Archive – Banking & Fintech

Zurich airport in danger of exceeding capacity

This content was published on Nov 3, 2005 A report, commissioned by the Federal Civil Aviation Office (FOCA), projects a rise in take-offs and landings at Zurich airport from today’s 266,700 to 350,000 in 2017 and 450,500 by 2030. The current capacity is 350,000 flight movements a year. Passenger numbers are predicted to more than double from the current 17.1 million per year…

Switzerland closes chapter on Abacha funds

This content was published on Nov 2, 2005 Justice ministry spokesman Livio Zanolari said the banks had been ordered to pay the funds to the Basel-based Bank for International Settlements in the past few days. The BIS would then credit the money to the central bank of Nigeria, completing the return of all $730 million found in Switzerland. At the end of September,…

Hurricanes blow Swiss Re off profit target

This content was published on Nov 2, 2005 The world’s second-largest reinsurer said aggregate claims for hurricanes Rita and Wilma alone were expected to be $750 million (SFr964 million). Swiss Re said its growth target for 2005 of ten per cent earnings per share would not now be met. It said it would have to use “equalisation reserves to mitigate part of the…

Wind back in Credit Suisse sails

This content was published on Nov 2, 2005 Announcing its results on Wednesday, Switzerland’s second-largest bank said business for both its investment and its private bank sectors had boomed. Credit Suisse was able to take advantage of continued strong growth and confidence in global financial markets, and was able to beat analysts’ forecasts by about SFr400 million. The surprisingly good result follows a…

UBS set to make bumper 2005 net profit

This content was published on Nov 1, 2005 Third-quarter net profit rose by 71 per cent to SFr2.77 billion ($2.15 billion) on higher fees and wealth management, clearly beating market expectations. “We will remain very optimistic about closing what will be an extremely good year for us,” commented UBS chief financial officer Clive Standish in a conference call. Net new money flowing into…

Hunt resumes for oil and gas in Switzerland

This content was published on Nov 1, 2005 But the country’s oil and gas associations have cast doubt on the exercise, saying the country’s deposits are too insignificant to ever be economically viable. London-based Ascent Resources and Swiss Petroleum are targeting previously undeveloped oil and gas discoveries in the western part of the Molasse Basin. Two of the permit areas – one near…

New Swiss airline takes off into stormy skies

This content was published on Nov 1, 2005 Swiss European Air Lines comes into operation on November 1, after being given the green light by the Federal Civil Aviation Office. Swiss – owned by Lufthansa – says the reorganisation saves money, but analyst Sepp Moser believes it is a ruse to outmanoeuvre the German pilots’ union, Cockpit, and former Crossair pilots. Moser also…

Companies profit from family-friendly policies

This content was published on Oct 31, 2005 The findings of the report said firms could increase their yield by eight per cent with measures enabling employees to balance work and family commitments. Presenting the findings on Monday in Bern, the economics minister, Joseph Deiss, said the preconception that childcare subsidies, granting mothers leave of absences, job-sharing, and part-time work resulted in higher…

Plastic bottle market hit by oil hikes

This content was published on Oct 31, 2005 The reason is because crude oil is used in the manufacture of certain types of plastic bottles. Bottled drinks are just the latest products whose prices are facing upward pressure because of the oil price. Drinks’ producers say a price hike is almost certain, but consumers may be spared till January. “We will adapt our…

Sewers tapped for energy potential

This content was published on Oct 31, 2005 On cost terms it can now compete with oil and gas as a method of heating buildings. The heating and cooling system devised and patented by Zurich-based Rabtherm is in demand across the world, from Vienna to Vancouver. But it has taken ten years to reach this point. The company is owned by Urs Studer,…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Zurich airport in danger of exceeding capacity

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Switzerland closes chapter on Abacha funds

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Hurricanes blow Swiss Re off profit target

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Wind back in Credit Suisse sails

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UBS set to make bumper 2005 net profit

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Hunt resumes for oil and gas in Switzerland

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New Swiss airline takes off into stormy skies

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Companies profit from family-friendly policies

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Plastic bottle market hit by oil hikes

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Sewers tapped for energy potential

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