Banking & Fintech

Share splitting legislation comes into force

This content was published on May 1, 2001 The legislation brings Switzerland into line with a practice that has long been established in the United States and is increasing in other parts of Europe. It is aimed at improving market liquidity and broadening a company’s shareholder base. Most big companies are planning to change their capital structure in the next few months. The…

Zurich airport dumps “Unique” logo

This content was published on May 1, 2001 As of Tuesday, “Unique Zurich Airport” will revert to its original name of Zurich Airport, although the company, which runs the hub at Kloten, will retain the “Unique” name, according to airport spokesman Peter Gutknecht. The airport in Zurich is in the process of a massive expansion programme. The company plans to create over the…

UBS pulls out of Zurich development project

This content was published on May 1, 2001 The bank said in a statement that a number of preconditions, including obtaining planning permission, could not be fulfilled within the time limit stipulated in the conditional contract. Last May, UBS, Eurogate Zürich and the project’s owner, ARGE Eurogate, signed a conditional sale contract based on a declaration of intent dating from April 2000. Under…

Slowing US economy hits watch exports

This content was published on Apr 30, 2001 The Federation of the Swiss Watch Industry in Biel said exports to other countries, including Japan and Italy, also showed signs of slackening. The Federation said the total value of exports by Swiss watchmakers to all markets fell by 3.3 per cent in March, to SFr789.1 million ($456.13 million). However, the first quarter closed with…

Walter Meier buys US’s Wilton

This content was published on Apr 30, 2001 WMH said in a communiqué on Monday that the acquisition had achieved two strategic objectives in its equipment and tool segment that would accelerate internal growth. It said the machines and machine tools segments would be strengthened and access would be gained to a new sales channel. Financial details of the transaction were not disclosed.…

Swiss lead efforts to remove conditions on development aid

This content was published on Apr 30, 2001 Switzerland is one of the few countries which does not lay down procurement conditions for recipients of development aid. Last week, the world’s richest nations moved a step closer to adopting that principle at a high level meeting of the Organisation for Economic Cooperation and Development (OECD) in Paris. The OECD’s Development Assistance Committee (DAC)…

Switzerland welcomes outcome of conflict diamonds conference

This content was published on Apr 27, 2001 The framework agreement came after three days of talks in Brussels by representatives of diamond producing and importing countries. It is expected to form the basis of a formal treaty to be adopted in Moscow in June, paving the way for diamond certification to begin at the end of the year. Certification is seen as…

Reform of IMF loan system high on agenda at spring meeting

This content was published on Apr 27, 2001 The president of the Swiss National Bank, Jean-Pierre Roth, is also representing Switzerland at the talks. Debate in the International Monetary and Financial Committee focused on ways of simplifying conditions attached to credits from the IMF. The talks are also expected to deal with ways of strengthening the international financial system. Monday’s meeting of the…

The business week in Switzerland

This content was published on Apr 27, 2001 The group’s chairman, Mario Corti, revealed a series of measures at Wednesday’s AGM aimed at restoring confidence in the group, which posted record losses of SFr2.9 billion ($1.7 billion) last year. He unveiled a bank loan of SFr1 billion and said the group would be withdrawing from its loss-making French carriers. He also confirmed that…

All eyes on the future of Swissair Group

This content was published on Apr 27, 2001 Shares gained last week on news of a new SFr1 billion franc loan and the imminent withdrawal from two loss-making French airlines, but there is a long way to go before the share price – which has dropped 60 per cent this year – begins to climb back to a respectable level. Analysts say the…

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Banking & Fintech

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Share splitting legislation comes into force

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Zurich airport dumps “Unique” logo

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UBS pulls out of Zurich development project

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Slowing US economy hits watch exports

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Walter Meier buys US’s Wilton

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Swiss lead efforts to remove conditions on development aid

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Switzerland welcomes outcome of conflict diamonds conference

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Reform of IMF loan system high on agenda at spring meeting

More

The business week in Switzerland

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All eyes on the future of Swissair Group

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