Banking & Fintech

South Africa to buy Swissair stake in national airline

This content was published on Nov 21, 2001 South Africa’s minister for public works, Jeff Radebe, said the purchase would be carried out through the public transport company, Transnet. South African Airways sold one fifth of its shares to Swissair in 1999 for $200 million (SFr350 million) in a government move to privatise the airline. Swissair was placed in receivership last month. If…

Novartis goes generic in Brazil

This content was published on Nov 21, 2001 Novartis hopes its sales will reach $100 million (SFr166 million) by 2004. Its aim is to protect its own market share in a country with 170 million potential consumers. The generic market is still in its infancy in Brazil, and sales of this type of pharmaceutical were authorized just two years ago. Major drug companies…

Flagging Swiss tourism industry gets a boost

This content was published on Nov 21, 2001 Switzerland Tourism is set to receive the boost to its 2002 budget in order to avoid short-term losses after the Swissair crisis deprived the country’s main tourism marketing body of a valuable partner. Swissair and Switzerland Tourism have worked jointly to attract visitors from overseas. Over the last four years, they collaborated to promote Switzerland…

Barnevik steps down as ABB chairman

This content was published on Nov 21, 2001 Announcing his departure on Wednesday, Barnevik said the company’s poor share performance had prompted him to leave. ABB said on Wednesday that Juergen Dormann, a board member who is also chairman of the management board at pharmaceuticals group Aventis, would succeed Barnevik. Dormann will prepare other board nominations for the March shareholders meeting. In a…

Dark day for Swiss private media

This content was published on Nov 21, 2001 Tamedia said it was acting in agreement with its partner SBS Broadcasting Systems, which had already halted its payments to TV3 on January 1. The announcement made on Wednesday cited slack economic growth and legislation hurdles as reasons for closing the national television station. The company said that it could no longer justify spending money…

Swisscom satisfied with third quarter results

This content was published on Nov 21, 2001 Operating income before interest, tax and depreciation rose 7.8 per cent to SFr3.44 billion ($2.07 billion) in the first nine months of the year. Swisscom, which is Switzerland’s largest telecommunications group, said in a statement on Thursday that “in a stable market environment” revenue rose by 2.2 per cent year-on-year to SFr10.61 billion. Swisscom spokeswoman…

Sweet figures at Barry Callebaut

This content was published on Nov 20, 2001 The company, which processes 14 per cent of the global cocoa harvest, said sales revenues in the 12 months ending in August had increased by six per cent to SFr2.548 billion compared with the previous reporting period. A statement on Tuesday said that the figures were an indication that the company had grown twice as…

Sales up, profit down at Phonak

This content was published on Nov 20, 2001 Sales between April and September rose to SFr290 million ($175.23 million) but profit fell by 21.5 per cent to SFr26.7 million compared with the comparable period in 2000. Operating profit during the reporting period fell by 12.1 per cent to SFr41.5 million. However, investment during the period almost doubled to SFr13.9 million. The Unitron group,…

November 7, 2001

This content was published on Nov 20, 2001 Bearing in mind the extraordinary situation on the roads arising from the accident in the Gotthard tunnel, the cantons of Grisons, Uri, Ticino and Vallais have in fact boosted their winter service and set up a 24 hour call-out service. Nevertheless, the winter conditions are likely to lead to problems, particularly on the San Bernardino…

October 25, 2001

This content was published on Nov 20, 2001 The closure of the Gotthard road tunnel has far-reaching consequences for road traffic in Switzerland and Europe. On an average day, some 18,700 vehicles pass through the tunnel. Following the accident, private vehicles are being deviated across the Alpine passes. It is hoped to keep open both the Simplon and the Gotthard passes to winter…

Banking & Fintech

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Banking & Fintech

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South Africa to buy Swissair stake in national airline

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Novartis goes generic in Brazil

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Flagging Swiss tourism industry gets a boost

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Barnevik steps down as ABB chairman

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Dark day for Swiss private media

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Swisscom satisfied with third quarter results

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Sweet figures at Barry Callebaut

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Sales up, profit down at Phonak

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November 7, 2001

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October 25, 2001

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