Banking & Fintech

Ascom plans to float subsidiary on stock market

This content was published on Mar 6, 2000 The Berne-based telecommunications group, Ascom, plans to launch its subsidiary iT_Security – active in security systems for the Internet and Intranet – on the stock market. Speculation about the move had pushed up the price of Ascom shares considerably over the past weeks. A statement said that iT_Security in Zurich was one of Europe’s leaders…

Experts optimistic on economy

This content was published on Mar 6, 2000 Financial experts in Switzerland are optimistic about the development of the Swiss economy. A survey among them published by the Swiss news agency foresees a rise in GDP of between 1.7 and 2.5 per cent for the year 2000. The growth forecasts for the fourth quarter of 1999 over the previous three months, vary among…

Diax pursues inroads into telecoms market

This content was published on Mar 6, 2000 The telecommunications operator, Diax, has reported a successful 1999 business year with turnover totalling more than SFr500 million, 30 per cent more than expected. The Zurich-based company says it now has more than one million customers. A statement said that net profit also exceeded expectations but gave no figure. Diax said it anticipated turnover would…

Business week outlook

This content was published on Mar 5, 2000 A busy week awaits dealers on the Swiss market this week, with a clutch of major companies revealing their 1999 results and the publication of some key economic data. On Monday, the SAirGroup is set to reveal its latest figures in full. Analysts are expecting a 25 to 30 per cent drop in profits, which…

SAir president defends pension fund move

This content was published on Mar 5, 2000 The SairGroup, which owns the national carrier, Swissair, has converted part of the surplus from its pension fund into capital funds. The SAir president, Philippe Bruggisser (picture), defended the move, arguing that the group contributes more to the pension fund than its employees. However, he recognised that employees also have a right to the surplus.…

Maurer says welfare under threat

This content was published on Mar 4, 2000 The president of the Swiss People’s Party, Ueli Maurer (picture), says Switzerland’s spiralling welfare costs cannot be guaranteed in the long-term. His remarks came in an address to delegates at the party’s special congress in Altdorf. Maurer said Switzerland needs to strengthen its economy, in order to ensure its continued competitiveness and to carry out…

The lucrative legacy of Lötschental’s looters

This content was published on Mar 3, 2000 It’s carnival season in Switzerland, and communities across the country are decking themselves out in bizarre costumes. In the Lötschental valley, in canton Valais, the emphasis is on striking terror into locals and tourists alike. An unsuspecting visitor, dropping into the Lötschental valley during carnival week, might well flee Switzerland never to return. Instead of…

Deiss surprised at Israeli reaction to Golan Heights comments

This content was published on Mar 3, 2000 The Swiss foreign minister, Joseph Deiss, has expressed surprise at Israel’s reaction to comments he made in Syria on Wednesday. He said he had merely repeated Switzerland’s long-held view that Israel’s annexation of the Golan Heights was illegal. He had said it was in breach of the Geneva Conventions, and restated Switzerland’s view that Israel…

Swiss go crazy for pasta

This content was published on Mar 3, 2000 Pasta fever is running at a record high in Switzerland. Last year, the Swiss ate their way through an average 10,1 kilogrammes each, a five per cent increase on the previous year’s figure. The Swiss Pasta Association said the Swiss consumed 72,240 tonnes of pasta in 1999, which led to a 19.6 per cent rise…

Raichle stops boot production in Switzerland

This content was published on Mar 3, 2000 The Raichle boot company, a subsidiary of the Austrian concern Kneissl & Friends, is stopping the European production of ski and walking boots. The decision means the loss of 65 of the 95 jobs at the company’s site at Kreuzlingen in the Swiss canton of Thurgau. The remaining staff will be involved in development and…

Banking & Fintech

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Banking & Fintech

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Ascom plans to float subsidiary on stock market

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Experts optimistic on economy

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Diax pursues inroads into telecoms market

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Business week outlook

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SAir president defends pension fund move

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Maurer says welfare under threat

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The lucrative legacy of Lötschental’s looters

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Deiss surprised at Israeli reaction to Golan Heights comments

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Swiss go crazy for pasta

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Raichle stops boot production in Switzerland

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