s FTSE suffered a decline of 16 per cent, with the Frankfurt Dax down…

National airline in focus for business

This content was published on Jan 13, 2002 Crossair’s board meets on Monday to discuss possible names for the new airline. Several suggestions have been put forward from “Air Switzerland” to “Swiss Airlines” to more abstract ideas such as “Mountain Air”. The Crossair board has been advised by several advertising agencies over the new identity. Most analysts expect the name to include some…

Travelers to Switzerland find hidden benefits of euro

This content was published on Jan 12, 2002 Besides making it more convenient to spend money by eliminating the need to exchange currency in the euro zone and tourist destinations outside it, travelers are finding a hidden benefit: it’s easier to compare hotel and holiday prices across borders. Heinz Keller of Switzerland Tourism says, “For the very first time, all the guests have…

Rough week for Roche

This content was published on Jan 12, 2002 A jury in the United States found it had violated a licensing agreement with the American company, IGEN. Roche was ordered to pay more than $500 million damages in a dispute that has been running for four years. IGEN welcomed the result though Roche is expected to appeal. Potentially worse than the damages awarded is…

UBS Warburg makes winning bid for Enron trading operation

This content was published on Jan 11, 2002 The trading unit was the most important business of Enron, the world’s largest energy merchant before it collapsed at the end of last year. Terms were not disclosed on Friday, but details will be made public on Monday. According to the German DPA press agency, the bank acquired 51 per cent of Enron’s e-commerce platform,…

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Roth says SNB has no euro rate target

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Indian software keeps Swiss securities safe

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Zurich’s vote gets new carrier into starting blocks

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Canton Zurich backs crucial Crossair credit plan

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Crossair in alliance talks with Lufthansa

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Stock markets hope for better 2002

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National airline in focus for business

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Travelers to Switzerland find hidden benefits of euro

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Rough week for Roche

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UBS Warburg makes winning bid for Enron trading operation

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