Archive – Banking & Fintech

More remains, some diamonds found in Swissair crash debris

This content was published on Oct 15, 1999 More than a year after the crash of Swissair Flight 111, investigators have recovered more debris that includes human remains. The debris were picked up by the Dutch vessel Queen of the Netherlands, which has been raking the ground with a special suction device (picture). The Transportation and Safety Board said investigators were searching the…

Japanese police raid branch of Credit Suisse unit

This content was published on Oct 14, 1999 Japanese police raided the Tokyo branch of Credit Suisse Financial Products (CSFP), a unit of Credit Suisse Group, on Thursday on suspicion it obstructed an earlier inspection by Japanese financial regulators. It was the first time in memory that Japanese police had raided a foreign bank. CSFP’s Tokyo branch is suspected of instructing employees to…

Swissair, Delta, Sabena, Austrian end trans-Atlantic alliance

This content was published on Oct 13, 1999 (AP) — Swissair, Delta Air Lines, Sabena and Austrian Airlines have agreed to disband their trans-Atlantic alliance, Swissair parent SAirGroup said Wednesday. The dissolution of the Atlantic Excellence code-sharing agreement “was foreseeable following Delta’s decision to cooperate with Air France,” SAirGroup said in a statement. The process “should be completed within the next 12 months…

Swiss National Bank chief says success of euro is “wide open”

This content was published on Oct 13, 1999 The President of the Swiss National Bank Hans Meyer says the race for a successful and stable euro is “wide open,” but that in case of failure Switzerland will have enough room to manoeuvre and survive a crisis. Meyer said in a speech in the German city of Frankfurt late Tuesday that Switzerland had a…

Alpine nations step up joint research project

This content was published on Oct 12, 1999 Switzerland and five other Alpine nations agreed Tuesday to set up a focussed research project that will assess the impact of increasing traffic on mountain regions, as well as the consequences of growing urbanisation in Alpine territories. Research scientists from France, Italy, Austria, Germany, Slovenia and Switzerland agreed to improve joint research efforts and announced…

Frankfurt book fair opens doors

This content was published on Oct 12, 1999 The Frankfurt book fair, often described as the world’s biggest book show, opened its doors in the German city Tuesday. Well over 6000 international publishers – among them 120 from Switzerland – are presenting their works and services both to commercial and individual visitors. Swiss publishers and representatives of major Swiss book stores are highlighting…

Moderate recovery in Swiss exports to Asia

This content was published on Oct 12, 1999 Swiss exports to Asia recovered slightly in the first six months of this year, climbing 2.2 percent but remaining well below the level seen before the Asian financial crisis. The Federal Customs Office said Tuesday that exports increased in all key Asian markets, except for Thailand and Hong Kong. The total value of goods exported…

Government wants balanced budget and moderate tax reform

This content was published on Oct 11, 1999 The Swiss government says that balancing the budget and moderate tax reform aimed at attracting foreign investments should be among the key priorities of Switzerland’s financial policy in the coming years. Presenting the government’s financial policy outline Monday, Finance Minister Kaspar Villiger said the main targets should be to keep a firm grip on government…

Swiss banks ready for new millennium

This content was published on Oct 11, 1999 (AP) — Switzerland’s banking regulator on Monday gave the Swiss financial sector’s preparations for the change of millennium a clean bill of health. Some 98 percent of the country’s financial institutions have successfully completed steps to forestall problems with the so-called millennium bug, the Swiss Federal Banking Commission said in a statement. Final tests are…

Swiss-based Universal Postal Union celebrates 125th anniversary

This content was published on Oct 8, 1999 One of the least-known international organisations in Switzerland, the Universal Postal Union, is this weekend celebrating its 125th anniversary. Based in the Swiss capital Berne, the United Nations agency exists to ensure universal services for all its members and it has faced a number of challenges. The UPU is rolling out the red carpet this…

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