Cluster: Archive

The business week in Switzerland

This content was published on Jan 6, 2001 Most Swiss economists welcomed the US move to cut rates by half a per cent, and said there would be no negative impact on the Swiss economy. The rate reduction was designed to boost the American economy, which has shown signs of slowing down in recent weeks, in a bid to prevent a much-feared “hard…

Zurich buys stake in Chinese insurance market

This content was published on Jan 5, 2001 Zurich’s investment in what is also China’s fourth largest life insurer amounts to $39 million (SFr62.79 million). Its participation has been carried out by a share capital increase of New China Life with three other foreign investors. The deal comes three months after the Swiss economics minister, Pascal Couchepin, signed an agreement on the sale…

Swiss palates warm to foreign beer

This content was published on Jan 5, 2001 The Swiss Brewers Association is playing down the ongoing slump, which has seen the sales of beer produced by local market leader, Feldschlösschen-Hürlimann, fall by 20 per cent over the past six years. The association’s director, Konrad Studerus, said the decline was being offset by increasing sales of beers produced locally under licence. “Thanks to…

Swiss create first investment fund for biomed stocks

This content was published on Jan 5, 2001 Adamant Biomedical Investments was formed by Swiss Life Asset Management – a wholly owned subsidiary of the Swiss Life insurance company – with three former partners of the Bellevue banking group. A statement on Friday said that Swiss Life Asset Management would own 51 per cent of the new company and that a future listing…

Diplomats in Switzerland get a change of clothes

This content was published on Jan 4, 2001 The first official measure taken by the new president, Moritz Leuenberger, means that the morning coat will no longer be required. Just before taking over the mainly ceremonial, annually rotating role of president, Leuenberger said he planned to simplify and modernise a variety of protocol rules. Ambassadors will now only have to wear a dark…

Swiss financial experts welcome Federal Reserve interest rate cut

This content was published on Jan 4, 2001 The Swiss markets backed this positive analysis, with the Zurich Swiss Exchange’s SMI closing on Thursday down just 2.1 points at 8116.8, a drop of only 0.03 per cent on Wednesday’s closing figure. The chief economist at UBS Warburg, Klaus Wellershoff, told swissinfo on Thursday that the Federal Reserve decision clearly demonstrated concern about the…

Swiss National Bank profits down by 60 per cent

This content was published on Jan 4, 2001 Whereas they brought profits of SFr4.1 billion in 1999, currency fluctuations led to a loss of SFr1.1 billion in 2000. A spokesman for the institution said the sharp rise in the value of the dollar against the franc was the main reason for the drop. Other currencies in which the bank holds reserves also fell…

Boom for Basel’s cross-border airport

This content was published on Jan 4, 2001 Just under 4 million people used the airport in 2000, an increase of five per cent on the previous year. However, that marked a considerable slowdown in the airport’s growth, after an unprecedented 18 per cent increase in 1999. The airport’s management said that the end of the Basel-New York service explained the lower 2000…

Emmi expands its catering operations

This content was published on Jan 4, 2001 A statement from Emmi said that it had acquired 100 per cent of Burra shares, strengthening its catering position in and around Zurich. No financial details of the transaction have been made public. Burra, which has an annual turnover of SFr33 million, ($20.5 million) is to remain independent, with management and staff unchanged. Emmi has…

PMR telecom network fails to attract bidders

This content was published on Jan 4, 2001 PMR is exclusively reserved for transport companies, taxis and other private services but not the public. The Federal Communications Office in Biel said it had received no applications by the December 22 deadline. The lack of serious interest follows last month’s failure of the auction for third generation telephone UMTS licences, which fetched SFr205 million…

Cluster: Archive

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Cluster: Archive

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The business week in Switzerland

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Zurich buys stake in Chinese insurance market

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Swiss palates warm to foreign beer

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Swiss create first investment fund for biomed stocks

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Diplomats in Switzerland get a change of clothes

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Swiss financial experts welcome Federal Reserve interest rate cut

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Swiss National Bank profits down by 60 per cent

More

Boom for Basel’s cross-border airport

More

Emmi expands its catering operations

More

PMR telecom network fails to attract bidders

Popular Stories

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