Archive – Banking & Fintech

Home-made flying machines fail to take off

This content was published on Sep 8, 2001 No less than 45 pilots braved force six winds as they launched themselves off the runway in celebration of Flying Day. Some of the more unusual craft built especially for the event included a flying igloo, a flying truck, a flying elephant, a zeppelin, a pterodactyl and a flying classroom. While many of the machines…

Ascom sets negative trend to business week

This content was published on Sep 8, 2001 A company statement said the loss was not unexpected, but some analysts had forecast net earnings at above SFr30 million. The figure compared with earnings of SFr60 million for the first half of 2000. Later, Crossair, the regional carrier which is part of the Swissair Group, reported on Wednesday that it lost SFr17.8 million ($10.44…

“Mountain Aid” eases burdens of alpine life

This content was published on Sep 8, 2001 The charity, Swiss Mountain Aid, aims to prevent an exodus from rural communities of the Alps by bolstering regional companies that produce such typically Swiss products as cheese. “Mountain people love the work they do. But it’s hard, and they need help to survive,” says Adolf Ogi, the former Swiss president and, since May, president…

Water resources in the Alps need protecting

This content was published on Sep 7, 2001 “Around the world, the provision of clean drinking water is more problematic than the supply of food,” said Dr Kurt Hanselmann of Zurich University’s plant and microbiology institute. “In the Alps, which are often considered the water tower of Europe, the situation is different. It’s rare that we lack water or that quality is an…

Deutsche Bank reportedly chasing Zurich Scudder

This content was published on Sep 7, 2001 Unnamed sources said to be close to the negotiations told Reuters news agency that talks were at an advanced stage but that closure was still some weeks off. Deutsche Bank has long been searching for a suitable acquisition in the US asset management market. Analysts say the deal could be worth around SFr5 billion ($3…

Swiss Re profits down more than 50 per cent

This content was published on Sep 7, 2001 Swiss Re, the world’s second biggest re-insurer, said net investment gains slumped to SFr884 million from a level of SFr3.43 billion in the comparable period. In a statement, Swiss Re said it had fully expected the scale of its net earnings decline. The company made huge investment gains early in 2000 when it swapped a…

Unemployment shows slight increase

This content was published on Sep 7, 2001 The State Secretariat for Economic Affairs (SECO) said around two thirds of the increase was attributable to the weaker economic environment, with the rest of the rise put down to seasonal factors. Analysts say that despite the economic slowdown, a considerable rise in the jobless rate is not expected. The number of unemployed is expected…

St Gallen farmers demand more border checks for illegal meat

This content was published on Sep 7, 2001 The cantonal farmer’s association says this proves border controls are insufficient. According to the association, the discovery of the smuggling operation comes at a critical time for local farmers who have seen their income drop. The meat market has been in turmoil since the end of last year, when Swiss consumers turned their backs on…

Switzerland sends aid to drought victims in Central America

This content was published on Sep 6, 2001 The Swiss Development Agency announced it had sent SFr600,000 to help the estimated 1.5 million people in El Salvador, Nicaragua, Guatemala and Honduras who are affected by the severe drought. The lack of rain has had a devastating affect on this year’s crop yields, reportedly destroying more than 27,000 hectares of basic grain crops in…

Swiss blue chips suffer further losses as SMI falls to three year low

This content was published on Sep 6, 2001 During Thursday’s session, the SMI fell 1.73 per cent at 6395.5, the first time the index has fallen beneath the 6400 level since October 1998. Healthy first-half results from the digital broadcast company, Kudelski, and cement producer, Holcim, failed to prevent the SMI’s fall and many analysts see little hope of a recovery until later…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Home-made flying machines fail to take off

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Ascom sets negative trend to business week

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“Mountain Aid” eases burdens of alpine life

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Water resources in the Alps need protecting

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Deutsche Bank reportedly chasing Zurich Scudder

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Swiss Re profits down more than 50 per cent

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Unemployment shows slight increase

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St Gallen farmers demand more border checks for illegal meat

More

Switzerland sends aid to drought victims in Central America

More

Swiss blue chips suffer further losses as SMI falls to three year low

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