Archive – Banking & Fintech

Insurer earns big despite storm costs

This content was published on Mar 21, 2006 The group said last year’s floods in Switzerland, Austria and Germany had a SFr68 million impact on its pre-tax result, which was significantly lower than its original estimate of SFr100 million. Baloise said on Tuesday all of its insurance and banking sectors contributed to the strong performance. It said it would ask shareholders at its…

Swiss want tougher controls on biopiracy

This content was published on Mar 21, 2006 Rich country firms have long been accused of appropriating indigenous species and local knowledge in poorer countries without adequately compensating the peoples and nations concerned. The head of the Swiss delegation to the meeting, Thomas Kolly, told swissinfo that his team would be supporting efforts to strengthen international rules on so-called “benefit sharing”. The aim…

Think tank moots scrapping customs fees

This content was published on Mar 20, 2006 But the federal customs authorities have rejected the latest Avenir Suisse report as biased. The study says customs barriers cost the Swiss economy about SFr3.8 billion ($2.9 billion) every year. The fees push prices of exports up by 1.9 per cent, while imports cost 2.3 per cent more. In total Switzerland’s gross domestic product suffers…

Mountain farms face renewed threat

This content was published on Mar 20, 2006 The number of agricultural employees will also dramatically drop as the farming sector undergoes far-reaching reforms. The study, carried out by the Agroscope agricultural research centre in Tänikon and the Zurich-based consulting group INFRAS, looked at several future scenarios for alpine farming, including the impact of national and international farming policy. Swiss farming has been…

Reform of invalidity benefits under scrutiny

This content was published on Mar 20, 2006 The political right is calling for a stop to what it describes as system abuses, while the centre-left wants to put the onus on re-integrating benefit claimants into the job market. The difficulties began back in the early 1990s, when the invalidity benefit scheme plunged into the red and hasn’t managed to emerge since. Latest…

Hobby hotelier re-opens royal establishment

This content was published on Mar 20, 2006 He has just re-opened Basel’s Les Trois Rois (Three Kings), one of Switzerland’s first grand hotels. He bought it two years ago and has spent tens of millions of francs on its renovation. There is a lot you can do to preserve cultural heritage when money is no object. In the case of Les Trois…

Bond bikini babe turns 70

This content was published on Mar 20, 2006 But the celebrations will have to wait until May: that’s when the Swiss government is throwing “Ursi National” a party on a swanky yacht moored near the Scottish capital, Edinburgh. Dieter Borer from co-organiser Presence Switzerland, the public agency charged with promoting Switzerland’s image abroad, called the actress a national institution. “We are celebrating the…

Zurich Financial agrees US insurance deal

This content was published on Mar 20, 2006 The deal with Zurich American Insurance Company (ZAIC) and its subsidiaries is to settle allegations of commercial insurance price-fixing and bid-rigging. Zurich Financial Services, Switzerland’s largest insurer, said on Monday that the deal was made between nine state attorneys general and one insurance commissioner. It said the settlement requires the implementation of new compliant regimes,…

Liquidator aims for SAirGroup directors

This content was published on Mar 18, 2006 He accuses them of having injected cash into the Belgian airline Sabena in February 2001, causing damage to the SAirGroup of €150 million (SFr235.9 million). The action over liability has been handed in to the Zurich district court, Wüthrich indicated in a circular to creditors, adding that the move was being taken after the failure…

Syngenta denies illegal GMO tests in Brazil

This content was published on Mar 17, 2006 The test site in the south of the country has been invaded by hundreds of peasant activists who claim the company has illegally planted transgenic seeds close to a nature reserve. The Basel-based company told swissinfo on Friday that around 300 peasant activists were still occupying the farm in Parana state but had been given…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Insurer earns big despite storm costs

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Swiss want tougher controls on biopiracy

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Think tank moots scrapping customs fees

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Mountain farms face renewed threat

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Reform of invalidity benefits under scrutiny

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Hobby hotelier re-opens royal establishment

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Bond bikini babe turns 70

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Zurich Financial agrees US insurance deal

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Liquidator aims for SAirGroup directors

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Syngenta denies illegal GMO tests in Brazil

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