Archive – Banking & Fintech

Foreign animal “militants” active in Switzerland

This content was published on Aug 7, 2009 Martin Bühler, the spokesman for the Directorate for Analysis and Prevention, told Swiss radio on Friday that incidents involving animal rights radicals make up around ten per cent of its caseload. On Thursday, an organisation called Militant Forces against Huntingdon Life Science (MFAH) claimed responsibility for Monday’s attack on the Austrian holiday home of Daniel…

Switzerland tends its image after damage is done

This content was published on Aug 6, 2009 Officials have allocated SFr2 million ($1.88 million) for 2009 and SFr2.5 million for 2010, which they say will be funnelled into existing image-promotion programmes and spent on political advocacy. Switzerland’s banking secrecy laws have come under attack from both sides of the Atlantic, forcing the country to relax the decades-old tradition. Last Friday, the Swiss…

Abu Dhabi’s eco city gets Swiss touch

This content was published on Aug 6, 2009 The organisers told a media conference that the Swiss Village – currently the only initiative of its kind – will allow firms to showcase clean technologies, as well as build up a business base from the richest emirate. The project has benefited latterly from the support of Osec, the platform for the promotion of Swiss…

Consumer confidence drops to 16-year low

This content was published on Aug 6, 2009 The index for the second quarter of 2009 sank to -42 points, the lowest since July 1993. The result is slightly better than analysts’ predictions. Seco said the slip is due to poor economic forecasts during the last year. Meanwhile, households felt their budgets had also worsened. But the report did contain glimmers of hope,…

Zurich Financial results beat expectations

This content was published on Aug 6, 2009 Although that is only half as much as in the first six months of 2008, the results still exceeded analysts’ expectations. The second-quarter results show that the insurance company had a business operating profit of $1.5 billion, a 41 per cent increase over the first three months of 2009. That amounted to a net profit…

Animal rights extremists step up pressure

This content was published on Aug 5, 2009 According to Geneva University scientist Denis Duboule, a greater public acceptance of animal testing has paradoxically forced extremists to raise their levels of violence in order to be heard. The Tyrolean holiday home of Novartis chairman and CEO Daniel Vasella was badly damaged by fire early on Monday, a week after his mother’s grave was…

Lake Geneva gas drilling plans presented

This content was published on Aug 5, 2009 The company said the SFr22.5 million ($21 million) project had a 15 per cent chance of success, in presenting detailed plans to local authorities in canton Vaud on Wednesday. The project was recently given the go-ahead by Noville authorities after months of discussion. Drilling is expected to start in November and last until 2011. It…

Swiss Re makes surprise Q2 net loss

This content was published on Aug 5, 2009 This compares with a SFr564 million profit made in the comparable period last year. Swiss Re, the world’s second-largest reinsurer by premiums, said in a statement on Wednesday that the net loss was mainly caused by charges on several of its products. However, company CEO Stefan Lippe said that core business in the second quarter,…

Staff costs add to UBS problems

This content was published on Aug 4, 2009 The bank admitted that higher bonus payments had increased staff costs, despite a reduction in its overall headcount. It also said some of its divisions performed poorly compared with rivals. Wealthy clients continued to withdraw assets, with net outflows totalling nearly SFr40 billion in the last three months. The investment banking division reported a SFr1.85…

Swiss arms exports drop

This content was published on Aug 4, 2009 According to figures released by the Federal Customs Office on Tuesday, about 46 per cent of arms exports so far this year have gone to Germany, Denmark and Saudi Arabia, the three biggest buyers. While sales to Pakistan dropped from SFr67 million over the same period last year to just SFr1.46 million so far this…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Foreign animal “militants” active in Switzerland

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Switzerland tends its image after damage is done

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Abu Dhabi’s eco city gets Swiss touch

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Consumer confidence drops to 16-year low

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Zurich Financial results beat expectations

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Animal rights extremists step up pressure

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Lake Geneva gas drilling plans presented

More

Swiss Re makes surprise Q2 net loss

More

Staff costs add to UBS problems

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Swiss arms exports drop

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