Archive – Banking & Fintech

Mourners gather to mark anniversary

This content was published on Jul 27, 2000 The mourners, mainly relatives and friends of the dead, held the ceremony above the Saxet Gorge. The victims died when a flash flood swept through the gorge. The service took place around a memorial stone bearing the names of the dead. Bouquets were laid around the monument with the flags of their native countries. The…

Government increases revenues through VAT

This content was published on Jul 27, 2000 The figure represents an increase of SFr500 million on the previous year. Taxable revenues increased by 5.2 per cent on 1997. The statistics office said almost 290,000 companies posted VAT returns with a total turnover of SFr1,338 billion. Of that amount, SFr578 billion was taxable and SFr751 was non-taxable. The increase in taxable revenues was…

Serono releases details of global share offer

This content was published on Jul 27, 2000 The SFr3 billion offering prices bearer shares at SFr1,550 each and American Depositary shares at $23.49 (SFr38.75). Forty ADSs therefore equal one bearer share. Serono said the new ADSs will begin trading on the New York Stock Exchange on Thursday, the same day as the new bearer shares go public on the Swiss Exchange. The…

Takeover battle for Intersport hots up

This content was published on Jul 27, 2000 The London-based company has announced that it now holds 48 per cent of Intersport’s shares. The statement comes a day after Credit Suisse First Boston said Stancroft planned to launch an offer to buy all publicly held shares in Intersport at a price of SFr109 per share. The offer is to be launched on August…

EU gives green light for Novartis agribusiness deal

This content was published on Jul 26, 2000 The European Union’s antitrust watchdog said its approval, which followed a four-month probe, was “subject to a number of divestments offered by the companies to address concerns about the creation or strengthening of dominant positions…” The Commission is concerned that the new company, to be called Syngenta, will be in a position to monopolise some…

The Swiss are tops for computers

This content was published on Jul 26, 2000 A survey released on Wednesday by a German economic institute showed that for every 100,000 people in Switzerland, 42,000 had PCs – the fourth highest rate in the world. Top of the list was Luxembourg with 73,000 per 100,000 people. The United States and Singapore came just ahead of Switzerland. Developing countries, as expected, have…

Leica Geosystems swings into profit

This content was published on Jul 26, 2000 Leica Geosystems makes surveying, positioning and guidance systems and laser measuring systems. It increased its sales by 21 per cent at SFr142.6 million. The company said in a statement it expects solid growth in all key geographic regions, and that the trend in order intake was positive. However, the company cautioned the level of growth…

Ciba to join Swiss heavyweights on Wall Street

This content was published on Jul 26, 2000 “We want to gain access to the US capital market, to broaden our shareholder base in the United States, and to gain access to financing opportunities in the US. It also makes employee share participation schemes easier,” said Ciba spokesman, Thomas Gerlach. Ciba denied the listing is intended to pave the way for acquisitions in…

Swiss are big spenders for foreign travel

This content was published on Jul 26, 2000 The Swiss are only topped in their outgoings by the Austrians, who spend an average of $1,173 a year, according to a report on 1998 by the International Monetary Fund and German central bank. In terms of overall spending on foreign visits, people in the United States spent $57 billion. But when population figures are…

Swiss hostages freed after elite police storm yacht

This content was published on Jul 26, 2000 Frogmen from Greek coastguard vessels shot dead the Czech gunmen in an exchange of fire, according to the minister for the Greek Merchant Marine, Christos Papoutsis. He identified the Czech man as 38-year-old Frantisek Veseli. He said that Veseli had arrived in the Greek port of Thessaloniki from the Slovakian capital, Bratislava, on June 26.…

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Mourners gather to mark anniversary

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Government increases revenues through VAT

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Serono releases details of global share offer

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Takeover battle for Intersport hots up

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EU gives green light for Novartis agribusiness deal

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The Swiss are tops for computers

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Leica Geosystems swings into profit

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Ciba to join Swiss heavyweights on Wall Street

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Swiss are big spenders for foreign travel

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Swiss hostages freed after elite police storm yacht

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