Archive – Banking & Fintech

Panel says Switzerland needs new drugs policy

This content was published on May 23, 2005 In a report published on Monday, the federal commission on drugs called on the government to prepare the ground for a new strategy “that takes into account all psychoactive substances”. “We need to get away from making moral judgements on drugs and behaviour and opt for more pragmatism,” said the commission’s president François van der…

Austrians win Unaxis takeover battle

This content was published on May 23, 2005 The move – which is to take place in two stages – brings to an end an acrimonious takeover battle. Victory had set its sights on taking control of Unaxis and recently raised its stake to an estimated 40 per cent to become the company’s largest shareholder. The Anda-Bührle family has until now fought off…

Swiss call for support of struggling economies

This content was published on May 22, 2005 Addressing the EBRD’s annual meeting in Belgrade on Sunday, Deiss said it was important for action to be taken in countries where people were also fighting for democracy. The EBRD, which is meeting for two days, was set up in 1991 to help build the economies of ex-Soviet countries. It also helps to promote political…

Claim against Skyguide filed in Switzerland

This content was published on May 21, 2005 The claim comes after an attempt to file the suit in Barcelona was reportedly rejected by the Spanish courts. The two planes – a Bashkirian Airlines plane and a DHL cargo jet – collided over southern Germany on July 1, 2002, near the town of Überlingen. The crash killed all 71 on board, including many…

Top banker enters “business ethics” fray

This content was published on May 20, 2005 Peter Wuffli, group CEO of banking giant UBS, condemned what he called the “almost cyclical abuse of power by business leaders” that led to a series of high-profile corporate collapses in recent years. However, he told the 35th annual ISC conference at St Gallen University that society now ran the risk of “going too far”…

Plan to reduce alpine traffic gets thumbs-up

This content was published on May 19, 2005 The authors of a report commissioned by the transport ministry said that an “alpine transit exchange” was technically and economically feasible. The final decision lies with the government. The idea has the backing of the Alpine Initiative, an association set up to protect and preserve the alpine region. The aim is to reach the government…

New law on dangerous chemicals approved

This content was published on May 18, 2005 Conforming to European Union norms, the legislation should also boost trade for Switzerland’s chemical industry. The move brings Swiss regulations into line with EU norms. For example, permitted levels for certain heavy metals will be introduced and bans placed on chemicals such as nonylphenol ethoxylates – used in a number of household and commercial cleaning…

Liquidator turns sights on Swissair partners

This content was published on May 18, 2005 In his monthly letter to Swissair’s creditors, Karl Wüthrich said the payments were made after it was clear that Swissair would collapse, making the two firms preferential creditors. Wüthrich said claim avoidance actions would shortly be lodged against Swiss and the operator of Zurich airport, Unique. He also intends to pursue similar actions against numerous…

More protection needed against natural hazards

This content was published on May 18, 2005 Federal and local authorities spend at least SFr2.5 billion ($2.04 billion) every year on protection measures against potential disasters. The National Platform for Natural Hazards said in its latest report to the government that safeguards could be improved despite the large sums of money invested each year. The report, presented on Wednesday, said that risk…

“Window of opportunity” for US free-trade deal

This content was published on May 18, 2005 Following several parliamentary requests, the government says it will examine whether formal moves should be made to start negotiations with US officials. A spokesman for the economics ministry told swissinfo that the issue would be discussed “in general terms” at a special meeting of the federal government on Wednesday. No definite decision was due at…

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