Banking & Fintech

No big adventures abroad for Swisscom

This content was published on Jan 10, 2002 However, Alder told an audience in Zurich that a share buy back programme was increasingly likely. “The probability that Swisscom will go ahead with a buy back programme has increased,” Alder said, commenting that this would benefit shareholders of the company, in which the government has a 65.5 per cent stake. Alder said the alternative…

Switzerland takes silver in globalisation rankings

This content was published on Jan 10, 2002 The 2002 Globalisation Index, presented by the Foreign Policy Magazine on Thursday in Washington, puts Switzerland just behind the globalisation champion, Ireland. The study used economic and political criteria, as well as each country’s use of the Internet, telephone communications and its citizens’ travels. In 2001, Switzerland was two positions lower, behind Singapore, the Netherlands…

Speculation mounts over name for new airline

This content was published on Jan 10, 2002 The new company will be built from regional carrier Crossair and the remains of Swissair, which went bankrupt last October. All sorts of names have been suggested, from ‘Air Switzerland’, to ‘Swiss Airlines’, to more fanciful ideas such as ‘Phoenix Air’ or even ‘Mountain Air’. But advertising executives and airline industry analysts say the new…

Gotthard traffic nightmare returns

This content was published on Jan 9, 2002 Witnesses said there was chaos on canton Ticino roads leading to the Gotthard tunnel, which is the main gateway through the Alps from Germany to Italy. The control post at Quinto was overwhelmed with traffic, and police diverted some trucks to the San Bernardino Pass. Transport officials told swissinfo they were braced for increased traffic…

Swiss luxury hotel passes into German hands

This content was published on Jan 9, 2002 Lindner Hotels of Dusseldorf bought the five star hotel from Credit Suisse’s estates division. The new owners said there would be no changes to the palace’s management and board. The 55 employees have had their contracts renewed and Lindner Hotels said they were starting a year-long renovation programme. The Lindner group own 19 hotels in…

Coop announces gains in market share

This content was published on Jan 9, 2002 Coop said in a statement from its headquarters in Basel that sales had increased by 4.8 per cent last year to reach SFr12.7 billion ($7.66 billion). It added that the first financial year of the new Coop, formed from the merger of regional Coop societies and Coop Switzerland, had been “successful”. Retail sales increased by…

Zurich completes separation of its reinsurance business

This content was published on Jan 9, 2002 A statement said that under the supplementary option relating to the initial public offering of the company, an additional 12.5 per cent of Converium shares had been sold, bringing the total stake disposed of by Zurich to 100 per cent. At the issue price of SFr82 ($49.49), Converium (formerly Zurich Re) has a market capitalisation…

Migros posts a sales record

This content was published on Jan 8, 2002 Migros, a federation of cooperatives, said in a statement from its Zurich headquarters that although it businesses had felt the effects of the economic slowdown, its group cooperatives had performed well. Migros said its 10 regional cooperatives had achieved sales revenues of SFr13.985 billion last year, some 2.9 per cent higher than in 2000. Growth…

Jelmoli plans to split activities

This content was published on Jan 8, 2002 A group statement released on Tuesday said that each existing registered or bearer share as a whole would be replaced with unitary shares: in the new Jelmoli Retail Trading Holding and the new Jelmoli Real Estate Holding. Group strategy has focussed in recent years on two clearly defined sectors: retail trade (Jelmoli Zurich, Fust, Portable…

Sharp increase in jobless figures

This content was published on Jan 8, 2002 The jobless rate rose in December to 2.4 per cent or 86,027 people, according to figures released on Tuesday by the State Secretariat for Economic Affairs in Bern (Seco). Included in this figure are around 1,600 Swissair staff who lost their jobs in December, plus an unspecified number of workers whose livelihoods depended on the…

Banking & Fintech

Popular Stories

Most Discussed

Banking & Fintech

More

No big adventures abroad for Swisscom

More

Switzerland takes silver in globalisation rankings

More

Speculation mounts over name for new airline

More

Gotthard traffic nightmare returns

More

Swiss luxury hotel passes into German hands

More

Coop announces gains in market share

More

Zurich completes separation of its reinsurance business

More

Migros posts a sales record

More

Jelmoli plans to split activities

More

Sharp increase in jobless figures

Popular Stories

Most Discussed