Banking & Fintech

Sun seeking holiday-goers face long delays

This content was published on Jul 7, 2001 Frustrated holiday-makers making the journey south to Italy for the summer holidays were advised to avoid the A2 motorway through the tunnel by the Swiss Touring Club. On Saturday, traffic came to a halt between Erstfeld and Göschenen, both situated in Canton Uri. It was a similar story at the Chiasso border crossing between Switzerland…

Rivella quenches Swiss thirst

This content was published on Jul 6, 2001 The story of Rivella began more than 50 years ago in the town of Zug, when a doctor’s widow offered to sell the formula for a whey-based drink. The idea was taken up by Robert Barth and after much testing and tasting, the drink now known as Rivella emerged. In 1952, Barth began producing his…

Government launches campaign to protect the wolf

This content was published on Jul 6, 2001 Today the wolf is a protected species and the government says it is obliged, under international law, to ensure its safety. “Switzerland has to follow international policies such as the Convention of Bern, and as the wolf is protected by law, we have to protect them,” Willy Geiger, deputy director of the Federal Agency for…

Sabena’s woes dogged Swiss business week

This content was published on Jul 6, 2001 After an ever-increasing war of words, Sabena finally decided on Thursday to launch its own legal action against the Swissair Group. The aviation conglomerate, itself in financial difficulties, has made it clear it does not want to boost its minority stake of 49.5 per cent in Sabena to 85 per cent, as stipulated under the…

Couchepin upbeat about Swiss economic prospects

This content was published on Jul 6, 2001 However, he warned that halfway into the current legislative period, Switzerland must make the best use of its strong economic performance to set new objectives. Couchepin, who became economics minister three years ago, said that priorities included the partial revision of the competition law and the long-term continuation of agricultural reform. In his interim statement…

Sulzer Medica looks set to dominate business headlines

This content was published on Jul 6, 2001 No doubt the spin off of the Medica unit will dominate the market’s attention at the start of the week. However, Medica’s shareholders have to be convinced that the company is dealing correctly with the recall by its orthopaedics division of faulty hip and knee implants. Only last week Sulzer Medica, which is 74 per…

Swiss food industry benefits from increase in consumption

This content was published on Jul 6, 2001 Chocolate manufacturers saw their sales grow by more than five per cent last year, according to the Federation for the Swiss Food Industry. Ice-cream producers also had a good year with sales up 6.4 per cent. More than 80 per cent of the Federation’s members posted an increase in turnover, which is being put down…

Economists dismiss new fall in Swiss unemployment rate

This content was published on Jul 6, 2001 The number of registered unemployed fell to 59,176 in June, down from May’s figure of 61,097. But economic analysts say the figures, which are not seasonally adjusted, are not a true reflection of the jobs’ market and warned that the underlying trend was for an increase in unemployment. “On a seasonally adjusted basis, the positive…

Sulzer Medica spin-off clears final hurdle

This content was published on Jul 6, 2001 The two-month legal deadline for creditors to report claims passed on June 26. With no claims filed, Sulzer’s capital reduction was entered into the commercial registry on Thursday. Sulzer is granting Sulzer Medica its independence next Tuesday by giving investors two Medica shares for two Sulzer shares. Sulzer currently has a 76 per cent stake…

Positive first six months for Presence Switzerland

This content was published on Jul 5, 2001 At a press conference in Bern on Thursday, the organisation looked back at its achievements and set out its strategy for the future. Officials from the organisation were upbeat saying the past six months had been “positive”. Highlights of the half-year programme included the Swiss balloonist, Bertrand Piccard’s, trip to South America to promote his…

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