Banking & Fintech

Expo 2000 causes financial worries at Expo.02

This content was published on Dec 3, 2000 Banks have become more reluctant to agree to loans with the steering committee while the lack of sponsor interest has resulted in the need for more capital. The management is currently negotiating a loan of SFr140 million, but the steering committee has admitted that they actually need SFr200 million. One Swiss Sunday newspaper suggested the…

New census draws criticism over cost

This content was published on Dec 3, 2000 Most Swiss residents are likely to find that their census forms have already been partly filled out by the federal statistics office, with information supplied by local authorities. But Werner Haug, who is organising the census, says the information is not complete and that the office is working on improving the situation. “We are investing…

Business Outlook

This content was published on Dec 3, 2000 Until then a mood of uncertainty is likely prevail over the equity and currency markets. If the Swiss National Bank fails to increase interest rates on Friday, the franc will continue to languish against the US dollar. The markets will also be focusing in the auction of four third-generation UMTS mobile telecommunications licences. The auction…

The week in business

This content was published on Dec 2, 2000 On Monday the Swiss Bankers’ Association named Urs Roth, currently head of legal affairs at Switzerland’s largest bank, UBS, as its new chief executive. The 53-year old lawyer will replace Niklaus Blattner, who was recently elected to the board of the Swiss National Bank. Roth’s appointment came as something of a surprise as the Swiss…

Air fares to rise at Swiss airlines

This content was published on Dec 1, 2000 The company said in a statement on Friday that the increase would affect the upper segment of the fares on international flights, and was agreed to by all scheduled airlines, during an International Air Transport Association (IATA) fare conference held in Geneva in November. Swisscargo, the air cargo unit of the SAirGroup, raised its prices…

Crossair chief wins award

This content was published on Dec 1, 2000 Suter was awarded the “Lifetime Achievement Award” at a ceremony in London on Thursday for his work in the regional airline industry. The magazine said he was chosen for the award by its readers because he constantly set high standards, both for Crossair and the airline industry in general. Suter has already been elected as…

UBS sells property unit to foreign buyer

This content was published on Dec 1, 2000 The buyer is the investment fund, Whitehall, which is owned by the United States broker, Goldman Sachs. No financial details were released, but UBS said it would lighten its balance and free up capital, as it acquires US-based broker, Paine Webber, in a cash and share deal worth $11.8 billion. Founded in 1999 with its…

Zellweger sets up e-market place

This content was published on Dec 1, 2000 The platform is being created together with Ariba, a US-based developer of business-to-business (B2B) platforms. Also taking a stake in the new B2B platform is Switzerland’s Gherzi Textil and Germany’s Intex Consulting. The new Internet based marketplace, known as “Textilio.com”, will be the first fully integrated on-line trading market for the global textile industry. Zellweger…

Swiss firm to recycle Senegalese rubbish

This content was published on Dec 1, 2000 The Alcyon group, based in canton Vaud, won the contract to produce fertiliser and compost from some 390,000 tonnes of household waste collected annually in Dakar. “A provisional contract has been signed between the Swiss company and Senegal to make use of rubbish collected in the capital,” said an official at the West African country’s…

UMTS auction to go ahead on Wednesday

This content was published on Dec 1, 2000 With just four companies bidding for the four licences, the auction is unlikely to yield anything close to the billions of francs in revenue that the federal government was hoping for. The Federal Communications Commission announced on Thursday that the opening bids would remain at a set minimum of SFr50 million ($29 million) per licence.…

Banking & Fintech

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Banking & Fintech

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Expo 2000 causes financial worries at Expo.02

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New census draws criticism over cost

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Business Outlook

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The week in business

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Air fares to rise at Swiss airlines

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Crossair chief wins award

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UBS sells property unit to foreign buyer

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Zellweger sets up e-market place

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Swiss firm to recycle Senegalese rubbish

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UMTS auction to go ahead on Wednesday

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