Banking & Fintech

Government puts forward plans for using excess gold

This content was published on Jan 20, 2000 The Swiss government has ruled out using excess gold reserves from the National Bank to reduce the country’s debt. A spokesman said the cabinet had other plans for the proceeds from the sale of 1,300 tonnes of gold, which parliament approved last year. The gold is no longer considered necessary for the bank to achieve…

Clariant in takeover talks with BTP

This content was published on Jan 20, 2000 The specialty chemicals group, Clariant, is in takeover talks with the British fine chemicals company, BTP. The Financial Times newspaper on Thursday said analysts had suggested an offer of around SFr15 a share, valuing the company at more than SFr2.5 billion. Clariant confirmed it was in negotiation but gave no further details. Rumours of a…

Sulzer releases mixed results

This content was published on Jan 20, 2000 The industrial and medical technology group, Sulzer, has reported another mixed set of sales figures. The group as a whole has announced a two per cent increase for 1999, but that masks some considerable differences in performance. Once again, Sulzer Medica is the star of the group, reporting a rise in sales of eight per…

New boss plans shake-up of Locarno film festival

This content was published on Jan 19, 2000 The new president of the Locarno International Film Festival, Giuseppe Buffi, says the organisation has to adopt a more professional approach, if it’s to survive in the long-term. Buffi, a member of the Swiss Senate, said Locarno had to introduce professional structures, if it was to stave off eventual financial collapse. Speaking at his first…

Novartis reportedly seeking merger partners

This content was published on Jan 19, 2000 The Swiss life sciences giant, Novartis, is looking for merger partners in the United States, according to a report in Britain’s Financial Times newspaper. The paper says Novartis has its sights on a tie-up with with American Home Products or Pharmacia and Upjohn. Citing sources close to the company, the FT says Novartis is exploring…

Swiss Life to shed 280 jobs

This content was published on Jan 19, 2000 The insurance company Rentenanstalt/Swiss Life says it is going to shed 280 jobs over the next year. The company says most of losses will be among its administrative staff, but it does not anticipate any forced redundancies – it says the jobs will be shed through voluntary resignations and retirements. The cuts come as part…

Swiss government plans tighter rules for GM crops

This content was published on Jan 19, 2000 The cabinet plans to introduce tighter regulations for producers of genetically-modified organisms, but has stopped short of imposing a complete ban on the planting of GM crops. The draft proposal aims to protect bio-diversity and the dignity of living creatures, without stifling further research. The seven-member Swiss cabinet had indicated that a complete ban on…

Swisscom to launch mobile Internet services

This content was published on Jan 18, 2000 Switzerland’s largest telecommunications operator, Swisscom, has announced that it is to launch a new era in technology next month. It is bringing the Internet mobile phone service to Switzerland with the new worldwide standard called Wireless Application Protocol (WAP). Swisscom says that after the explosion in use of the Internet and the mobile phone over…

Davos summit organisers play down threat of protests

This content was published on Jan 18, 2000 The World Economic Forum has rejected accusations of a lack of transparency and is playing down the threat of disruption by demonstrators when its annual meeting opens in Davos on January 27. At a presentation of the elite meeting’s line-up at the Forum’s headquarters in Geneva, the organisers said they had invited 650 media representatives…

Ares-Serono registers record sales

This content was published on Jan 18, 2000 The biotechnology company, Ares-Serono, has posted strong double digit growth, with 1999 sales up 14.8 per cent. Sales have broken through the SFr1.5 billion($1 billion) threshold for the first time, with fourth quarter sales up more than eight per cent to a record of more than SFr430 million. “Surpassing our goal of $1 billion in…

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Banking & Fintech

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Government puts forward plans for using excess gold

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Clariant in takeover talks with BTP

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Sulzer releases mixed results

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New boss plans shake-up of Locarno film festival

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Novartis reportedly seeking merger partners

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Swiss Life to shed 280 jobs

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Swiss government plans tighter rules for GM crops

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Swisscom to launch mobile Internet services

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Davos summit organisers play down threat of protests

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Ares-Serono registers record sales

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