Banking & Fintech

St Moritz teases gourmet palates

This content was published on Jan 23, 2002 Nine international guest teams will be present. They will include the best chefs from Las Vegas, Berlin, Paris and Singapore. A total of 19 establishments, including all of the resort’s five-star hotels, are taking part in the event, from January 25 to February 2. The festival’s finale, which will include a multi-course menu for some…

CSFB confirms settlement

This content was published on Jan 22, 2002 CSFB said in a press release on Tuesday, it had signed an agreement with the US Securities and Exchange Commission (SEC) and the National Association of Securities Dealers (NASD) to implement revised procedures governing the allocation of new stock issues. The bank – a unit of Switzerland’s Credit Suisse Group – was amongst a number…

Ascom denies credit rumour as stock falls

This content was published on Jan 22, 2002 Ascom’s shares, already near historic lows amid investor worries about the state of its finances and the ongoing restructuring, had dropped 33 per cent on rumours about the group’s financial situation, and more particularly, that a bank had stopped a credit line. “Normally we do not comment on market rumours,” chief spokesman Stepah Howeg said.…

Refocus at Vögele

This content was published on Jan 22, 2002 Recently appointed chief executive Daniel Reinhard told a press conference in Zurich that Vögele needed to have a clearer focus on its target customers and collection. He said some 25 people at the head office would work the project and it would take nine months to do. The company reported earlier on Tuesday that its…

Aid to Congo hits stumbling block

This content was published on Jan 21, 2002 There are grave concerns that foreign aid will be slow to reach those affected by last Thursday’s devastating volcano in the Goma region. Much of Goma airport’s runway was engulfed by lava and roads in and out of the area have been cut off. Road and air links disrupted “We understand that a number of…

Switzerland given green thumbs up

This content was published on Jan 21, 2002 A study of five European countries’ environmental track records shows Switzerland leading the field in combating so-called “classical” air pollutants from the burning of fossil fuels. It did better than Denmark, Germany, the Netherlands and Britain despite spending less per head on environmental protection than all the other countries. It did less well in a…

Price watchdog calls on Swisscom to lower charges

This content was published on Jan 21, 2002 Marti told the weekly “Schweizer Illustrierte” magazine that he expected the government to demand the management of Switzerland’s largest telecommunications operator to lower its charges. Broadband technology is used in particular for high-speed access to the Internet. Swisscom does not supply the technology to the general public but to Internet service providers. In the interview,…

Switzerland pledges SFr30 million for Afghan reconstruction

This content was published on Jan 21, 2002 Switzerland made the pledge at a donors’ conference in Tokyo, noting that it would provide SFr30 million ($18.5 million) for the impoverished nation, chiefly for humanitarian work and reconstruction. More than 60 other countries and 20 international organisations attended the two-day talks in Japan, which end on Tuesday. The head of the Swiss Agency for…

Zurich airport passenger numbers plummet in 2001

This content was published on Jan 21, 2002 According to airport authorities, the total number of passengers travelling through Kloten in 2001 was 21 million, 7.4 per cent less than the previous year. The number of aircraft take-offs and landings was also down by 5 per cent, to 309, 250. The figures were in line with estimates, said the authorities, despite a strong…

Belimo boosts sales and earnings

This content was published on Jan 21, 2002 A statement from the company’s headquarters near Zurich said that net sales increased by more than seven per cent to SFr229 million ($137.79 million) compared to the previous year. Net profit of SFr23 million was “slightly higher” than in 2000, the statement added. Belimo said that the result was decisively marked by the relatively low…

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