Banking & Fintech

Muba fair opens amid controvery

This content was published on Apr 28, 2000 Switzerland’s largest consumer fair, Muba, has opened its doors in Basel against a background of controversy. An explicit poster campaign(pictured) and the presence of the army sparked off protests even before the doors opened. A naked, pregnant woman used in the Muba advertising campaign and a shooting simulator of the Swiss Army both divided opinions…

National Bank upbeat about economy

This content was published on Apr 28, 2000 The president of the National Bank, Hans Meyer (pictured), has given an upbeat assessment of the Swiss economy. However, he also expressed concerns about the integrity of Swiss banks. Meyer told the bank’s annual general meeting on Friday that the economy was stronger, but warned that there were growing risks to economic stability. “We are…

Swisscom employees stage protest action

This content was published on Apr 27, 2000 Around 600 Swisscom employees staged a brief protest action on Thursday during their lunch breaks in French-speaking Switzerland. They were protesting against plans to cut 3,000 jobs. Trade unions which had organised the protest are concerned that Swisscom’s management has not yet revealed which branches of the communications giant are affected by the cuts. Swisscom…

New high-tech storage depot opened for nuclear waste

This content was published on Apr 27, 2000 Switzerland’s nuclear power industry has opened a hi-tech storage site for radioactive waste from the country’s five commercial reactors. The SFr500 million storage depot, at Würenlingen, canton Aargau, is adjacent to a government-run dump for low-level radioactive waste. The new depot will take in highly radioactive waste, mostly spent rods, which have beenreprocessed in plants…

Swiss National Bank leaves interest rates unchanged

This content was published on Apr 27, 2000 The Swiss National Bank has left interest rates unchanged in the wake of the European Central Bank’s announcement that its key rate is rising by 25 basis points to 3.75 per cent. The SNB’s target range for LIBOR (London Interbank Offered Rate) remains 2.5 to 3.5 per cent. Neither decision came as any surprise. The…

New price war in store as mobile phone competition hots up

This content was published on Apr 27, 2000 Competition in Switzerland’s mobile telecommunications sector is hotting up with two new service providers due to enter the fray. Neither Sunrise nor Tele 2 have their own mobile networks but they’ve struck deals with Swisscom and Orange to offer their customers pre-paid mobile services. From next month, Tele 2 mobile customers will be able to…

Negative trade balance due to high oil prices

This content was published on Apr 27, 2000 Switzerland’s trade balance with the rest of the world showed a deficit of SFr333 million for March, reflecting higher oil prices and the purchase of new aircraft for Crossair. The figures more than wiped out February’s surplus of Sfr76 million. The total deficit for the first quarter of the year stands at SFr386 million compared…

Mixed results in survey of Alpine tunnel safety

This content was published on Apr 26, 2000 A survey of tunnel safety in eight European countries, including Switzerland, has just been published in the wake of last year’s disastrous fires in the Mont Blanc tunnel, linking France and Italy, and Austria’s Tauern tunnel which killed a total of 51 people. The results, published in Brussels, show a definite need for improvements. Of…

SAir Group gets go-ahead for Belgian airline take-over

This content was published on Apr 26, 2000 The Belgian government has given Switzerland’s SAir group, which owns the national airline, Swissair, the go-ahead to take over the Belgian carrier, Sabena. The agreement was signed in Brussels by the entreprise minister, Rik Daems, and the chairman of SAir, Hannes Goetz. SAir, which held 49.5 per cent of Sabena’s shares, is set to increase…

Swiss franc nosedives against dollar

This content was published on Apr 26, 2000 The Swiss franc has hit a ten-year low against the dollar, which is trading above SFr1.70 for the first time since June 1989. The franc is being dragged lower in the wake of a plunging euro, which has dropped to another all time low against the US currency. The single European currency used by 11…

Banking & Fintech

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Banking & Fintech

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Muba fair opens amid controvery

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National Bank upbeat about economy

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Swisscom employees stage protest action

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New high-tech storage depot opened for nuclear waste

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Swiss National Bank leaves interest rates unchanged

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New price war in store as mobile phone competition hots up

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Negative trade balance due to high oil prices

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Mixed results in survey of Alpine tunnel safety

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SAir Group gets go-ahead for Belgian airline take-over

More

Swiss franc nosedives against dollar

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