Archive – Banking & Fintech

Exports sweeten chocolate industry results

This content was published on Feb 7, 2007 But demand at home stagnated and imported products now amount to 30 per cent of all chocolate consumed in Switzerland, according to the Union of Swiss Chocolate Manufacturers. Sales increased by just over four per cent while sales by volume grew nearly five per cent, according to a statement by Chocosuisse on Wednesday. Exports rose…

Roche beats Novartis to post record results

This content was published on Feb 7, 2007 It is the best result in the history of the Basel-based company and beats that of its local rival, Novartis, the world’s fourth-largest pharmaceutical company. Roche net sales increased 17 per cent to SFr42 billion and were in line with analysts’ expectations. “In both the pharmaceutical divisions and the diagnostics division, Roche anticipates continued above-market…

Youngsters sink into debt trap

This content was published on Feb 6, 2007 The authors of the Swiss Debtor Index, credit management group Intrum Justitia, have called for money management classes in schools as unpaid bills in Switzerland soar to SFr9 billion ($7.23 billion). The index reveals that the 25-34 age group is three times more likely to get into debt than the average person. In comparison, 65-74…

Leuthard aims for improved trade with Brazil

This content was published on Feb 6, 2007 Leuthard, who is accompanied on her four-day trip by a delegation of Swiss business leaders, is expected to sign a memorandum of understanding on the creation of a joint economic commission. The economics ministry describes this as a first “solid step” towards the implementation of the Swiss government’s strategy for Brazil adopted in December. Part…

Pollution index to limit Zurich airport flights

This content was published on Feb 5, 2007 At the weekend the city’s mayor also wrote a controversial letter to the authorities in neighbouring Germany in an effort to seek a compromise in the dispute. A majority in parliament voted on Monday against a people’s initiative calling for a maximum of 250,000 flights a year but adopted measures that are likely to limit…

Swiss Re sells the “Gherkin”

This content was published on Feb 5, 2007 Swiss Re, which is the world’s largest reinsurer, said the buyer was an affiliate of German real estate company IVG Immobilien, based in Bonn. In a statement from its Zurich headquarters, Swiss Re said it would remain the main tenant of the 41-storey building, which was designed by star architect Norman Foster. The sale, which…

Read more: Swiss Re sells the “Gherkin”

Swiss boat claims first solar Atlantic crossing

This content was published on Feb 4, 2007 The boat’s owners said at the weekend that Sun21 had docked in Martinique, 63 days after leaving the Spanish port of Chipiona near Cadiz. It is claimed to be the first-ever motorized vessel to complete the journey without using any fuel. The 14-metre boat largely followed the historic route sailed by explorer Christopher Columbus on…

Weak Swiss franc holds hidden dangers

This content was published on Feb 3, 2007 Experts cannot explain why the euro climbed to nearly 1.62 against the franc this week and all eyes will be on the Swiss National Bank (SNB) to see if interest rates rise for a sixth consecutive quarter in March. Figures released on Thursday show a 12.9 per cent export growth last year. But the Swiss…

Single health insurance plan appears doomed

This content was published on Feb 2, 2007 A survey carried out less than two months before a nationwide vote on March 11 shows the initiative is clearly more popular in the Italian- and French-speaking regions than in the majority German-speaking part of the country. The poll, published on Friday, found that supporters of the proposal lag behind opponents by a margin of…

Foreign equity barons give Swiss jitters

This content was published on Feb 2, 2007 Two investment groups, backed by Russian and Austrian billions, appear poised to swallow a large segment of the Swiss manufacturing industry having already established a foothold in the sector. The Austrian enterprise Victory first made its first move two years ago buying up technology firm Unaxis and renaming it OC Oerlikon and then later Oerlikon.…

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Archive – Banking & Fintech

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Exports sweeten chocolate industry results

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Roche beats Novartis to post record results

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Youngsters sink into debt trap

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Leuthard aims for improved trade with Brazil

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Pollution index to limit Zurich airport flights

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Swiss Re sells the “Gherkin”

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Swiss boat claims first solar Atlantic crossing

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Weak Swiss franc holds hidden dangers

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Single health insurance plan appears doomed

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Foreign equity barons give Swiss jitters

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