Archive – Banking & Fintech

Swiss economy shrinks as exports slump

This content was published on Jun 2, 2009 Negative growth was registered in particular in exports, according to the State Secretariat for Economic Affairs (Seco) on Tuesday. The year on year drop was 2.4 per cent, the sharpest contraction since 1976. “It’s a bad number – Switzerland is in a bad shape – but in other countries the effect is even worse,” Seco’s…

Oerlikon to sell space division

This content was published on Jun 2, 2009 Oerlikon shares jumped by 6.4 per cent to SFr66.50 ($62) on the news in early trading on the Swiss stock exchange on Tuesday. All 380 employees of Oerlikon Space based in Switzerland will transfer to Ruag after the deal is complete. The purchase price was undisclosed but analysts estimated the deal to be worth SFr150-200…

Swiss economy shrinks as exports slump

This content was published on Jun 2, 2009 Negative growth was registered in particular in exports, according to the State Secretariat for Economic Affairs (Seco) on Tuesday. The year on year drop was 2.4 per cent, the sharpest contraction since the first quarter of 1976. “The 2.4 per cent drop in GDP is not very upbeat, confirming the Swiss economy is still feeling…

Children “shouldn’t be seen as tiny adults”

This content was published on May 31, 2009 Its promoters say it is important to realise that children aren’t miniature adults and shouldn’t play that role in adverts, nor should they be confronted with problems such as discrimination. An advert on Swiss television showing a small boy washing his friends’ tricycles in the family dishwasher for a few francs earned white goods specialist…

Waning demand hits airline Swiss again

This content was published on May 31, 2009 Spokesman Jean-Claude Donzel on Sunday confirmed a newspaper report saying that flights would be reduced on 12 routes. Flight reductions announced in March to Los Angeles and the Indian city of Mumbai, until the beginning of July, for example, will be extended. In another measure, daily flights from Zurich to London will be reduced from…

Consumers receive good news

This content was published on May 29, 2009 The move is expected to reduce prices of some of the affected products, since they can be sold more cheaply than identical Swiss-made ones. Parallel imports are branded goods manufactured or purchased abroad at a reduced cost and then sold in Switzerland at a lower-than-usual price. Consumer groups argued for years that the trade restrictions…

Limits put on visitors to “Top of Europe”

This content was published on May 29, 2009 The Jungfrau Railways said the passenger limit, effective immediately, was aimed at “improving quality”. There have been no limits in the past. On sunny days, many passengers have been unable to find a seat for the 50-minute journey that takes them from around 2,000 metres above sea level to the Jungfraujoch at 3,454m. On a…

British official makes plea for free trade

This content was published on May 28, 2009 Susan Haird, who is deputy chief executive of the government organisation UK Trade and Investment, said in Bern on Thursday that it was important for trade and investment to continue during “these challenging economic times”. “Otherwise the recession will get worse rather than better,” she said. “I’m here to emphasise the importance of trade links…

Rail freight to get financial boost

This content was published on May 28, 2009 The Federal Transport Office said on Thursday that the aim is to ensure that transport of goods by rail remains competitive in the face of price dumping practised by some road freight operators. “The economic crisis has led to a sharp drop in the amount of goods being transported over the Alps,” the transport office…

Georg Fischer to slash 2,300 jobs

This content was published on May 28, 2009 The cuts amount to 16 per cent of the workforce. A quarter of job losses will affect positions in Switzerland, the Schaffhausen-based company announced on Thursday. The move comes after Georg Fischer reported a SFr46 million ($42.1 million) lost in operating revenue for the first months of 2009. Sales had slid 38 per cent against…

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Archive – Banking & Fintech

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Swiss economy shrinks as exports slump

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Oerlikon to sell space division

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Swiss economy shrinks as exports slump

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Children “shouldn’t be seen as tiny adults”

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Waning demand hits airline Swiss again

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Consumers receive good news

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Limits put on visitors to “Top of Europe”

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British official makes plea for free trade

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Rail freight to get financial boost

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Georg Fischer to slash 2,300 jobs

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