Archive – Banking & Fintech

Parliament approves balanced budget for 2001

This content was published on Dec 13, 2000 The budget is based on revenue of just under SFr49 billion ($28.5 billion) and spending of almost as much. The figures do not include SFr205 million in revenue from the recent sale of four UMTS mobile phone licences. After several debates in parliament, the House of Representatives on Wednesday followed the Senate in approving the…

EFTA set to strengthen trade ties with Latin America

This content was published on Dec 12, 2000 The deal with Mercosur, signed on Tuesday, is seen as a first step towards a free trade agreement. The Swiss economics minister, Pascal Couchepin, as well as ministers from the three other EFTA countries, Iceland, Liechtenstein and Norway, were present at the ceremony. The Mercosur members are Argentina, Brazil, Paraguay and Uruguay. An EFTA spokesman…

Top two restaurants hold on to their star quality

This content was published on Dec 12, 2000 Rochat is a chef at the “Restaurant de l’Hotel de Ville” in Crissier while Rabaey works at the “Pont de Brent” in Montreux. The number of restaurants awarded two stars rose to 10 from eight the previous year. The “Auberge du Raisin” in canton Vaud and the “Bruderholz” in Basel were promoted to become the…

Life policies drive growth in insurance business

This content was published on Dec 12, 2000 Swiss Re said that in 1999 global premium income in the insurance industry, adjusted for inflation, recorded growth of 4.5 per cent. The company said booming sales of life insurance policies accounted for most of the growth. Worldwide premium volume in 1999 amounted to $2,324 billion (SFr3,974 billion), with life insurance accounting for 61 per…

Swissair looking to buy stake in Malaysian carrier

This content was published on Dec 12, 2000 The company had said it was interested in a “strategic partnership” with the Malaysian carrier, but Swissair officials confirmed on Monday that their interest goes beyond existing mutual cooperation. “I can confirm we have asked the [Malaysian] government and the airline to be considered a possible strategic equity partner,” said Swissair spokesman, Jean-Claude Donzel. He…

Switzerland bans sale of meat-based fodder

This content was published on Dec 11, 2000 He said on Monday the measures were designed to stop the spread of BSE or Mad Cow Disease. There are fears that BSE can be transferred to humans as new variant Creutzfeldt-Jakob Disease (nvCJD), although the scientific evidence is inconclusive. The government had initially aimed to have the ban on meat and bone meal in…

Government touts success of “green” policies

This content was published on Dec 11, 2000 In a statement on Monday, the cabinet said its policies would lead to a five per cent fall in energy consumption this year, largely as a result of measures aimed at reducing greenhouse gas emissions. It added that the government’s drive for sustainable development had influenced its financial and foreign policy. It cited the introduction…

Competition watchdog smashes road industry cartel

This content was published on Dec 11, 2000 The competition commission said the asphalt suppliers had made an illegal profit of SFr1.5 million ($880,000) a year since 1996. The head of the commission, Roland von Bueren, said: “For the first time, we have caught out an entire industry in a large and important region.” However, he added that the commission was unable to…

Gucci buys Swiss watchmaker

This content was published on Dec 11, 2000 No financial details of the transaction were released but there will be no job losses. “Each of the parties is very enthusiastic about the future and we are very happy that our paths have come together,” said Christian Bédat, president of the watch company. Founded in 1996, the Bédat company has developed rapidly, particularly in…

Leica adds US firm to growing list of acquisitions

This content was published on Dec 11, 2000 The deal, announced on Monday, is valued at $23.3 million (SFr39.6 million). It will be financed with cash and is expected to close in early January. A statement from Leica Geosystems headquarters in Heerbrugg said the acquisition would allow the company to establish a strong position in high-precision 3D guidance and automated machine control systems…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Parliament approves balanced budget for 2001

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EFTA set to strengthen trade ties with Latin America

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Top two restaurants hold on to their star quality

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Life policies drive growth in insurance business

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Swissair looking to buy stake in Malaysian carrier

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Switzerland bans sale of meat-based fodder

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Government touts success of “green” policies

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Competition watchdog smashes road industry cartel

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Gucci buys Swiss watchmaker

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Leica adds US firm to growing list of acquisitions

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