Banking & Fintech

Germany threatens to fine Swiss pilots overflying the country

This content was published on Mar 25, 2001 On that date Germany is expected to introduce a decree replacing an earlier agreement with Switzerland, which in recent years has permitted up to 140,000 flights annually over southern Germany. Under the new legislation, the limit for Swiss flights will be reduced to 80,000 a year. Germany announced last May that it was ending the…

Geneva parliament initiates legal action against SAirGroup

This content was published on Mar 24, 2001 The Geneva government owns 311,695 shares in SAirGroup. As the group’s problems have increased, its share value has fallen from SFr400 ($233) a few weeks ago to around half that. Parliamentarians said SAirGroup officials had given false assurances about the future of the company, which is expected to reveal losses of SFr2.5-2.7 billion last year.…

Switzerland sells itself as high-tech land at CeBIT in Hannover

This content was published on Mar 23, 2001 On Monday, the Swiss economics minister, Pascal Couchepin, will be in Hannover to lead the offensive with an address entitled: “Switzerland – from Heidi-Land to High Tech-Land”. His speech will highlight the high-tech achievements of some of Switzerland’s leading companies, as well as the various factors which make Switzerland an attractive place for foreign firms…

Business Outlook

This content was published on Mar 23, 2001 Equities can generally expect a bumpy ride as traders continue to look gauge the extent of the economic slowdown in the United States. Last week, Wall Street led the world’s bourses into sharply negative territory, following a severe loss of business confidence. Tuesday sees the release of the first major corporate results in Switzerland as…

“Telecentres” seen as solution to digital divide

This content was published on Mar 23, 2001 Development agencies meeting in Bern this week heard that telecentres had achieved significant progress in bringing Internet access to poorer countries. Stella Hughes of the United Nations educational agency, Unesco, said that with the help of the Swiss government’s Development Agency (SDC), Unesco was running multimedia facilities in Africa, Asia and Latin America, where basic…

Pension funds urged to put influence to good use

This content was published on Mar 23, 2001 The ethical pension fund, Ethos, has just published guidelines on the exercise of voting rights and a list of codes on best practice in corporate governance. Ethos came into being four years ago when two pension funds in canton Geneva expressed concerns about companies laying off workers while financial markets were booming. The Civil Servants’…

Uncorking Swiss wines in Morges

This content was published on Mar 23, 2001 The organisers of the fair have decided to showcase the variety and high quality of Swiss wines this year to mark the 30th anniversary of the founding of the Association of Swiss Winegrowers and Merchants. Since 1971, the association has supported small winegrowers who are committed to preserving quality in the face of the trend…

Markets remain edgy despite interest rate cut

This content was published on Mar 23, 2001 Shares in Switzerland seesawed their way through the week, diving more than five per cent on Thursday in a Europe-wide sell-off, as continuing financial jitters in the US dragged down global markets. News that the Swiss National Bank had cut its target range for interest rates by 25 basis points to 2.75 to 3.75 per…

Profits soar at EMS Chemie

This content was published on Mar 23, 2001 The canton Zurich-based company had been expecting weaker growth over 2000, but attributes the better than expected performance to the successful launch of new products. The company also saw a significant improvement in its engineering business in Asia, which boosted sales. EMS Chemie, which is run by the right-wing Swiss politician Christoph Blocher, said it…

Mobutu’s Swiss villa to be put up for auction

This content was published on Mar 23, 2001 The house in Savigny, canton Vaud, was seized along with other assets belonging to Mobutu in 1997. The former dictator is suspected of plundering millions from the former Zaire before he was ousted in a coup. The Swiss authorities have now ordered the local district receivership office in canton Vaud to organise the sale of…

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Banking & Fintech

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Germany threatens to fine Swiss pilots overflying the country

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Geneva parliament initiates legal action against SAirGroup

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Switzerland sells itself as high-tech land at CeBIT in Hannover

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Business Outlook

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“Telecentres” seen as solution to digital divide

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Pension funds urged to put influence to good use

More

Uncorking Swiss wines in Morges

More

Markets remain edgy despite interest rate cut

More

Profits soar at EMS Chemie

More

Mobutu’s Swiss villa to be put up for auction

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