Archive – Banking & Fintech

IMF praises Swiss economy but urges more reforms

This content was published on Jan 29, 2001 Speaking at a press conference in Bern on Monday, IMF experts said Switzerland was enjoying its best economic performance for a decade, and forecast “relatively robust” growth of 2 – 2.5 per cent for this year. However, they warned that the tempo of structural reform would need to be speeded up if Switzerland is to…

Zurich insurance unit merges with Malaysian group

This content was published on Jan 29, 2001 MCIS Insurance, which deals in both life and general insurance, will retain its composite insurance licence in the merger with Zurich, which writes non-life insurance in the country. “It’s planned to have capital of between 100 million and 120 million ringgit (SFr43 million to SFr52 million) after the merger is completed,” MCIS chief executive L…

Schweizerhall sells drugs division to Aceto

This content was published on Jan 29, 2001 Schweizerhall is a wholesale distributor of industrial and fine chemicals and develops and markets perfumes and jewellery. It said it would buy 600,000 shares in Aceto, equivalent to 10 per cent in the New York State-based company, as part of the deal. Schweizerhall chairman, Peter Schaer, said in statement that the sale, subject to a…

Couchepin calls for new round of WTO trade talks

This content was published on Jan 28, 2001 Speaking to swissinfo in Davos, Couchepin said it was necessary for richer countries to make concessions to poorer states for progress to be made. He said that free trade agreements too often excluded economically weak countries. And he said that anti-globalisation protesters often ignored the fact that poorer nations wanted a resumption of WTO talks.…

Kudelski says high-tech shake out was inevitable

This content was published on Jan 28, 2001 When delegates met last year, the Internet seemed to offer the prospect of unlimited economic growth. Investors seemed prepared to finance the flimsiest of ideas for a dot.com company. But in March 2000 the speculative bubble burst and many infant companies went to the wall. Investors had their fingers burned as technology stocks tumbled. World…

Workers’ leader warns of union backlash

This content was published on Jan 27, 2001 Phillip Jennings, the general secretary of Geneva-based Union Network International, voiced his fears in an interview with swissinfo in Davos. ‘We have a problem of respect for union rights,’ said Jennings, ‘There is a vicious anti-union campaign taking part in the United States.’ And Jennings is particularly worried about the incoming Bush administration. ‘Last year,…

Swiss pork farming antibiotic ban slow to take hold

This content was published on Jan 26, 2001 Farmers use antibiotics to promote growth in pigs, so increasing financial turnover on farms. But they also prevent infection amongst the animals. Federal Veterinary Office spokesman Heinz Müller said that since the 1999 ban farmers had found their pigs were more likely to catch infections. They were therefore continuing to administer antibiotics to their animals…

“Other Davos” calls for alternative solutions to globalisation

This content was published on Jan 26, 2001 The Zurich forum was jointly organised by several non-governmental organisations (NGOs) and brought together hundreds of researchers, left-wing groups and other interested parties to a series of debates and workshops at the city’s Volkshaus. The conference got underway with a presentation by political and economic specialists on a variety of topics including women’s rights and…

NGOs fear patenting of rice genome

This content was published on Jan 26, 2001 The Swiss aid organisation, the Declaration of Berne, said although the Basel-based company had made the breakthrough, it would be wrong to claim ownership of the genome. A genome contains the basic information that makes up living organisms, encoded in chromosomes made up of double-stranded chains of DNA (deoxyribonucleic acid). “We believe the rice genome,…

Leading Swiss indicator points to economic slowdown

This content was published on Jan 26, 2001 The main Swiss indicator dropped sharply to 0.86 in December from a downwardly revised 0.94 in November. December’s indicator is the first to drop below 1.0 since October 1999. An economist with the Institute said the drop below 1.0 indicated average growth for the economy. He said the indicator vindicated the Swiss National Bank’s decision…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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IMF praises Swiss economy but urges more reforms

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Zurich insurance unit merges with Malaysian group

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Schweizerhall sells drugs division to Aceto

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Couchepin calls for new round of WTO trade talks

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Kudelski says high-tech shake out was inevitable

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Workers’ leader warns of union backlash

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Swiss pork farming antibiotic ban slow to take hold

More

“Other Davos” calls for alternative solutions to globalisation

More

NGOs fear patenting of rice genome

More

Leading Swiss indicator points to economic slowdown

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