Banking & Fintech

Wine and dine among vineyards

This content was published on May 1, 2002 Epesses is one of many picturesque villages on the north shore of Lake Geneva that live from its vineyards. For the third year in a row, the vintners of Epesses and surrounding villages are offering a wine tasting, on May 4. The cellars will be open from 9am to 5pm and visitors can sample local…

Swiss farmers demand more money

This content was published on Apr 30, 2002 Survival for many farmers in Switzerland is becoming impossible, according to the union, which says some have to get by on annual incomes of just SFr30,500 ($18.800). They blame part of the problem on globalisation – which means cheaper imports of agricultural products – and the misallocation of public funds. The Farmers’ Union on Tuesday…

Sacked ambassador chooses Berlin over Bern

This content was published on Apr 30, 2002 This was Borer’s last week as ambassador and brings to an end to the career of Switzerland’s most colourful diplomat. He resigned unexpectedly on April 10 after the Swiss foreign minister, Joseph Deiss, ordered him to return to Bern. Borer fell from favour after the Swiss tabloid newspaper “SonntagsBlick” published photographs allegedly showing a 34-year-old…

New Pilatus trainer ready for takeoff

This content was published on Apr 30, 2002 The new PC-21 comes 11 years after the Pilatus Aircraft firm launched its successful PC-12. The company believes the new aircraft can replicate the commercial success of the PC-12, a light passenger craft, popular with Australia’s outback flying doctor’s service and US drug enforcement agencies. The PC-21 is a “low-wing”, single-engine craft with a twin-cockpit,…

Football clubs face cash crises

This content was published on Apr 30, 2002 Tuesday’s announcement by the national league’s licence commission emphasised the particularly harsh situation facing clubs from the French- and Italian-speaking regions of Switzerland with Lausanne, Neuchâtel Xamax, Servette, Sion, Lugano and Locarno all on the list of threatened teams. Fighting an ongoing battle against bankruptcy, FC Lucerne also make an unsurprising appearance on the list,…

Farm activists on trial

This content was published on Apr 30, 2002 The accused are members of the farmers association, Uniterre, which accuses the supermarkets of ruining beef, lamb and pork farmers by undercutting prices. Fernand Cuche, the Uniterre general secretary and a member of the House of Representatives, has defended last November’s blockade as legitimate. The activists face fines worth up to SFr3,000 ($1,853). They also…

Downturn gives Switzerland a competitive edge

This content was published on Apr 29, 2002 Switzerland jumped three places to position seven in the IMD’s World Competitiveness Yearbook, edging ahead of Hong Kong (ninth) and Ireland (tenth), which were ahead of Switzerland last year. The United States remains in top spot. The study’s director, Professor Stéphane Garelli, said Switzerland’s improved ranking had little to do with its own performance and…

Swiss to invest more in brain power

This content was published on Apr 29, 2002 The interior and economics ministers, Ruth Dreifuss and Pascal Couchepin, say they aim to increase research and education budgets by 6.5 per cent per year from 2004 to 2007. Funding was set at SFr14 billion ($8.5 billion) overall for the 2000-2003 period. The initiative is designed to help Switzerland make up lost ground on other…

ABB launches $900 million bond issue

This content was published on Apr 29, 2002 ABB said the bonds would be due in 2007, would be convertible into about 85 million ABB shares, and pay interest at between 4.63 to 5.13 per cent. The troubled company is working to rebuild market confidence after its share price collapsed amid news of a debt mountain. But a $3 billion credit deal with…

Axovan raises SFr30 million second round

This content was published on Apr 29, 2002 Axovan AG announced that it has secured SFr30 million (€20.5 million) in second-round financing through a private placement led by Atlas Venture (UK). New investors are Heidelberg Innovation (Germany), NeoMed (Norway), Banque Cantonale Vaudoise Private Equity, plus the previous round’s investors. Axovan raised SFr8 million in June 2000 from Swiss investors New Medical Technologies (NMT),…

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Banking & Fintech

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Wine and dine among vineyards

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Swiss farmers demand more money

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Sacked ambassador chooses Berlin over Bern

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New Pilatus trainer ready for takeoff

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Football clubs face cash crises

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Farm activists on trial

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Downturn gives Switzerland a competitive edge

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Swiss to invest more in brain power

More

ABB launches $900 million bond issue

More

Axovan raises SFr30 million second round

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