Banking & Fintech

The business week in Switzerland

This content was published on Feb 19, 2000 * Novartis executives had something to smile about this week, after a difficult period for the pharmaceuticals giant, while Microsoft found itself under fire again. * Novartis released much better than expected yearly results with net profit up 11 per cent to SFr 6.66 billion. Turnover was up two per cent to SFr 32.5 billion.…

Swissair resumes flights to Belgrade

This content was published on Feb 18, 2000 The Swiss national airline, Swissair, is resuming flights to Belgrade, following the European Union’s decision to lift a ban on air links with Serbia. A spokesman said Swissair would fly to the city five times a week from the end of February, and resume daily flights with the introduction of its summer timetable on March…

Swiss Post Office studies future role of Postfinance

This content was published on Feb 18, 2000 The financial arm of the state-owned Swiss Post Office, Postfinance, is looking at ways of repositioning itself for the future. A project group set up by the Post’s board of directors has been studying all possible options, including the controversial question of privatisation of the Postbank. Privatisation is a thorny political issue. The economics minister,…

UBS announces major reorganisation

This content was published on Feb 18, 2000 Switzerland’s largest bank, UBS, has announced a major reorganisation of its structure, designed to unlock the banking giant’s growth potential. Analysts say the move is designed to create a leaner and more streamlined organisation. Private banking, which has faced problems expanding its business, is to be merged with the division UBS Switzerland headed by Stephan…

Atraxis signs deal with South African Airways

This content was published on Feb 17, 2000 The Swiss based information technology group, Atraxis, has signed a deal worth more than SFr1 billion with Africa’s largest airline, South African Airways (SAA). Atraxis, which is SAirGroup’s specialist information technology (IT) subsidiary, is to upgrade and maintain the airline’s IT infrastructure. As part of the deal, which is scheduled to run for 12 years,…

Swiss Railways introduce tilting train

This content was published on Feb 17, 2000 The Swiss Federal Railways have presented the first two production models of their new tilting trains which will come into service at the end of May. Capable of reaching speeds of 200 kilometres per hour, the new trains with seven coaches and room for 480 passengers, will be able to cut journey times by 15…

Georg Fischer wins major order from VW

This content was published on Feb 17, 2000 The industrial concern, Georg Fischer, has won an order from the German car-maker, Volkswagen, worth more than SFr 200 million. The order covers the production and delivery of cast iron chassis components for the T5 utility vehicle. Production is scheduled for between 2002 and 2008. Volkswagen says it has based the Georg Fischer order on…

Fresh calls to promote green products

This content was published on Feb 17, 2000 The Swiss charity, Swissaid, is calling on the government to do more to promote organic products. It says public subsidies should be redirected away from research into genetically modified (GM) crops. At its annual press conference in Berne on Thursday, the non-governmental organisation urged parliament to endorse a ten-year moratorium on GM products saying that…

Novartis figures better than forecast

This content was published on Feb 17, 2000 The life sciences giant, Novartis, has published much better than expected yearly results. Net profit for 1999 rose to SFr 6.659 billion, an 11 per cent increase on the previous year. Most analysts had forecast an increase of around four per cent. Turnover was up two per cent to SFr 32.5 billion. “During 1999 we…

Couchepin tackles double taxation problem in India

This content was published on Feb 16, 2000 The Swiss economics minister, Pascal Couchepin, has signed two accords with India during a four-day visit to the subcontinent. Couchepin and the Indian finance minister, Yashwant Sinha, (pictured) exchanged instruments ratifying an agreement on the protection of investments and the signing of a protocol modifying the double taxation agreement between the two countries. They underlined…

Banking & Fintech

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Banking & Fintech

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The business week in Switzerland

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Swissair resumes flights to Belgrade

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Swiss Post Office studies future role of Postfinance

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UBS announces major reorganisation

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Atraxis signs deal with South African Airways

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Swiss Railways introduce tilting train

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Georg Fischer wins major order from VW

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Fresh calls to promote green products

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Novartis figures better than forecast

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Couchepin tackles double taxation problem in India

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