Archive – Banking & Fintech

Pharmaceutical sector sees exports soar

This content was published on Feb 4, 2000 Swiss chemical and pharmaceutical exports soared by nearly nine per cent last year, reaching SFr34 billion. The rise was due to strong sales in the second half of the year. Chemicals and pharmaceuticals rose by 8.6 per cent compared to 1998, but virtually all growth took place in the second half of the year. Before…

Switzerland hikes interest rates to boost currency

This content was published on Feb 3, 2000 The Swiss National Bank has again raised interest rates, following concerns about the weakness of the Swiss franc against the US dollar and the Euro. The move immediately strengthened the franc against those two currencies. The SNB said it was raising its key LIBOR (London Interbank Offered Rate) target range by half a per cent.…

Mysteries of the World: a Theme Park, but not as we know it.

This content was published on Feb 3, 2000 The Mysteries of the World theme park, the brainchild of best-selling Swiss author Erich von Däniken, is a step closer to getting off the ground. The company set up to make the project a reality, Mystery World AG, has announced that Sony, Feldschlösschen-Hürlimann and the Swiss Federal Railways have decided to sponsor the project. The…

Credit Suisse names new head for overall operations in Japan

This content was published on Feb 3, 2000 Credit Suisse has named a new head, Yuji Suzuki, as the new head of its entire operations in Japan, as part of moves to re-establish its reputation in the country. Suzuki, who has been at the Industrial Bank of Japan for more than 30 years, knows the Japanese business scene extremely well, said a spokeswoman…

Pressure mounts for merger between Swiss Federal Railways and Berne operator

This content was published on Feb 3, 2000 One of Switzerland’s main private railways, the BLS Lötschberg Railway, is facing growing pressure to merge with the Swiss Federal Railways. Media reports say BLS is adamantly opposed to any deal, which would undermine its independence. The idea of a merger was first mooted last November, when the chairman of the Federal Railways, Thierry Lalive…

Clariant reports disappointing sales for 1999

This content was published on Feb 3, 2000 The world’s largest specialty chemicals company, Clariant, has reported slow sales for 1999, with turnover increasing by only one per cent over the previous year to SFr9.158 billion. But the company is playing down the results, saying it expects a “sustained upswing” in its target markets this year. Clariant attributed the slight increase in sales…

ABB shows record profits

This content was published on Feb 3, 2000 The Swiss-Swedish engineering firm, ABB, has published its yearly results showing a 24 per cent rise in net profits. Profits rose to almost SFr2.7 billion, well above the estimates of most analysts. Turnover was up four per cent at nearly SFr41 billion. Eleanor Sharraz, who’s a trader at Bank Leu, says the profit figure is…

Doctors back uniform tariff system

This content was published on Feb 2, 2000 After years of often bitter negotiations, Swiss doctors have agreed to introduce a new uniform tariff system, clearing the way for the much-delayed overhaul of the health insurance system. The Swiss Doctors’ Federation reached the agreement on the TarMed fee structure at its assembly in Berne. 144 members of the federation’s highest body backed the…

Controversial rail freight accord being signed with Italy

This content was published on Feb 2, 2000 A rail cargo joint venture between the Swiss Federal Railways and Italian state railways is due to be signed today. But rail workers in Italy have opposed the new co-operation agreement and have called for a strike on February 18. The signing ceremony in Rome was due to be attended by the Swiss Transport Minister,…

Swiss fare well in new Forbes survey

This content was published on Feb 2, 2000 Switzerland’s standing as one of the countries with the lowest overall rates of taxation has been confirmed in a new survey by the American business magazine “Forbes Global”. In a survey of direct taxation, social security contributions and indirect taxes in 30 countries, Switzerland finds itself in 14th place, at a rate comparable with the…

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Archive – Banking & Fintech

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Pharmaceutical sector sees exports soar

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Switzerland hikes interest rates to boost currency

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Mysteries of the World: a Theme Park, but not as we know it.

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Credit Suisse names new head for overall operations in Japan

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Pressure mounts for merger between Swiss Federal Railways and Berne operator

More

Clariant reports disappointing sales for 1999

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ABB shows record profits

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Doctors back uniform tariff system

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Controversial rail freight accord being signed with Italy

More

Swiss fare well in new Forbes survey

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