Banking & Fintech

Cathay Pacific pulls out of Zurich-Hong Kong route

This content was published on Apr 5, 2001 The decision will take effect from the beginning of May and will last until at least the end of the year. A spokesperson for Cathay Pacific in Zurich said the route was not profitable enough to continue a four-times weekly service. The decision to suspend the airline’s Swiss operations would be reassessed in time for…

Row grows over Swiss handling of foot-and-mouth disease

This content was published on Apr 5, 2001 Despite growing fears among farmers that the disease may infiltrate Swiss borders, the government has refused to launch a mass vaccination programme for livestock. “It’s just not practical to vaccinate en masse,” said Christian Gorot, head of animal diseases at the Federal Veterinary Office. “We would need to vaccinate at least 3.6 million animals and…

Crossair forecasts return to profit

This content was published on Apr 5, 2001 “Crossair has made a good start to 2001,” the airline said in a statement released at its annual earnings news conference on Thursday. It added: “The financial result to date is already above budget, which is based on a profitable year.” Between January and March the airline carried 690,265 passengers, an increase of nine per…

Say it with flowers from Africa

This content was published on Apr 5, 2001 The Basel-based organisation is lending its fair trade label to roses grown on farms in Kenya and Zimbabwe. A premium imposed on the Swiss retail price will be ploughed back into the communities to improve the lives of the people there. The 12 farms involved in the project have signed contracts with the Foundation promising…

Swiss lead the world in train travel

This content was published on Apr 5, 2001 The Swiss make a train journey 41 times a year on average, an achievement surpassed only by the Japanese who retain their world number one spot with an average of 70 journeys. The figures, released by the public transport information service on Thursday, show that the Swiss leave other European travellers way behind when it…

Profit slips at Publigroupe

This content was published on Apr 5, 2001 The Lausanne-based group was nevertheless upbeat about future prospects. It said the figures had exceeded the company’s forecasts issued in February, adding that the results at business units PubliPresse, Publicitas, Promotion Network and PubliDirect were better than expected. Publigroupe, which is Switzerland’s biggest seller of advertising, also announced that it would leave its dividend for…

SIG boosts drinks packaging business

This content was published on Apr 5, 2001 SIG is buying SASIB Wet for SFr90 million ($53.3 million) from Italy’s CIR group, which is a holding company of Italian tycoon Carlo de Benedetti. SASIB Wet, with an annual turnover of SFr742 million and a staff of 2,200, is among the leading suppliers of high-speed filling machines for drinks and is operated through the…

Sulzer allows management buyout of SLM

This content was published on Apr 5, 2001 The new company, called Winpro, will be an independent supplier to the rolling stock and machine building industry. It will keep its headquarters in Winterthur and take on all of the existing 135 Sulzer employees. The Winpro divestiture fits in with Sulzer’s strategy of focusing on selected core businesses. Sulzer had already announced in August…

Record results at Baloise

This content was published on Apr 5, 2001 Baloise, which is Switzerland’s fourth largest insurance group, said in a statement that it expected to see higher than average earnings this year: “We are sticking to our aim of achieving a double-digit percentage increase in profit every year.” The company said it proposed paying an unchanged dividend of SFr24 ($14), and plans an additional…

SAirGroup shares recover a little ground

This content was published on Apr 4, 2001 A spokesman for SAirGroup, which on Monday reported a massive SFr2.9 billion ($1.71 billion) loss, said talks with a consortium of four banks were ongoing and the results of these discussions would be announced “as soon as possible”. Shares in SAirGroup climbed 8.2 per cent higher to SFr151.50 at one stage on Wednesday, but closed…

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Banking & Fintech

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Cathay Pacific pulls out of Zurich-Hong Kong route

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Row grows over Swiss handling of foot-and-mouth disease

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Crossair forecasts return to profit

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Say it with flowers from Africa

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Swiss lead the world in train travel

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Profit slips at Publigroupe

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SIG boosts drinks packaging business

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Sulzer allows management buyout of SLM

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Record results at Baloise

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SAirGroup shares recover a little ground

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