Archive – Banking & Fintech

Rolex watch sold for record price at auction

This content was published on May 17, 2011 Produced by Rolex in 1942, the watch is one of only 12 models created, of which only eight are known to have survived. The Rolex wristwatch (reference 4113) has a nickel-finished lever movement, 17 jewels, silver matte dials and applied pink gold Arabic and baton numerals. It features several complex technical features, including a split…

Rolex looks to renew classic brand

This content was published on May 17, 2011 In a surprise move earlier this month, privately-owned Rolex said it would replace former banker Bruno Meier as chief executive after just two years in the job. Head of Rolex Italy Gian Riccardo Marini, 62, was named as CEO with immediate effect, while Daniel Neidhart, 49, has been appointed to the new position of head…

Cleantech business faces dirty practices

This content was published on May 14, 2011 According to Joachim Esser, just one of the many people working in the cleantech business, stricter criteria need to be enforced and patents in the field offered better protection. “Cleantech isn’t just about solar cells and windmills, or projects in the desert or publicly traded firms such as Oerlikon Solar,” Esser told swissinfo.ch. “There are…

Shareholders refuse Transocean discharge

This content was published on May 13, 2011 The Zug-registered company owned the Deepwater Horizon rig which drillied the well for BP in the Gulf of Mexico that blew out in April 2010, causing the worst oil spill in US history. Had the discharge motion been approved at the annual general meeting on Friday, it would have protected the directors and managers from…

UBS to pay millions to a US customer

This content was published on May 12, 2011 UBS plans to challenge the verdict at a canton Zurich court, as a bank spokesman told the Swiss media on Thursday. On September 1, 2008, the client issued the bank a written order to sell all of the American securities in the accounts of his Hong Kong-based company. However, the bank did not act straight…

Egyptian tycoon wants to revamp Swiss ski areas

This content was published on May 12, 2011 A letter of intent published on Wednesday shows that Andermatt Swiss Alps – a subsidiary of Sawiris’ Orascom Development – is joining forces with SkiStar. Together they plan to invest SFr140.8 million ($159.8 million) in the project. “The development is conditional on agreements being reached with existing shareholders, creditors and the respective cantons of Graubünden…

Beacons of hope

This content was published on May 12, 2011

More funding for hazardous waste site

This content was published on May 10, 2011 The latest tranche of funding, which the parties said they accepted “through gritted teeth”, brings the total cost of remediation work on the site in central Switzerland to SFr770 million. Kölliken is Switzerland’s largest hazardous waste site and was in operation, run by a consortium, from 1978 to 1985, when it was closed by the…

Jetman buzzes Grand Canyon after all

This content was published on May 10, 2011 Details about the flight were announced by Rossy’s publicity handlers on Tuesday, after swissinfo.ch reported the successful completion of the stunt by the Swiss daredevil, based on confirmation from two people close to the event. Flying his jet-propelled wing attached to his back, and steering only by moving his body, Rossy launched from a helicopter at…

The strongest and feistiest of the lot is the winner

This content was published on May 9, 2011

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