Archive – Banking & Fintech

Holcim agrees to $650m Venezuela compensation

This content was published on Sep 13, 2010 The St Gallen-based firm says the agreement signed with the Latin American country includes the suspension of an arbitration case before an international tribunal. The company said in a statement on Monday that it had received a first payment of $260 million and expects to receive the remaining $390 million in four equal yearly instalments.…

Swiss billionaire turns 100

This content was published on Sep 13, 2010 Haefner’s fortune has been estimated at SFr3.3 billion ($3.26 billion) by the US business magazine Forbes, placing him 287 on its list of the world’s richest people. He is also the oldest person worth more than $1 billion. The Zurich-born entrepreneur made his money in CA, formerly Computer Associates, an IT software maker. In Switzerland,…

Bank reform deal sealed in Basel

This content was published on Sep 12, 2010 The delegates met at the Bank for International Settlements (BIS) in Basel on Sunday to hammer out the details of the deal. The Basel III reform is meant to ensure that banks have enough capital to sustain tough times without government aid. The group, chaired by European Central Bank President Jean-Claude Trichet, had yet to…

Searching for a sound solution to aircraft noise

This content was published on Sep 10, 2010 On Thursday the General Court of the European Union in Luxembourg upheld a 2003 ruling of the European Commission that Germany was acting within its rights in imposing night time restrictions on low-altitude flights over its airspace. The problem for Switzerland is that the flights affected are those using Zurich airport, the country’s biggest, which…

Switzerland remains most competitive country

This content was published on Sep 9, 2010 Published on Thursday, the report said Switzerland had “an excellent capacity for innovation” and a “very sophisticated business culture” – categories where it ranked second and fourth out of 139 countries. “Switzerland’s scientific research institutions are among the world’s best, and the strong collaboration between the academic and business sectors, combined with high company spending…

Switzerland remains most competitive country

This content was published on Sep 9, 2010 The United States fell two places to fourth, overtaken by Sweden and Singapore, after already ceding the top place to Switzerland last year. The report, published on Thursday, said Switzerland was characterised by “an excellent capacity for innovation and a very sophisticated business culture”, where it ranked second and fourth respectively. In addition, public institutions…

Global financial crisis still casts shadows

This content was published on Sep 9, 2010 Michel Dérobert tells swissinfo.ch that while the main financial players were quick off the mark when it came to issues relating to tax, there has been little progress on what he considers more important issues at stake. He cites the issue of “too big to fail” and questions relating to the comparative competitiveness of the…

Callebaut signs strategic deal with Kraft

This content was published on Sep 9, 2010 The agreement is expected to more than double the Zurich-based group’s existing business with Kraft. No further terms of the agreement were disclosed. In a statement on Thursday, Barry Callebaut said it would increase its production capacities primarily in the United States, Canada, Ivory Coast, Malaysia as well as in Europe and invest approximately $65…

Swisscom wants full control of troubled Fastweb

This content was published on Sep 8, 2010 Wednesday’s announcement by the Swiss telecommunications firm said it will buy all the outstanding shares in Fastweb – 17.9 per cent. Swisscom will pay €18 (SFr23.03) per share – a premium of 34.6 per cent on Tuesday’s closing price. The deal will cost it €256 million. Once it has acquired all the shares, it will…

Property tipped to survive economic slowdown

This content was published on Sep 8, 2010 A continued steady rise in house prices and demand, fuelled by low interest rates, has led to a spate of warnings from top financial officials in the past few months. But the latest Credit Suisse economic forecast largely dismisses such fears. Economists at Credit Suisse bank believe a real estate bubble is unlikely in the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Holcim agrees to $650m Venezuela compensation

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Swiss billionaire turns 100

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Bank reform deal sealed in Basel

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Searching for a sound solution to aircraft noise

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Switzerland remains most competitive country

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Switzerland remains most competitive country

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Global financial crisis still casts shadows

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Callebaut signs strategic deal with Kraft

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Swisscom wants full control of troubled Fastweb

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Property tipped to survive economic slowdown

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