Archive – Banking & Fintech

Swiss act over Chinese toy issue

This content was published on Aug 31, 2007 Officials have also sent out a letter to importers and manufacturers reminding them that they are responsible for guaranteeing the safety of Chinese-made products. But Swiss experts in Chinese business have warned against solely blaming China for the problems with toys. Pressure for low prices and lack of quality control by western companies also play…

Taxing time for Swiss diplomats

This content was published on Aug 29, 2007 Foreign Minister Micheline Calmy-Rey told the 150 ambassadors, consuls general and development agency heads that she understood their concerns. Each year, the diplomats return to Switzerland to attend the three-day meeting. It’s an opportunity for the foreign minister to outline government policy. The official focus of this year’s conference was on efforts to increase coordination…

Biofuel offers Brazilian farmers fair trade

This content was published on Aug 29, 2007 Petrol pump operator Migrol – part of Migros – will buy green fuel from gebana at prices that allow farmers in Brazil to earn a living. The project has been praised for producing biofuels which do not harm the environment. Swiss non-governmental organisation Alliance Sud gave its backing to the project because it avoids deforestation,…

Acquisition helps Oerlikon boost profit

This content was published on Aug 28, 2007 The result fell short of analysts’ forecasts but the group said it was on course to beat its 2007 sales target. Operating profit (Ebit) was up 83 per cent, at SFr231 million. “Overall we are confident that the sales targets for the full year of more than SFr5 billion will be exceeded by as much…

Swissmem shows support for business lobby group

This content was published on Aug 27, 2007 The sector’s umbrella body, Swissmem, denied the rift was ever about Switzerland’s parallel import ban. It said it was happy with cost-cutting and improved transparency at the federation. Swissmem was among several economiesuisse members that threatened to leave early last year but softened its stance last November in return for a greater say within the…

ABB sells Lummus and finds “suspect payments”

This content was published on Aug 27, 2007 ABB said on Monday it was selling the business to the Chicago Bridge and Iron Company (CB&I), which is based in the Netherlands, for an enterprise value of $950 million (SFr1.143 billion). Also on Monday, ABB said it had found “certain suspect payments in a number of countries” in connection with the divestment of Lummus…

Experts pour cold water on climate policy

This content was published on Aug 24, 2007 The Advisory Body on Climate Change (OcCC) said the government needed to promote green measures and give them a legal basis. Long-term planning was also needed, it said. The proposals, made by Environment Minister Moritz Leuenberger last week, called for a tax on fossil fuels, heating oil and greenhouse gases to be introduced in Switzerland…

First-half figures firm at cement maker

This content was published on Aug 23, 2007 The Swiss company said on Thursday that net profit rose to SFr2.4 billion ($1.99 billion), beating analysts expectations. It also announced that it would bid for another 20 per cent in India’s Ambuja Cements. “Factors which contributed to [the results] were the favorable market environment, the successful integration of acquisitions and a further improvement in…

Experts say market turmoil won’t slow economy

This content was published on Aug 22, 2007 The conclusion of a survey of Swiss companies published on Wednesday by the institute was that the economy was likely to keep on growing strongly in the second half of the year. “The economy is so robust it should weather the effects,” said KOF head Jan-Egbert Sturm at a media conference in Zurich. “I would…

Clouds loom despite Swiss-US trade boom

This content was published on Aug 22, 2007 Too little investment by Swiss companies in the US and stifling controls at US borders were threatening commerce, said the chamber. A free trade agreement between the two countries remains on ice. According to figures released by the chamber, exports of Swiss goods to the US rose in 2006 by 13 per cent to SFr18…

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Archive – Banking & Fintech

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Swiss act over Chinese toy issue

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Taxing time for Swiss diplomats

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Biofuel offers Brazilian farmers fair trade

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Acquisition helps Oerlikon boost profit

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Swissmem shows support for business lobby group

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ABB sells Lummus and finds “suspect payments”

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Experts pour cold water on climate policy

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First-half figures firm at cement maker

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Experts say market turmoil won’t slow economy

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Clouds loom despite Swiss-US trade boom

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