Archive – Banking & Fintech

Zurich invests in Bermuda start-up

This content was published on Nov 8, 2001 Zurich said on Thursday that the operation would help give Endurance, a new Bermuda-based insurance and reinsurance company being set up by Aon, the world’s number two insurance broker, underwriting capacity in commercial property and casualty insurance. Aon, which is also putting $200 million into the venture, has said it was setting up the underwriter…

Consumer confidence plunges, jobless rate rises

This content was published on Nov 8, 2001 Consumer spending has been a pillar of Swiss economic growth this year as a global slowdown crimps demand for exports, but growing concern about economic developments undercut private households’ confidence last month. The confidence index dropped to minus 17 points in October from plus 12 points in July, the steepest drop since the start of…

Swiss want former KLM chief to head new Crossair

This content was published on Nov 8, 2001 After consulting the major investors, the committee charged with launching a new Swiss airline announced they had selected 60-year-old Bouw to become president of the “New Crossair”. The move leaves Crossair boss, Moritz Suter, out in the cold. “Ideal Profile” The committee found that Bouw had the “ideal profile” to direct the company which is…

Scientists demand more money

This content was published on Nov 7, 2001 The Swiss Science and Technology Council wants the science budget for 2004-2007 to be increased by ten per cent every year. This would mean increasing the total from SFr3 billion to SFr4.5 billion. In a manifesto, issued in Bern on Wednesday, signed by more than 50 personalities from the worlds of science, business and the…

Switzerland freezes more Angolan bank accounts

This content was published on Nov 7, 2001 The State Secretariat for Economic Affairs (Seco) announced on Wednesday that some 90 names will be added to the list of members of the National Union for the Total Independence of Angola (UNITA) who have bank accounts in Switzerland. The decision to increase the number to 170 amends the 1998 order to freeze bank accounts…

September 11 attacks prompted WEF move to New York

This content was published on Nov 7, 2001 Economics Minister Pascal Couchepin said at a press conference on Wednesday that the Swiss Cabinet regrets the summit transfer, but it understands the WEF organisers’ security concerns. André Schneider, director of the WEF, emphasised that the shift to New York is for next year’s meeting only. “We are not turning our backs on Davos,” he…

Negative result expected at Von Roll

This content was published on Nov 7, 2001 Orders at Von Roll Isola and Von Roll Infratec have fallen by more than 20 per cent since mid-September, the company said on Wednesday. Von Roll pointed out in its statement that the company was experiencing higher financing costs and negative exchange rate developments. The Zurich-based company said it had managed to achieve the improvements…

Sabena gives up, declares bankruptcy

This content was published on Nov 7, 2001 The debt-laden airline filed for bankruptcy on Wednesday, ending a weeks-long battle for survival, and signalling an increasingly bleak outlook for the global aviation industry. Lawyers for the 78-year old airline, Europe’s second oldest, requested the parent company’s liquidation at the Brussels commercial court after Sabena chairman Fred Chaffart announced late Tuesday that the board…

Swiss Re starts payments to WTC group

This content was published on Nov 7, 2001 The world’s second largest re-insurer said it handed over its $14.3 million share (SFr23.3 million) of an initial $75 million payment to investors behind Larry Silverstein of Silverstein Properties Inc. That company is the operator of the World Trade Center properties and leaseholder of the complex, which was destroyed in the September 11 attacks on…

IMF evaluates Swiss financial sector

This content was published on Nov 7, 2001 The investigation is part of a wider project by the IMF and World Bank called the Financial Sector Assessment Programme, which was founded in the wake of the ’90s currency crisis. To safeguard against future financial crises, the IMF and other financial institutions decided to look at the micro, or domestic, economic structures of its…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Zurich invests in Bermuda start-up

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Consumer confidence plunges, jobless rate rises

More

Swiss want former KLM chief to head new Crossair

More

Scientists demand more money

More

Switzerland freezes more Angolan bank accounts

More

September 11 attacks prompted WEF move to New York

More

Negative result expected at Von Roll

More

Sabena gives up, declares bankruptcy

More

Swiss Re starts payments to WTC group

More

IMF evaluates Swiss financial sector

Popular Stories

Most Discussed