Banking & Fintech

Kuoni results soar to all time high

This content was published on Mar 15, 2000 The biggest Swiss travel company, Kuoni, has lived up to expectations to reach a record performance over 1999. Turnover rose by a fifth to SFr3.5 billion, despite the failed bid to merge with its British counterpart, First Choice. The Zurich-based firm said its overall company results before tax soared to an all-time high of SFr152.8…

Parliament gives cautious welcome to electricity liberalisation

This content was published on Mar 15, 2000 The House of Representatives has put its weight behind the progressive liberalisation of Switzerland’s electricity market. But parliamentarians stressed they did not want any new company to monopolise the industry and allow bosses to cash in on the sudden opening up of the market. In a wide-ranging debate on electricity liberalisation, parliamentarians agreed to the…

Roche given go-ahead to reduce stake in US subsidiary

This content was published on Mar 15, 2000 The Swiss pharmaceutical giant, Roche, has been given the go-ahead to sell up to 19 million shares in the American biotechnology company, Genentech. At current prices, Roche stands to net more than SFr5 billion. The US Securities and Exchange Commission, which oversees trading on Wall Street, raised no objections to Roche’s plans to divest itself…

Swiss franc falls to lowest level in three years

This content was published on Mar 14, 2000 The value of the Swiss franc continued to decline last month, falling to its lowest level for three years. The currency has lost most ground against the US dollar. The Swiss franc’s index rating against the currencies of its main competitors fell 0.3 per cent in February to 150.0. The fall against the US dollar…

Western Switzerland’s answer to Silicon Valley gets another boost

This content was published on Mar 14, 2000 French-speaking Switzerland’s own version of California’s Silicon Valley, is situated next to the Federal Institute of Technology in Lausanne, and is investing millions of francs in a major expansion programme. The Science Park Foundation was created in 1991 and is aimed at fostering and helping new high-tech companies to get off the ground using academic…

Credit Suisse posts record profits

This content was published on Mar 14, 2000 The Credit Suisse group has announced record profits for last year. Switzerland’s second largest bank said net profits rose by 70 per cent to SFr5.2 billion. Credit Suisse said that all its divisions had notched up record profits last year, and that its share dividend would be increased from five to seven francs. Financial analysts…

Aluminium merger put on hold

This content was published on Mar 14, 2000 A planned merger incorporating three of the world’s leading aluminium companies, including Switzerland’s Algroup, has been put on hold, while the European Commission decides whether a tie-up would contravene European competition rules. The European Commission was to rule on whether the merger could go ahead. But one of three companies involved – France’s Pechiney –…

EU agriculture supremo visits Switzerland

This content was published on Mar 13, 2000 The European Commissioner for agriculture, Franz Fischler, has been visiting Switzerland prior to the resumption of talks on the subject within the World Trade Organisation. His agenda has included meetings with the economics minister, Pascal Couchepin, as well as the WTO director general, Mike Moore. Negotiations on agriculture within the WTO are due to resume…

Government urged to improve protection for online shoppers

This content was published on Mar 13, 2000 Switzerland’s federal commission for consumer issues has urged the government to provide more safeguards for people who shop online. The commission wants e-commerce customers to have the same rights as those enjoyed by more traditional shoppers. The commission says its recommendations are necessary because many customers feel e-commerce is unreliable and risky. With further protections…

Carnival time comes to Basel

This content was published on Mar 13, 2000 It may lack the uninhibited atmosphere of Rio and the drunken debauchery of Mardi Gras – and it’s a week late. But the “Fasnacht” which began in Basel in the early hours of Monday is still three days of carnival fun attracting tens of thousands of people. The lights of the city went out at…

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Banking & Fintech

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Kuoni results soar to all time high

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Parliament gives cautious welcome to electricity liberalisation

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Roche given go-ahead to reduce stake in US subsidiary

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Swiss franc falls to lowest level in three years

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Western Switzerland’s answer to Silicon Valley gets another boost

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Credit Suisse posts record profits

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Aluminium merger put on hold

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EU agriculture supremo visits Switzerland

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Government urged to improve protection for online shoppers

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Carnival time comes to Basel

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