Archive – Banking & Fintech

The business week in Switzerland

This content was published on Mar 3, 2000 It’s been a mixed week on the business front in Switzerland, with the news of job losses at the engineering group, Von Roll, dampening evidence that the economic recovery is still accelerating. – The engineering group, Von Roll, announced it was cutting 650 jobs, or ten per cent of its workforce, after 1999 results showed…

Ogi against car-cutting initiative

This content was published on Mar 2, 2000 The Swiss president, Adolf Ogi, opening the 70th Geneva motor show, has voiced his opposition to a popular initiative aimed at halving the traffic on Swiss roads. Ogi said the initiative, if successful, would put a brake on economic growth. Jobs, personal freedom and Switzerland’s bilateral agreements with the European Union would also be put…

Revellers turn out in force to greet Carnival season

This content was published on Mar 2, 2000 The traditional Carnival season is getting into full swing in Switzerland. Thousands of revellers have taken to the streets of Lucerne and other towns in predominately Catholic areas of the country, to enjoy what many consider to be the best days of the year. An estimated 10,000 carnival enthusiasts were out in the streets of…

Swiss trade deficit increases

This content was published on Mar 2, 2000 Switzerland’s trade deficit with the rest of the world widened to SFr 508.2 million in January, from SFr 396.5 million the previous month. Imports rose 19.4 per cent to just over SFr9 billion francs, while exports increased by 7.4 per cent to around SFr8.5 billion. The finance ministry said imports rose significanty from all trading…

Geneva Motor Show celebrates 70th year

This content was published on Mar 1, 2000 Thousands of car enthusiasts from around the world have been descending on Geneva for the city’s 70th annual motor show.. The show’s organisers are predicting a record-breaking year with some 700,000 people expected to attend the ten-day event. Firmly established as one of the top four motor shows in the world, the Geneva exhibition is…

ABB Switzerland pleased with 1999 result

This content was published on Mar 1, 2000 The Swiss subsidiary of the engineering group, ABB, has announced a four per cent drop in net profits to SFr251 million last year. However, that follows the spin-off of its electricity production division into ABB Alstom Power. Taking a comparable group structure, ABB Switzerland said the year-on-year profit was up 26 per cent to SFr286…

Helmet-wearing cyclists set to cash in

This content was published on Mar 1, 2000 The Swiss office for the prevention of accidents is to give 20 francs to anyone buying a new cycling helmet. The office has launched a campaign, under the slogan “Wise heads protect themselves”, aimed at drastically increasing the number of cyclists wearing protective headgear. The scheme, which is available to up to 20,000 cyclists, will…

Nestlé to expand in Japan with purchase of vending machine concern

This content was published on Mar 1, 2000 The Japanese division of the Swiss food giant, Nestlé, has announced it is acquiring a major vending machine business in Japan from the UCC Ueshima Coffee Company. Under the terms of the agreement, Nestlé Japan will take over more than 100,000 units with sales of about SFr643 million In a statement from its headquarters in…

Ares-Serono profits surge

This content was published on Mar 1, 2000 The biotechnology group, Ares-Serono, has exceeded all expectations by announcing a 141 per cent increase in annual income. The net profit of SFr297.5 million was achieved on annual sales of just over SFr1.67 billion. Turnover for the previous year was SFr1.5 billion. The Geneva-based company said the increase was largely due to a 43 per…

Machine industry sees increased growth in 2000

This content was published on Feb 29, 2000 Switzerland’s machine industry expects an export-led recovery this year. The optimism is based on fourth quarter results for 1999, when orders went up 12 per cent compared with the same period in the previous year. “The forecasters are predicting that orders will go up by ten per cent this year,” said Johann Schneider-Amman, president of…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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The business week in Switzerland

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Ogi against car-cutting initiative

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Revellers turn out in force to greet Carnival season

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Swiss trade deficit increases

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Geneva Motor Show celebrates 70th year

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ABB Switzerland pleased with 1999 result

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Helmet-wearing cyclists set to cash in

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Nestlé to expand in Japan with purchase of vending machine concern

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Ares-Serono profits surge

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Machine industry sees increased growth in 2000

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