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Firms drawn to ambitious green initiative

This content was published on Jan 21, 2008 The multi-billion dollar Masdar Initiative combines a carbon neutral city, a global research network and a venture capital fund. Swiss bank Credit Suisse is a major sponsor with other firms queuing up for a piece of the action. Two such companies will display their capabilities in the United Arab Emirate that hosts the world’s largest…

Prospecting for gas and oil in Lake Geneva

This content was published on Jan 20, 2008 This year Swiss firm Petrosvibri hopes to start drilling for gas deep beneath the lake’s crystal-clear waters opposite Montreux’s Chillon Castle. And French specialist oil companies are eager to begin looking for oil close to Geneva. With fossil fuel prices shooting through the roof – oil and gas have more than doubled since 2002 and…

Ethos calls for UBS chairman Ospel to go

This content was published on Jan 20, 2008 The director of the foundation, Dominique Biedermann, is calling for the bank’s chairman, Marcel Ospel, to step down at the annual shareholders’ meeting in April. UBS has been hit more than any other European bank by the United States subprime mortgage crisis, so far having to write down $14.5 billion (SFr15.9 billion). Biedermann told the…

Roche targets Basel for its European expansion

This content was published on Jan 18, 2008 The company said increased demand for biopharmaceuticals in its oncology division made the SFr480 ($435 million) investment necessary. It comes after a global review of manufacturing facilities. Some SFr150 million will be split between syringe–filling facilities at Kaiseraugst and at a site in the German city of Mannheim. Roche said the investment will provide stability…

Büsingen stands out, surrounded by Switzerland

This content was published on Jan 18, 2008 The picturesque village that lies on the River Rhine near Lake Constance is certainly out of the ordinary. It is a tiny German enclave totally surrounded by Switzerland. Politically, Büsingen belongs to Germany but economically it’s very Swiss. Local mayor Gunnar Lang, who was brought up in the village has been in the job for…

Swiss to head Gulf Air

This content was published on Jan 18, 2008 Näf joined the company as chief operating officer last April. At the time, another Swiss executive, André Dosé, was running the airline after leaving the helm of former national carrier Swiss International Airlines in 2004. Dosé only lasted four months as CEO before his contract was terminated by mutual agreement. Näf joined the company from…

Society drifting apart warns charity

This content was published on Jan 18, 2008 At its annual forum in Bern on Thursday, the non-governmental organisation focused on social inequality and solidarity, notably on education. The richest ten per cent of Swiss households had incomes six to ten times that of the poorest ten per cent, the forum heard. And just 0.14 per cent of Swiss taxpayers possessed more than…

Swatch sales worth nearly SFr6 billion

This content was published on Jan 18, 2008 Turnover reached SFr5.94 billion ($5.4 billion), an increase of over 17 per cent. Growth was particularly strong in the watch and jewellery sector, as well as in the movement and component market, with sales gaining more than 20 per cent over the previous year. Swatch expects an above-average increase in operating result and net income…

Expected hedge fund stampede turns to trickle

This content was published on Jan 17, 2008 Many wealthy investors are seeking new bases for their operations, but most are giving Switzerland a wide berth. This is because tax conditions here are, unusually, less advantageous than in other European countries. One financial newspaper predicted last year that “dozens and dozens” of hedge fund managers would move from London to Switzerland following changes…

World’s richest are also most pessimistic

This content was published on Jan 17, 2008 A higher percentage of respondents in western Europe and North America predicted that future generations would be both less safe and economically worse off than did their counterparts elsewhere in the world. A relatively high proportion – 71 per cent – of Africans were optimistic about the future, and 77 per cent of Latin American…

Internal: Archive

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Internal: Archive

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Firms drawn to ambitious green initiative

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Prospecting for gas and oil in Lake Geneva

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Ethos calls for UBS chairman Ospel to go

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Roche targets Basel for its European expansion

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Büsingen stands out, surrounded by Switzerland

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Swiss to head Gulf Air

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Society drifting apart warns charity

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Swatch sales worth nearly SFr6 billion

More

Expected hedge fund stampede turns to trickle

More

World’s richest are also most pessimistic

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