Banking & Fintech

Profit at Rieter takes a fall

This content was published on Aug 24, 2001 The Winterthur-based company said in a statement that it would be a “great challenge” to top last year’s net profit in 2001. Rieter posted a 2000 net profit of SFr146 million on sales of SFr2.93 billion. The company said it expected sales and operating profit to rise this year, although sales growth would probably slow…

Balance of payments breaks all records

This content was published on Aug 23, 2001 The SNB said that in relation to gross domestic product, the current account surplus reached 13 per cent, compared with 11 per cent in the previous year. A statement said exports and imports of goods had expanded by more than 10 per cent in 2000. It added that mainly as a result of higher oil…

Sulzer looks forward to “high” profit in 2001

This content was published on Aug 23, 2001 Group first-half profit jumped to SFr120 million ($72.51 million), after a SFr11 million loss for the comparable period in 2000. The company had net sales of SFr1.873 billion and an operating income of SFr161 million. The company, which is completing a reorganisation, said in a statement that it had a SFr185 million pre-tax profit on…

Swisscom says it is “solid as a rock”

This content was published on Aug 23, 2001 The company said on Thursday that this was mainly due to the sale of a 25 per cent stake in Swisscom Mobile to Vodafone and property divestments. In a statement, Swisscom said sales revenue was up by 2.8 per cent to SFr7.02 billion. For the full financial year, Swisscom said it expected a slight rise…

Tourism sector upbeat despite slowing economic growth

This content was published on Aug 22, 2001 Speaking at the launch of the tourist board’s autumn campaign, Jürg Schmid, the head of Switzerland Tourism, told swissinfo that last year would be hard to match. The tourist industry recorded its best year yet in 2000, thanks to the “Millennium effect”, which pushed US visitors numbers up by 14 per cent. “The very strong…

Nestlé set for another record performance

This content was published on Aug 22, 2001 Nestlé said its profit for the first half of the year expanded to SFr3.15 billion ($1.9 billion) on sales of SFr41.2 billion. The company’s operating profit, however, rose a more modest 0.4 per cent to SFr4.36 billion. “All over the world, the group made good progress in its sales and that is evident if you…

Nestlé shows solid growth

This content was published on Aug 22, 2001 The world’s largest food concern saw its profit for the first half of the year expand to SFr3.152 billion ($1.9 billion) on sales of SFr41.2 billion. The company’s operating profit however, rose a more modest 0.4 per cent to SFr4.315 billion. The increase in sales beat easily beat analysts’ forecasts. The company attributed growth to…

Cabinet approves educational Internet plan

This content was published on Aug 22, 2001 The Economics Ministry said the government would contribute SFr100 million ($60 million) to the programme over the next five years. It envisions that 4,000 primary and secondary schools across the country can be offered free access to the web. The funding, which has not yet been approved by parliament, would go towards special training for…

British authorities fine PaineWebber

This content was published on Aug 22, 2001 The Financial Services Authority fined the company £350,000 (SFr840,000) and also ordered it to pay £10,000 in costs. It said the fine was the second biggest ever imposed. The FSA said PaineWebber had been severely reprimanded for failures between January 1, 1998 and December 15, 1999. The period in question was before UBS acquired the…

Profits tumble at Unaxis

This content was published on Aug 22, 2001 The company blamed the result on a SFr100 million goodwill write down for the ailing semiconductor maker, ESEC, in which it has a 57 per cent stake. But the economic slowdown also bit into profits. Unaxis had already warned earlier this year that its annual operating profit would be affected by lack of demand in…

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Banking & Fintech

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Profit at Rieter takes a fall

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Balance of payments breaks all records

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Sulzer looks forward to “high” profit in 2001

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Swisscom says it is “solid as a rock”

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Tourism sector upbeat despite slowing economic growth

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Nestlé set for another record performance

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Nestlé shows solid growth

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Cabinet approves educational Internet plan

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British authorities fine PaineWebber

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Profits tumble at Unaxis

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