Banking & Fintech

Tourism sector calls on politicians for help

This content was published on Mar 8, 2000 Representatives of Switzerland’s tourism sector are calling for more official support for the industry. The three main tourism associations are demanding lower taxes and an end to what they describe as an expansion of social security. High taxes, in particular Value Added Tax, would slow down consumer demand drastically, three of Switzerland’s main tourism associations…

Sunday’s vote: cutting traffic in half

This content was published on Mar 8, 2000 At the weekend the Swiss will vote on a proposal to halve traffic in the country. Critics of the initiative say the proposal makes no economic sense, and that it will be detrimental to employment. With 3.5 million cars for 7 million inhabitants, Switzerland is one of Europe’s most motorised countries. But with such mobility…

Auction of telecommunications licence exceeds expectations

This content was published on Mar 8, 2000 An auction to obtain the first national licence for Wireless Local Loop (WLL) carried out by the Federal Office of Communications has exceeded all expectations. The United Pan-Europe Communications company bid SFr120.8 million for the concession, more than 17 times the bid starting price set by the Office. The concession is for the so-called “last…

Agefi doubles earnings in 1999

This content was published on Mar 8, 2000 The Swiss financial publishing group, Agefi, has revealed a significant improvement in results for 1999. The Lausanne based company saw profits bounce back 94 per cent to SFr1.8 million over last year, with turnover up 26 per cent at SFr15.4 million. The group benefited from a marked increase in advertising revenue and the strong response…

Swiss Life hives off asset management

This content was published on Mar 8, 2000 Switzerland’s leading life insurer, Swiss Life, has hived off a major portion of its asset management by founding Swiss Life Asset Management. The new company is responsible for an investment volume of about SFr100 billion and manages assets for institutional investors, company-own investment funds and group-own companies. The move follows a strategic reorientation at the…

Cracks found on rail track used for nuclear transports

This content was published on Mar 8, 2000 The Swiss authorities have imposed a speed limit on a rail track between Basel and the French border used for transporting spent nuclear fuel rods, after cracks were found on parts of the line. The Transport and Energy Minister, Moritz Leuenberger, has ordered a halt to the transport of the rods from Swiss power stations…

Credit Suisse presents package for elite sportspeople

This content was published on Mar 7, 2000 The private banking division of the Credit Suisse group has become the first bank to offer special insurance cover for the world’s top sportsmen and women. The “Dream Team” package offers professional athletes a combination of individual service and specially-tailored asset management and insurance products. Cover is provided for all sports-related risks, including:– loss of…

1999 second most expensive year in history of insurance

This content was published on Mar 7, 2000 In the latest edition of its publication “sigma”, the Swiss Reinsurance Company in Zurich says acts of nature and man-made disasters claimed more than 105,000 lives in 1999. Total losses are estimated at US$100 billion, without indirect economic losses. The annual study says that natural catastrophes were responsible for more than 90 per cent of…

Avon and Roche calling

This content was published on Mar 7, 2000 The consumer health division of the Basel-based Roche group has announced a global strategic alliance with the United States firm, Avon, to develop an exclusive line of vitamins and nutritional supplements for women. Under a brand name yet to be determined, the new line will also include products for exercise and fitness, stress management and…

Swissair owner affected by slump in air transport sector

This content was published on Mar 6, 2000 The downturn in the air transport sector has hit results at Swissair owner, the SAirGroup. The latest figures show a decline in profits over 1999 of 24 per cent at SFr273 million. But analysts had earlier said profits would fall by around 30 per cent. Soaring fuel prices, the Kosovo conflict and frequent delays had…

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Banking & Fintech

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Tourism sector calls on politicians for help

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Sunday’s vote: cutting traffic in half

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Auction of telecommunications licence exceeds expectations

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Agefi doubles earnings in 1999

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Swiss Life hives off asset management

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Cracks found on rail track used for nuclear transports

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Credit Suisse presents package for elite sportspeople

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1999 second most expensive year in history of insurance

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Avon and Roche calling

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Swissair owner affected by slump in air transport sector

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