Archive – Banking & Fintech

Nestlé bids goodbye to four bourses

This content was published on Nov 30, 2000 The company, based in Vevey, said on Thursday that it would no longer be listing on the Amsterdam, Brussels, Tokyo and Vienna bourses. In a statement, Nestlé said: “The volume of shares traded [on those bourses] is very small… less than one per cent of the total number of Nestlé shares traded”. It added that…

Government backs away from total ban on animal meal

This content was published on Nov 30, 2000 Speaking in parliament on Thursday, Dreifuss said the government was seeking only to ban the feeding of animal meal to herbivorous animals. She said the measure should be in place by next March. However, she backed away from calling for a total ban on the use of animal meal as feed, saying it could still…

Senate votes for partial abolition of stamp duty

This content was published on Nov 29, 2000 The Senate unanimously came out in favour of exempting foreign funds being traded on the Swiss stock exchange, as well as Swiss blue chips floated on foreign stock markets. However, it stopped short of granting the same privilege to Swiss institutional investors, including social insurance funds. The finance minister, Kaspar Villiger, told parliament on Wednesday…

GDP growth expected to slow

This content was published on Nov 29, 2000 The institute’s leading indicator for the Swiss economy fell to 1.09 in October from a downward revised 1.14 in September. This signals how gross domestic product should perform in six to nine months’ time. “The slowdown in GDP growth will last past the end of the year, according to the KOF cycle barometer’s trend information,”…

Saia-Burgess expands in Germany

This content was published on Nov 29, 2000 LTD specialises in the development and production of locking systems, especially door locks for tumble-dryers, washing machines and dishwashers for domestic and industrial use. Saia-Burgess, which makes micro-switches, sensors and electrical engines, said in a statement: “This acquisition, like the recently announced participation in MiCS, the Neuchatel based sensor manufacturer, is a further step in…

Sharply lower profits at Gretag

This content was published on Nov 29, 2000 “Due to lower sales and unexpected costs in the second half of this year, net profit of SFr45 million to SFr55 million ($25-31 million) for 2000 will clearly fall short of what was previously expected,” Gretag said in a statement. On Wednesday, the company said that its chairman, William Recker, would take on the additional…

Swisscom presents mixed results

This content was published on Nov 29, 2000 However, the company said net profits would be slightly higher. Sales in the third quarter rose by 36 per cent to SFr10.5 billion, with much of the increase coming from Swisscom’s German mobile communications subsidiary, debitel, which posted revenues of SFr2.9 billion. Swisscom’s mobile communications business remained a growth sector with revenues rising by 21…

Celebrating the pickle jar at the Thurgau Kunstmuseum

This content was published on Nov 29, 2000 The exhibition title, “Eingemachtes”, is a German wordplay, meaning both “pickle” and “getting to the heart of the matter”. Over 400 cooks have given Bottini more than 1,000 jars of pickles, plus the recipes used to make them. With preserves ranging from sugared fruit, mushrooms in vinegar, to a variety of relishes and chutney, the…

Body promoting Swiss image abroad faces cuts

This content was published on Nov 28, 2000 The decision to cut funding for “Presence Switzerland” was part of a wide-ranging debate in parliament on Tuesday on next year’s federal budget. The House approved a proposal to reduce the agency’s budget by SFr4 million to SFr7.5 million ($4.2 million). However, the Senate is likely to overurn the cutbacks when it debates the issue…

Finance ministry shelves plans for tax benefits

This content was published on Nov 28, 2000 Villiger said the delays were necessary to balance the federal budget over the next years. He warned that the deficit could reach SFr1 billion ($560 million) by 2004, if parliament approves the extra spending. In 1994, the federal government chalked up a record budget deficit of SFr7 billion. As a result, voters in 1998 approved…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Nestlé bids goodbye to four bourses

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Government backs away from total ban on animal meal

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Senate votes for partial abolition of stamp duty

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GDP growth expected to slow

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Saia-Burgess expands in Germany

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Sharply lower profits at Gretag

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Swisscom presents mixed results

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Celebrating the pickle jar at the Thurgau Kunstmuseum

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Body promoting Swiss image abroad faces cuts

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Finance ministry shelves plans for tax benefits

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