Archive – Banking & Fintech

Railway bosses take stock of network collapse

This content was published on Jun 22, 2005 In an interview with swissinfo, spokesman Christian Kräuchi admitted that railway bosses had no back-up plan in the event of a nationwide network collapse. Around 200,000 people were affected by the unprecedented incident, which halted all trains operated by the Federal Railways. Officials have confirmed that the power went down following a short-circuit in the…

Swiss train network shuts down

This content was published on Jun 22, 2005 A Railways spokesman said the power failure began in the southern canton of Ticino, but could not say what caused it or when trains would begin running again. The entire network collapsed at 17.45 – the first time the Federal Railways has suffered such a breakdown in its history. International intercity trains passing through Switzerland…

Switzerland backs G8 debt deal

This content was published on Jun 21, 2005 The landmark deal was approved by G8 finance ministers earlier this month and is expected to cost Switzerland around SFr30 million ($23 million) a year. “It is a key element in the fight against poverty, but it is not the only one,” said Serge Chappatte, deputy director of the Swiss Agency for Development and Cooperation…

Swiss hide their wealth under a bushel

This content was published on Jun 21, 2005 In percentage terms, the number translates into well over two per cent of the population with personal assets (excluding primary residential property) worth at least SFr1.2 million. However, the study also highlights an interesting social paradox. If the mainstream media are a good guide to what people really think, then “excessive” management salaries are one…

Telecoms operators prepare for next big battle

This content was published on Jun 21, 2005 However, some observers say the battle over access to the copper-cable infrastructure connecting households to the nearest exchange distracts attention from the real issues of the future. In an interview with swissinfo, Professor Matthias Finger of Lausanne’s Federal Institute of Technology says the debate over “unbundling” the last mile is “outdated” and “backward-looking”. Finger, who…

Industrial motor starts to splutter

This content was published on Jun 20, 2005 For the first time in almost two years, production fell by 0.3 per cent and orders by 1.5 per cent. Orders to industry are considered an indicator of future industrial production. The figures of the first quarter 2005 show a slight slowdown in Swiss industry, said the Federal Statistics Office in a statement on Monday.…

Swiss drivers welcome new alcohol limit

This content was published on Jun 20, 2005 What’s more, since the limit was reduced from 0.8 milligrams on January 1, the number of road deaths and injuries in which alcohol was a factor has decreased. The study questioned 1,251 Swiss drivers and non-drivers last month. It was carried out on behalf of the Institute for the Prevention of Alcohol and Drug Addiction,…

State visit may highlight labour-market row

This content was published on Jun 17, 2005 Samuel Schmid’s two-day visit follows a trip to Switzerland in 2002 by his counterpart from the Baltic state, Vaira Vike-Freiberga. Schmid, who is accompanied by a business delegation, will also meet Latvian Prime Minister Aigars Kalvitis for talks expected to concentrate on bilateral relations. There is speculation that the talks could be overshadowed by the…

Mobile software firm moves to market

This content was published on Jun 17, 2005 Esmertec AG, which is based in Dubendorf (near Zurich) and develops software applications, has announced that it will issue five million new shares on the Swiss stock exchange (SWX) on June 30. The planned flotation follows the successful SWX listing of Geneva-based digital TV hardware manufacturer Advanced Digital Broadcasting (ADB). Other Swiss companies that went…

Parliamentary session marked by budget cuts

This content was published on Jun 17, 2005 The three-week sitting was dominated mainly by moves to cut federal spending. For the centre-right parties, who had mostly supported the savings programmes, the results were positive. Both Doris Leuthard, the president of the Christian Democrats, and Radical Party leader Felix Gutzwiller said they were satisfied with the latest round of public-spending cuts. But Hans-Jürg…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Railway bosses take stock of network collapse

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Swiss train network shuts down

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Switzerland backs G8 debt deal

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Swiss hide their wealth under a bushel

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Telecoms operators prepare for next big battle

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Industrial motor starts to splutter

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Swiss drivers welcome new alcohol limit

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State visit may highlight labour-market row

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Mobile software firm moves to market

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Parliamentary session marked by budget cuts

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