Archive – Banking & Fintech

WTC insurers in $2 billion settlement

This content was published on May 24, 2007 The payment resolves all outstanding claims from the September 11, 2001 attacks and speeds redevelopment of the site, New York State officials announced on Wednesday. Details of the settlement were not disclosed, but Zurich, which said it had already reserved funds for the payouts, said its additional payment was $19.34 million, beyond the $76 million…

“Polite” Swiss come third in tourist study

This content was published on May 23, 2007 Swiss tourists were commended for being quiet and considerate – unlike Britons, who came fifth from bottom in the poll because of rude behaviour, noise and a miserly attitude to tipping. Japanese tourists stood out for being polite and tidy, securing 65 per cent of the votes, 35 per cent more than those from the…

Geneva capitalises on business aviation boom

This content was published on May 23, 2007 The Swiss market is also flying high thanks to the presence of a rising number of millionaires and the growth of business travel. The annual European Business Aviation Convention & Exhibition (EBACE), which runs until Thursday, is the second biggest of its kind outside the United States. After a sharp rise in its fortunes two…

Cooking up business success in Tanzania

This content was published on May 23, 2007 She is one of more than 3,000 beneficiaries of a leasing project, championed by the World Bank and co-funded by Switzerland, helping women to set up or expand their small businesses in the eastern African country. “What I have achieved would not be possible without SeroLease,” says 48-year-old Mushemakweli. The financial agency, founded by a…

Swissair Halifax crash recording released

This content was published on May 23, 2007 The tapes of the Swissair flight 111 accident – the worst in Canadian and Swiss aviation history – had been kept sealed since the crash. The recording was released to the Canadian Press news agency following a court battle that went all the way to the Supreme Court of Canada. It was made public on…

Leuenberger wants global tax on “information”

This content was published on May 21, 2007 Leuenberger said the levy would serve to finance new information and communication technologies in regions where people have little or no access to the internet. Non-governmental organisations have welcomed the move, which they say caught them by surprise, describing it as a “necessary step in the right direction”. The Swiss communications minister unveiled his proposal…

2,000 ships mark post-war aid for children

This content was published on May 21, 2007 More than 2,000 vessels formed an 11-kilometre-long “floating bridge” across the lake from the Swiss town of Romanshorn to the German resort of Friedrichshafen on Sunday. During the aftermath of the war thousands of malnourished and traumatised children from Germany were invited to Switzerland – which as a non-participant in the Second World War had…

Government welcomes Wolfowitz resignation

This content was published on May 18, 2007 While recognising Wolfowitz’s personal engagement in implementing an action plan for Africa and in the area of global warming, the ministry said his resignation would help resolve the conflict within the World Bank. Spokeswoman Evelyn Kobelt said the work of the global lending body had been increasingly hampered in recent weeks by disagreement among Bank…

Scientists plan new GM crop trials

This content was published on May 16, 2007 Two teams of university researchers have applied to carry out tests near Zurich and Lausanne, including observations of potential crossbreeding between wheat and wild grass. The proposed field trials by Zurich University’s Institute of Plant Biology and the Institute of Plant Sciences at the city’s Federal Institute of Technology would form part of a planned…

Swisscom’s Italian bid is a success

This content was published on May 15, 2007 The former state monopoly will own 82.1 per cent of the Italian company at a cost of €3.1 billion (SFr5.12 billion), and take on another €1.1 billion in debt. The Milan stock exchange announced the result on Tuesday, the last day of Swisscom’s bid. On Monday, the Swiss operator still controlled less than half of…

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