Archive – Banking & Fintech

Swiss Post Office studies future role of Postfinance

This content was published on Feb 18, 2000 The financial arm of the state-owned Swiss Post Office, Postfinance, is looking at ways of repositioning itself for the future. A project group set up by the Post’s board of directors has been studying all possible options, including the controversial question of privatisation of the Postbank. Privatisation is a thorny political issue. The economics minister,…

UBS announces major reorganisation

This content was published on Feb 18, 2000 Switzerland’s largest bank, UBS, has announced a major reorganisation of its structure, designed to unlock the banking giant’s growth potential. Analysts say the move is designed to create a leaner and more streamlined organisation. Private banking, which has faced problems expanding its business, is to be merged with the division UBS Switzerland headed by Stephan…

Atraxis signs deal with South African Airways

This content was published on Feb 17, 2000 The Swiss based information technology group, Atraxis, has signed a deal worth more than SFr1 billion with Africa’s largest airline, South African Airways (SAA). Atraxis, which is SAirGroup’s specialist information technology (IT) subsidiary, is to upgrade and maintain the airline’s IT infrastructure. As part of the deal, which is scheduled to run for 12 years,…

Swiss Railways introduce tilting train

This content was published on Feb 17, 2000 The Swiss Federal Railways have presented the first two production models of their new tilting trains which will come into service at the end of May. Capable of reaching speeds of 200 kilometres per hour, the new trains with seven coaches and room for 480 passengers, will be able to cut journey times by 15…

Georg Fischer wins major order from VW

This content was published on Feb 17, 2000 The industrial concern, Georg Fischer, has won an order from the German car-maker, Volkswagen, worth more than SFr 200 million. The order covers the production and delivery of cast iron chassis components for the T5 utility vehicle. Production is scheduled for between 2002 and 2008. Volkswagen says it has based the Georg Fischer order on…

Fresh calls to promote green products

This content was published on Feb 17, 2000 The Swiss charity, Swissaid, is calling on the government to do more to promote organic products. It says public subsidies should be redirected away from research into genetically modified (GM) crops. At its annual press conference in Berne on Thursday, the non-governmental organisation urged parliament to endorse a ten-year moratorium on GM products saying that…

Novartis figures better than forecast

This content was published on Feb 17, 2000 The life sciences giant, Novartis, has published much better than expected yearly results. Net profit for 1999 rose to SFr 6.659 billion, an 11 per cent increase on the previous year. Most analysts had forecast an increase of around four per cent. Turnover was up two per cent to SFr 32.5 billion. “During 1999 we…

Couchepin tackles double taxation problem in India

This content was published on Feb 16, 2000 The Swiss economics minister, Pascal Couchepin, has signed two accords with India during a four-day visit to the subcontinent. Couchepin and the Indian finance minister, Yashwant Sinha, (pictured) exchanged instruments ratifying an agreement on the protection of investments and the signing of a protocol modifying the double taxation agreement between the two countries. They underlined…

Swiss economy expected to show strong growth

This content was published on Feb 16, 2000 The chief economist of the UBS group, Peter Buomberger, is predicting that the Swiss economy will show strong growth of 2.5 per cent in the early part of this year. For the year 2000 as a whole, he says average GDP growth will be two per cent. In an interview with the economics weekly, Handelszeitung,…

Post Office sets up integrated print service

This content was published on Feb 16, 2000 The Swiss Post Office is launching a pilot project designed to expand its services for businesses. It plans to offer a mass printing facility to complement its existing distribution service. Called Hybrid-post, the service will provide a printing and delivery service for receipts, bills and statements, with the whole process being carried out under one…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss Post Office studies future role of Postfinance

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UBS announces major reorganisation

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Atraxis signs deal with South African Airways

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Swiss Railways introduce tilting train

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Georg Fischer wins major order from VW

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Fresh calls to promote green products

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Novartis figures better than forecast

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Couchepin tackles double taxation problem in India

More

Swiss economy expected to show strong growth

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Post Office sets up integrated print service

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