Banking & Fintech

Growing number of near misses in Swiss airspace

This content was published on Jul 27, 2001 The Swiss air accident investigation bureau said 51 air incidents were recorded in 2000, confirming a report in the “Blick” newspaper. Of that number, 22 incidents were considered near misses. In a further 14 cases collision was considered possible. In 1999, 11 near collisions were recorded. “We are registering more and more near collisions,” bureau…

EC approves Nestlé acquisition of Ralston

This content was published on Jul 27, 2001 “The Commission gives conditional clearance to the acquisition,” it said in a statement. Nestlé, the world’s biggest food group, agreed to conditions in Italy, Spain and Greece, including the licensing of several pet food brands. The deal cannot yet be closed, however, because it has yet to be approved by the US Federal Trade Commission.…

Profits down at Zurich cantonal bank

This content was published on Jul 27, 2001 In a statement, the bank said that it expected a lower profit for the year as a whole compared with last year. It said that in “difficult market conditions”, profit for the first six months fell by 16.2 per cent to SFr338.3 million ($197.26 million). “At this half-year stage, we do not expect to reach…

Stock Exchange pleased with virt-x launch

This content was published on Jul 27, 2001 At the annual news conference of the exchange in Zurich, management said that it was pleased with the launch in June of virt-x, the first ever pan-European blue chip exchange. Virt-x has come under attack from analysts who have argued that the volume of shares traded has been disappointing. Antoinette Hunziker-Ebneter, head of the SWX…

Economic growth expected to slow

This content was published on Jul 27, 2001 The Business Cycle Research Institute of the Federal Institute of Technology in Zurich said its indicator for June fell to 0.01 points from a revised 0.13 in May. A statement from the Institute on Friday said that the lower reading for the indicator reflected a slight reduction in new orders for the first time in…

Dragons return to Lake Thun

This content was published on Jul 27, 2001 All over the region, shops, museums and transport companies have been gripped by dragon fever. It was the local tourist office that decided to turn the area into a living legend by launching the dragon concept. There are 40 different dragon attractions including a giant dragon boat ferrying passengers across Lake Thun and an unpredictable…

Cisalpino keeps finances on track

This content was published on Jul 27, 2001 The company said in a statement that turnover last year had increased slightly to SFr58.82 million, despite bad weather in January and October which are normally popular travel months. The company runs intercity tilting trains to destinations in Switzerland, Italy and Germany. Cisalpino trains serve Stuttgart-Zurich-Milan, Zurich-Milan-Florence, Geneva-Milan-Venice and Basel-Bern-Milan. Cisalpino, which has its headquarters…

Sulzer sells textile division to Italian group

This content was published on Jul 27, 2001 Under the terms of the contract, all Sulzer Textil business will be transferred to Promatech, which will keep the 1,850 Sulzer Textil staff under their current employment contracts. No financial details of the transaction have been released. The move, subject to approval by the regulatory authorities, will make Promatech and Sulzer Textil the market leader…

Blast brings back memories of Schweizerhalle disaster

This content was published on Jul 26, 2001 The explosion took place in the early hours of Thursday morning. No one was injured, although 21 firefighters suffered from the effects of inhaling poisonous chemicals and acid burns. The company said the blast had released some chemicals but that they were not acutely toxic, and posed no danger. Nevertheless, residents were told to keep…

Serbian kids let off steam in Grindelwald

This content was published on Jul 26, 2001 Their two-week stay is being funded by a Swiss foundation, Swiss Cor, which receives donations from Swiss businesses. The young people will take part in excursions, sports and outdoor games, all part of a hectic two-week schedule designed to take their minds off the traumas in their native country. The activities include trips to the…

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Banking & Fintech

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Growing number of near misses in Swiss airspace

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EC approves Nestlé acquisition of Ralston

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Profits down at Zurich cantonal bank

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Stock Exchange pleased with virt-x launch

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Economic growth expected to slow

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Dragons return to Lake Thun

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Cisalpino keeps finances on track

More

Sulzer sells textile division to Italian group

More

Blast brings back memories of Schweizerhalle disaster

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Serbian kids let off steam in Grindelwald

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