Archive – Banking & Fintech

iPhone launch proves a success

This content was published on Jul 11, 2008 Around 600 people lined up for hours at a Swisscom shop in Zurich which opened its doors at one minute past 12 o’clock on Friday to become the first to sell the iPhone 3G in Switzerland. There were complaints from consumers on Friday morning that some of the Swisscom and Orange shops were already sold…

Zurich becomes leading player in Spanish market

This content was published on Jul 11, 2008 The company said on Friday it was buying 50 per cent stakes in the businesses for a price of up to €900 million (SFr1.46 billion). The move comes just a day after Zurich pulled out of the auction for Royal Bank of Scotland’s insurance business, in which it had been considered the frontrunner. Zurich is…

Less funding for development aid projects

This content was published on Jul 10, 2008 The Swiss Agency for Development and Cooperation (SDC) said on Thursday that the money went to support the United Nations Millennium Development Goals and to increase the number of people with access to safe drinking water. The 2007 funding represented 0.37 per cent of gross national income (GNI). The figures come from the 2007 report…

Industrial sector still has plenty of steam

This content was published on Jul 10, 2008 It also finds that although growth momentum is slowly easing, all indicators for the second quarter and expectations for the third are “positive”. The survey, conducted in May and June among more than 400 companies, showed that industrial activity remains strong, indicated by high capacity utilisation, rises in order intake and sales figures, as well…

Farming in Switzerland becomes less attractive

This content was published on Jul 10, 2008 The Federal Statistics Office said on Thursday that mostly small farm holdings were affected. Since 2000, Switzerland has seen a 12 per cent decrease in the total number of farms. However, the size of the average Swiss farm has increased over the same period. More than one in five holdings has 25 hectares or more…

Novartis aims to acquire all of Speedel

This content was published on Jul 10, 2008 Novartis announced on Thursday that in a first step it had raised its stake in Speedel, which has a number of projects targeting heart disease, by 51.7 per cent to 61.4 per cent. In a statement, Novartis said it had bought the shares from major Speedel shareholders – including 21.5 per cent from Speedel chief…

Talk on the go is cheap – just not for the Swiss

This content was published on Jul 9, 2008 In 2007, Switzerland’s five mobile phone operators added 69,000 new users to their rolls, meaning there are now more mobile connections than people in Switzerland. The Federal Communications Office, Switzerland’s broadcasting and telecommunications regulator, presented the information as part of its annual report released on Wednesday. On average, customers spent SF60 ($58) per month on…

Swiss companies among the biggest

This content was published on Jul 9, 2008 Based on their revenue last year, bank UBS is 31st, food multinational Nestlé is 57th, while another financial institution, Credit Suisse, is 74th. The world’s biggest company is the American distributor Wal-Mart, ahead of the petrol firm Exxon-Mobil. However the number of US companies in the Fortune 500 is at its lowest level (153) for…

Unions enraged by central bank wage comments

This content was published on Jul 9, 2008 Switzerland’s trade union umbrella group Travail Suisse accused the bank of siding with employers after Thomas Jordan told a Sunday newspaper that restraint was needed in the next round of wage negotiations. Jordan acknowledged that rapidly rising oil prices were eating into the real income of households. But he said that making up for the…

More cities join energy programme

This content was published on Jul 9, 2008 That number represents more than 3.5 million people as well as businesses, said Energy Switzerland on Wednesday. The label is part of a plan set up 20 years ago and obliges participants to save energy, use renewable energy and reduce their greenhouse gas emissions. Zurich, Basel, Bern, Lausanne and St. Gallen were previously on the…

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