Banking & Fintech

Holcim set to take control of Indonesian cement maker

This content was published on May 23, 2001 PT Semen Cibinong, which is Indonesia’s third largest cement maker, said Holcim was likely to end up with three quarters of its shares. “After the completion of the whole debt restructuring, Holcim may end up with 75 per cent of the company… because at the end of the restructuring, Holcim will buy all Tirtamas Majutama’s…

First quarter loss for Think Tools

This content was published on May 23, 2001 The company announced on Wednesday a net loss of SFr4.2 million ($2.38 million) in the first quarter of 2001 compared to a profit of SFr1.4 million in the same period last year. “Think Tools does not expect to return to profitability in the second quarter of 2001. Currently sales are not certain to reach last…

Distefora posts big losses

This content was published on May 23, 2001 The company’s operating loss came in at SFr143.1 million ($80.6 million)in 2000, compared to a loss of SFr24.1 million in 1999. The consolidated net loss was SFr31.2 million after a profit of SFr8.2 million in the previous year. Distefora said in a statement that its total asset value had increased to SFr559.2 million from SFr253.5…

Switzerland signs treaty banning pesticides

This content was published on May 23, 2001 “Switzerland understands full well that the majority of environmental problems cannot be addressed by individual countries so we need to have international cooperation to address the issue of toxic chemicals,” Beat Nobbs, head of the delegation in Sweden, told swissinfo. The hit-list includes toxic chemicals such as DDT, PCBs, dioxins and furans, as well as…

Swiss propose withholding tax on residents’ income of EU citizens

This content was published on May 22, 2001 The EU finance commissioner, Frits Bolkestein, described the proposal as a big step forward. He made the statement in Bern on Tuesday, following talks with Villiger. Bolkestein said Switzerland and the EU shared a common interest in cracking down on citizens trying to dodge taxes by stashing funds away in offshore accounts, including Switzerland. He…

Bartlett completes move from Zurich

This content was published on May 22, 2001 The 28-year-old international has been on loan to the London club since November and Charlton have now exercised an option to sign him after the loan period. Bartlett’s first five months in the English Premiership have been highly successful. He began his Charlton career with two goals on his home debut against Manchester United, and…

Swiss tourism enjoys new boom

This content was published on May 22, 2001 The report, released by the state secretariat for economic affairs, showed a five per cent rise in overnight stays in 2000 – a rise not seen since the early 1990s. The tourism trade was badly hit a decade ago by the high value of the Swiss franc, and a general perception that tourism resorts were…

Room for rate cuts in Switzerland

This content was published on May 22, 2001 The IMF forecast, released on Tuesday,said that Switzerland’s economy would grow by just two per cent in 2001, after logging a gain of 3.4 per cent in 2000. However, the IMF said that even this reduced growth forecast could be tempered because it “viewed the growth projection as subject to downside risks from the weakening…

Winterthur moves deeper into Belgium

This content was published on May 22, 2001 Winterthur, which has been active in Belgium for more than 120 years, said the latest move would “strengthen its position in the Belgian non-life insurance market”, ranking it fifth in terms of gross written premiums. Non-life premiums are expected to increase from €341 million to over €500 million. In 2000 the group’s Winterthur-Europe Assurances unit…

Bovine battle to decide queen of Alps

This content was published on May 22, 2001 After a series of battles among the cows belonging to villages across canton Valais, the winners will compete at the cantonal finals in Sion to become queen. The cow fights are always a top draw due to the prestige the winner bestows on its owner and village. The organisers of the Sion event are planning…

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Banking & Fintech

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Holcim set to take control of Indonesian cement maker

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First quarter loss for Think Tools

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Distefora posts big losses

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Switzerland signs treaty banning pesticides

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Swiss propose withholding tax on residents’ income of EU citizens

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Bartlett completes move from Zurich

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Swiss tourism enjoys new boom

More

Room for rate cuts in Switzerland

More

Winterthur moves deeper into Belgium

More

Bovine battle to decide queen of Alps

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