Archive – Banking & Fintech

Mont Blanc avalanche claims eight victims

This content was published on Aug 25, 2008 The bodies of the eight – three Swiss, four Germans and an Austrian – have been located following the huge avalanche on western Europe’s highest peak. Seven other people were hospitalized with injuries. A helicopter picked up the signal of special homing devices the climbers were wearing. Police officials said it appeared the climbers had…

Mid-flight bomb scare forces emergency landing

This content was published on Aug 23, 2008 The Zurich to Malaga flight was overflying France when the pilot was informed a threat had been made via the Swiss offices. The Airbus A321 turned around and landed safely at Geneva airport. A spokesman for the airport said no one was injured during the landing. The 142 passengers and six crew left the airplane…

Swiss firms reject recession fears

This content was published on Aug 22, 2008 The survey, conducted by the KOF Swiss Economic Institute, showed Switzerland faring better than global rivals thanks to a strong domestic economy and traditional strengths in finance and commodities trading. The banking sector is particularly upbeat about prospects in the second half of the year after suffering from the United States subprime mortgage crisis in…

Credit Suisse gets new Swiss Meister

This content was published on Aug 22, 2008 Hans-Ulrich Meister will join the group on September 1 and will be a member of the bank’s executive board, Credit Suisse said. He replaces Ulrich Kömer, who had been with the bank since 1998. Until last year, Meister was head of business banking for Credit Suisse’s worse-off competitor, UBS. Meister will be a member of…

Future looks bright for Swiss regions

This content was published on Aug 21, 2008 Six of seven regions in Switzerland ranked among the top ten in Europe in the study of 285 locations, published on Thursday by the Berlin Institute for Population and Development. The top ten have relatively stable demographics, good levels of education and impressive employment levels. Switzerland features alongside parts of the Netherlands, Norway, Sweden, Finland,…

Business flight boom drives Jet Aviation sale

This content was published on Aug 20, 2008 General Dynamics will buy the Zurich-based firm for SFr2.45 billion ($2.23 billion) by the end of the year. The sale of business planes has trebled in the past ten years, boosting Jet Aviation’s fortunes. Jet Aviation specialises in servicing and maintaining business aircraft and provides private charter flights and a range of temporary staff for…

Profit takes off for Zurich airport operator

This content was published on Aug 20, 2008 Unique said on Wednesday that continued strong traffic growth and associated commercial turnover had led to the result. The airport handled a total of 10,606,574 passengers during the first half of the year, an increase of 9.3 per cent compared with the same period in 2007. Turnover at the airport – Switzerland’s largest – rose…

Raw materials costs corrode chemical industry

This content was published on Aug 19, 2008 But while global competitors have experienced the same difficulties, the Basel-based duo have also been stung by the strong Swiss franc and strategic problems, according to analysts. Both companies operate in a competitive market producing chemicals, such as dyes and pigments, for the car, plastics, paper, construction and textile industries. Ciba shares plummeted on Tuesday…

Central bank says credit conditions are steady

This content was published on Aug 19, 2008 Jean-Pierre Roth told the Financial Times newspaper that Swiss cantonal banks and regional banks were “doing fine” despite the current financial market crisis. Switzerland’s largest bank, UBS, has had to write down more than $40 billion (SF43.9 billion) in risky credits in the United States over the past year. But Roth stressed that the Swiss…

Cement firm sells subsidiary to Venezuela

This content was published on Aug 19, 2008 Holcim, the world’s second largest cement company, said on Tuesday it would retain a 15 per cent minority stake after the $552 million (SFr607 million) deal. Holcim Venezuela reported net sales of around $200 million in 2007, accounting for one per cent of the group’s turnover. The socialist government also reached a deal to buy…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Mont Blanc avalanche claims eight victims

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Mid-flight bomb scare forces emergency landing

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Swiss firms reject recession fears

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Credit Suisse gets new Swiss Meister

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Future looks bright for Swiss regions

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Business flight boom drives Jet Aviation sale

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Profit takes off for Zurich airport operator

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Raw materials costs corrode chemical industry

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Central bank says credit conditions are steady

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Cement firm sells subsidiary to Venezuela

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