Archive – Banking & Fintech

Brakes put on general Sunday shopping

This content was published on Dec 8, 2005 The decision comes just 11 days after Swiss voters narrowly accepted a labour law permitting shops at airports and major railway stations to open their doors on Sundays. A motion passed by the Senate last year called on the government to come up with a legal framework allowing Sunday work at retail outlets and at…

Switzerland too complex for foreign investors

This content was published on Dec 7, 2005 Speaking on Wednesday, he said that to remain competitive the country had to change, and must narrow the gulf between sluggish domestic consumption and a booming export sector. Garelli was addressing a forum in Zurich organised by the Osec Business Network Switzerland – an association that promotes Swiss exports. “Switzerland is too complicated” for most…

Football stadium receives solar prize

This content was published on Dec 7, 2005 The Stade de Suisse houses the biggest solar power installation ever incorporated into the roof of a football stadium. The European Association for Renewable Energy, Eurosolar, awarded a number of prizes in different catagories. The operators of the stadium in the Swiss capital, Bern, were commended for their use of renewable energy at the sports…

Next year’s budget on way to approval

This content was published on Dec 7, 2005 It was approved thanks to the strong support of the centre-right parties, the Radicals and the Christian Democrats, and the backing of a large number of centre-left Social Democrats. The rightwing Swiss People’s Party and the Greens voted against on Wednesday following several days of discussion. The Senate approved the SFr53 billion budget last week,…

Nuclear waste still looking for a home

This content was published on Dec 7, 2005 With no suitable location at home for highly radioactive waste – mostly spent fuel rods – the Swiss might even consider shipping the problem abroad. Since February 2005, Switzerland’s nuclear energy law has called for all waste to be stored in the country if possible. In the face of opposition from cantons, the legislation gave…

Swisscom employees vow to fight privatisation

This content was published on Dec 6, 2005 A delegation handed in a petition to the finance ministry on Tuesday and warned of further job cuts. More than 100 Swisscom workers staged a demonstration outside the ministry in Bern against government plans to privatise the telecoms company. The unions, which organised the rally, said they would force a nationwide vote on the issue…

Swisscom “must expand abroad to survive”

This content was published on Dec 5, 2005 Alder condemned the government’s interference and called for a clear-cut relationship between Swisscom and the federal authorities, which have a 66 per cent controlling interest. Swisscom said on Monday that it has ended negotiations to buy Irish telecoms company Eircom after being instructed by the government’s representative on the board that the proposed deal was…

Swisscom slams cabinet over acquisition ban

This content was published on Dec 5, 2005 The board of directors said it would prepare a business strategy in line with government guidelines to be presented before the end of the year. Swisscom said that until then there would be no major changes in the company’s management and board. The firm’s leadership said they would abide by the government guidelines, after last…

Swisscom accepts government decisions

This content was published on Dec 5, 2005 The former state monopoly said management and the board of directors would not consider resigning until a new strategy is in effect by the end of the year. Swisscom broke off talks with Irish operator Eircom after the government blocked it from making foreign acquisitions and effectively torpedoed any deal. The company said in a…

Algerian railways attract Swiss business

This content was published on Dec 4, 2005 Algeria plans to invest SFr66 billion ($50.1 billion) in infrastructure over the coming years, a large portion of this on its railway network and rolling stock. Deiss, along with the Algerian transport minister Mohamed Maghlaoui, opened an Algerian-Swiss Rail Day on Saturday. The event was organised by SwissRail, the umbrella organisation of the Swiss railway…

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