Archive – Banking & Fintech

Swiss industry sluggish, says UBS

This content was published on Jul 5, 2001 It revealed that, in all but one sector, business in the second quarter was worse than companies forecast three months ago, although a slight improvement is expected for the current quarter. The report from Switzerland’s biggest bank found that the pace of industrial growth slowed sharply in the second quarter. The business cycle indicator, the…

Unique Airport in talks to operate in Siena

This content was published on Jul 5, 2001 “It is correct that we are in talks with the people at Siena airport to study the future of the airport. These talks are going well but there is nothing concrete and there are no deadlines,” a spokesman for Unique said. Unique is interested in expanding its activities abroad. It is already part of a…

Weighty issues descend on Interlaken

This content was published on Jul 4, 2001 Organised by the Winterthur Insurance company, which is a part of the Credit Suisse group, the WINconference 2001 takes place on Thursday and Friday. Among the speakers are the German foreign minister Joschka Fischer, the Swiss foreign minister Joseph Deiss, the head of the peace negotiations in Northern Ireland Senator George Mitchell, and the president…

Sarasin tight lipped about future plans

This content was published on Jul 4, 2001 Analysts said that any deal between the two Swiss banks would be unlikely because of the tight control of Sarasin stock. However, they also noted that Sarasin’s sizeable private banking and asset management business would be a good fit for UBS, the country’s number one bank. “Strategically it would be a good fit for UBS…

Sia buys Freudenburg unit

This content was published on Jul 4, 2001 Canton Thurgau-based Sia Abrasives said that with this new British production facility and its comprehensive range of non-woven abrasives, the Sia Group, which is the world’s fourth largest manufacturer of coated abrasives, will “further reinforce its position on the market”. The Freudenberg unit recorded sales of non-woven abrasives in 2000 totalling SFr28 million ($15.6 million).…

Belgium turns up heat on Swissair over Sabena

This content was published on Jul 4, 2001 Swissair Group’s management was still reeling from the news that it was being sued by its Belgian partner, when workers at Brussels’ airport decided to take matters into their own hands, and stopped a Swissair flight from taking off for Zurich. The disruption later led to a suspension of all Swissair flights from Belgium –…

Sabena vows joint legal action against Swissair Group

This content was published on Jul 3, 2001 At a press conference in Brussels on Tuesday, the Belgian transport minister, Rik Daems, announced that Belgium will “take Swissair to court for breach of contract.” On Tuesday, sources close to the Belgian government said it “had to react” to Swissair’s attempts to extricate itself from a commitment to increase its holding in Sabena to…

Belgium set for legal battle with Swissair

This content was published on Jul 3, 2001 The source said the government feels that Swissair has done everything possible to avoid its responsibilities to Sabena, which meant “the Belgian government had to react”. Swissair spokesman, Patrick Jeandrain, told swissinfo that as yet the group had heard nothing from the Belgian government regarding any planned legal action. “I cannot see on what grounds…

Swiss offer bridging loan to Yugoslavia

This content was published on Jul 3, 2001 The loan will allow the European Union to proceed with planned financial aid to Yugoslavia, worth over SFr450 million. Once the first EU transfer is completed, Belgrade should repay the Swiss within seven days. The Swiss government agreed to make the loan available after the Balkan nation asked for financial help. Yugoslavia is part of…

Inflation slows in Switzerland

This content was published on Jul 3, 2001 The Federal Statistics Office said June inflation was up 0.2 per cent on May and up 1.6 per cent compared with June 2000. Gilbert Vez of the Statistics Office said it was difficult to predict whether the July annual figure would be lower too. “It is always very hard [to predict] because of the oil…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss industry sluggish, says UBS

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Unique Airport in talks to operate in Siena

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Weighty issues descend on Interlaken

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Sarasin tight lipped about future plans

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Sia buys Freudenburg unit

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Belgium turns up heat on Swissair over Sabena

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Sabena vows joint legal action against Swissair Group

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Belgium set for legal battle with Swissair

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Swiss offer bridging loan to Yugoslavia

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Inflation slows in Switzerland

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