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Swiss test rail limits with new super fleet

This content was published on May 15, 2010 The SFr1.9 billion ($1.7 billion) order for 59 double-deck tilting trains that reach top speeds of 200km/h is Swiss Federal Railways’ biggest-ever purchase, widely described within Switzerland as the “deal of the century”. Canadian–run Bombardier Transport won the tender process to build the fleet, ahead of bids by Germany’s Siemens and Stadler Rail, the one…

The World Cup, removing traces of apartheid

This content was published on May 15, 2010 With the football World Cup coming up, the government has invested massive sums to relieve road traffic congestion. Gauteng province covers just over 17,000 km2 in the north east of the country – less than two per cent of South Africa’s total land area. And yet, it is home to more than ten million people.…

Oil rig owner holds closed-door AGM

This content was published on May 14, 2010 Steven Newman ignored questions from reporters as he arrived and left the Park Hotel in Zug, a few kilometres from the company’s headquarters. The Transocean annual general meeting (AGM) came just days after Newman appeared before the United States Congress to explain his company’s involvement in the massive Gulf of Mexico oil spill. The Deepwater…

Gold and UBS bolster central bank books

This content was published on May 14, 2010 The Swiss National Bank (SNB) said on Friday that SFr921 million in profit had come in the wake of using funds to siphon off toxic assets from big bank UBS, which needed a bailout last year after taking huge losses in the subprime mortgage crisis. But large purchases of euros to suppress the value of…

Miserable weather casts cloud over holiday

This content was published on May 13, 2010 May this year has been exceptionally cold and wet, and even before the month is half way through, some places in southern Switzerland have already had more rain than the average for the entire month. In the space of 12 hours on Thursday 60 litres of rain per square metre fell in the area around…

Transocean, BP and Halliburton pass the buck

This content was published on May 12, 2010 Top representatives of three major players in the oil sector – the Swiss-based drilling contractor Transocean, BP and Halliburton – appeared before the Senate Committee on Energy and Natural Resources on Tuesday, and each cast blame on the other. The three companies are no strangers to behind-the-scenes lobbying in Washington, but it was a new…

Government woos parties over UBS data

This content was published on May 12, 2010 He said it made no sense to reject the deal, damaging the future of the bank and the Swiss economy. Merz presented a plan by the cabinet, including measures to curb excessive bonus payments, aimed at limiting the risks for the national economy caused by important banks, known as the “too big to fail” problem.…

Bombardier wins double-deck train order

This content was published on May 12, 2010 The trains – 50 of which are 200 metres in length and nine 100 metres – will include energy-efficient engines, electricity plugs and wireless internet in all carriages, roomier lavatories and at least one baby-changing table. There will also be a business section for meetings, video cameras to improve security and technology to prevent passengers’…

Swiss still intent on stabilising franc

This content was published on May 12, 2010 SNB chairman Philipp Hildebrand made the comment on Tuesday evening as the franc surged to record highs against the euro despite the introduction of massive bailout measures for indebted Eurozone nations – primarily Greece. The SNB is reported to have made wholesale purchases of the euro worth tens of billions of francs in a bid…

Gems fetch dazzling prices at auction

This content was published on May 12, 2010 The semi-annual sale at Sotheby’s made nearly double the low end of its pre-sale estimate, experts said. Top lot was a blue cushion-shaped diamond weighing 7.64 carats, mounted in a yellow gold and platinum ring, which went for SFr 8.9 million to an anonymous buyer. A ring by jeweller Alexandre Reza with a blue diamond…

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Swiss test rail limits with new super fleet

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The World Cup, removing traces of apartheid

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Oil rig owner holds closed-door AGM

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Gold and UBS bolster central bank books

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Miserable weather casts cloud over holiday

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Transocean, BP and Halliburton pass the buck

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Government woos parties over UBS data

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Bombardier wins double-deck train order

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Swiss still intent on stabilising franc

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Gems fetch dazzling prices at auction

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