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Cautious reaction to Corti’s measures to fix Swissair

This content was published on Apr 26, 2001 Under pressure to reveal just how he intends to revive the ailing aviation group, Corti put forward a series of measures at Wednesday’s AGM aimed at restoring public confidence. He unveiled a bank loan of SFr1 billion from a consortium made up of Citibank, Credit Suisse First Boston and Deutsche Bank to help offset losses…

Slowing world economy set to hit Swiss growth

This content was published on Apr 26, 2001 In its spring forecast, the Institute for Business Cycle Research said the economy would grow by 2.1 per cent this year and by 1.6 per cent in the year 2002. GDP growth will therefore be “running at a solid pace”, the researchers commented. The forecast said prospects for the global economy had noticeably deteriorated since…

Kostunica sees Switzerland as model for Yugoslavia

This content was published on Apr 26, 2001 The two men also discussed frozen assets in Switzerland thought to belong to ousted president, Slobodan Milosevic. Kostunica said he would draw on the Swiss example in future negotiations about the structure of the Yugoslav Federation – comprised of Serbia and its much smaller sister republic, Montenegro. His comments come in the wake of a…

Swiss Re profits jump by a fifth

This content was published on Apr 26, 2001 The company attributed the strong result to a recovery in the non-life business, after several years of strong competitive pressure. In a statement, Swiss Re said the result was the latest in a long series of marked improvements. “Over the past six years — in other words, since the strategic reorientation of the group and…

Swatch links up with AOL Time Warner

This content was published on Apr 26, 2001 Under the deal, announced on Wednesday, AOL Time Warner will develop programmes and promotional initiatives for Swatch’s 18 brands. These will be promoted across the US company’s various media, including Time Inc. and AOL websites. AOL Time Warner boss, Bob Pittman, said the agreement would give Swatch new opportunities to showcase their products while creating…

InCentive withdraws hostile bid for Sulzer

This content was published on Apr 26, 2001 The announcement was widely expected after InCentive, an investment company headed by René Braginsky, failed to win over shareholders at Sulzer’s annual general meeting last week. InCentive was hoping to elect its own board and to abolish voting restrictions to ease through its SFr 1.6 billion ($0.94 million) bid, but failed on both counts. Shareholders…

Ciba reports solid first quarter

This content was published on Apr 26, 2001 Sales were up only one per cent in local currencies in what the company described as a challenging business environment. The figures, however, were at the top end of analysts’ forecasts. Ciba on Thursday said it expected further sales and earnings growth for the rest of the year. “These forecasts are based on both a…

The longest train journey in a small country

This content was published on Apr 26, 2001 I asked an official at the Swiss Federal Railways to tell me where I would have to start and end my journey if I wanted to take the longest possible train ride in the country. It took a while before he understood the strange request. “It depends where you want to go,” he replied. But…

SAirGroup boss tries to restore public confidence

This content was published on Apr 25, 2001 In his introductory remarks at the meeting, Corti traced the history of SAirGroup’s problems, which led to the company’s worst-ever results last year. Corti said the search for a new strategy had started when the Swiss people turned down membership of the European Economic Area in 1992, but he admitted that an attempt to create…

Novartis plans to develop new research facility

This content was published on Apr 25, 2001 A Novartis spokesman said the project was already in an advanced stage and that a firm decision would be taken within the next few months. The plan is to build a new research centre called the “Drug Discovery Centre” where researchers will conduct studies into new medicines. Their work will be based on genetic research.…

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Cautious reaction to Corti’s measures to fix Swissair

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Slowing world economy set to hit Swiss growth

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Kostunica sees Switzerland as model for Yugoslavia

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Swiss Re profits jump by a fifth

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Swatch links up with AOL Time Warner

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InCentive withdraws hostile bid for Sulzer

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Ciba reports solid first quarter

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The longest train journey in a small country

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SAirGroup boss tries to restore public confidence

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Novartis plans to develop new research facility

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