Archive – Banking & Fintech

Gurit-Heberlein pulls out of automotive industry

This content was published on Oct 13, 2000 In a statement on Friday, Gurit-Heberlein said it would receive SFr677 million ($384.4 million) for the shares. The company said the sale was agreed by both partners in response to increasing consolidation in the world’s automobile industry. It added that the sale would generate “considerable funds”, which would be used to expand its core synthetics…

Sizzling summer leaves hoteliers smiling

This content was published on Oct 13, 2000 Some 11.1 million overnight stays were recorded, 641,000 or 6.1 per cent more than for the same period last year, according to figures published on Friday by the Swiss Statistical Office in Neuchâtel. The result is 9.7 per cent better than the average for the past five summers. The Office said the positive result was…

Couchepin warns farmers of need to reform

This content was published on Oct 12, 2000 Couchepin’s opening address to farmers at the Olma in St Gallen focused on the need for structural reforms, which he said were necessary to reduce the agriculture deficit with the European Union and bring down costs. He added that it would be a mistake to think that agricultural reforms implemented so far were enough. Looking…

Swiss position at WTO comes under fire

This content was published on Oct 12, 2000 “The state secretariat for economic affairs, which is responsible for WTO policies, lacks clarity of vision and has not learned the lessons of the Seattle debacle.” That is the view of the Swiss Coalition of Development Organisations, which presented its arguments at a news conference in Berne on Thursday. The director of the coalition, Peter…

Swisscom on lookout for partner in mobile market

This content was published on Oct 12, 2000 In an interview with the weekly magazine, “Facts”, Alder said the partnership would allow Swisscom to offer more competitive third generation mobile phone services. The company is expected to obtain a licence for a third generation Universal Mobile Telecoms System (UMTS) at a government auction on November 13. Alder said it was unlikely that Swisscom’s…

ABB buys US software technology for drug manufacture

This content was published on Oct 12, 2000 ABB said on Thursday that it was acquiring Base Ten’s Manufacturing Execution Systems (MES) software, which is used in the manufacture of pharmaceutical products. The company said the acquisition would significantly expand ABB’s industrial IT capabilities. ABB said it was already the world’s leading supplier of industrial automation systems for chemical synthesis, an early stage…

Ciba sells most of Hexcel stake

This content was published on Oct 12, 2000 Announcing the deal on Thursday, Ciba said it would sell approximately 14.5 million shares of Hexcel common stock in a transaction valued at $11.00 per share (SFr18), or about $160 million (SFr278 million) in total. “We’re building a compact portfolio of businesses with synergies in shared technologies and markets, and, are specifically strengthening our high…

Swiss admit to stalling on Milosevic accounts list

This content was published on Oct 12, 2000 The state secretariat for economic affairs on Thursday confirmed a report that appeared in the weekly publication, “Weltwoche”, claiming such a delay occurred. However, the authorities said their hesitation did not affect the eventual freezing of assets. The increase in the list of names targeted – from 300 to 600 – was only completed on…

Shares in main Swiss banks nosedive

This content was published on Oct 11, 2000 Zurich’s SMI slid 1.88 per cent to close down 147.20 points at 7665.40 on Wednesday, pulled down by the poor performance of banking sector stock. Credit Suisse shares were battered throughout the day’s trading, ending the session on the Zurich stock exchange down nearly nine per cent at SFr298. Shares in UBS closed down 6.46…

Novartis shareholders give green light to create Syngenta

This content was published on Oct 11, 2000 The shareholders, at an extraordinary general meeting in St Jakobs Hall in Basel, voted overwhelmingly in favour of the plan. AstraZeneca shareholders have still to approve the deal. Both parent companies are eager to divest themselves of their agribusinesses, which have suffered of late amid a global downturn in farming. The new company, called Syngenta,…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Gurit-Heberlein pulls out of automotive industry

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Sizzling summer leaves hoteliers smiling

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Couchepin warns farmers of need to reform

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Swiss position at WTO comes under fire

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Swisscom on lookout for partner in mobile market

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ABB buys US software technology for drug manufacture

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Ciba sells most of Hexcel stake

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Swiss admit to stalling on Milosevic accounts list

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Shares in main Swiss banks nosedive

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Novartis shareholders give green light to create Syngenta

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