Banking & Fintech

Swiss go on shopping spree

This content was published on May 12, 2000 It comes on the heels of the release of unemployment figures showing the jobless rate at an eight year low. Other economic indicators also point to continued economic growth. SECO’s Bettina Müller told Swissinfo that this data “is an image of what’s going on in general in the economy. A lot of data shows that…

Plan for panorama train back on track

This content was published on May 12, 2000 Currently, tourists can board a panorama train in either Montreux on Lake Geneva or in Lucerne in central Switzerland, but then have to change trains twice if they want to continue their journey in scenic style to the other town. The narrow gauge trains of the two panorama railways, the Montreux Oberland Bahnen (MOB) and…

Army chief backs defence spending plans

This content was published on May 12, 2000 He made the statement after a key senate committee on Thursday voted in favour of purchasing 186 Swedish-made CV-9030 armoured personnel carriers at a cost of SFr990 million. An additional SFr188 million of the defence budget will go on mine-clearance and communications systems. The new acquisitions, which still need approval by parliament, are part of…

A flight of fancy

This content was published on May 12, 2000 The metallic, patchwork-like underbody and the fact that the tail rests virtually on the ground give away its age. Boarding from the rear door entails a bit of an uphill struggle. As he heaves himself into his seat, Breitel says “I’m looking forward to seeing the Alps from a different perspective – it’s my 60th…

Petrol price hits record high

This content was published on May 12, 2000 That is slightly higher than during the early 1980s, when petrol prices hit a high of SFr1.39. The oil companies say the latest price rise is due to an increase in prices on the market in Rotterdam. This in turn, is due to growing demand for oil, particularly from the United States. They said the…

Cabinet paves way for new charity foundation

This content was published on May 11, 2000 After an extraordinary session on Wednesday, it proposed using the remaining 800 tonnes on deficit reduction, educational projects, and to stock up the state pension plan. However, the details have been left open. The cabinet agreed at the meeting that the fund should be limited to 30 years. The finance ministry said it would present…

Swiss insurers to compensate Holocaust victims

This content was published on May 11, 2000 A maximum sum of $50 million has for the first time been put on the table by the negotiators from the Swiss banks UBS and Credit Suisse, who are representing four Swiss insurance companies, including Swiss Re, Baloise, Swiss Life and Helvetia-Patria.· The negotiations in New York are supposed to avert class action lawsuits being…

Strengthening franc spells bad news for Swiss exporters to Europe

This content was published on May 11, 2000 Before then, the franc and the euro had moved to a large extent in parallel, with the euro worth around SFr1.60. However, since the Swiss National Bank’s decision to move Swiss interest rates higher independently of the European Central Bank, the Swiss unit has been gaining ground. At present the euro buys around SFr1.55. About…

Life insurance helps boost Swiss Re profits

This content was published on May 11, 2000 The growth in profit came despite a year which saw heavy winter storms in Europe that added around SFr 900 million to the company’s claims burden. “We’ve achieved it because we were prepared,” says Swiss Re’s chief financial officer, John Fitzpatrick. “The life insurance result more than doubled. The investment result was up more than…

Wall Street welcomes Novartis

This content was published on May 10, 2000 Novartis, based in Basel, is one of several Swiss companies that are being attracted to the world’s largest bourse. The UBS financial group announced Wednesday that it would be listed in New York from Tuesday next week. The trading of Novartis shares will be by American Depositary Receipts, with 40 ADRs equalling one registered share…

Banking & Fintech

Popular Stories

Most Discussed

Banking & Fintech

More

Swiss go on shopping spree

More

Plan for panorama train back on track

More

Army chief backs defence spending plans

More

A flight of fancy

More

Petrol price hits record high

More

Cabinet paves way for new charity foundation

More

Swiss insurers to compensate Holocaust victims

More

Strengthening franc spells bad news for Swiss exporters to Europe

More

Life insurance helps boost Swiss Re profits

More

Wall Street welcomes Novartis

Popular Stories

Most Discussed