Banking & Fintech

Airline name game could end this week

This content was published on Jan 27, 2002 Crossair’s board decided on the name of the airline some two weeks ago but has refused to unveil it until legal enquiries are carried out to check that the brand isn’t already registered. Most analysts expect the name to involve some combination of the words “Swiss” and “Air”, possibly: Air Swiss or Swiss Airlines. The…

Switzerland boosts emergency aid to Congo

This content was published on Jan 26, 2002 The latest donation raises the total amount pledged to the disaster-stricken Goma region, to the east of the country, to over SFr1.2 million. The head of the Agency’s Africa section, Hansjürg Ambühl, said a large proportion of the amount would go to the International Committee of the Red Cross (ICRC), which is working to bring…

Lonza manoeuvres dominate week

This content was published on Jan 26, 2002 Lonza chief executive Sergio Marchionne unexpectedly announced on Wednesday that he was quitting after leading the life sciences group to a 30 per cent gain in net profit in 2001. Marchionne, a 48-year-old Canadian, will leave on February 1 to head the Swiss inspection services group SGS, Société Générale de Surveillance. He replaces Antony Czura,…

Swiss insurers look back on difficult year

This content was published on Jan 26, 2002 Although premium revenues reached a record high of SFr50 billion ($30 billion) in 2001, stock market volatility, plunging interest rates and the events of September 11 have all taken their toll on earnings. According to projected figures from the SIA, premium revenue grew by 4 per cent to SFr32.8 billion in direct Swiss life business…

Swiss wine producers raise a glass to the future

This content was published on Jan 25, 2002 More than 15,000 wine growers, producers and industry insiders from Switzerland and around Europe attended the biennial trade fair, Agrovina, in the city of Martigny. But this year’s record attendance level belied a fear among many of those present at the event that Swiss wine is failing to make significant inroads in an already crowded…

Virt-x says it is on track, despite speculation about failure

This content was published on Jan 25, 2002 The company, an Anglo-Swiss venture, was reacting to increasing speculation that after only seven months in operation, it is already a candidate for a takeover. According to unverified reports, the London Stock Exchange is the most likely candidate to take it on board. Virt-x, on which Swiss blue chips, the leading Swiss companies, are traded…

Swiss feasts tempt soldiers in Kosovo

This content was published on Jan 25, 2002 Swiss, Austrian and Slovak KFOR soldiers work together at Camp Casablanca as peacekeepers in Operation Joint Guardian. Meals are a highlight of the day – especially when it’s minus 15 Celsius outside. The canteen seats up to 1,000 troops at the three daily meals: continental breakfast; lunch with a meat-based menu and salads; and a…

Web site opens construction industry to foreign firms

This content was published on Jan 24, 2002 The site, www.simap.ch, will open a sector of industry worth an estimated SFr 35 billion ($30 billion). On the new site, contractors and building firms, both from Switzerland and abroad, will be able to bid for contracts in areas as diverse as bridge building, tunnel security and utilities improvements. The project was presented to the…

Report examines Swiss ties with Apartheid South Africa

This content was published on Jan 24, 2002 The report, commissioned by the independent Switzerland-South Africa Research Group, condemns the decision by Swiss financial institutions to invest in Eskom, the South African state electricity utility. The group has called for a formal investigation of the Swiss ties with Apartheid South Africa. The author of the report, Gottfried Wellmer, said Swiss investment in Eskom…

Sulzer core divisions post higher orders in 2001

This content was published on Jan 24, 2002 In a statement released on Thursday, the company said this represented a seven per cent increase over the previous year when adjusted for acquisitions, divestitures and currency effects. However, due to declining figures at divested operations – Infra, Textil and Burckhardt – orders were 22 per cent lower than the previous year, or one per…

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