Archive – Banking & Fintech

Sales boost puts Ciba back in the black

This content was published on Feb 8, 2008 The company reported a net income of SFr237 million ($214 million), according to its annual financial statement, released on Friday. It also said that total sales had increased by three per cent to SFr6.52 billion for the year. The turnaround comes after Ciba introduced a cost-cutting strategy in 2006 aimed at saving SFr400-500 million by…

Inflation reaches 14-year high

This content was published on Feb 8, 2008 This was the first time that it had passed above the Swiss National Bank’s (SNB) two-per-cent price stability threshold since the middle of 1995. An increase had been widely expected but the final figure released by the Federal Statistics Office was higher than anticipated by analysts. The inflation figure means that the SNB is unlikely…

Swiss takes over charter airline

This content was published on Feb 8, 2008 The deal is part of new strategic partnership that should allow the two companies to offer a wider choice to customers while concentrating on their core businesses. Swiss, which is part of Germany’s Lufthansa group, will continue to operate Edelweiss as a separate entity with its own management, staff and aircraft. The charter airline owns…

Foreign gold rush puts Swiss at crossroads

This content was published on Feb 7, 2008 This may change the face of private banking in Switzerland as institutions pull in different directions, says a new study. It predicts a possible loss of cohesion in the sector and increased takeover activity. A recent global economic boom and the emergence of powerful new economies, such as China and India, have spawned billionaires across…

Syngenta profits grow on high crop demand

This content was published on Feb 7, 2008 The Basel-based company said that the result – on revenues of $9.24 billion – was based on global economic trends and on a scarcity of natural resources. These factors had driven demand for its crop protection products and genetically modified seeds, it added. “Following several years in which demand has exceeded agricultural production, stock of…

Majority of Swiss surf the internet

This content was published on Feb 6, 2008 The Geneva-based agency ranked Switzerland sixth in the world in 2006 for high-speed access, behind countries including Bermuda, Denmark and South Korea. It said 58.3 per cent of Swiss use the internet, dropping the country to 19th, but added that it expected that number to rise. The worldwide rate of penetration is expected to grow…

Workers get older

This content was published on Feb 6, 2008 The Federal Statistics Office expects this trend to continue, with one in three workers belonging to the over-50s category by the middle of the century. The services sector is where the increase was most significant, increasing from 21 to 26 per cent for the 50-64 group. In the public administration more than a third of…

Pirates sink Kudelski stock

This content was published on Feb 6, 2008 Trading of stock in the Lausanne-based firm, which supplies set-top boxes and smart cards to broadcasters, was repeatedly halted on Wednesday after German pay-TV provider Premiere said its signals had been pirated. The incident is not the first time Kudelski’s encryption technology for Premiere has been breached. In 2005 pirated smart cards were being sold…

Indian regulators scuttle UBS expansion plans

This content was published on Feb 6, 2008 Indian authorities had earlier appeared ready to allow Switzerland’s largest bank to move into the lucrative private banking market. UBS had submitted the application in 2004 to provide traditional banking services including accepting deposits and offering interest. It already has brokerage and investment banking units in the country. But on Wednesday a source within the…

“Top of Europe” aims high with quick lift

This content was published on Feb 6, 2008 The Jungfrau Railways has announced it is looking into installing a fast lift to add to the attraction of the cogwheel railway that has been transporting people to the “Top of Europe” for nearly a century. However, the futuristic lift or cable railway, which would shorten the journey time up to the Jungfraujoch station at…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Sales boost puts Ciba back in the black

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Inflation reaches 14-year high

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Swiss takes over charter airline

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Foreign gold rush puts Swiss at crossroads

More

Syngenta profits grow on high crop demand

More

Majority of Swiss surf the internet

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Workers get older

More

Pirates sink Kudelski stock

More

Indian regulators scuttle UBS expansion plans

More

“Top of Europe” aims high with quick lift

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