Archive – Banking & Fintech

Swiss say no to plan to halve traffic

This content was published on Mar 12, 2000 A proposal to halve the amount of traffic on Swiss roads has been turned down in a national vote. It was rejected by most of Switzerland’s cantons, and was dismissed by a majority of voters as well. The proposal was a people’s initiative which was put to a national vote after its supporters collected the…

The business week in Switzerland

This content was published on Mar 10, 2000 Shares on the Swiss market moved lower over the week while the Swiss franc continued to look weak against the dollar, which bought around SFr1.67, while the euro remained stable against the Swiss currency, buying SFr1.6050. Among the major business stories of the week here in Switzerland: – UBS announced a doubling in profits to…

Unemployment takes downward turn

This content was published on Mar 10, 2000 The number of people unemployed in Switzerland has declined after three months of increase, confirming the recovery of the Swiss economy. Figures for February show there were 88,702 people without a job – 3,929 fewer than the previous month. The unemployment rate fell by 0.2 per cent to 2.4 per cent of the working population.…

UBS announces profits in 1999 have doubled

This content was published on Mar 9, 2000 Switzerland’s largest banking group, UBS, has reported that its profits doubled in 1999, to reach SFr6.3 billion (1998: SFr3.030 billion). It also gave an upbeat assessment of this year’s business so far. The UBS profits for last year represent basic earnings per share of SFr31.91 and a return on equity of 21.2 per cent before…

Swiss economic growth has strengthened

This content was published on Mar 9, 2000 Swiss economic growth continues to pick-up pace. Gross Domestic Product in the fourth quarter of 1999 accelerated to 3.7 per cent, mainly driven by foreign demand. The State Secretariat for Economic Affairs in Berne reports that growth for 1999 as a whole was 1.7 per cent, compared to 2.1 per cent the previous year. A…

Lonza registers major rise in profits

This content was published on Mar 9, 2000 The Lonza specialty chemicals group recorded a strong performance in 1999, with profit rising 16.3 per cent over the previous year to SFr273 million. A statement from company headquarters in Zurich said that following its public flotation last November, the Lonza Group had achieved an “outstanding result” thanks to the contribution of its fine chemicals…

Mixed bag of results for Sulzer

This content was published on Mar 9, 2000 Swiss technology group Sulzer has revealed a mixed set of results. Net profit at the Winterthur-based company rose 39 per cent over the 1998 figure to SFr254 million. However, operating profit before one-off gains are taken into account dropped 20 per cent to SFr 309 million. “Sulzer business developed in two opposite directions last year:…

SIG corporation reports loss in earnings

This content was published on Mar 9, 2000 The SIG industrial corporation, active in packaging and small arms, showed a clear loss in earnings last year. After restructuring expenses of SFr111 million, SIG had a negative net profit of SFr-43 million. A statement from company headquarters in Neuhausen said the SIG Group experienced weak consumption and investment in the Asian, South American and…

Tourism sector calls on politicians for help

This content was published on Mar 8, 2000 Representatives of Switzerland’s tourism sector are calling for more official support for the industry. The three main tourism associations are demanding lower taxes and an end to what they describe as an expansion of social security. High taxes, in particular Value Added Tax, would slow down consumer demand drastically, three of Switzerland’s main tourism associations…

Sunday’s vote: cutting traffic in half

This content was published on Mar 8, 2000 At the weekend the Swiss will vote on a proposal to halve traffic in the country. Critics of the initiative say the proposal makes no economic sense, and that it will be detrimental to employment. With 3.5 million cars for 7 million inhabitants, Switzerland is one of Europe’s most motorised countries. But with such mobility…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss say no to plan to halve traffic

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The business week in Switzerland

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Unemployment takes downward turn

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UBS announces profits in 1999 have doubled

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Swiss economic growth has strengthened

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Lonza registers major rise in profits

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Mixed bag of results for Sulzer

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SIG corporation reports loss in earnings

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Tourism sector calls on politicians for help

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Sunday’s vote: cutting traffic in half

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