Banking & Fintech

Sabena saved from imminent bankruptcy

This content was published on Feb 20, 2001 The airline’s two shareholders approved the re-capitalisation plan on Monday, after Sabena’s management and pilots agreed to wear cost-cutting measures worth 52 million euros, including the loss of 700 jobs. Sabena had said that without the cash injection it would have run out of money by the end of February. A final decision on the…

Enquiry launched into Davos hacking incident

This content was published on Feb 19, 2001 Hackers broke into files stored on the WEF computer, and downloaded confidential information concerning 1,400 forum members. As part of its investigations, the court has asked the Swiss German newspaper, “SonntagsZeitung”, to hand over as evidence a copy of the CD rom containing information downloaded by the hackers. The CD was handed over to the…

Swiss-Italian tunnel ready to take lorry freight in June

This content was published on Feb 19, 2001 Leuenberger made the announcement after a meeting in Milan with his Italian counterpart, Pier Luigi Bersani. During the talks Bersani promised Italy would finish its portion of the rail link by the end of May. The tunnel, originally scheduled to open at the beginning of the year, will now open on June 11. Despite the…

Swiss experts present views on youth drinking

This content was published on Feb 19, 2001 Organised by the Geneva-based World Health Organisation (WHO), the three-day meeting brings together delegates from numerous European member nations. The WHO says the issue of increasing alcohol abuse by youngsters is the most alarming in Europe. The number of Swiss teenagers and people in their early 20s who indulge in “binge drinking” (consuming excessive amounts…

Swiss ice hockey league orders audit of clubs

This content was published on Feb 19, 2001 The consultancy firm, PricewaterhouseCoopers (PWC), has been asked to examine the accounting procedures of all 23 A and B division teams which make up the league. The audit could have serious implications for next year’s championship, because clubs that fail to meet the standards of the audit risk not having their licences renewed. Representatives of…

ABB plans share split

This content was published on Feb 19, 2001 The changes will be proposed to investors at the group’s annual general meeting on March 20. If approved, the move would reduce the par value of ABB’s shares to SFr2.5 from SFr10. ABB’s shares suffered sharp losses last week after the group revealed lower-than-expected results for 2000. This latest move by ABB is in line…

Rieter set sights on German machinery firm

This content was published on Feb 19, 2001 Rieter, which operates in the textile machinery and automotive supply sector, said in a statement on Monday that the operations in which it was interested generated annual sales of around SFr200 million ($119 million). Rieter says Süssen is a market leader in the development of spinning technology for the textile industry and is one of…

Women only in Lady’s First hotel

This content was published on Feb 19, 2001 A picture hanging over the sofa in the lobby shows a sinister looking man ringing a doorbell. Although he could symbolise an unwanted man trying to gain entry to the hotel, the director, Yael Schneider, sees the painting differently. “When we first saw it, we thought it was so funny because the man looks like…

Decisive week for SAirGroup and Sabena

This content was published on Feb 19, 2001 Last-minute brinkmanship will continue this week as the SAirGroup and the Belgian government meet to consider a capital injection programme aimed at saving the airline whose losses are mounting. Under the plan, the SAirGroup and the Belgian government are to invest SFr386 million ($239 million) into the carrier. But the investment is conditional on cost-cutting…

Lugging a log through Appenzell

This content was published on Feb 19, 2001 The custom goes back about 200 years, and is believed to have originated from the tradition whereby woodcutters would receive a log as a gift from the landholder at the end of the logging season. The best-known procession is held in Urnäsch every two years on the Monday (February 26) before Ash Wednesday. Boys dressed…

Banking & Fintech

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Banking & Fintech

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Sabena saved from imminent bankruptcy

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Enquiry launched into Davos hacking incident

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Swiss-Italian tunnel ready to take lorry freight in June

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Swiss experts present views on youth drinking

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Swiss ice hockey league orders audit of clubs

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ABB plans share split

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Rieter set sights on German machinery firm

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Women only in Lady’s First hotel

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Decisive week for SAirGroup and Sabena

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Lugging a log through Appenzell

Popular Stories

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