Banking & Fintech

Gateway to Ticino is cradle of Switzerland

This content was published on Mar 16, 2001 In fact the opening of the Alpine pass in the Middle Ages is one of the key events leading to the creation of the Swiss state, and subsequent efforts to secure control over the trade route explain why Ticino is part of Switzerland. “The foundation of Switzerland is related to the Gotthard road,” says Carlo…

Zurich teams up with Scottish bank

This content was published on Mar 16, 2001 Zurich and the Bank of Scotland will each take a 50 per cent stake in the deal, which was announced on Friday. A statement said the joint venture, which is planned to start operating later this year, would offer bank accounts, personal loans, mortgages and credit cards under the Zurich brand. It also plans to…

Corti named new SAirGroup chairman

This content was published on Mar 16, 2001 In a statement on Friday, SAirGroup said the board had come to the unanimous decision that continuity had to be guaranteed and for that reason it had decided to appoint Corti, who is a member of the board, with immediate effect. It said Corti had also been named chief executive officer and would assume operational…

Swisscom retains connection rights

This content was published on Mar 16, 2001 Last October, the telecommunications regulator ordered Swisscom, the country’s largest telecommunications operator, to “unbundle” its final loop connecting subscribers with providers, known as the “last mile”. ComCom also ordered price cuts of up to 63 per cent on leased lines. Swisscom had appealed to Switzerland’s highest court over the ruling, saying it “disputed that interconnection…

Vontobel axes top names over e-banking failure

This content was published on Mar 16, 2001 Vontobel said in a statement on Thursday that those dismissed were chairman of the board, Jörg Fischer, chief financial officer of the Vontobel group, Walter Kaeser, and Hans-Peter Bachmann, head of Bank Vontobel’s corporate finance department. Vontobel has now cut its previously announced net profit for the year 2000 by SFr100 million ($59 million). The…

Micronas issues warning on performance

This content was published on Mar 15, 2001 It made the forecast after releasing solid figures for last year that showed net profit increasing to SFr64.46 million ($38.21 million). Sales rose to SFr490 million. Net income for the current year is expected to come in at between SFr35 and SFr60 million, A statement said that the current business year would be “significantly more…

Swatch results rise to record levels

This content was published on Mar 15, 2001 Sales for 2000 grew by 17,6 per cent to SFr4.26 billion ($2.52 billion), the company said in a statement from its offices in Biel. The results exceeded analysts’ forecasts, which predicted a rise in profits of around 39 per cent. “The driving force behind the growth in the finished watches sector has been provided by…

Swiss blue chips expected to recover some ground

This content was published on Mar 15, 2001 At one point, the SMI was down more than five per cent and fell through the 7,000 mark for the first time in more than a year. The fall was in line with a global rout that saw all major European and Asian markets down. But the markets are bound to remain nervous on Thursday…

Switzerland is important partner for World Food Programme

This content was published on Mar 14, 2001 Bertini thanked Switzerland for its contribution, saying it was not only generous, but also very efficient. “The Swiss are very fast,” she said, “we can call on them at a moment’s notice, and food aid is delivered the following day.” Walter Fust, director of the Swiss Development Agency, said the scale of Switzerland’s commitment to…

Swiss blue chips recover from year lows

This content was published on Mar 14, 2001 At one stage worries about the Japanese banking sector and possible contagion to international banks blended with further declines in technology stocks. This sent a powerful sell signal in what is still a generally uneasy market climate where investors are worrying about recession while looking forward to interest rate cuts. Only shares in SAirGroup and…

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Gateway to Ticino is cradle of Switzerland

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Zurich teams up with Scottish bank

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Corti named new SAirGroup chairman

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Swisscom retains connection rights

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Vontobel axes top names over e-banking failure

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Micronas issues warning on performance

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Swatch results rise to record levels

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Swiss blue chips expected to recover some ground

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Switzerland is important partner for World Food Programme

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Swiss blue chips recover from year lows

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