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Galenica sales pass billion-franc threshold

This content was published on Sep 12, 2000 Net profit rose 22.9 per cent to SFr27.7 million. Based on the results, the group sounded an optimistic note for the year as a whole. “Galenica expects that its full year 2000 profit will be over 10 per cent higher for the fifth time in a row,” said a company statement. Galenica plans to expand…

Distribution plan to be unveiled for Holocaust survivors

This content was published on Sep 11, 2000 The United States district judge who approved the settlement, Edward Korman, was also due to announce a final list of Swiss companies, which will be included in the agreement. Swiss companies that employed slave labour during the Second World War were invited to join the settlement in August in exchange for immunity from future lawsuits.…

Crossair pilots win better terms

This content was published on Sep 11, 2000 The Association of Crossair Cockpit Personnel announced on Monday that the improved contract was a success for both the pilots and Crossair, which is part of the SAirGroup. The new five-year contract includes salaries adjusted to market levels, improved insurance cover, more holidays and more days off. It also offers additional payments for overtime and…

Opec decision to boost oil output gets lukewarm response

This content was published on Sep 11, 2000 Oil prices have surged to 10-year highs in recent weeks to around $35 dollars a barrel, raising fears of a global economic slowdown. There are also concerns that low fuel stocks could trigger shortages as the northern hemisphere moves into winter. Opec oil ministers meeting in Vienna on Sunday said they wanted to see prices…

BIS proposes share buy-back programme

This content was published on Sep 11, 2000 The Basel-based organisation will offer SFr16,000 per share. An extraordinary general meeting is to be held on January 8 to vote on the proposal. BIS shares are traded in Switzerland and Paris. They last traded at SFr8,195 in Switzerland and at 4,050 euros in Paris. Trading was suspended on Monday but will resume on Tuesday.…

Leading economists upbeat on Swiss-US trade

This content was published on Sep 11, 2000 The US is Switzerland’s second most important export market after Germany, and the US is also the most important direct investor into Switzerland. In total some 300,000 jobs, in both the US and Switzerland, are dependent on mutual investments between the two countries. Alois Bischofsberger, chief economist at Credit Suisse, gave an address about direct…

Market action set to gather pace

This content was published on Sep 10, 2000 The dollar’s surge against both the euro and the Swiss franc was a feature of the markets last week. Dealers are expecting the trend to continue over the coming sessions as sentiment on the market continues to support the dollar and knock the euro lower. Despite the failure of last week’s pleasing Swiss jobless figures…

Switzerland ups the stakes in casino gambling

This content was published on Sep 10, 2000 Since April, companies have been allowed to apply for a limited number of licences for high-stake casinos. Currently the maximum betting limit in Switzerland is SFr5 ($2.91). The prospect of Las Vegas-style gambling has many businesses and cities, which are bidding for licences, licking their lips. And, ironically, they may have found an unlikely supporter…

Swiss franc loses ground against dollar, pound and yen

This content was published on Sep 9, 2000 Last month, the franc lost 3.9 per cent of its value against the US dollar according to the State Secretariat for Economic Affairs (SECO), 3.7 per cent against the yen and 2.6 per cent against the British pound. Versus European currencies included in the euro zone, the franc has remained stable. The index of the…

Swiss banks under the spotlight

This content was published on Sep 9, 2000 In a report released on Monday, the Swiss Federal Banking Commission accused the banks of serious “violations and organisational shortcomings” for failing to detect and reject deposits from what it said were “dubious” sources. Banks remained in the news on Thursday as The Financial Action Task Force on Money Laundering, an inter-governmental body based in…

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Galenica sales pass billion-franc threshold

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Distribution plan to be unveiled for Holocaust survivors

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Crossair pilots win better terms

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Opec decision to boost oil output gets lukewarm response

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BIS proposes share buy-back programme

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Leading economists upbeat on Swiss-US trade

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Market action set to gather pace

More

Switzerland ups the stakes in casino gambling

More

Swiss franc loses ground against dollar, pound and yen

More

Swiss banks under the spotlight

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