Archive – Banking & Fintech

Swiss economy looks up

This content was published on Nov 11, 2005 More than 5,000 companies were surveyed, and most reported that they expected higher sales in the coming months. KOF said in a statement that the survey showed companies, especially those in the industry, building and insurance sectors, were optimistic about their prospects for the last three months of the year. “For the coming months, one…

Calmy-Rey reminds China about human rights

This content was published on Nov 11, 2005 Speaking at the Swiss International Business Forum in Zurich, she said the “substantial progress” made by the Chinese government in recent years was to be welcomed. “But there still remain big challenges, particularly regarding protection of minorities, religious freedom and freedom of expression, torture and the death penalty,” she said. At the end of a…

Lufthansa sees silver lining of Swiss cloud

This content was published on Nov 10, 2005 Lufthansa, which bought Swiss in March, was undeterred by the news, saying the recent positive results showed that Swiss was making headway with its restructuring. Swiss said on Thursday in a statement that it was continuing to implement the changes announced in January 2005 – including reducing its fleet by 11 aircraft – to provide…

Bitter-sweet result for Barry Callebaut

This content was published on Nov 10, 2005 The firm announced on Thursday it had sold more than one million tonnes of cocoa- and chocolate products during the year. While turnover remained constant, restructuring and other costs pushed net profit down by 41 per cent to SFr68.3 million ($52 million) from SFr115.6 million a year ago. The firm is overhauling its consumer products…

Swisscom increases profit but cuts jobs

This content was published on Nov 10, 2005 It comes in the same week that competitor Cablecom announced that market conditions would force it to cut the same number of posts in 2006. On Thursday the market leader announced that year-on-year profit had risen by 44.6 per cent to SFr1.65 billion ($1.2 billion), but that net revenue had decreased by three per cent…

Last-minute negotiations aim to save summit

This content was published on Nov 10, 2005 It is hoped that an intersessional gathering in Geneva and a so-called Resumed PrepCom-3 immediately before this month’s summit in Tunis will resolve key stumbling blocks. Like the first phase of WSIS in Geneva in 2003, PrepCom-3 came to an unsatisfactory end on September 30 with serious divisions between main players and no clear solution…

Swiss want WSIS success pushed in Tunis

This content was published on Nov 10, 2005 Furrer, who is operational head of the Swiss delegation, hopes that the successes of the first phase of the WSIS summit in Geneva will be cemented at the second phase in Tunis from November 16-18. But he warns that there are several controversial topics that will come up during the meeting in the Tunisian capital,…

Swiss play down prospect of global trade deal

This content was published on Nov 9, 2005 The aim of the ministerial summit, which will take place in Hong Kong, is to put the finishing touches to the Doha round of talks on lowering trade barriers. But negotiations have been bogged down for a considerable time over differences in agricultural policy. Deiss was in Geneva on Tuesday and Wednesday to measure the…

Eircom deal “makes little strategic sense”

This content was published on Nov 9, 2005 He also pours water on speculation that Switzerland’s largest telecommunications firm is a serious contender for buying Denmark’s former telecoms monopoly TDC. Cash-rich Swisscom has repeatedly made it clear that it is looking for acquisitions abroad, but it has been thwarted in recent attempts to buy both alpine neighbour Telekom Austria and Czech-based Cesky Telecom.…

Swisscom confirms dialling Eircom’s number

This content was published on Nov 9, 2005 But Swisscom said in a terse statement that there was no certainty that an offer would be made for Eircom, the principal provider of fixed-line services in Ireland. Swisscom added that a further announcement would be made “when appropriate”. The cash-rich Swiss company has made no secret that it has been looking for acquisitions abroad.…

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