Banking & Fintech

Alternative Bank breaks the mould

This content was published on Mar 29, 2000 Many Swiss banks have been reporting record profits over the past few weeks but one financial institution with a difference made just SFr90,000 last year. It’s the Alternative Bank which believes that making money is not its main priority. Founded ten years ago this year and based in Olten, the Alternative Bank has been growing…

Feldschlösschen calls time on drinks division

This content was published on Mar 29, 2000 Switzerland’s biggest brewery, Feldschlösschen, is to stop making beer. The company said it planned to sell its beer and soft drinks division by the end of the year. Feldschlösschen said in a statement it was looking for a buyer with knowledge of the beer business and international experience. It said it planned to auction off…

Switzerland’s biggest brewer calls time

This content was published on Mar 29, 2000 The Swiss brewing giant, Feldschlösschen, is to sell off its entire drinks division, which produces almost half the country’s beverages. The company says it intends to concentrate fully on its property business. Feldschlösschen’s chairman, Robert Jeker, announced that the firm planned to sell both its beer and soft drinks divisions by the end of the…

Swiss cattle to graze in Kosovo

This content was published on Mar 29, 2000 More cattle have been flown to Kosovo as part of Switzerland’s development aid to the Serbian province ravaged by last year’s conflict. Another 63 cows were flown from Zurich airport to Pristina. The Swiss foreign ministry said that it planned to send a total of 1,000 cows to Kosovo by the end of the year.…

Cabinet unveils new military spending

This content was published on Mar 29, 2000 The Swiss cabinet has approved an arms procurement programme worth SFr1.18 billion for the year 2000, one of the lowest in 15 years. The main item is 186 Swedish-built CV-9030 tanks (pictured) for SFr990 million. The procurement package, which will need parliamentary approval, also includes 120 battlefield command cars, and some mine-clearing ploughs that can…

Organic products in demand

This content was published on Mar 28, 2000 Switzerland has a shortage of organically produced milk and meat. Even though sales of organic products shot up by 14 per cent last year, it was not enough to satisfy consumer demand. Switzerland has the second biggest number of organic producers in the world behind Austria. The producers association, Bio Suisse, says organic produce is…

Cause of Crossair crash still unclear

This content was published on Mar 28, 2000 An interim report into January’s Crossair plane crash, in which ten people died, sheds no light on the cause of the accident. The eight-page report, compiled by federal air crash investigators, gives a detailed description of the events leading up to January’s crash, but offers no explanation as to why the Saab-340 came down just…

Swisscom withdraws from satellite market

This content was published on Mar 28, 2000 Switzerland’s largest telecommunications operator, Swisscom, has announced it is to pull out of the satellite communication business, with the loss of 41 jobs. Swisscom cites rapid changes in telecommunications technology and markets for abandoning satellite communication at the end of 2001 via its own ground stations at Leuk (pictured), Zurich, Basel and Geneva. “International telecom…

Annual figures show Kuoni flying high

This content was published on Mar 28, 2000 Switzerland’s largest travel group, Kuoni, has reported recorded figures for 1999, with profit increasing by 13.7 per cent to reach SFr117.3 million. The group, which saw turnover grow more than 20 per cent to SFr3.5 million, says it is looking to the future with optimism because booking levels in key markets are all pointing up.…

Swiss unemployment heading downward, but not for all

This content was published on Mar 27, 2000 Unemployment in Switzerland is dropping, as the economy carries on growing. The country is working its way out of the recession which hit in the mid-1990s, and now has an unemployment rate of 2.4 per cent. This is one of the lowest figures in the industrialised world. However, many of those still without a job…

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