Archive – Banking & Fintech

Nestlé reveals leap in profits

This content was published on Feb 25, 2000 The world’s biggest food group, Switzerland’s Nestlé, has surpassed analysts’ expectations and revealed a 12 per cent, or SFr4.7 billion increase in net profits for 1999. Market forecasters had predicted an increase of just six per cent. Numbers at the canton Vaud based multinational were up across the board, with turnover increasing four per cent…

Winter cheer for Swiss hotel industry

This content was published on Feb 25, 2000 Deep snow and low prices have brought good news for the Swiss hotel industry. It has seen an increase in trade for January of four per cent over the same time last year. The federal statistics office said it was the third year in a row that there had been a rise in the January…

Swiss firms focus on CeBIT

This content was published on Feb 24, 2000 Switzerland’s high-tech firms have their eyes focused on the German city of Hannover over the next week to present their latest products at the world’s largest information technology show, CeBIT. With 126 companies flying the Swiss flag, Switzerland ranks number five in the countries exhibiting at the annual World Business Fair for Office Automation, Information…

Virtual watches made to order

This content was published on Feb 24, 2000 A Swiss company is giving anyone looking for a new watch, the chance to design and order their own over the Internet. Domino Watch, based in Grenchen, in canton Solothurn, opened its doors on Thursday as the world’s first ever virtual watchmaker. Company owner, Eric von Schulthess, said customers can choose from a range of…

Swatch seals dream deal with Sega

This content was published on Feb 24, 2000 One of Switzerland’s best known watchmakers, Swatch, is seeking to push forward the boundaries of timepiece technology with a new joint development deal with Japan’s Sega Enterprises. Swatch and Sega, the world’s third largest video-game console maker, want to develop jointly a new service linking a watch to Sega’s Dreamcast video game console. This new…

Price ombudsman highlights achievements

This content was published on Feb 24, 2000 Switzerland’s price ombudsman, Werner Marti (pictured), says his recommendations on revised medical charges have saved consumers around SFr1 billion. Marti also said his office’s negotiations with Cablecom, the banks and water providers had ensured a better value-for-money service. Marti said during his review of 1999, that he had managed to look into a number of…

Goverment offers SFr338 million backing to Expo

This content was published on Feb 23, 2000 The Swiss government has proposed granting the planned national exhibition a deficit guarantee of SFr338 million. The final decision will be made by parliament at its next session in March. The deficit-guarantee approved by the cabinet at its weekly cabinet meeting is SFr 18 million higher than what Expo 02’s organisers had asked for. The…

Crossair profits down

This content was published on Feb 23, 2000 The regional airline, Crossair, a subsidiary of the SAir group, has owned airline announced profits down 20 per cent at SFr51 million for 1999. The airline will also cut its dividend for shareholders to SFr30 from SFr37.50. The company said its results were down due to the difficult environment in the business, and that the…

Ciba back in the black

This content was published on Feb 23, 2000 The specialty chemicals group, Ciba, has announced a return to profit. The Basel-based group has recorded a profit of SFr325 million for 1999, compared to a loss of SFr739 million in 1998. Turnover was also up, increasing seven per cent to nearly SFr9 billion for last year. The final figures are better than the market…

Industry warns of high cost of abandoning nuclear power

This content was published on Feb 22, 2000 Switzerland’s nuclear industry has warned that closing down the country’s four nuclear power stations would cost the economy SFr40 billion. Nuclear energy currently meets 40 per cent of Switzerland’s electricity needs. However, environmental groups have attacked the claims, suggesting they fail to take account of the costs of decommissioning the plants when they become obsolete,…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Nestlé reveals leap in profits

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Winter cheer for Swiss hotel industry

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Swiss firms focus on CeBIT

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Virtual watches made to order

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Swatch seals dream deal with Sega

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Price ombudsman highlights achievements

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Goverment offers SFr338 million backing to Expo

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Crossair profits down

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Ciba back in the black

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Industry warns of high cost of abandoning nuclear power

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