Banking & Fintech

Swiss exports reach three-year high

This content was published on Oct 24, 2000 Domestic demand has stimulated imports, while exports have shown their best performance for three years. The Finance Ministry on Tuesday released figures showing that nominal imports rose by 13.2 per cent (real 6.9 per cent) during the nine months to SFr93.93 billion ($52.18 billion). Exports increased by 12.4 per cent (real 8.4 per cent) to…

Clariant hails good result as sign of better things to come

This content was published on Oct 24, 2000 Clariant, based at Muttenz near Basel, said in a statement that it expected to maintain business momentum despite the usual slowdown at the end of the year. The company attributed the positive figures to better product innovation and the greater focus on marketing and services. It added that results would be lifted by the improved…

PaineWebber shareholders endorse UBS takeover

This content was published on Oct 24, 2000 In a statement on Tuesday, UBS said its $10.8 billion (SFr19.33 billion) merger with PaineWebber should take effect in early November, following the completion of all necessary regulatory approvals. UBS said it would publish preliminary third-quarter figures on Thursday, a month earlier than previously announced. It explained that this was to ensure maximum transparency and…

Search goes on in Gondo

This content was published on Oct 24, 2000 The search is now concentrating on the lower part of the village, near the Diveria River. The rescuers say work has been difficult because of the large amount of mud and rocks in the area. Crews have also been clearing away the wreckage as well as the remains of the mudslide. Their aim is to…

Swisscom shares on the rise after reports of impending bidding war

This content was published on Oct 23, 2000 Shares originally rose five per cent when the market opened following the report in the German magazine “Der Spiegel”. At the end of the day’s trading, Swisscom shares had gained SFr11, reaching a closing price SFr409. “Der Spiegel” says Vodafone has made the better offer so far. Swisscom, which was partly privatised two years ago,…

Spain to ratify EU accords with Switzerland this year

This content was published on Oct 23, 2000 “This issue raises no problems,” said Couchepin, after holding talks with the Spanish secretary of state for European affairs, Ramon de Miguel, during a two-day visit to Spain. Only one country, Austria, has so far ratified the accords, but all the other EU states are expected to follow suit by the middle of next year.…

Government clings to banking secrecy in face of mounting pressure

This content was published on Oct 23, 2000 “There’s no chance of Switzerland being forced to abandon this principle, at least as long as we’re cooperating in an efficient way to solve the real problems,” Villiger told swissinfo. Speaking to journalists in Geneva, Villiger expressed his anger at the clichéd view of Switzerland as a money-laundering paradise and repeated that banking secrecy was…

Swiss banks credited with leading battle against money laundering

This content was published on Oct 23, 2000 The FT says a dozen of the world’s biggest banks, including Switzerland’s UBS and Credit Suisse, have agreed to the guidelines in an effort to head off criticism of their involvement in high profile money laundering cases. The paper credits Swiss banks with leading the initiative, and says the guidelines have been put together in…

Swiss stock exchange firms up blue chip deal with British partner

This content was published on Oct 23, 2000 Under the agreement, the new exchange is expected to be operational on the SWX’s EBS trading platform by the end of next March. SWX will then cease trading in all its Swiss blue chip shares. “The creation of virt-x is a major step forward for pan-European equity trading,” said Swiss Exchange chief, Antoinette Hunziker-Ebneter. “It…

Crossair moots job cuts in bid to save money

This content was published on Oct 23, 2000 The carrier, which is part of the SAirGroup, said it is studying downsizing possibilities because of the economic situation and the refusal of the majority of its pilots to accept a new collective working agreement. The company is thinking of discontinuing services on some loss-making routes. This would mean selling between five and 10 Saab…

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Banking & Fintech

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Swiss exports reach three-year high

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Clariant hails good result as sign of better things to come

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PaineWebber shareholders endorse UBS takeover

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Search goes on in Gondo

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Swisscom shares on the rise after reports of impending bidding war

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Spain to ratify EU accords with Switzerland this year

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Government clings to banking secrecy in face of mounting pressure

More

Swiss banks credited with leading battle against money laundering

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Swiss stock exchange firms up blue chip deal with British partner

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Crossair moots job cuts in bid to save money

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