Banking & Fintech

Swiss financial experts welcome Federal Reserve interest rate cut

This content was published on Jan 4, 2001 The Swiss markets backed this positive analysis, with the Zurich Swiss Exchange’s SMI closing on Thursday down just 2.1 points at 8116.8, a drop of only 0.03 per cent on Wednesday’s closing figure. The chief economist at UBS Warburg, Klaus Wellershoff, told swissinfo on Thursday that the Federal Reserve decision clearly demonstrated concern about the…

Swiss National Bank profits down by 60 per cent

This content was published on Jan 4, 2001 Whereas they brought profits of SFr4.1 billion in 1999, currency fluctuations led to a loss of SFr1.1 billion in 2000. A spokesman for the institution said the sharp rise in the value of the dollar against the franc was the main reason for the drop. Other currencies in which the bank holds reserves also fell…

Boom for Basel’s cross-border airport

This content was published on Jan 4, 2001 Just under 4 million people used the airport in 2000, an increase of five per cent on the previous year. However, that marked a considerable slowdown in the airport’s growth, after an unprecedented 18 per cent increase in 1999. The airport’s management said that the end of the Basel-New York service explained the lower 2000…

Emmi expands its catering operations

This content was published on Jan 4, 2001 A statement from Emmi said that it had acquired 100 per cent of Burra shares, strengthening its catering position in and around Zurich. No financial details of the transaction have been made public. Burra, which has an annual turnover of SFr33 million, ($20.5 million) is to remain independent, with management and staff unchanged. Emmi has…

PMR telecom network fails to attract bidders

This content was published on Jan 4, 2001 PMR is exclusively reserved for transport companies, taxis and other private services but not the public. The Federal Communications Office in Biel said it had received no applications by the December 22 deadline. The lack of serious interest follows last month’s failure of the auction for third generation telephone UMTS licences, which fetched SFr205 million…

Valora makes first sales of Slumberland group

This content was published on Jan 4, 2001 The decision to sell the entire Slumberland group was taken by Valora in a move to concentrate on distribution and small area retailing. A statement on Thursday said that the Femira and Doerfert companies in Germany were the subject of a management buy-out with effect from December 31, 2000. Negotiations for the sale of the…

Swissport strengthens market position

This content was published on Jan 3, 2001 Along with Swissport Executive, the company is entering the fast-growing market of business and private aircraft handling. Swissport Executive, which is a joint venture with the United States-based Universal Weather and Aviation, is to begin operations in France in February. A statement from Zurich said Swissport is also to expand its representation in Asia, having…

Banking Commission examines e-banking

This content was published on Jan 3, 2001 The Commission, based in Bern, is the watchdog body of the Swiss financial services industry. In an interview with the Swiss news agency, the Commission’s deputy director, Andreas Bühlmann, said that a working group had been set up and had examined a number of problem areas related to e-banking. The group has, in particular, looked…

Zurich Airport bids to build Bangalore Airport

This content was published on Jan 3, 2001 It is one of two remaining bidders to help build and operate a new airport in the southern Indian city of Bangalore. As part of a consortium, Unique Zurich Airport is leading the challenge to win the $300 million (SFR492 million) contract in Bangalore, often referred to as the Silicon Valley of Asia. The city,…

Nestlé doing fine in Dubai

This content was published on Jan 3, 2001 The multinational, based in the Swiss town of Vevey, has been operational in the Middle East for more than 60 years, but its regional headquarters has had a chequered history. Initially based in the Lebanese capital, Beirut, in the 1950s, Nestlé was forced to move its regional centre to Kuwait at the start of the…

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Banking & Fintech

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Swiss financial experts welcome Federal Reserve interest rate cut

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Swiss National Bank profits down by 60 per cent

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Boom for Basel’s cross-border airport

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Emmi expands its catering operations

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PMR telecom network fails to attract bidders

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Valora makes first sales of Slumberland group

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Swissport strengthens market position

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Banking Commission examines e-banking

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Zurich Airport bids to build Bangalore Airport

More

Nestlé doing fine in Dubai

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