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Swiss jobless rate dips

This content was published on Jun 6, 2003 The slight dip was because of new figures showing that the number of people working in Switzerland was higher than previously thought. The government said seasonal hiring also contributed the slight fall in the jobless rate to 3.6 per cent in May from 3.9 per cent in April. “We have seasonal effects especially in the…

Rate cut is mixed blessing for Swiss exporters

This content was published on Jun 5, 2003 On the one hand, the cut should boost the euro-zone economies, increasing demand for Swiss products, but it could make Swiss goods more expensive. The ECB’s rate cut failed to push down the euro – indeed, it rose against the franc and the dollar after the decision was announced. But at record highs against the…

Recession strikes Swiss economy

This content was published on Jun 5, 2003 Government officials blamed the strong Swiss franc coupled with weak exports and poor consumer demand. On Thursday, figures by the State Secretariat for Economic Affairs (Seco) showed two successive quarters of negative GDP growth – in line with economists’ definition of a recession. The first quarter GDP fell 0.6 per cent from the same quarter…

Hole in the ground to probe secrets of the universe

This content was published on Jun 5, 2003 On Wednesday, the Swiss president, Pascal Couchepin, inaugurated a huge underground cavern near Geneva, which will house an experiment called Atlas. Standing as high as a six-storey building and twice as long, Atlas will almost fill the purpose-built cavern which has been excavated over the past two years. The particle detector should help physicists understand…

EU tax deal gives Swiss room to bargain

This content was published on Jun 4, 2003 His comments came after EU finance ministers agreed a common policy for the Union. Villiger said on Wednesday that he expects a quick conclusion to a second round of bilateral negotiations with the EU. Brussels is keen for Switzerland to sign up to its “savings tax directive” – agreed on Tuesday – which would allow…

Swiss banks under pressure

This content was published on Jun 4, 2003 Despite the reassuring results, Swiss unions are warning that more job cuts could be on the way soon. Switzerland’s banks last year saw their aggregate net profits drop nearly five per cent to SFr11.9 billion ($9.1 billion), according to the Swiss National Bank (SNB). Officials blamed the weaker performance on higher depreciation costs, which rose…

EU tax deal leaves Swiss banking secrecy intact

This content was published on Jun 4, 2003 The Swiss have already made clear they are prepared to transfer a levy on EU citizens’ investment income to Brussels, provided banking secrecy is upheld. The Swiss proposal would leave the country’s cherished banking secrecy intact because no information about account holders would be handed over without their consent. A deal between Bern and Brussels…

IMF advises Switzerland on ways to boost economy

This content was published on Jun 3, 2003 In one of its regular assessments of the state of the economy, the IMF said Swiss authorities should keep interest rates low and pursue a flexible monetary policy. The Washington-based Fund said Switzerland should continue to liberalise its product markets, which was being hampered by a lack of competition. Assuming a pick-up in external demand,…

Banks give indebted Cablecom one-month reprieve

This content was published on Jun 3, 2003 Cablecom remains on the verge of bankruptcy with debts of at least SFr3.7 billion ($2.8 billion). The Zurich-based company – which serves more than 50 per cent of Swiss cable viewers – was supposed to have had its debt problems resolved by the end of May. On Monday, the firm’s lenders agreed to extend the…

Swiss bridge gap between engineering and art

This content was published on Jun 3, 2003 The exhibition at Princeton University aims to show how the group played a key role in transforming engineering into an art form. David Billington, the show’s curator and a professor of engineering at Princeton, says some of the most acclaimed structures in the US are the work of Swiss design, including New York’s George Washington…

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Swiss jobless rate dips

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Rate cut is mixed blessing for Swiss exporters

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Recession strikes Swiss economy

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Hole in the ground to probe secrets of the universe

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EU tax deal gives Swiss room to bargain

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Swiss banks under pressure

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EU tax deal leaves Swiss banking secrecy intact

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IMF advises Switzerland on ways to boost economy

More

Banks give indebted Cablecom one-month reprieve

More

Swiss bridge gap between engineering and art

Popular Stories

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