Banking & Fintech

Week in Review

This content was published on Jul 22, 2000 Around 500 shareholders attended the group’s extraordinary general meeting in Zurich. The merger will be finalised if at least 67 per cent of Algroup’s shares are tendered in a swap to begin at the end of August. The deal should be wrapped up in mid-October. The new group will have revenues of SFr20 billion and…

Revealing secrets of the castle keeps

This content was published on Jul 22, 2000 The count bought the enchanting edifice on Lake Thun for what at that time was the princely sum of SFr50,000. Like him, tourists first came to the Bernese Oberland in the first half of the 19th century, drawn by the paddle steamers, which still ply many of Switzerland’s lakes. Until that time the region was…

Switzerland to release Abacha funds to Nigeria

This content was published on Jul 21, 2000 The amount to be returned comes from $670 million in accounts frozen by the Swiss authorities in response to the Nigerian government’s search for funds stashed abroad by Abacha, his relatives and associates. Abacha is accused by Nigeria of systematically pillaging the Nigerian central bank during his five-year rule, which ended in June 1998 when…

Post Office price rises blocked

This content was published on Jul 21, 2000 The government veto on price rises did not extend to other mail, and the Post Office was given the go-ahead to hike prices for heavier letters, packages and bulk deliveries. The communications minister, Moritz Leuenberger, said on Friday that the increase would boost revenues by SFr120 million, once the new prices come into force next…

Exports driving economic growth

This content was published on Jul 21, 2000 The ministry said the figures for June showed no sign of a slowdown. Last month, exports were worth SFr10.34 billion and imports SFr10.29 billion, leaving Switzerland with a trade surplus of SFr48.4 million. For the first six months, Switzerland recorded a trade deficit of SFr609 million, compared to a slight surplus over the same period…

Villiger – no question of abandoning banking secrecy

This content was published on Jul 21, 2000 The two men were in the Swiss city to sign a protocol on double taxation between the two countries. They also discussed banking secrecy laws – which exist in both countries – and said the protocol represented a “coalition to maintain banking secrecy for the benefit of the investor.” The protocol abolishes the five per…

ABB forecasts rising profits

This content was published on Jul 20, 2000 The company made its estimate after publishing much better than expected half-year results. Net profit was up 16 per cent to SFr1.61 billion. The healthy profits were achieved despite a fall in turnover of six per cent to SFr17.96 billion. However, orders are up six per cent compared to the same period last year to…

NGOs call for fair trade liberalisation

This content was published on Jul 20, 2000 In a statement released on Thursday, the “Swiss Coordination for Fair World Trade” said Switzerland had to fundamentally revise its position concerning ongoing negotiations to liberalise agriculture and primarily the services sector. By March 2001, the Geneva-based World Trade Organisation hopes to launch formal negotiations on agriculture and services. No progress was made on these…

New businesses demonstrate fitness for survival

This content was published on Jul 20, 2000 The study followed the fortunes of more than 7,000 companies set up in the period 1996-1997. Four out of five were still in business 12 months later. But their chances of survival depend largely on which sector of the economy they belong to. In the construction industry, 91 per cent of new companies survived compared…

Swiss heavyweights reveal healthy figures

This content was published on Jul 20, 2000 Clariant, one of the world’s biggest specialty chemicals firms, saw sales rise by 17 per cent to SFr5.295 billion. In a statement, Clariant said it expected first half operating profits to be significantly higher than last year. These are due to be released on August 29. It also said sales should remain stable for the…

Banking & Fintech

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Banking & Fintech

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Week in Review

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Revealing secrets of the castle keeps

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Switzerland to release Abacha funds to Nigeria

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Post Office price rises blocked

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Exports driving economic growth

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Villiger – no question of abandoning banking secrecy

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ABB forecasts rising profits

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NGOs call for fair trade liberalisation

More

New businesses demonstrate fitness for survival

More

Swiss heavyweights reveal healthy figures

Popular Stories

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