Archive – Banking & Fintech

Tourism operators celebrate third boom year

This content was published on Mar 16, 2000 Things are looking bright for the Swiss tourist industry, with two of the country’s leading operators posting record results. The Migros subsidiary, Hotelplan, has released figures that show a record performance for the third year in succession. Group profit in 1999 rose by 22.9 per cent to SFr34.8 million, while turnover was up 9.4 per…

Swiss aluminium producer sees profits rise for sixth year running

This content was published on Mar 16, 2000 The Swiss aluminium and packaging company, Algroup, has recorded an increase in its net profit for the sixth consecutive year. Net profits grew by 15.8 per cent to SFr 440 million. Turnover increased by a more modest sum, rising 1.2 per cent to SFr 6.55 billion. The company said all divisions had contributed to growth…

Cyber power house opens its doors in Basel

This content was published on Mar 16, 2000 A new “power house” information technology service centre has opened in Basel to provide support for the city’s chemical and pharmaceutical industries. Hailed as the first of its kind in the world, the cyber centre is a joint venture between United States computer company Hewlett Packard and the IMG consulting firm in St Gallen. HP…

Strong performance pushes Swatch dividend higher

This content was published on Mar 16, 2000 Swatch has upped its share dividend to 24 per cent, following strong sales in 1999. The Swiss watchmaker saw net profits rise by nearly 23.5 per cent over the previous year on sales growth of almost 11 per cent. The Swatch board decided to up the dividend by three per cent over 1998, after net…

Swisscom executive buys out subsidiary

This content was published on Mar 15, 2000 A Swisscom executive has staged a partial management buy-out of one of the company’s subsidiaries. The former head of Swisscom Mobile, Walter Heutschi (pictured), is to take control of Comfone, which focuses on international roaming. Comfone’s area of business – international roaming – enables customers to use their mobile phones across country borders. Swisscom will…

Nestlé upbeat about prospects for coming year

This content was published on Mar 15, 2000 The world’s largest food group, Nestlé, has given an upbeat assessment of its prospects for the coming year. It said 1999 sales were hard hit by currency fluctuations in Brazil, but that it was looking forward to continued growth in its bottled water division. In a letter to shareholders, Nestlé said it was “moderately optimistic”…

Parliament debates electricity liberalisation

This content was published on Mar 15, 2000 The government’s proposals for liberalising the electricity market in Switzerland are facing a tough challenge in parliament. The law has taken years to draft, but is expected to be trimmed, if not even drastically altered, by the assembly. The government wants both industrial consumers and private households to have a choice in whom they draw…

Kuoni results soar to all time high

This content was published on Mar 15, 2000 The biggest Swiss travel company, Kuoni, has lived up to expectations to reach a record performance over 1999. Turnover rose by a fifth to SFr3.5 billion, despite the failed bid to merge with its British counterpart, First Choice. The Zurich-based firm said its overall company results before tax soared to an all-time high of SFr152.8…

Parliament gives cautious welcome to electricity liberalisation

This content was published on Mar 15, 2000 The House of Representatives has put its weight behind the progressive liberalisation of Switzerland’s electricity market. But parliamentarians stressed they did not want any new company to monopolise the industry and allow bosses to cash in on the sudden opening up of the market. In a wide-ranging debate on electricity liberalisation, parliamentarians agreed to the…

Roche given go-ahead to reduce stake in US subsidiary

This content was published on Mar 15, 2000 The Swiss pharmaceutical giant, Roche, has been given the go-ahead to sell up to 19 million shares in the American biotechnology company, Genentech. At current prices, Roche stands to net more than SFr5 billion. The US Securities and Exchange Commission, which oversees trading on Wall Street, raised no objections to Roche’s plans to divest itself…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Sign in and personalize Swissinfo

Archive – Banking & Fintech

More

Tourism operators celebrate third boom year

More

Swiss aluminium producer sees profits rise for sixth year running

More

Cyber power house opens its doors in Basel

More

Strong performance pushes Swatch dividend higher

More

Swisscom executive buys out subsidiary

More

Nestlé upbeat about prospects for coming year

More

Parliament debates electricity liberalisation

More

Kuoni results soar to all time high

More

Parliament gives cautious welcome to electricity liberalisation

More

Roche given go-ahead to reduce stake in US subsidiary

Popular Stories

Most Discussed