Banking & Fintech

Saurer back in profit

This content was published on Oct 9, 2000 However, the results were below market expectations and shares in the group fell in Monday trading. Saurer, based in canton Thurgau, said net profits rose to SFr25.7 million ($14.69 million) from a loss of SFr70.4 million last year. Its operating result swung to a profit of SFr48.4 million from a loss of SFr61.6 million, while…

Deiss holds talks with Thai leaders

This content was published on Oct 9, 2000 The first full day of Deiss’s Asian trip was given over to discussions of economic issues. It included talks with the deputy prime minister and minister of commerce, Supachai Panichpakdi, and representatives of Swiss industry. In addition to bilateral economic ties, Deiss and Panichpakdi discussed the future of the World Trade Organisation (WTO), which has…

Jelmoli to build new shopping centre in Geneva

This content was published on Oct 9, 2000 Robert Kaenzig, secretary of the Jelmoli board, said the group had so far paid SFr31 million for the construction rights and would have to invest another SFr80 million in the construction, which starts in December. He added that there would be some financing costs in the 2001 financial results but the impact would be small.…

Swatch adds German brand to expanding luxury range

This content was published on Oct 9, 2000 The company said in a statement that the purchase “will enhance the existing prestige and luxury segment of the Swatch Group”. Spokeswoman Béatrice Howald added, “Glashütter Uhrenbetrieb produces fewer than 10,000 time pieces per year”. Glashütter joins Swatch’s impressive range of luxury brands, including Breguet, Blancpain, Jaquet-Droz, Omega, Longines, Rado and Swatch, as well as…

Swiss firms bankroll Republican election campaign

This content was published on Oct 9, 2000 Generous donations to US presidential candidates are nothing new: every four years Swiss firms with US interests put their “donation dollars” in the hands of the presidential candidate they feel would best serve their interests. This time they are betting on George W Bush, according to an article published on Monday in the French language…

The business week ahead

This content was published on Oct 8, 2000 With little in the way of fresh domestic economic data expected, the focus will return to the United States dollar’s strength against the euro and the Swiss franc. Last week’s increase in interest rates at the European Central Bank (ECB) failed to bolster the weaker euro. More dollar strength against the euro and the Swiss…

Caritas to boost emergency supplies to Yugoslavia

This content was published on Oct 8, 2000 The programme will intensify efforts already begun last autumn in the region. Areas in Serbia near Belgrade, Nis, Subotica and Zrenjanin are to receive 80,000 aid parcels containing basic food and hygiene products. Nine thousand families would benefit from receiving firewood, while a further 3,000 would be given wood stoves. In neighbouring Montenegro, 20,000 families…

The business week in Switzerland

This content was published on Oct 7, 2000 Friday’s data followed a report from the Swiss Institute of Business Cycle Research (KOF) in Zurich, which was released on Thursday. It forecast a slowdown in economic growth over the coming two years. In its autumn report, KOF forecast that Gross Domestic Product would grow by 2.9 per cent in 2000, before slowing to 2.2…

The Week in Switzerland

This content was published on Oct 7, 2000 The government this week came out in favour in legalising cannabis. Under the proposal, the consumption of hashish and marijuana would become legal, while their production and sale could be tolerated. But it is too early to say whether Switzerland will follow the Dutch example. Parliament has still to discuss the issue and it is…

Locarno: a slice of the Mediterranean with a Swiss twist

This content was published on Oct 6, 2000 I started my tour of the city in canton Ticino with a stop at one of the traditional ‘grotti’, not to be mistaken for restaurants. “The word grotto comes from the Italian word for cavern, ‘grotta’,” Dario tells me as we settle down to a plate of ‘formaggini’, they’re little fresh cheese patties, drenched in…

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