Banking & Fintech

Swiss National Bank continues gold sales

This content was published on Aug 11, 2000 The Bank said its gold reserves fell by SFr119.3 million ($69.8 million) to SFr37.99 billion ($22.2 billion) in the ten-day period ending August 10. The National Bank began selling gold in May when Switzerland’s new currency and payment law came into force. The government plans to hold on to 1,300 tonnes of gold – half…

Vaud cantonal bank posts good results

This content was published on Aug 11, 2000 In a communiqué, the bank said the results were due to a strong rise in commission operations, together with an increase in business on the balance sheet. It added that the bank’s principal subsidiaries, whose activity is centred on asset management, saw a “remarkable advance in business volumes and earnings”. In its outlook for the…

Consumer confidence returns to pre-recession levels

This content was published on Aug 10, 2000 A survey of 1,100 households by the Swiss State Secretariat for Economic Affairs in Berne shows that the index of consumer confidence is at its strongest for 10 years. In July it reached 21 points, up from an already high level of 19 in April. Only 15 months ago, the reference index was hovering around…

Zurich Life announces cooperation with BUPA

This content was published on Aug 10, 2000 “This cross-marketing deal is part of the group strategy to break up the value chain and outsource areas where we are not strong,” said Bernard Schluep, head of Zurich Life International. The alliance is seen as fitting in with Zurich Financial’s stated goal to raise its customer total to 100 million in the future from…

Watch export revenues reach new high

This content was published on Aug 10, 2000 A communiqué from the Federation of the Swiss Watch Industry in Biel said some sectors were now “stretched to the limits of their capacity”. As a result, Swiss manufacturers have significantly increased imports of watch components. “The watchmaking branch has derived the full benefit from a particularly favourable world economic context and a Swiss franc…

Zurich business dances to a techno tune

This content was published on Aug 10, 2000 The Street Parade started back in 1992 with around 1,000 participants and no official sanction from the Zurich authorities. Its roots were strongly embedded in the alternative techno music scene which existed in the city at the time. Over the past few years techno music has become much more mainstream as an increasing number of…

Switzerland reportedly becoming centre for conflict diamonds

This content was published on Aug 9, 2000 A report in the “Tages Anzeiger” newspaper has said that Switzerland is fast becoming the marketplace for so-called “conflict” diamonds. At the beginning of last month, the United Nations imposed an embargo on diamond exports from Sierra Leone because of fears that rebels were selling the stones to finance their war against the government. The…

Sales surge at Jomed

This content was published on Aug 9, 2000 Operating profit at the Zurich-based group more than doubled at SFr6.8 million, with net profit tripling to SFr4 million. “In addition to strong growth in Europe, the Japanese market is progressing very well and has seen a continual climb in sales,” the company said in a statement. The company was launched on the SWX New…

Swissair may buy additional stake in SAA

This content was published on Aug 9, 2000 However a Swissair spokesman told swissinfo that “Everything is possible. We are not in a hurry as there is still enough time to make a decision and we will make that decision later this year.” Last year Swissair bought a 20 per cent stake in SAA from Transnet for Sfr341 million ($201 million). It also…

Slow recovery for tourism sector

This content was published on Aug 9, 2000 The number of nights spent in Swiss hotels increased marginally over last year, by 0.9 per cent to 32 million. This is still significantly less than the record 35.7 million set in 1990. Tourism remains Switzerland’s third biggest industry, and the report attributed the slight upturn to improvements in quality, more competitive prices, better advertising…

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Banking & Fintech

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Swiss National Bank continues gold sales

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Vaud cantonal bank posts good results

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Consumer confidence returns to pre-recession levels

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Zurich Life announces cooperation with BUPA

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Watch export revenues reach new high

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Zurich business dances to a techno tune

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Switzerland reportedly becoming centre for conflict diamonds

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Sales surge at Jomed

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Swissair may buy additional stake in SAA

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Slow recovery for tourism sector

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