Cluster: Archive

Zurich’s esmertec acquires competitor’s business

This content was published on Feb 28, 2003 The Zurich-based firm purchased the unit to expand its market share and fight off a key competitor in its target market. “Insignia had gained significant market share in the embedded systems and handheld market,” said Alain Blancquart, esmertec’s CEO. “It had recently decided to target mobile phones, which is our market niche,” he said. The…

Swiss drug market grows amid high price concerns

This content was published on Feb 28, 2003 The actual volume of drugs sold went down, but total income grew by 6.6 per cent. The rate of growth was less than that of the previous year, which was 9.6 per cent. Industry associations blamed falling drug prices and the rising popularity of generics in the Swiss market. Presenting the results on Friday were…

The Swatch celebrates its 20th birthday

This content was published on Feb 28, 2003 The fashion timepiece rapidly became a competitor to cheap quartz watches produced in the Far East, which had threatened to put Swiss watchmakers out of business. The Swatch was launched in Zurich on March 1, 1983, with 12 models priced at between SFr39 and SFr50. It became an instant hit in Switzerland. Some months later,…

Swiss take advantage of a cheap tipple

This content was published on Feb 28, 2003 A new survey, by the Swiss Institute for Drug and Alcohol Prevention (ISPA), shows that the Swiss now drink 40 per cent more spirits than they did when taxes were higher. Holger Schmid, the deputy director of the ISPA, told swissinfo that the increase was most marked among the younger age groups across both sexes.…

Switzerland drops off the beaten track

This content was published on Feb 27, 2003 Italy wants a key road corridor linking eastern and western Europe to run through Trieste – a move that would leave Switzerland well off the beaten track. With ten countries due to join the EU next year, the location of new transport arteries linking east and west could have huge implications for the countries in…

Nestlé results brighten black week

This content was published on Feb 27, 2003 The announcement brought a ray of sunshine to an otherwise black week, during which many of Switzerland’s largest companies filed disappointing results. Profits were up by 13 per cent, and acquisitions and spin-offs provided nearly SFr4 billion for Nestlé’s coffers. Last year the Swiss-based concern continued to expand globally and into new markets, snapping up…

Weak markets batter Zurich Financial

This content was published on Feb 27, 2003 The results were well down on last year’s $387 million loss and reflected the industry-wide slump brought about by crumbling stock markets. The plunging value of Zurich’s equity portfolio led to a 24 per cent reduction in net investment income to $5 billion. The insurer also announced that it was slashing its dividend from SFr8…

Aloha to Solothurn Fasnacht

This content was published on Feb 27, 2003 For four days, Solothurn is known as Honolulu and sinks into colourful mayhem, honouring a tradition that is at least 500 years old. Dirty Thursday, as the first day of carnival is known, begins at the crack of dawn. At five o’clock, the Oberchessler, or leader of the carnival, gives the signal on Friedhofplatz for…

ABB sinks to new low

This content was published on Feb 27, 2003 Announcing a $787 million (SFr1.1 billion) loss for 2002, chairman and CEO Jürgen Dormann said he did not expect any improvements in the short term. Faced with lacklustre global economic conditions and a looming debt crunch of at least $2.6 billion, ABB aims to raise around $2 billion from asset sales. The company also plans…

Cabinet challenges Swisscom’s “last mile” monopoly

This content was published on Feb 26, 2003 The government wants to end Swisscom’s dominance of the market, but it could take years to come into effect. Swisscom, in which the government has a majority stake, still has the monopoly on the fixed line network in Switzerland. Consumers currently have to pay the company a monthly fee for the use of its network,…

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Zurich’s esmertec acquires competitor’s business

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Swiss drug market grows amid high price concerns

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The Swatch celebrates its 20th birthday

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Swiss take advantage of a cheap tipple

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Switzerland drops off the beaten track

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Nestlé results brighten black week

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Weak markets batter Zurich Financial

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Aloha to Solothurn Fasnacht

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ABB sinks to new low

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Cabinet challenges Swisscom’s “last mile” monopoly

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