Archive – Banking & Fintech

Distefora posts big losses

This content was published on May 23, 2001 The company’s operating loss came in at SFr143.1 million ($80.6 million)in 2000, compared to a loss of SFr24.1 million in 1999. The consolidated net loss was SFr31.2 million after a profit of SFr8.2 million in the previous year. Distefora said in a statement that its total asset value had increased to SFr559.2 million from SFr253.5…

Switzerland signs treaty banning pesticides

This content was published on May 23, 2001 “Switzerland understands full well that the majority of environmental problems cannot be addressed by individual countries so we need to have international cooperation to address the issue of toxic chemicals,” Beat Nobbs, head of the delegation in Sweden, told swissinfo. The hit-list includes toxic chemicals such as DDT, PCBs, dioxins and furans, as well as…

Swiss propose withholding tax on residents’ income of EU citizens

This content was published on May 22, 2001 The EU finance commissioner, Frits Bolkestein, described the proposal as a big step forward. He made the statement in Bern on Tuesday, following talks with Villiger. Bolkestein said Switzerland and the EU shared a common interest in cracking down on citizens trying to dodge taxes by stashing funds away in offshore accounts, including Switzerland. He…

Bartlett completes move from Zurich

This content was published on May 22, 2001 The 28-year-old international has been on loan to the London club since November and Charlton have now exercised an option to sign him after the loan period. Bartlett’s first five months in the English Premiership have been highly successful. He began his Charlton career with two goals on his home debut against Manchester United, and…

Swiss tourism enjoys new boom

This content was published on May 22, 2001 The report, released by the state secretariat for economic affairs, showed a five per cent rise in overnight stays in 2000 – a rise not seen since the early 1990s. The tourism trade was badly hit a decade ago by the high value of the Swiss franc, and a general perception that tourism resorts were…

Room for rate cuts in Switzerland

This content was published on May 22, 2001 The IMF forecast, released on Tuesday,said that Switzerland’s economy would grow by just two per cent in 2001, after logging a gain of 3.4 per cent in 2000. However, the IMF said that even this reduced growth forecast could be tempered because it “viewed the growth projection as subject to downside risks from the weakening…

Winterthur moves deeper into Belgium

This content was published on May 22, 2001 Winterthur, which has been active in Belgium for more than 120 years, said the latest move would “strengthen its position in the Belgian non-life insurance market”, ranking it fifth in terms of gross written premiums. Non-life premiums are expected to increase from €341 million to over €500 million. In 2000 the group’s Winterthur-Europe Assurances unit…

Bovine battle to decide queen of Alps

This content was published on May 22, 2001 After a series of battles among the cows belonging to villages across canton Valais, the winners will compete at the cantonal finals in Sion to become queen. The cow fights are always a top draw due to the prestige the winner bestows on its owner and village. The organisers of the Sion event are planning…

French airlines cut 1,300 jobs

This content was published on May 21, 2001 Announcing the job cuts, Marc Rochet, chief executive of AOM/Air Liberté, which is jointly controlled by the Swissair Group and France’s Marine Wendel, said the company was in a “precarious and delicate economic situation”. The airline operator recently declared a net loss of FFr2.4 billion (SFr560 million) for 2000. The company has faced tough competition…

Ralston shareholders approve Nestlé acquisition

This content was published on May 21, 2001 The acquisition, to be subjected to a regulatory review, required the approval of over two-thirds of Ralston’s shareholders. Nestlé’s CEO, Peter Brabeck-Letmathe, said he expected the transaction to be completed by the end of the year. He added that the acquisition would give the consumer “tremendous benefits in innovation, more consumer choice and stronger competition…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Distefora posts big losses

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Switzerland signs treaty banning pesticides

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Swiss propose withholding tax on residents’ income of EU citizens

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Bartlett completes move from Zurich

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Swiss tourism enjoys new boom

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Room for rate cuts in Switzerland

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Winterthur moves deeper into Belgium

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Bovine battle to decide queen of Alps

More

French airlines cut 1,300 jobs

More

Ralston shareholders approve Nestlé acquisition

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