Archive – Banking & Fintech

Controversial Swiss, Italian rail cargo venture signed

This content was published on Feb 2, 2000 A rail cargo joint venture between the Swiss Federal Railways and Italian State Railways has been signed in Rome, creating the second biggest concern in European freight transport. However, rail workers in Italy have opposed the new co-operation agreement and have called for a strike on February 18. The two rail companies have formed Cargo…

Government approves revision of pension scheme

This content was published on Feb 2, 2000 The Swiss cabinet has approved the latest revision of the old age pension scheme which foresees a cut in government expenditure of SFr1.3 billion. The Interior minister, Ruth Dreifuss, (pictured) presented the proposals to the cabinet. The aim of the 11th revision of the old age pension scheme is to consolidate the progress that has…

Rising gas use may spark new industry in Switzerland

This content was published on Feb 1, 2000 Switzerland could soon become a producer of natural gas, if domestic consumption continues to grow. Gas usage reached record levels in 1999, leading to speculation that it may soon be viable for Switzerland to begin exploiting its untapped reserves. Historically, it has not made economic sense for Switzerland to produce its own natural gas. But…

Zurich firm takes stake in British insurer

This content was published on Feb 1, 2000 Zürich Financial Services is expanding in Britain, with the takeover of the distribution operations of a leading British insurance company, Abbey Life. The deal is worth SFr208 million, a spokesman for the company said in Zürich. The British subsidiary of the company has carried out the takeover. The move will mean the creation of the…

PC sales in Switzerland pass one million mark

This content was published on Feb 1, 2000 Sales of personal computers in Switzerland passed the one million mark for the first time last year – an increase of nearly 15 per cent over 1998, according to a public consultancy firm. Figures released by the Zurich-based Robert Weiss Consulting showed that 1,033,000 PCs were sold in Switzerland last year. However, in percentage terms…

UBS predicts strong growth for Swiss economy

This content was published on Feb 1, 2000 Switzerland’s biggest bank, UBS, is predicting a strong economic recovery, after final quarter figures for 1999 showed the economy was now performing better than at any time in the past ten years. A UBS survey of 300 Swiss industrial concerns showed a strong upturn in performance in the months from October to December 1999, with…

Construction eating into agricultural land

This content was published on Jan 31, 2000 A new report by the Federal Planning Office shows the extent to which Switzerland’s greenbelt land is being eroded by home-building. It says that one square metre of land is built on every second, and the result has been a reduction in the amount of land used for farming. The findings reveal that almost 300…

Bill Gates brings insights and cash to Davos summit

This content was published on Jan 31, 2000 Bill Gates has been offering his insights into the future of the Internet, at the World Economic Forum summit in Davos. He said the World Wide Web would eventually transform the lives of everyone – even those without access to the technology. Around 2,000 of the world’s most influential business leaders have been taking part…

Novartis venture fund starts to pay off

This content was published on Jan 31, 2000 The Novartis life sciences group in Basel says its venture fund, which encourages new business projects, has helped create or preserve some 650 jobs since being founded three years ago. The figure includes 420 jobs last year alone. Novartis said that in 1999, the fund had helped 20 companies, bringing to 66 the total number…

Bobst announces takeover offer for British company

This content was published on Jan 31, 2000 The Lausanne-based Bobst group, which develops and manufactures machinery for the packaging industry, says it has reached agreement on a cash offer for Fairfield Enterprises, the parent company of Oscar Friedheim. Bobst said it had been represented by the trading company Oscar Friedheim for most of its products in Britain and Ireland for more than…

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Controversial Swiss, Italian rail cargo venture signed

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Government approves revision of pension scheme

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Rising gas use may spark new industry in Switzerland

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Zurich firm takes stake in British insurer

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PC sales in Switzerland pass one million mark

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UBS predicts strong growth for Swiss economy

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Construction eating into agricultural land

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Bill Gates brings insights and cash to Davos summit

More

Novartis venture fund starts to pay off

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Bobst announces takeover offer for British company

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