Archive – Banking & Fintech

Holders of dormant accounts to benefit most from Holocaust fund

This content was published on Sep 12, 2000 The distribution plan, drawn up by a “Special Master” of the New York district court handling the fund, has earmarked some $800 million for holders of dormant accounts in Swiss banks. Also eligible are people forced to work as slave labourers in Swiss firms in Germany during the Second World War, as well as refugees…

Swiss franc hits historic high against ailing euro

This content was published on Sep 12, 2000 The franc is now at its highest level against the German mark – one of the currencies the euro is replacing – for more than two decades. The euro fell to a low of SFr1.5168 in late Asian trading. Against the dollar it sank to $0.8583. By the end of trading in London on Tuesday,…

Swiss business pushing for more access to Chinese markets

This content was published on Sep 12, 2000 Led by the State Secretary in the Economics Ministry, David Syz, the 12 strong business delegation wanted to gain better access to China’s markets for insurance and watches. Their talks focused largely on Chinese membership of the World Trade Organisation (WTO), which Switzerland – along with a handful of other countries – has yet to…

ABB to expand Chinese investment

This content was published on Sep 12, 2000 Sinopec handles 50 per cent of crude oil shipped to China, and is due to be privatized later this year. It’s expected to be worth several billion dollars after its initial public offering. The biggest shareholders are expected to be oil companies such as BP Amoco. ABB and Sinopec have cooperated closely in recent years,…

Out & About in Switzerland: The Swiss navy on parade

This content was published on Sep 12, 2000 Thousands of curious onlookers are expected to line the shores of Lake Lucerne for the Swiss Navy Parade. Some will be wondering why Switzerland has a navy at all; others might ponder why it is based on lake Lucerne, which is as far away from the country’s borders as it is possible to be. But…

Galenica sales pass billion-franc threshold

This content was published on Sep 12, 2000 Net profit rose 22.9 per cent to SFr27.7 million. Based on the results, the group sounded an optimistic note for the year as a whole. “Galenica expects that its full year 2000 profit will be over 10 per cent higher for the fifth time in a row,” said a company statement. Galenica plans to expand…

Distribution plan to be unveiled for Holocaust survivors

This content was published on Sep 11, 2000 The United States district judge who approved the settlement, Edward Korman, was also due to announce a final list of Swiss companies, which will be included in the agreement. Swiss companies that employed slave labour during the Second World War were invited to join the settlement in August in exchange for immunity from future lawsuits.…

Crossair pilots win better terms

This content was published on Sep 11, 2000 The Association of Crossair Cockpit Personnel announced on Monday that the improved contract was a success for both the pilots and Crossair, which is part of the SAirGroup. The new five-year contract includes salaries adjusted to market levels, improved insurance cover, more holidays and more days off. It also offers additional payments for overtime and…

Opec decision to boost oil output gets lukewarm response

This content was published on Sep 11, 2000 Oil prices have surged to 10-year highs in recent weeks to around $35 dollars a barrel, raising fears of a global economic slowdown. There are also concerns that low fuel stocks could trigger shortages as the northern hemisphere moves into winter. Opec oil ministers meeting in Vienna on Sunday said they wanted to see prices…

BIS proposes share buy-back programme

This content was published on Sep 11, 2000 The Basel-based organisation will offer SFr16,000 per share. An extraordinary general meeting is to be held on January 8 to vote on the proposal. BIS shares are traded in Switzerland and Paris. They last traded at SFr8,195 in Switzerland and at 4,050 euros in Paris. Trading was suspended on Monday but will resume on Tuesday.…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Holders of dormant accounts to benefit most from Holocaust fund

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Swiss franc hits historic high against ailing euro

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Swiss business pushing for more access to Chinese markets

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ABB to expand Chinese investment

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Out & About in Switzerland: The Swiss navy on parade

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Galenica sales pass billion-franc threshold

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Distribution plan to be unveiled for Holocaust survivors

More

Crossair pilots win better terms

More

Opec decision to boost oil output gets lukewarm response

More

BIS proposes share buy-back programme

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