Archive – Banking & Fintech

Funicular offers white-knuckle ride

This content was published on Sep 1, 2001 Constructed in 1926 to help build the Gelmer dam and the Handeck hydroelectric power station, the Kraftwerke Oberhasli’s (KWO) Gelmerbahn has opened to the public for the first time in 75 years. Thanks to an investment of SFr800,000, the funicular, located a few kilometres outside the town of Innertkirchen, now gives up to 180 people…

Swissair chief plans to hike ticket prices

This content was published on Sep 1, 2001 In an interview with the Swiss “Tages-Anzeiger” newspaper on Saturday, Corti outlined a new strategy to reinforce Swissair’s market position as a quality airline aimed at the top end of the market. “We must have the courage to separate ourselves from our competitors through our services and prices,” Corti said. He pointed out that in…

Swissair share price continues to fall

This content was published on Aug 31, 2001 Analysts at Zurich Cantonal Bank said in a study that the risks for investors were far higher than opportunities. They also noted the Swissair Group’s “extremely high” net debt of almost SFr15 billion. The company on Thursday announced plans to cut 1,250 jobs and sell some of its major assets after reporting a first half…

Swissair losses dominate business headlines

This content was published on Aug 31, 2001 On Thursday the Swissair Group announced plans to shed 1,250 jobs and sell some of its major assets after reporting a first half loss of SFr234 million ($140 million) compared with a profit of SFr3 million during the same period a year earlier. The group, which reported a loss of SFr2.9 billion last year –…

Anti-globalisation protesters end occupation of Mobutu villa

This content was published on Aug 31, 2001 The peaceful end to the occupation of the house in Savigny near Lausanne came after members of the Lausanne-based La Smala movement met with a judge, police and an official from the local debt and bankruptcy office, which is responsible for the villa. The house is due to be sold at auction next month and…

Ascom kicks off business week

This content was published on Aug 31, 2001 Ascom said in July that it saw no reason to change its 2001 profit outlook even though some divisions were encountering “business cycle headwinds”, according to chief executive Urs Fischer. Ascom announced a month earlier its plans to cut 1,100 jobs as part of the reorganisation drive Fischer launched when he took over earlier in…

Boxer nips at heels of big brewers

This content was published on Aug 31, 2001 Set-up in 1960 in the town of Romanel in canton Vaud by Albert Heusser, who named the brewer after his favourite breed of dog, Boxer prides itself on remaining outside the brewing empires controlled by Denmark’s Carlsberg, Britain’s Allied Domecq, and other major players. Today Boxer supplies speciality beers to clients across Switzerland, pulling in…

Swiss bike industry faces uphill struggle

This content was published on Aug 31, 2001 Although the Swiss market appears healthy — some 350,000 to 400,000 new bikes are expected to be sold this year at an average price of SFr1,050 ($611) – producers face financial hurdles ranging from the country’s higher cost of salaries to transport taxes. “The costs of production in Switzerland are much higher than for the…

Leading indicator slips further

This content was published on Aug 31, 2001 KOF, which is part of the Swiss Federal Institute of Technology in Zurich, said its indicator fell to a reading of -0.21 from a downwardly revised -0.07 in June. The institute said that new industrial orders showed a slight rise in July, after registering their first decline for two years in June. In a statement,…

Railway to the sky

This content was published on Aug 31, 2001 Like the rest of Europe, Switzerland was gripped by railway fever in the last quarter of the 19th century. But even before tracks had been laid in the valleys of the Bernese Oberland, those ambitious plans were being tabled to build a line to the summit of the Jungfrau, 4,158 metres above sea level. There…

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Funicular offers white-knuckle ride

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Swissair chief plans to hike ticket prices

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Swissair share price continues to fall

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Swissair losses dominate business headlines

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Anti-globalisation protesters end occupation of Mobutu villa

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Ascom kicks off business week

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Boxer nips at heels of big brewers

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Swiss bike industry faces uphill struggle

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Leading indicator slips further

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Railway to the sky

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