Banking & Fintech

Swiss Re sets up joint credit insurance firm

This content was published on Aug 22, 2001 The deal, announced on Wednesday, will create a new company – Gerling NCM – with a global market share of 25 per cent and expected gross premiums of SFr1.68 billion ($1 billion). Swiss Re, which has a 90 per cent stake in NCM, will receive an undisclosed amount in cash and shares from the transaction…

Performers to stride tightrope, eat fire in Vevey

This content was published on Aug 22, 2001 Performers from around the world have been invited to take part in the festival – now in its ninth year – in the picturesque town on Lake Geneva. The best acts will win the coveted Vevey “cobblestone” award. The golden cobblestone is worth SFr1,000, while the public honours its favourite with a SFr500 prize. The…

CSFB appoints new chief legal officer

This content was published on Aug 21, 2001 Lynch, who has been a partner at Davis Polk & Wardwell, a law firm conducting internal investigations for companies facing scrutiny by the Security and Exchange Commission (SEC), is the second senior lawyer to join the investment bank. Steven Volk, a former partner with US law firm Shearman and Sterling, joined as vice chairman in…

Swiss engineering industry suffers declining orders

This content was published on Aug 21, 2001 The industries’ umbrella organisation, SWISSMEM, said that while orders for this year’s first quarter had shown an “excellent” 10 per cent increase, the second quarter recorded a drop of 20.4 per cent. SWISSMEM said at a news conference in Bern on Tuesday that thanks to a reserve of existing orders, turnover for the first six…

Ackermann in sights of German investigators

This content was published on Aug 21, 2001 Ackermann is now head of investment banking for Deutsche Bank and was a member of Mannesman’s supervisory board at the time of the takeover. German prosecutors are investigating whether there is enough evidence to proceed with charges after accusations that bonuses paid at the time were intended to influence the course of the takeover battle.…

Tilting trains back in service on Swiss tracks

This content was published on Aug 21, 2001 The railways said 11 of its 23 tilting trains had resumed service on Tuesday and that the remainder would be put back on the tracks on Saturday. “The services resumed as planned and without problems,” said spokesman Christian Kräuchi. The trains were suspended from service last week, following an incident in which various parts fell…

Swisscom to offer free Internet access to schools

This content was published on Aug 21, 2001 Swisscom said it was prepared to invest “millions of francs” in the project over the next few years, which it said would enable all Swiss students to access the web from the classroom. “Every child in Switzerland will be able to learn from an early age how to use the new media,” the company said…

Ciba to cut 450 jobs

This content was published on Aug 21, 2001 A company statement said the job cuts were to be made through natural attrition and would mainly affect the paper treatment and water additives units. It said that the move would help achieve annual cost savings of SFr70 million ($42 million). Although the group saw its net profit rise by three per cent over the…

Bergli Hut to Schreckhorn Hut

This content was published on Aug 21, 2001 Aboard the train, the group will travel through a tunnel dug beneath the Mönch summit to the Eismeer station. On clear days, tourists press against the station windows, capturing photos of the spectacular glaciers and towering peaks. Leaving the railway, the party will cross the Challiband, passing the Eiger caves, which served as a bivouac…

Watch this space…

This content was published on Aug 21, 2001 Feature Preview The most prominent of the late 19th century tourists to the Aletsch region was the English banker, Sir Ernest Cassel, who, not happy with the available accommodation, built his own summer residence. The villa is run today as an information centre and guesthouse by the environmental organisation, Pro Natura. This feature will appear…

Banking & Fintech

Popular Stories

Most Discussed

Banking & Fintech

More

Swiss Re sets up joint credit insurance firm

More

Performers to stride tightrope, eat fire in Vevey

More

CSFB appoints new chief legal officer

More

Swiss engineering industry suffers declining orders

More

Ackermann in sights of German investigators

More

Tilting trains back in service on Swiss tracks

More

Swisscom to offer free Internet access to schools

More

Ciba to cut 450 jobs

More

Bergli Hut to Schreckhorn Hut

More

Watch this space…

Popular Stories

Most Discussed