Banking & Fintech

UN seeks probe into Swiss firm over Iraqi oil deal

This content was published on May 11, 2001 Glencore was owned by the controversial financier Marc Rich, who fled to Switzerland in 1984 to escape a US prison term for tax evasion. He was pardoned by the former US president, Bill Clinton, at the beginning of the year. Rich sold Glencore along with other parts of his holdings to a Russian consortium, Crown…

More funds for Mystery Park

This content was published on May 11, 2001 The company said in a statement on Thursday that the allocation of 541,000 new shares at SFr22 each meant that over 50 per cent of the building costs of the theme park, due to open next year, were now covered. The group is preparing for an official listing on the Swiss Stock Exchange in the…

“Sit-seeing” in Zurich

This content was published on May 11, 2001 The hundreds of new benches are part of the summer event called, “Bench Art Zurich 2001 – Sit-seeing in Zurich”. The newly-created or remodelled benches are the work of sculptors, painters, graphic artists and designers. They are intended to bring a bit of playful colour to the city and provide a welcome place for shoppers…

A strategy for “new business” in Zurich

This content was published on May 11, 2001 Susanne Stern, one of the authors of the report, issued by the Zurich Cantonal Bank, told swissinfo that the main concern voiced in the study is the lack of trained personnel in the information technology sector. “We are still suffering from certain restrictions,” Stern said. “Mainly these are the lack of qualified labour in the…

More growth for Swiss economy, but pace slowing

This content was published on May 10, 2001 KOF, which is part of the Swiss Federal Institute of Technology in Zurich, said that in industry, the pace of growth had been slowing since mid-2000. However, it added that this had been mainly offset by strong domestic demand, with overall capacity use rising to a seasonally adjusted 84.2 per cent. A survey of about…

Swiss love their raclette

This content was published on May 10, 2001 Raclette Suisse, the producer’s association, announced on Thursday that 10,218 tonnes of the cheese were produced in 2000, up six percent over the previous year. Raclette’s share of the domestic market rose more than any other Swiss cheese last year. Raclette is currently the second best selling cheese on the Swiss market, just behind Gruyère,…

Swiss ease meat import restrictions

This content was published on May 10, 2001 The ban on imports of live hoofed animals from the European Union, except Britain and the Netherlands, has been lifted. The measure also applies to veal, game and meat-based products. The federal veterinary office in Bern said that a new study of the foot-and-mouth situation had allowed it to lift many of the border restrictions.…

Troubled Swiss commodities trader to close

This content was published on May 10, 2001 However, Sauerländer said the 123-year-old firm, once one of the world’s top five grains traders, would as expected seek a further six month court protection from creditors as it winds up operations. Sauerländer said there was no other option but to close down Group Andre, adding that about 100 employees remained at the company’s Lausanne…

Consumer confidence down from record level

This content was published on May 10, 2001 The index, based on a poll of 1,100 households, was at the same level as in the second half of 2000. According to SECO, the decrease shows that households are now less optimistic about their financial situation than they were three months ago. Marcus Allenspach, economist at Cantrade Private Banking told swissinfo that he was…

Sales fall at Syngenta

This content was published on May 10, 2001 The company blamed the poor performance over the first quarter on depressed commodity prices, bad weather and a lack of confidence in Europe following a series of farm crises. Syngenta said in its statement on Thursday that strong cost control, coupled with planned progress in realizing synergy projects, has resulted in profit margins at the…

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