Archive – Banking & Fintech

Night flights answer to Euro 08 bed shortage

This content was published on Apr 12, 2008 The move came in response to a chronic beds shortage that threatened to leave fans walking the streets until airports opened. But canton Zurich has criticised the decision as it faces more uproar over noise pollution. Hotels, guest houses, private accommodation and even camp sites in host cities Zurich, Geneva, Bern and Basel are already…

Towns lift opposition to Yahoo data centre

This content was published on Apr 11, 2008 The commune on Friday granted building permits to Yahoo, which intends to buy 3.6 hectares of land worth SFr4.8 million ($4.5 million) to build the energy-intensive facility. The two nearby communities that in March had threatened to scupper the deal, Villarepos and Misery-Courtion, on Friday also withdrew their opposition to the plan. Villarepos and Misery-Courtion…

Credit map illustrates national debt

This content was published on Apr 11, 2008 Creditreform, which counts more than 165,000 member businesses, says that close to three per cent of the population is heavily indebted. The map shows an urban-rural divide, but Creditreform notes that even within cities, the rate of over-indebtedness varies. In Zurich, it ranges from 1.47 to 6.61 per cent. The region with the highest rate…

Luxury goods show celebrates record year

This content was published on Apr 10, 2008 Organisers said that almost 107,000 people attended the eight-day event, a five per cent increase over the previous year. Held in the northern city of Basel, the show attracted almost 2,100 exhibitors including the world’s best-known luxury brands. “The results are excellent,” said François Thiébaud, the representative of the show’s Swiss exhibitors. “2008 has proved…

Return of Taiwanese frigate assets delayed

This content was published on Apr 10, 2008 Federal investigating magistrate Paul Perraudin has decided the assets worth over $520 million (SFr518 million) will remain in Switzerland until Taiwan submits a court confiscation order, the justice ministry announced on Thursday. But the judge pointed out that there were “significant indications” the funds were criminal proceeds. Taiwan requested the handover in August 2006 as…

Bank regulator hopes worst is behind UBS

This content was published on Apr 10, 2008 Eugen Haltiner told the NZZ am Sonntag newspaper that the dimension of the recent losses at the bank was “extraordinary”. “But these can be absorbed with a timely recapitalisation. The bank will be well capitalised again and has written down to a degree that we can hope for stabilisation,” he said. UBS announced last week…

Last major independent brewer to be sold

This content was published on Apr 10, 2008 Heineken would pay SFr278.5 million ($275.5 million) and take on SFr11.5 million in debt. Eichhof’s board has recommended shareholders approve the deal, which puts a 45 per cent premium on the division’s estimated value. If the deal is completed in the third quarter as planned, the Dutch brewer will consolidate its number two position on…

Swiss consumers “should not fear inflation”

This content was published on Apr 9, 2008 Inflation rates soared to a 15-year high of 2.6 per cent in March, but were much lower than in the Euro-zone and the United States. BAK Basel Economics is the latest economic research group to predict a downward correction. BAK forecast on Wednesday that falling oil prices would kick in during the second half of…

Rock and Risk

This content was published on Apr 9, 2008 Rock and Risk told the story of the many adventurers who have tackled the mountain, particularly its infamous north face.

Biotech firms boost sales but suffer losses

This content was published on Apr 8, 2008 The branch’s umbrella organisation, Swiss Biotech, said turnover for biotechnology firms rose by ten per cent to SFr7.11 billion ($7 billion). However, they made an overall loss of SFr143 million after pumping SFr1.7 billion into research and development. Losses the previous year totalled only SFr3 million, Swiss Biotech noted in its annual report published on…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Night flights answer to Euro 08 bed shortage

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Towns lift opposition to Yahoo data centre

More

Credit map illustrates national debt

More

Luxury goods show celebrates record year

More

Return of Taiwanese frigate assets delayed

More

Bank regulator hopes worst is behind UBS

More

Last major independent brewer to be sold

More

Swiss consumers “should not fear inflation”

More

Rock and Risk

More

Biotech firms boost sales but suffer losses

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