Archive – Banking & Fintech

Swiss Post delivers another proud profit

This content was published on Mar 24, 2006 The state-owned company, which is affectionately called the “yellow giant”, also reported that it was ready for the partial liberalisation of its letter delivery service from next month. “Swiss Post has again worked well during 2005,” said Swiss Post head Ulrich Gygi. “We made a profit for the eighth time in a row. “The SFr811-million…

Brazilian police raid Credit Suisse arm

This content was published on Mar 23, 2006 Investigators were trying to find out if the bank’s wealthy clients were sending money out of the country without declaring the transfers to the authorities. A Credit Suisse spokeswoman said the police had been on the bank’s premises on Tuesday, but admitted she did not know why the raid was carried out or what the…

Swiss dives deeper into the red

This content was published on Mar 23, 2006 The airline, which is now a subsidiary of Germany’s Lufthansa, said on Thursday that restructuring costs of SFr41 million and currency adjustments of SFr65 million were the two main factors weighing on its result. Swiss increased its total income from operating activities to SFr3.732 million and achieved a net result from operating activities before restructuring…

Swatch Group clocks up strong performance

This content was published on Mar 23, 2006 It said it had a “brilliant performance” in its core segment of watches and jewellery, with a growth surge of 50 per cent in the jewellery sector. Although the net profit figure was slightly below market expectations, the manufacturer of brands including Breguet, Omega, Longines, Tissot and Swatch said a promising start to the year…

Syngenta fined over GM tests in Brazil

This content was published on Mar 22, 2006 The Basel-based company strongly denies any wrongdoing and says it will appeal against the penalty imposed by the country’s environmental protection agency, Ibama. The fine relates to the company’s test site for genetically modified (GM) soya bean and corn in southern Brazil, which has been occupied by hundreds of peasant activists for over a week.…

Swiss adopt EU airline blacklist

This content was published on Mar 22, 2006 Switzerland has long pushed for a common EU blacklist and actively contributed to the list, published on the European Aviation Safety Agency website on Wednesday. The list includes both cargo and passenger carriers judged to have an “inadequate system for regulatory oversight” or insufficient safety standards. However none of the 92 airlines, most of which…

Cosmetic changes lift Swiss aid spending

This content was published on Mar 22, 2006 Spending rose from 0.41 per cent of Gross National Product in 2004 to 0.44 per cent last year. Also included in the accounting for the first time was the price of second-hand military goods donated on humanitarian grounds. In 2005, Switzerland spent SFr2.2 billion ($1.7 billion) on Official Development Assistance (ODA), according to the Swiss…

Water wells up in importance

This content was published on Mar 22, 2006 Wednesday also sees the end of the fourth World Water Forum in Mexico where countries, among them Switzerland, are expected to sign a declaration on local action in water policy. Swiss tap water is up to 1,000 times more environmentally friendly and cheaper than mineral water, according to a study commissioned by the Swiss Gas…

Carbon tax fuels heated debate in parliament

This content was published on Mar 22, 2006 But opponents in the House of Representatives want to the government to introduce a voluntary levy on fuel instead of a mandatory CO2 tax. Switzerland has pledged to reduce emissions of six greenhouse gases by 2012 to below 1990 levels, as required of signatories to the Kyoto protocol, an amendment to the United Nations Convention…

Parliament ends “last mile” monopoly

This content was published on Mar 21, 2006 After a three-year debate, the chambers agreed to a compromise plan opening up to competition the four-year right to connect households to exchanges using copper-cable infrastructure. Ending Swisscom’s last mile monopoly in itself was not controversial, but the House of Representatives and Senate were divided over just how far down the road of liberalisation Switzerland…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Swiss Post delivers another proud profit

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Brazilian police raid Credit Suisse arm

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Swiss dives deeper into the red

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Swatch Group clocks up strong performance

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Syngenta fined over GM tests in Brazil

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Swiss adopt EU airline blacklist

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Cosmetic changes lift Swiss aid spending

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Water wells up in importance

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Carbon tax fuels heated debate in parliament

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Parliament ends “last mile” monopoly

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