Banking & Fintech

UBS starts new share buy back programme

This content was published on Mar 5, 2001 Under the programme, which kicked off on Monday, UBS is repurchasing the shares via a second trading line on the SWX Swiss Exchange. The trading line is available from March 5, 2001 to March 5, 2002, and will be exclusively for UBS’s buy back. The programme aims to return excess capital to shareholders. Shareholders will…

Celebrating the catch of the year

This content was published on Mar 5, 2001 The festival, the “Sagra del Pesce”, is always held on the second Sunday in March (March 11 this year), when hobby fishermen set out in boats from the village of Burbaglio (near Locarno in canton Ticino) at daybreak, or cast their lines from shore. Even though the entrants are divided into different categories, all try…

Lausanne University agrees to settle “biopiracy” case

This content was published on Mar 5, 2001 The decision to renegotiate the patent came at a highly charged meeting in Zimbabwe between the Universities of Zimbabwe and Lausanne, as well as the Environment Ministry and the Zimbabwe Traditional Healers Association. Participants agreed that the patent held by the University of Lausanne, as well as the current agreement on access and benefit sharing,…

Swiss reject new speed limit for built-up areas

This content was published on Mar 4, 2001 The “Roads for all” initiative called for the introduction of a general speed limit of 30 km/h for built-up areas to be introduced within a year. The current limit is 50 km/h. The Swiss Association for Transport and Environment, which launched the initiative, claimed the speed reduction would not only increase safety but would also…

Business Outlook

This content was published on Mar 4, 2001 The Geneva-based biotechnology company, Serono, comes out with its figures on Tuesday. Analysts will be keen to see how the economic slowdown in the US has affected its results. The company is the world’s leading manufacturer of fertility drugs and is also well known for its treatments against multiple sclerosis and wasting diseases linked to…

Swiss money market strong in 2000

This content was published on Mar 3, 2001 Despite continuing controversy over Swiss banking secrecy, analysts say Swiss financial markets are still attractive to investors. Year-end results for 2000 showed that deposits and trusts held by Swiss banks amounted to SFr 3.954 trillion ($2.4 trillion). That’s an 8 per cent increase over the same period in 1999. The report also revealed that foreign…

Zurich cantonal bank joins the big league

This content was published on Mar 2, 2001 The ZKB had a very impressive millennium year, revealing its best set of results since it was founded 130 years ago. Gross profit jumped 12 per cent to SFr751 million ($457 million), with net profit up 45 per cent. The bank, which is more than double the size of its nearest cantonal rival, said the…

The business week in Switzerland

This content was published on Mar 2, 2001 Almost 400 workers are to lose their jobs following Thursday’s announcement that Europe’s largest toy-maker, Lego, is to close its two factories in Baar. Management blamed the failure of a recent reorganisation to boost sales and strong competition from companies making more modern toys and games. Swiss Lego production is to be concentrated in the…

Swisscom selling off property interests

This content was published on Mar 2, 2001 Most of the buildings are located in prime city areas across the country. Swiss Prime Site, which announced its merger with Feldschlösschen-Hürlimann Holding a few days ago, is putting up the lion’s share of the asking price with SFr706 million. By selling its property portfolio, Swisscom hopes to concentrate on its core activities. Negotiations are…

Construction market for housing remains sluggish

This content was published on Mar 2, 2001 Figures released on Friday showed housing construction weaker across most parts of the country. One exception was in communities with a population of less than 2,000 where 20 per cent more apartments were built. In the fourth quarter of last year, the rate of new apartments being constructed in the country’s five biggest cities fell…

Banking & Fintech

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Banking & Fintech

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UBS starts new share buy back programme

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Celebrating the catch of the year

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Lausanne University agrees to settle “biopiracy” case

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Swiss reject new speed limit for built-up areas

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Business Outlook

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Swiss money market strong in 2000

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Zurich cantonal bank joins the big league

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The business week in Switzerland

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Swisscom selling off property interests

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Construction market for housing remains sluggish

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