Archive – Banking & Fintech

Disaster insurance coverage expected to rise

This content was published on Aug 22, 2006 But the fourfold increase of the maximum payout would lead to higher premiums. The move was prompted by devastating floods that hit several Swiss cantons last August and led to private insurance claims totalling SFr1.3 billion. “Last year’s events proved the payout limit was too low,” said Beat Krieger on Tuesday. The spokesman for the…

Road accidents pursue a downward trend

This content was published on Aug 22, 2006 The Swiss Council for Accident Prevention said on Tuesday that the number killed due to drivers under the influence of alcohol and to speeding, the two main causes of road accidents, had fallen by 38 and 35 per cent respectively. According to the survey, which was carried out among cantonal police authorities, the number of…

Kuoni posts sizeable jump in profit

This content was published on Aug 22, 2006 The group’s positive half-year results follow news of the resignation on Monday of Andreas Schmid from his position as group chairman. Kuoni managed to turn around a net loss of SFr7.2 million in the first half of last year to present a profit of SFr8.1million in the first six months of 2006. The group generated…

Mad cow research to continue

This content was published on Aug 19, 2006 Adriano Aguzzi, director of the Institute of Neuropathology at Zurich University, says research will now focus on preventing human-to-human transmission of BSE (bovine spongiform encephalitis). Aguzzi headed research five years ago which discovered how prions – the infectious agents believed to cause BSE and its human equivalent, new variant Creutzfeldt-Jakob disease – reach the brain.…

Farm hopping

This content was published on Aug 19, 2006

Swissfirst stock falls on news of possible sale

This content was published on Aug 18, 2006 The management move comes after heavy criticism by a shareholder and the media of last year’s merger with rival bank Bellevue. The bank’s shares fell more than 18 per cent at one point on Friday but ended the day 11.91 per cent down from Thursday’s close at SFr82.80 ($67.11). Swissfirst’s merger with Bellevue is being…

Turkish dam controversy tests government

This content was published on Aug 18, 2006 Export Credit Agency (ECA) officials will assess environmental and humanitarian objections to a proposed SFr310 million ($250 million) fund to allow Swiss firms to take part in building the Ilisu dam. The State Secretariat for Economic Affairs (Seco) will decide in September if the state-backed insurance agency can guarantee the export risks of Alstom Switzerland,…

Farmers continue to feel the squeeze

This content was published on Aug 17, 2006 The Federal Statistics Office says one-third of all Swiss farms have disappeared over the past 15 years. The results confirm the tendency in Switzerland towards larger holdings and organic farming. According to the survey of the farming sector published on Thursday, between 2003 and 2005 more than 2,200 farms ceased to exist – a 3.4…

Ciba slashes 2,500 jobs

This content was published on Aug 17, 2006 The unveiling of the job losses – the group’s fourth cost-cutting exercise in five years – comes as the Swiss chemicals giant reported a first-half drop in net profit to SFr95 million ($77.32 million). Most of the job cuts are expected to occur through natural attrition, although there will be a number of redundancies, the…

Mad cow disease no longer a priority

This content was published on Aug 16, 2006 The unit, which was created in 2001 to deal exclusively with mad cow disease, will in future concentrate on animal health and protection, humane production, food safety and hygiene. The bovine spongiform encephalopathy (BSE) unit’s budget will also be reduced by over a third, from SFr3.5 million ($2.8 million) to SFr2 million. So far this…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Disaster insurance coverage expected to rise

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Road accidents pursue a downward trend

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Kuoni posts sizeable jump in profit

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Mad cow research to continue

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Farm hopping

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Swissfirst stock falls on news of possible sale

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Turkish dam controversy tests government

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Farmers continue to feel the squeeze

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Ciba slashes 2,500 jobs

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Mad cow disease no longer a priority

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