Banking & Fintech

Swiss get good news about economy

This content was published on Mar 28, 2002 The Swiss Institute for Business Cycle Research (KOF) reported that its monthly business barometer for February stood at -0.80, up from a revised -0.89 in January. The KOF’s leading indicator is considered a barometer of the economy and it signals turning points in GDP growth six to nine months ahead. “We see a trend change…

Partners Group acquires Swiss hedge funds boutique

This content was published on Mar 28, 2002 Partners Group wants to do for hedge fund investment what it has done for private equity, which is to make it less risky, the company says. The acquisition of saisGroup enables Partners to add a range of hedge fund products to its portfolio. saisGroup was founded by three partners who left Credit Suisse Asset Management…

Final curtain for Swissair

This content was published on Mar 27, 2002 More than 4,000 Swissair employees gathered at Kloten airport to mark the end of Swissair’s 71-year-long history when the last flight to Cape Town left the tarmac on Wednesday night. The South African city was also Swissair’s very first destination as a national carrier. The airline, founded in 1931, has since transported more than 260…

Galileo ticks to the rhythm of Swiss clocks

This content was published on Mar 27, 2002 The Galileo system is being billed as a competitor to the United States’ global positioning system (or GPS), which is under the control of the military. Europe has decided to proceed with a rival system – to become operational in 2008 – in a bid to ensure the continent’s 350 million consumers maintain their independence…

“swiss” signs aircraft maintenance deal

This content was published on Mar 27, 2002 The deal is one of the final preparation steps before swiss begins flying operations formally on Monday. A swiss statement from Basel said the deal with SR Technics – a part of the collapsed Swissair Group – would last for seven years and cover the Boeing MD-11, Airbus A330 and Airbus A320 families. SR Technics…

Antarctic travellers take to the air

This content was published on Mar 27, 2002 One of the main sponsors of the project is Ernesto Bertarelli, chief executive of the Swiss biotechnology company, Serono. swissinfo reporter Vincent Landon travelled to Antarctica to witness the clean-up and sail on the expedition’s yacht. As he reports in the first part of his Antarctic diary, just getting to the Russian base proved an…

ABB shares hit by downgrade

This content was published on Mar 26, 2002 ABB closed down 6.6 per cent at SFr12 on Tuesday following the downgrade of the company’s senior debt from Baa2 to A3. Moody’s also lowered the company’s ratings for short-term debt from Prime-2 to Prime-3 on Monday. The lower share price, which was at SFr33.35 in May last year, has made the markets nervous as…

Turkey concerned at Swiss stance on Armenian killings

This content was published on Mar 26, 2002 A senior government minister, Tuncay Toskay, urged the Swiss government to help maintain “the good relations between the two countries”. Last week more than 100 Swiss parliamentarians launched a new bid to formally acknowledge the massacre of hundreds of thousands of ethnic Armenians during the Ottoman Empire in 1915. Speaking after a meeting with the…

“swiss” joins forces with American Airlines

This content was published on Mar 26, 2002 André Dosé, CEO of Crossair, which will be replaced by swiss on April 1, said on Tuesday he was very pleased and “more than little proud” of the alliance with the world’s largest airline. “It will serve to strongly optimise the travel and connection possibilities for our passengers and also for those in the United…

New airline squeezes into crowded skies

This content was published on Mar 26, 2002 Prospects for new national carrier, which officially takes to the skies next Monday, are being talked up in the face of warnings that Europe’s crowded aviation market is too small to sustain another airline on the scale of swiss. Created from the regional carrier, Crossair and the collapsed Swissair, swiss is hoping to achieve a…

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