Banking & Fintech

Modex suffers losses

This content was published on Nov 5, 2001 The start-up company reported on Monday a loss of nearly $6.6 million (SFr10.8 million) in the period from January to September, some 61.6 per cent higher than the comparable period last year. The operational loss reached SFr12.4 million or almost 70 per cent higher, while the cash flow tripled, rising from Sfr468,000 to SFr1.5 million.…

Unaxis hammered by economic downturn

This content was published on Nov 5, 2001 Orders in the third quarter fell by 30 per cent to SFr312.6 million ($191.66 million) and sales declined by 20 per cent to SFr457.4 million, compared to the previous quarter. Unaxis, the former Oerlikon-Bührle, said in a statement that comprehensive measures for sustainable cost reduction had been introduced. The group said if the results of…

Expo.02 – a spark of hope

This content was published on Nov 5, 2001 After the massacre in Zug, the collapse of Swissair and the inferno in the Gotthard tunnel, many Swiss are feeling rather depressed and lethargic. According to a study by the university of Basel, one in four Swiss has some form of depression and the percentage of people suffering from slight depression has risen from eight…

Swiss lead efforts to boost airline security

This content was published on Nov 5, 2001 Until the end of the week, the Swiss are heading a special session of the International Civil Aviation Organisation in Montreal aimed at hammering out a consensus on aviation security measures. Experts from all across the industry are taking part in the meeting, which was called in response to the September 11 terrorist attacks in…

Switzerland cracks down on drunk driving

This content was published on Nov 4, 2001 Alcohol tests, which were carried out throughout Europe during the weekend, revealed that three times more Swiss drive under the influence compared with their European counterparts. This represents 58 drunk drivers out of 2352 people tested in Switzerland and Lichtenstein. More than 2700 policemen tested 49,000 drivers across Europe. The figures, based on results from…

Kuoni cuts 500 jobs

This content was published on Nov 4, 2001 Even though most of the jobs will be cut in the United States, Scandinavia and Italy, Switzerland will also be affected. Kuoni spokeswoman Regula Weyermann said that no Swiss employee will actually be made redundant, however, she is expecting that 20 to 30 jobs will not be filled when vacated. Of the 6,500 people currently…

Switzerland plans online government

This content was published on Nov 4, 2001 An online discussion forum on the subject has been set up to allow political parties, organisations and individuals to submit opinions and suggestions for e-government. The online forum runs until November 7, after which the government will begin building-up its online presence. The government says it wants to exploit the benefits of having services online,…

Brainpower offers good news

This content was published on Nov 4, 2001 The company, which is a global provider of e-finance and intranet financial applications to both online financial service providers and investment professionals, managed to increase revenues by 112 per cent over the second quarter of 2001 at €1.8 million (SFr2.7 million). Italian-born Rocco Pellegrinelli, chief executive of the Lugano-based group, decided to start up on…

Future shape of Swiss airline to remain in focus

This content was published on Nov 4, 2001 On Friday, the government said it had received positive signs for a solution to the financial crisis facing the Swissair Group’s key subsidiaries. Earlier in the week, it had issued a warning to the banks and cantons that they had to find funds to save the airline-related businesses of the Group. The government has refused…

Swiss transport minister invites EU counterparts

This content was published on Nov 3, 2001 In an interview with Swiss television on Friday evening, Leuenberger said he had invited transport ministers from France, Austria, Germany and Italy, as well as the European Transport Commissioner, Loyola de Palacio. “All our neighbours reacted positively to the invitation,” Leuenberger said. “The meeting will take place as soon as possible, but we haven’t set…

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