Archive – Banking & Fintech

Sumida pulls out of Saia-Burgess race

This content was published on Sep 28, 2005 The move clears the way for the Swiss electronic-parts manufacturer to be taken over by Johnson Electric of Hong Kong, the buyer of Sumida’s stake. Sumida launched a SFr950 ($733) per share bid for Saia-Burgess in July, which was seen as hostile by Saia and not reflecting the true value of the company. A month…

US-Swiss free-trade deal “extremely valuable”

This content was published on Sep 28, 2005 The Swiss government announced its intention earlier this year to begin exploratory talks with Washington on a free-trade agreement. The Institute for International Economics, a research centre based in Washington, presented the preliminary findings of the report on Tuesday. It will be published in full in January when Swiss Economics Minister Joseph Deiss, and the…

Restaurant wins historical “beauty contest”

This content was published on Sep 28, 2005 But since they cannot, swissinfo heard a few stories from admirers of the ancient building in eastern Switzerland. “A beauty contest” is the analogy used by Peter Omachen, a monument conservator and head of the jury of the prestigious Swiss historic Hotel/Restaurant of the Year award. “There are many beautiful women but we were not…

UBS confirms stake in Bank of China

This content was published on Sep 27, 2005 Unconfirmed reports also suggest that UBS rival Credit Suisse has failed with an investment plan of the same value in China Construction Bank. UBS said in a statement on Tuesday that it was entering into a strategic partnership deal with state-backed BOC in investment banking and the securities business. “We regard this agreement as a…

Swiss call for one centre for chemical treaties

This content was published on Sep 27, 2005 The proposal will be discussed at the meeting of the parties to the Rotterdam Convention in Rome, beginning on Tuesday. The three secretariats of the Rotterdam, Stockholm and Basel conventions governing different aspects of the movement, use and disposal of chemicals are already in Geneva but are located separately. The head of the Swiss environment…

Health-insurance costs set to rise again

This content was published on Sep 27, 2005 The Federal Health Office said on Tuesday that the rise would bring the national average monthly premium for obligatory health cover to SFr306 ($236) per adult. There are significant differences in the cost of insurance within each canton from one provider to another. The Health Office recommends that individuals shop around for cover. Geneva remains…

Blades of beauty come to Bern

This content was published on Sep 24, 2005 Hundreds of examples of the finest cutting-edge craftsmanship were on show at the annual Swiss Knife Show in the capital, Bern. The exhibition is the brainchild of Hans Peter Klötzli, who as the fifth generation in a line of knife makers knows that the humble knife can also be a work of art. “We have…

Leica sold to Sweden

This content was published on Sep 23, 2005 At the close of trading on Friday, more than 70 per cent of Leica’s shares had been tendered to Hexagon’s public offer, the Swedish company announced. Hexagon said the definite number would be published on Monday. It offered shareholders SFr440 ($341) in cash plus five B shares of Hexagon, which increases the bid to SFr594…

Tax relief planned for married couples

This content was published on Sep 23, 2005 On Friday it proposed new legislation aimed at addressing the tax discrimination suffered by married couples compared with unmarried working couples. Under the draft law, single people would pay more tax. The government proposes that half the lower of the two incomes would be made tax deductible, with the ceiling at SFr55,000 ($43,000). The changes…

Venture capital for Swiss tech startups surges

This content was published on Sep 22, 2005 Improved opportunity to realize their investments is giving venture capitalists the motivation to increase financing of Swiss technology companies with proven products. The latest evidence of the resurgence of interest in Swiss technology is the SFr21 million ($17 million) participation by Index Ventures of Geneva in the equity of nine-year-old Oanda Corp. Co-founder Richard Olsen…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Sumida pulls out of Saia-Burgess race

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US-Swiss free-trade deal “extremely valuable”

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Restaurant wins historical “beauty contest”

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UBS confirms stake in Bank of China

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Swiss call for one centre for chemical treaties

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Health-insurance costs set to rise again

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Blades of beauty come to Bern

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Leica sold to Sweden

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Tax relief planned for married couples

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Venture capital for Swiss tech startups surges

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