Cluster: Archive

Recovery fails to check rising unemployment

This content was published on Feb 9, 2004 However, the economics ministry said it drew some signs of encouragement from the January figures, which fell for the third year in succession. In a statement released on Monday, the State Secretariat for Economic Affairs (Seco) said the number of people registered out of work rose by over 5,000 to 168,163 in January. The jobless…

Transalpine rail project exhausts credit line

This content was published on Feb 6, 2004 The news comes as parliament considers granting an extra credit of SFr900 million ($730 million) for the project, bringing the total cost to SFr15.5 billion. On Thursday a parliamentary committee warned that the bill for the tunnels could escalate further, saying the project would require a further top-up of SFr700 million. The electorate approved a…

Swiss technology takes on Chicago’s pit bulls

This content was published on Feb 6, 2004 Eurex, a joint venture of the Swiss and German stock exchanges, is homing in on a market that has not been easy to enter but which is seen as holding great potential. After overcoming a number of hurdles from competitors since applying last September to put its foot in the door, Eurex finally won approval…

SVOX offers mobile telephony for the blind

This content was published on Feb 6, 2004 Mobile phones have mainly been targeted at the young, neglecting a group of users that often has difficulties with the tiny screens and buttons on today’s wireless phones. Now SVOX’s voice synthesis software can read out loud the numbers or character entered on the keypad, including the menu options and all the information appearing on…

Fagan sues UBS

This content was published on Feb 5, 2004 But on Friday a New York court said no complaint had been lodged. The controversial lawyer said on Thursday that he was taking action in the United States after the bank rejected an earlier ultimatum to open negotiations. Fagan wants UBS to pay back money which the US government paid to a former subsidiary of…

Funds fair casts a net for new investors

This content was published on Feb 5, 2004 More than 90 fund managers, representing about 80 per cent of the Swiss market, promoted their wares at the three-day “Fonds’04” fair in Zurich. The funds are effectively competing for a slice of Switzerland’s growing market for managed funds, estimated to be worth hundreds of billions of francs. And even though many investors were badly…

Swiss Re swoops for more business in the US

This content was published on Feb 5, 2004 The world’s largest life and health reinsurer is also acquiring CNA’s life insurance servicing and administration facility in Nashville, Tennessee. The move is one of the biggest “Admin Re” deals by the Zurich-based company. Admin Re involves Swiss Re taking over policies, premiums and staff from primary insurers who no longer want to run the…

Adecco under pressure to compensate shareholders

This content was published on Feb 5, 2004 Investors in the United States have filed several lawsuits seeking damages against the Swiss firm. Adecco saw its value drop by nearly SFr7 billion ($5.6 billion) in a matter of minutes on January 12, following the announcement that it would delay publishing its year-end results. The firm, which is based in Glattbrugg near Zurich, revealed…

Swiss venture capital investment picks up

This content was published on Feb 5, 2004 It was the lowest total in the past three years. But the sector held its own the European ranking, coming fifth overall. Switzerland is in fifth place in Europe with 5.8 per cent of the total venture funding announced in 2003, the same amount Switzerland raised in the previous year, according to Tornado Insider Research.…

Swiss weapons exports on the rise

This content was published on Feb 4, 2004 According to the State Secretariat for Economic Affairs (Seco), sales jumped by over a third in 2003 to reach SFr379 million ($302 million). The sale of armoured vehicles, air defence systems and ammunition boosted exports by more than SFr100 million last year. More than two-thirds of all weapons destined for the export market were sold…

Cluster: Archive

Popular Stories

Most Discussed