Archive – Banking & Fintech

getting cargo through the alpine bottleneck

This content was published on Jul 11, 2006 Part of this strategy has been to combine rail and road transport, but the message is not getting through to hauliers, who are still putting more trucks on the road. Switzerland is the European champion when it comes to rail transport. In 2005, nearly two thirds of cargo in transit travelled by rail. In Austria,…

insurers bank on boom in gulf region

This content was published on Jul 11, 2006 However, all that glitters is not gold and many companies have to overcome numerous cultural obstacles. Even though the economy in the Gulf Region is booming, the region still has a few shortcomings, one of which is the insurance business. Compared with other flourishing economies around the world, the insurance market in the Gulf is…

switzerland, capital of wealth management

This content was published on Jul 11, 2006 Swiss banks currently manage more than one third of the world’s private wealth. Investment banks have adapted to new laws by opening branches abroad. The first Swiss private banks were established at the end of the 18th century. After initially concentrating on commercial transactions, they went on to specialise in wealth management, which developed from…

giving old coffee a modern flavour

This content was published on Jul 11, 2006 Even though Nespresso is entirely Swiss-made, the world’s largest food company has revolutionised the modern coffee market while going global at the same time. When Novartis sold “Ovaltine” in 2002, market experts expected Nestlé to bid for it. But it was the British food company ABF who finally took over the famous Swiss lifestyle brand.…

tiny country shoulders big burden

This content was published on Jul 11, 2006 This sector has become a necessity over the years, with the Swiss economy relying heavily on exports of finished products and machines. Reinsurance is what the name says: cover for insurance companies. This allows these firms to unfetter themselves from some of the risks (financial loss, weather, epidemics) inherent to the contracts signed with clients.…

swiss banks target muslim investors

This content was published on Jul 11, 2006 These adhere to principles found in the Koran and Islamic law (Sharia) referring to ethical loan-lending. Instead of interest, a participation fee dependent on risk is charged. Usurers – who would lend money at exorbitant interest rates – were already being put in the stocks in Old Testament times and medieval popes banned the charging…

security standards set european example

This content was published on Jul 11, 2006 More than 3,000 Swiss companies have their assets regularly monitored by professional risk auditors and inspectors. When it comes to insuring assets Switzerland is certainly at the forefront within Europe. Like banking or life insurance, insuring assets is one of Switzerland’s top-quality services. The Swiss Institute of Safety and Security may not be so well…

banking secrecy weathers storms

This content was published on Jul 11, 2006 Even though parliament has refused to enshrine it in the constitution, this typical Swiss arrangement benefits a large proportion of the Swiss population. One of the myths surrounding banking secrecy that still circulates today is that it was reinforced by the Swiss government to protect the money deposited in Switzerland by Jewish victims of the…

business booms but tricky times lie ahead

This content was published on Jul 11, 2006 After a series of difficulties and an industry restructuring in the 1970s, exports of Swiss watches are once again up. But the country’s position is today under threat. A Swiss-made watch is a highly desirable but increasingly copied object. An original Swiss watch draws upon over four centuries of tradition, quality, expertise and innovation. It…

Swiss Re to axe 2,000 jobs

This content was published on Jul 11, 2006 The world’s largest reinsurer said on Tuesday that it had already cut over 250 posts, about 40 of which were in Zurich. Over the next four months the company plans to finalise the two-phase restructuring of its worldwide operations. “The job reductions will contribute to increasing Swiss Re’s overall efficiency and ensuring the company’s competitiveness,”…

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