Banking & Fintech

Government wants balanced budget and moderate tax reform

This content was published on Oct 11, 1999 The Swiss government says that balancing the budget and moderate tax reform aimed at attracting foreign investments should be among the key priorities of Switzerland’s financial policy in the coming years. Presenting the government’s financial policy outline Monday, Finance Minister Kaspar Villiger said the main targets should be to keep a firm grip on government…

Swiss banks ready for new millennium

This content was published on Oct 11, 1999 (AP) — Switzerland’s banking regulator on Monday gave the Swiss financial sector’s preparations for the change of millennium a clean bill of health. Some 98 percent of the country’s financial institutions have successfully completed steps to forestall problems with the so-called millennium bug, the Swiss Federal Banking Commission said in a statement. Final tests are…

Swiss-based Universal Postal Union celebrates 125th anniversary

This content was published on Oct 8, 1999 One of the least-known international organisations in Switzerland, the Universal Postal Union, is this weekend celebrating its 125th anniversary. Based in the Swiss capital Berne, the United Nations agency exists to ensure universal services for all its members and it has faced a number of challenges. The UPU is rolling out the red carpet this…

Health minister concerned by 3.8 percent insurance hike

This content was published on Oct 8, 1999 Health Minister Ruth Dreifuss expressed concern Friday about continuing pressure of health care costs on average Swiss families, saying next year’s increase meant that many families would not be able to afford any further premium increases. Dreifuss said she would now push for a new system under which premium payments would be linked to people’s…

Geneva hosts giant telecommunications show

This content was published on Oct 8, 1999 One of the world’s biggest telecommunications shows, known as Telecom 99 & Interactive 99, opened in Geneva Sunday, with international leaders warning of a divide between those countries which have, and those which do not have, high-tech know-how and the latest technology. More than 1,000 exhibitors from 50 nations are showing off their newest products…

Nestlé sells part of frozen food business

This content was published on Oct 8, 1999 (AP) — Swiss food and drinks giant Nestlé said Friday it has concluded negotiations with EQT Scandinavia BV to sell its Findus brand and parts of its frozen food business in Europe. Terms of the deal were not disclosed. Nestlé said the transaction includes all of its frozen food activities in Britain and Scandinavia, as…

Swiss minister pledges to boost trade ties with Algeria

This content was published on Oct 7, 1999 Swiss Foreign Minister Joseph Deiss (left), wrapping up a one-day visit to Algeria, told President Abdelaziz Bouteflika (right)that Switzerland was very keen to boost relations with Algeria, and that a high-level economic delegation would soon visit the country to hammer out the details for increased cooperation. The pledge came at the end of a visit…

Swiss minister in Algeria rings in new era of cooperation

This content was published on Oct 6, 1999 Foreign Minister Joseph Deiss was signalling a new beginning to Swiss-Algerian relations Wednesday by paying the first official visit to Algiers by a Swiss cabinet minister in more than 30 years. Deiss is discussing political, economic and cultural relations during talks with President Abdelaziz Bouteflika, Foreign Minister Ahmed Attaf and Prime Minister Smail Hamdani. The…

Start-up consulting firm adds new twist to old theme

This content was published on Oct 6, 1999

Lawmakers approve enabling legislation for gold sale

This content was published on Oct 5, 1999 (AP) — Swiss lawmakers Tuesday approved legislation that will enable the country’s central bank to begin sales of 1,300 tons of surplus gold reserves from next spring. The 151-0 vote by parliament’s lower house clears the way for the upper house to take up the non-controversial bill in December. It will then go to the…

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