Archive – Banking & Fintech

Half-year profits at UBS top SFr4 billion

This content was published on Aug 22, 2000 UBS reported on Tuesday that it had made a net profit after tax and minority interests of SFr2.052 billion ($1.19 billion) for the second quarter of 2000. A communiqué said this represented “outstanding growth” of 138 per cent over the comparable period last year, once the effects of divestments and one-off provisions had been taken…

Sweet-toothed customers push Lindt sales higher

This content was published on Aug 22, 2000 In a statement on Tuesday, Lindt and Sprüngli said it expected group sales to slow slightly in the second half. It noted the last months of 1999 had been particularly good because of extra sales linked to the Millennium. It added that cost reductions and optimising the use of capacity should result in improved operating…

Cooling down in the baths after a hot night in Zurich

This content was published on Aug 22, 2000 But they aren’t just about swimming and sunbathing. They’ve become important meeting places and even cultural hotspots. Thousands of people flock to them every weekend and the one you go to regularly says as much about you as the car you drive. A dip in Lake Zurich is especially refreshing after a hard day in…

German light aircraft crashes in Swiss Alps

This content was published on Aug 22, 2000 A spokesman for the Swiss civil aviation authorities said the plane came down in the Alps in canton Glarus late on Monday. A search operation, which was hindered by bad weather on Monday, resumed early on Tuesday. Helicopters are helping in the operation. The plane – a Cessna 340 – was flying from the Italian…

Bank chief refutes criticism of Swiss system

This content was published on Aug 21, 2000 Speaking on Monday, the Bankers Association president, Georg Krayer, attacked critics of the Swiss banking system, and reaffirmed that Switzerland’s secrecy laws are not up for negotiation. He said the Swiss banking system had an “exemplary regulatory regime, equal to any in the world”. And he rejected what he described as “the rebuke” meted out…

Swatch sees profits double

This content was published on Aug 21, 2000 Turnover at the Biel-based group rose 22 per cent over the same period to SFr2 billion. All areas of the business reported strong sales growth, with luxury watches and electronic systems showing the best performance. The market reaction to the results has been very positive, as the actual figures exceeded analysts’ most optimistic expectations by…

Institute says economy in excellent shape

This content was published on Aug 21, 2000 While painting an upbeat picture of economic conditions – based on a review of 5,000 companies – the Zurich-based Institute said demand might tail off in the second half of the year. Over 80 per cent of companies contacted said they had increased their capacity in the second quarter, but that it had still not…

Mövenpick continues its recovery

This content was published on Aug 21, 2000 Group sales rose by 7.7 per cent to SFr448 million with the total sales (including management and franchise operations) notching up growth of 5.7 per cent to SFr643 million. The net income before minority interests was SFr8.9 million. In a statement, the company said “if the positive economic environment persists, Mövenpick remains optimistic, expecting good…

Success for Novartis in first half

This content was published on Aug 21, 2000 Turnover at the Basel-based group was up 15 per cent, or six per cent in local currencies, compared to the same period last year. Zurich Cantonal Bank analyst, Meinrad Gyr, told swissinfo that “operating and net earnings were in line with market expectations”, and that turnover had slightly surpassed analysts’ forecasts. Novartis’ chief financial officer,…

Profits up at Algroup ahead of planned merger

This content was published on Aug 21, 2000 Algroup, which spun off its chemicals and energy division, Lonza, last year, said the increase in profit came from improved operational efficiency and strong demand. In a statement, Algroup said it was “positive about the performance for 2000, with results expected to exceed the levels seen in 1999”. The Zurich-based company had sales of SFr6.5…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Half-year profits at UBS top SFr4 billion

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Sweet-toothed customers push Lindt sales higher

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Cooling down in the baths after a hot night in Zurich

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German light aircraft crashes in Swiss Alps

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Bank chief refutes criticism of Swiss system

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Swatch sees profits double

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Institute says economy in excellent shape

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Mövenpick continues its recovery

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Success for Novartis in first half

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Profits up at Algroup ahead of planned merger

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