Archive – Banking & Fintech

Flight tax up against Swiss scepticism

This content was published on Mar 1, 2006 Remo Gautschi of the Swiss Agency for Development and Cooperation represented Switzerland as an observer at a two-day meeting in Paris on development financing. The meeting ended on Wednesday. As of July 1, France will levy what it calls a solidarity tax on passengers flying out of French airports. The proceeds of the tax will…

Deiss seeks to drum up trade with new Europe

This content was published on Mar 1, 2006 One topic of discussion is certain to be Switzerland’s contribution to the Cohesion Fund for the ten new European Union states. Swiss Foreign Minister Micheline Calmy-Rey signed a memorandum in Brussels on Monday, pledging SFr1 billion ($760 million) to the fund over five years. Poland and Lithuania are among the ten newest members of the…

Engineering industry picks up steam

This content was published on Mar 1, 2006 Swissmem, which is the umbrella organisation of the mechanical and electrical engineering industries, said that exports last year totalled SFr61.3 billion ($46.89 billion) or 3.9 per cent up on the previous year’s figures. It described the rise in sales of three per cent and in new orders received of 4.5 per cent as “healthy”. Swissmem’s…

New measures give clear sign to drivers

This content was published on Mar 1, 2006 From Wednesday police can issue on-the-spot fines of SFr140 ($106) if a driver does not give a pedestrian right of way at a zebra crossing. “I’m very glad we’ve come so far because this is a proposal that I made in the House of Representatives some five years ago,” said former parliamentarian Roland Wiederkehr, president…

Holcim produces bumper figures for 2005

This content was published on Mar 1, 2006 The record result beat market expectations, and the world’s second-largest cement maker said on Wednesday that it was optimistic about construction activity this year. In a statement from its Zurich headquarters, Holcim said that group sales last year had risen by 39.8 per cent to SFr18.468 billion, driven by growth in all sales regions. Acquisitions…

Asbestos ruling clears the air for ABB

This content was published on Feb 28, 2006 The decision gives the green light for ABB’s revised restructuring plan of its US Combustion Engineering subsidiary. And it means that ABB, which is based in Zurich, can now concentrate on developing its core business of power and automation technologies. Claimants still have 30 days to lodge objections to the decision, but the vast majority…

Swiss businesses against EU membership

This content was published on Feb 28, 2006 It stressed its support for strengthening bilateral relations, while adding that signing up to the 25-member club would complicate the forging of national economic and social policy. A barrage of complications in the economic and political arenas would negate any efficiency gains to be had through membership, the federation said at a news conference on…

Cost cutting at Clariant boosts bottom line

This content was published on Feb 28, 2006 The improvement in the bottom line was attributed to savings from a restructuring programme, even though sales were down slightly at SFr8.181 billion. The company, which makes pigments for paints and textiles, as well as chemicals, warned last November that its full-year result might fail to impress because of higher costs for raw materials, energy…

Swiss Re meeting backs financing of GE deal

This content was published on Feb 27, 2006 At an extraordinary meeting in Zurich, they endorsed company plans to raise $7.5 billion (SFr9.9 billion) to finance the transaction, which was announced last November. After the deal is closed, which is expected by the middle of the year, Swiss Re – currently the world’s second-largest reinsurance company – will have the biggest reinsurance volume…

Schindler’s lifts reach new level

This content was published on Feb 27, 2006 Schindler, the world number two in the industry, said the result was down to a very high level of orders, which had been caused by increased productivity. The Schindler Group announced on Monday that the record net profit, up 21.9 per cent, on the previous year, came at the end of a costly restructuring programme.…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Flight tax up against Swiss scepticism

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Deiss seeks to drum up trade with new Europe

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Engineering industry picks up steam

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New measures give clear sign to drivers

More

Holcim produces bumper figures for 2005

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Asbestos ruling clears the air for ABB

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Swiss businesses against EU membership

More

Cost cutting at Clariant boosts bottom line

More

Swiss Re meeting backs financing of GE deal

More

Schindler’s lifts reach new level

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