Archive – Banking & Fintech

SIG announces partial sale of weapons division

This content was published on Oct 4, 2000 SIG, based at Neuhausen in canton Schaffhausen, said on Wednesday the deal was being backdated to January 1 of this year. It is selling off its sectors making guns, hunting weapons and parts for artillery weapons. SIG said it was still looking for buyers for the rest of its arms division. The firm, founded in…

Rising fuel costs boost inflation

This content was published on Oct 4, 2000 The September figure is a marked increase on the previous month. In August inflation was running at just 1.3 per cent. The upturn in prices in September was attributed almost entirely to the increase in oil and fuel costs over the past month. The Federal Statistics Office said the September figure would have been up…

SIG to announce arms division sale

This content was published on Oct 4, 2000 Trade in shares in the company, which is increasingly focusing on packaging technology, was halted on Wednesday by the SWX Swiss Exchange at the company’s request. SIG, based in Neuhausen am Rheinfall, said it would give details at a press conference in Zurich later on Wednesday. SIG has said there had been intensive contacts with…

Carrefour enters Swiss market

This content was published on Oct 4, 2000 Announcing the deal on Wednesday, Carrefour said it would own 40 per cent of the joint venture, which will begin operating on January 1, 2001. After five years its stake will increase to 50 per cent, strengthening Carrefour’s presence in the Swiss market. The family-owned Maus Freres group owns the Jumbo chain of hypermarkets, which…

Swisscom sells satellite stations

This content was published on Oct 4, 2000 Swisscom’s announced its intention to withdraw from satellite communications earlier this year. The sale is in line with the company’s strategy to focus more on its core businesses in Switzerland, Europe and North America. The move out of satellite communications also allows Swisscom to focus on the more economical submarine cables for its international traffic.…

Postal industry adapting to change

This content was published on Oct 4, 2000 Post-Expo 2000 proves, if proof were needed, that the post is more than just stamps. More than 100 suppliers of the latest postal equipment and technology are displaying their products at Geneva’s Palexpo exhibition centre until Thursday. They include big-hitting companies like IBM, Mannesmann, Siemens, Lockheed Martin and Pitney Bowes, as well as major national…

Senate backs electricity liberalisation

This content was published on Oct 4, 2000 Wednesday’s debate focused on the pace of opening up the electricity market. Under the proposal, consumers would be able to pick their electricity supplier within six years of the new legislation being passed. The new law also foresees the establishment of a national network company to ensure that all suppliers have access to the grid.…

SIG announces majority sale of small arms division

This content was published on Oct 4, 2000 SIG said that the buyers – said to be “successful” in the textile industry in Germany – had acquired the pistols, hunting rifles and barrel manufacturing sectors from the small arms division. The company’s chief executive, Roman Boutellier, told a news conference in Zurich on Wednesday that he was pleased that a majority of jobs…

Central bank boss confident inflation is under control

This content was published on Oct 3, 2000 In an interview with the “Schweizer Illustrierte” weekly magazine, Meyer was asked if rates had peaked. “I would be surprised if we were far away,” he said. “We don’t enjoy high interest rates but we have to guarantee overall economic stability”. The National Bank has pushed up interest rates by around 175 basis points so…

Swiss consumers dig deeper into pockets

This content was published on Oct 3, 2000 With inflation taken into consideration, the increase was 1.6 per cent, according to figures released on Tuesday by the Federal Statistical Office. The Office said sales developed quite differently in the main product groups. They went up nominally by 4.5 per cent (2.3 per cent in real terms) for food, drinks and tobacco, but fell…

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