Archive – Banking & Fintech

Switzerland digs itself out after storm

This content was published on Mar 5, 2006 High winds followed by record snowfall closed roads, rail lines and airports, and cut off alpine villages. At least three people died. As much as 60 centimetres of fresh snow fell within a 24-hour period in many parts of northern Switzerland, breaking all previous records. The snow shut down public transport services in Basel and…

Eastern Europe visit bears fruit

This content was published on Mar 4, 2006 Deiss wrapped up his eastern European swing in the Lithuanian capital, Vilnius, where he and his Lithuanian counterpart expressed an interest in increasing trade. Deiss said he had raised the issue of a possible free-trade accord with the European Union on agriculture, a subject he also broached earlier in the week with the Polish government.…

Businesses prepare to dig into their pockets

This content was published on Mar 3, 2006 A survey carried out by Zurich’s Institute for Business Cycle Research (KOF) late last year shows more firms are preparing to spend in the coming months than in 2005. “Investment activities are important for the economy because they account for a large part of the variations of the country’s gross domestic product,” said KOF’s Daniel…

Adecco net profits beat expectations

This content was published on Mar 3, 2006 On Friday the world’s largest recruitment firm also announced it was in takeover talks with Russia’s leading staffing company. Gross profit rose to nearly 17 per cent, up 20 basis points (0.2 per cent) from a year ago, a company statement said. Adecco added it expected to boost its operating margin, which came in at…

Ecologists warn forests are being flushed away

This content was published on Mar 2, 2006 The conservation organisation said distributors and consumers have to change their attitudes, which threaten forests worldwide. According to the WWF, only a small proportion of all tissues and toilet paper used in Switzerland is made from recycled products. A study released by the organisation on Thursday says this reflects the limited choice in Swiss stores…

Demand for “ecocars” soars in Switzerland

This content was published on Mar 2, 2006 Growing interest in so-called “ecocars” comes amid increasing concern over pollution, future energy sources and rising fuel prices. Hybrid, electric, fuel cell, natural gas and ethanol vehicles will once again be firmly in the spotlight at the 76th Geneva International Motor Show, which opened on Thursday. They will be presented at around 20 stands, including…

Shareholders approve creation of Implenia

This content was published on Mar 2, 2006 The two companies said that voting at meetings of Batigroup in Basel and Zschokke in Geneva on Thursday had overwhelmingly given support to the deal. Implenia has annual combined turnover of SFr2.7 billion ($2.1 billion) and a staff of 6,500. Switzerland’s competition commission approved the merger last month, saying it had found no evidence that…

Motor show looks to the past and future

This content was published on Mar 2, 2006 But this year’s event is not just about cars of the 21st century. A special exhibition marking the centenary of Switzerland’s “Revue Automobile” magazine pays homage to the history of motoring. “This year we have a lot of world and European premieres, and a lot of concept cars and prototypes,” René Lambelet, head of communications…

Figures confirm Swiss economic upswing

This content was published on Mar 2, 2006 The State Secretariat for Economic Affairs (Seco) said on Thursday that preliminary figures showed the economy grew by 1.9 per cent as a whole during the year. “The… trend upwards of the Swiss economy is proving to be increasingly anchored,” Seco said in a statement. It added that the upswing, which started in 2004, had…

Natural catastrophes hit profit at Swiss Re

This content was published on Mar 2, 2006 Swiss Re reported that its income fell by 41 per cent to SFr1.451 billion ($1.11 billion) because of the burden on its non-life reinsurance units. But in a statement, Swiss Re said that in a year characterised by record natural catastrophes, the underlying business had performed well. “2005 has been a year of contrasts. Swiss…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Switzerland digs itself out after storm

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Eastern Europe visit bears fruit

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Businesses prepare to dig into their pockets

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Adecco net profits beat expectations

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Ecologists warn forests are being flushed away

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Demand for “ecocars” soars in Switzerland

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Shareholders approve creation of Implenia

More

Motor show looks to the past and future

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Figures confirm Swiss economic upswing

More

Natural catastrophes hit profit at Swiss Re

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