Banking & Fintech

Ascom makes 40 per cent profit

This content was published on Apr 11, 2000 The Swiss technology group, Ascom, increased its profits by nearly 40 per cent last year. Net profits rose to SFr90 million. Due to the good performance, the company announced it would increase dividends to shareholders to eight per cent. Ascom said its e-commerce business through the Internet made up for nearly a quarter of its…

Parliamentarians come up with new proposal to preserve old age pension scheme

This content was published on Apr 11, 2000 A group of mainly Social Democratic members of parliament want to use the interest from National Bank monetary reserves to top-up the federal old age pension scheme. The current scheme, which is paid for 50-50 by contributions from employers and employees, gives subsistence-level pensions to the retired. It is the mainstay of the welfare system…

Swiss banking secrecy under the microscope in new OECD report

This content was published on Apr 11, 2000 Business analysts are awaiting the release of an international report today which places banking secrecy and information laws under the spotlight. Several countries, including Switzerland, are expected to be scrutinised. The report by the Paris-based Organisation for Economic Cooperation and Development (OECD) will be keenly analysed at a time when the issues of banking secrecy,…

Villiger commissions high-powered financial strategy group

This content was published on Apr 10, 2000 The Swiss finance minister, Kaspar Villiger (pictured), has commissioned a high-ranking strategy group to inform him about developments relating to financial policy. The “Group of Reflection”, established a month ago, is to report to him on matters which could affect the political-decision making process, against a background of dynamism on the financial markets and pressure…

British finance minister wants more transparency in European banking

This content was published on Apr 10, 2000 A proposal at the weekend by the British finance minister, Gordon Brown, could have wide-ranging implications for banking secrecy laws in European Union states as well as Switzerland. Brown ruffled feathers with a proposal for EU member states to exchange information on investor income as a way of combatting tax evasion. Brown’s proposal is meant…

SAir Group counting the cost of involvement in LTU

This content was published on Apr 9, 2000 The SAir Group is having to spend SFr115 million on overhauling the German air tours operator LTU, in which it has a 49.9 per cent stake.The Swiss air carrier company is obliged to pay for the restructuring costs due to a clause in the agreement signed with LTU in 1998. A spokesman for the SAir…

Business Week

This content was published on Apr 8, 2000 The main mover on the market this week was the Swiss franc, which made good gains against the dollar and the euro. Its move followed comments by Swiss National Bank chief economist Georg Rich, who said the central bank was no longer trying to hold the franc stable against the euro. With the Swiss currency’s…

Central bank says Swiss economy powering ahead

This content was published on Apr 8, 2000 The vice-president of the Swiss National Bank has said the Swiss economy is growing faster than most of those within European Monetary Union. Jean-Pierre Roth said that was the reason for the recent hike in interest rates. In an interview with the Le Temps newspaper, Roth said the tightening of fiscal policy would in no…

Switzerland heading towards full employment

This content was published on Apr 7, 2000 Unemployment has fallen to its lowest level since 1992. The economics ministry said the rate fell last month from 2.4 per cent in February to 2.3 per cent, with white-collar industry showing the biggest growth. The employment office in the ministry’s state secretariat said it now expects the average for this year to drop to…

Electricity liberalisation poses safety threat at nuclear plants

This content was published on Apr 6, 2000 The energy ministry has warned that the planned liberalisation of the country’s electricity market could lead to cost-cutting measures affecting nuclear safety. The office for nuclear security said it expected power suppliers to cut costs in order to become more competitive. At its annual meeting, the director of the office, Wolfgang Jeschki, said it would…

Banking & Fintech

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Banking & Fintech

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Ascom makes 40 per cent profit

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Parliamentarians come up with new proposal to preserve old age pension scheme

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Swiss banking secrecy under the microscope in new OECD report

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Villiger commissions high-powered financial strategy group

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British finance minister wants more transparency in European banking

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SAir Group counting the cost of involvement in LTU

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Business Week

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Central bank says Swiss economy powering ahead

More

Switzerland heading towards full employment

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Electricity liberalisation poses safety threat at nuclear plants

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