Banking & Fintech

Plane crashes in New York

This content was published on Nov 12, 2001 The plane crashed shortly after take off from John F Kennedy International Airport at about 0915 local time, bound for Santo Domingo in the Dominican Republic. Officials sealed off all bridges and tunnels into the city, following the crash, and closed New York’s three airports. “The airports have been closed, and as a precaution we…

Plane crash sends markets tumbling

This content was published on Nov 12, 2001 Key European indices fell by as much as 3.5 per cent immediately after the crash, driven down by airline stocks. British Airways dropped by almost 11 per cent, with Alitalia and Lufthansa falling by 10 and six per cent respectively. “This is going to be very much a knee-jerk reaction,” said analyst, David Thwaites, of…

Zurich parliament backs airline investment

This content was published on Nov 12, 2001 In favour of the investment were 101 deputies, while 67 voted against. The proposal will now be put to the people in a cantonal vote. Zurich’s investment makes up the bulk of SFr400 million that the cantons are expected to invest in the re-launched airline built around Swissair’s regional subsidiary, Crossair. Crossair is set to…

Belgium vows to continue legal action against Swissair

This content was published on Nov 12, 2001 In a radio interview on Monday, the Belgian transport minister, Rik Daems, said the way the Swissair Group had withdrawn from its responsibilities towards the Belgian national carrier, Sabena, was scandalous. Daems said he was talking to affected parties in France, Germany and Portugal to try to take concerted action against the Swissair Group. The…

WTO delegates reach preliminary medications accord

This content was published on Nov 12, 2001 In Switzerland, such an agreement would affect a number of the country’s pharmaceutical companies. In a lengthy late-night negotiating session, the ministers meeting in Doha, Qatar reached a compromise that is expected to be voted on by the WTO assembly on Tuesday. One sticking point for Switzerland as well as the United States has been…

Suter not good enough, says new Crossair committee

This content was published on Nov 12, 2001 Rainer Gut said in an interview with the Swiss-German radio station DRS, the reasons for not choosing Suter were of a qualitative and not of a political nature. The decision not to include Suter as member of the new board has sparked controversy within Crossair and in the half cantons of Basel Country and Basel…

Difficult birth for new airline

This content was published on Nov 11, 2001 Continued discussion over the future of the new Swiss national airline will once more dominate the news as the pilot committee continues its mission of launching a new Swiss airline. Although a buyer was announced last week for the Swissair Group’s IT subsidiary Atraxis, a solution still needs to be found for the two other…

Swiss compete with the best in industries of tomorrow

This content was published on Nov 10, 2001 Three separate reports on global competitiveness – two in the last month – put Switzerland among the world’s best-placed nations to develop “knowledge based” industries. “By knowledge industries, we are talking about industries which rely on relatively highly trained people,” said Georges Haour, professor of technology management at the International Institute for Management Development (IMD)…

Anti-globalisation protesters demonstrate against WTO summit

This content was published on Nov 10, 2001 The march, which was part of a series of worldwide demonstrations against the WTO, ended peacefully in front of the organisation’s headquarters in Geneva. Its aim was to denounce the Doha summit, which protesters say could lead to increased economic liberalisation. “Governments have taken refuge in Doha because they are afraid of the people who…

Couchepin defends patent protection

This content was published on Nov 10, 2001 Couchepin, who was speaking to 142 WTO delegates in Doha, said the protection of pharmaceutical patents was necessary to continue the fight against pandemic diseases such as aids, malaria or tuberculosis in developing countries. The economics minister said health problems in those countries could only be solved if patents were respected. “Protecting pharmaceutical patents will…

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Banking & Fintech

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Plane crashes in New York

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Plane crash sends markets tumbling

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Zurich parliament backs airline investment

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Belgium vows to continue legal action against Swissair

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WTO delegates reach preliminary medications accord

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Suter not good enough, says new Crossair committee

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Difficult birth for new airline

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Swiss compete with the best in industries of tomorrow

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Anti-globalisation protesters demonstrate against WTO summit

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Couchepin defends patent protection

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