Banking & Fintech

Switzerland sends aid to drought victims in Central America

This content was published on Sep 6, 2001 The Swiss Development Agency announced it had sent SFr600,000 to help the estimated 1.5 million people in El Salvador, Nicaragua, Guatemala and Honduras who are affected by the severe drought. The lack of rain has had a devastating affect on this year’s crop yields, reportedly destroying more than 27,000 hectares of basic grain crops in…

Swiss blue chips suffer further losses as SMI falls to three year low

This content was published on Sep 6, 2001 During Thursday’s session, the SMI fell 1.73 per cent at 6395.5, the first time the index has fallen beneath the 6400 level since October 1998. Healthy first-half results from the digital broadcast company, Kudelski, and cement producer, Holcim, failed to prevent the SMI’s fall and many analysts see little hope of a recovery until later…

New chief at Migros

This content was published on Sep 6, 2001 Everts, who had announced his resignation in April, said at the time he wanted to clear the way for his successor to continue restructuring the group. Everts has been in charge of the retail giant since 1997. During Everts tenure, the group’s image has undergone a major change and sales revenue has increased by 20…

Volatile equity markets contribute to Zurich Financial earnings decrease

This content was published on Sep 6, 2001 Europe’s third-largest insurer showed a first-half “normalised” net profit of SFr1.57 billion ($922 million), down from SFr1.87 billion for the comparable period in 2000. Normalised net profit is the company’s main measure of sustainable profit, filtering out fluctuations in investment earnings and using fixed rates of return on shares and income securities. Net profit measured…

Swisscom creates new IT unit with cantonal banks

This content was published on Sep 6, 2001 The merger will create an enterprise with annual sales revenue of around SFr900 million ($528 million) and a workforce of 2,300. Swisscom will have a 71.1 per cent stake in the new venture with the rest owned by AGI Holding. The company, to be called Swisscom IT services, will be active in 18 cities nationwide…

Sabena faces more action from disgruntled staff

This content was published on Sep 6, 2001 The carrier was forced to cancel almost a third of its morning flights after the pilots responded to their union’s call for industrial action. They are protesting plans to abolish a system of promotion based on seniority. The pilots’ action is the latest in a series of strikes that have hit the airline since management…

Holcim beats market expectations with first-half performance

This content was published on Sep 6, 2001 The Swiss group saw its first-half earnings increase 12.8 per cent to SFr397 million ($233 million). Analysts had expected about SFr354 million. Operating profit jumped 6.9 per cent to SFr997 million on a sales increase of 5.4 per cent. But a statement said operating profit for the year as a whole should be around the…

Coffee – just my cup of tea

This content was published on Sep 5, 2001 The study, carried out by the Lausanne-based Nestlé Research Centre, compared green tea, cocoa, herbal teas and coffee, and found that coffee contained four times more antioxidants than green tea. Antioxidants reduce the effects on the human body of harmful substances known as free radicals, which are believed to be a major contributor to cardiovascular…

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Zurich opens addict injection rooms to other drug users

This content was published on Sep 5, 2001 Monika Stocker, head of Zurich’s social services, said the scheme was being extended to remove active drug takers from public places to an environment where they have access to help. She added that most heroin users preferred to smoke the drug than inject it so it made sense to allow them to use the rooms…

Outlook still bright at Logitech

This content was published on Sep 5, 2001 Speaking at a conference Logitech’s chief financial officer, Kristen Onken, said that the company expected sales growth of 12 to 14 per cent in the second quarter to September and a 35 to 40 per cent increase in operating income. Announcing first quarter results in July, Logitech said sales rose by 26 per cent to…

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Banking & Fintech

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Switzerland sends aid to drought victims in Central America

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Swiss blue chips suffer further losses as SMI falls to three year low

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New chief at Migros

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Volatile equity markets contribute to Zurich Financial earnings decrease

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Swisscom creates new IT unit with cantonal banks

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Sabena faces more action from disgruntled staff

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Holcim beats market expectations with first-half performance

More

Coffee – just my cup of tea

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Zurich opens addict injection rooms to other drug users

More

Outlook still bright at Logitech

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