Banking & Fintech

SAirGroup gives green light to Sabena recapitalisation plan

This content was published on Feb 23, 2001 In accepting the plan, SAirGroup has signalled its readiness to provide Sabena with an urgently needed cash injection of €150 million. In total, the airline needs €250 million (SFr380 million) to stay in the air, with the shortfall being met by the Belgian government. SAirGroup owns 49.5 per cent of Sabena, while the Belgian government…

Swiss urge farmers in developing world to turn organic

This content was published on Feb 22, 2001 Sippo brought together agricultural economists, organic farming specialists, and representatives from the big Swiss retailers such as Migros and Coop to look at the potential for importing more organic food from developing worlds. “The fact is there is just not enough organic produce to go round,” said Markus Stern, director of Sippo, “and we’re not…

National exhibition suffers another financial blow

This content was published on Feb 22, 2001 SAirGroup is pulling out of a SFr6 million ($3.5 million) commitment to one of the projects in Yverdon. A spokesman for the national exhibition described the move as “an insult to Expo 02, the government and the Swiss people”. The spokesman said it was “absolutely scandalous” to be treated in such a manner, as the…

Green group steps up pressure to move freight from road to rail

This content was published on Feb 22, 2001 At a press conference on Thursday, members of the Alpine Initiative criticised the government for easing of weight limits for trucks at the beginning of the year, which has led to an increase in road traffic. The amount of freight carried on the railways has also increased, but still lags far behind road transport. It…

Anything goes on the streets of Lucerne

This content was published on Feb 22, 2001 Throughout the carnival, dissonant brass bands crowd into the narrow alleys of the old town. There’s dancing and plenty of food and drink. Lucerne’s celebration is one of Switzerland’s most traditional, but at the same time, possibly the most anarchic. Fat Thursday is known as the day of honour for brother Fritschi and his kin.…

Railway order to save jobs at ADtranz

This content was published on Feb 22, 2001 The Federal Railways is expected to order 70 Inter City double-deck passenger coaches worth SFr200 million ($118.34 million), according to a report in Thursday’s “Berner Zeitung” newspaper. The jobs had been at risk because of the 1999 decision by ADtranz to close production at its Swiss plants at Pratteln, near Basel, and Oerlikon, near Zurich.…

Engineering exports enjoy strong growth

This content was published on Feb 22, 2001 In a statement on Thursday, the industries’ umbrella organisation, Swissmem, said the “exceptionally positive” performance had been achieved against a background of robust domestic demand and strong world economic growth. It said sales overall had climbed by 11 per cent thanks largely to strong investment spending by customers, particularly in the first half of last…

UBS defies market blues with huge rise in profits

This content was published on Feb 22, 2001 In a statement, UBS said the strong performance reflected the group’s increasingly distinct positioning and the quality of its earnings across varied market conditions. Adjusted for significant financial events, net profit was SFr8.132 billion, representing a year-on-year growth of 74 per cent. In a difficult year for the equity markets, UBS’s share price rose 23…

Switzerland joins global fight against alcoholism

This content was published on Feb 21, 2001 The announcement came after the publication of new figures, which indicate that more than 55,000 young Europeans die every year from the effects of alcohol. In a joint statement at the end of a three-day conference in Stockholm, the 51 attending nations vowed to step up protection of young people who are most at risk…

UBS shares slide amid worries over fourth quarter results

This content was published on Feb 21, 2001 The bank’s shares closed at SFr216. Concerns that UBS might reveal lower than expected figures also weighed on the share price of its main Swiss competitor, Credit Suisse, which ended the day down 3.2 per cent. Analysts are set to scrutinise the UBS numbers to see if restructuring and acquisitions at the world’s largest wealth…

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Banking & Fintech

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SAirGroup gives green light to Sabena recapitalisation plan

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Swiss urge farmers in developing world to turn organic

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National exhibition suffers another financial blow

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Green group steps up pressure to move freight from road to rail

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Anything goes on the streets of Lucerne

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Railway order to save jobs at ADtranz

More

Engineering exports enjoy strong growth

More

UBS defies market blues with huge rise in profits

More

Switzerland joins global fight against alcoholism

More

UBS shares slide amid worries over fourth quarter results

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