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Government sticks with nuclear power

This content was published on Feb 21, 2007 The authorities announced on Wednesday their new energy policy, which also focuses on efficiency, renewable sources and large gas-fired power plants. “The replacement or construction of new nuclear power stations is necessary,” said Energy Minister Moritz Leuenberger. The government predicts that, due to growing demand, current measures will be unable to guarantee Switzerland’s medium to…

Schindler hit with massive fine

This content was published on Feb 21, 2007 The Lucerne-based elevator and escalator-maker has announced it will review the decision before it makes its appeal, but remains convinced the €144 million (SFr234 million) penalty it faces is not justified. The accused companies fixed prices in Belgium, Germany, Luxembourg and the Netherlands from 1995 to 2004 according to the commission. It added that the…

Schengen security to inflate Zurich airport tax

This content was published on Feb 20, 2007 Improved security and redevelopment at Kloten in Zurich will cost SFr300 million over three years, and airport passengers will have to pay an extra SFr4 ($3.20) extra in duties from July. Airport operators, Unique, announced restructuring plans to create separate Schengen and non-Schengen passengers on Tuesday. Swiss voters agreed to relax border controls with other…

Migrant workers arrive with good marks

This content was published on Feb 20, 2007 Over the past decade, more than three quarters of migrant workers have arrived with an upper secondary school diploma or a university degree in their pocket, especially those from northern and western Europe. At the end of June last year, 850,000 foreigners were working in Switzerland, an increase of 2.4 per cent over 2005. Two…

Givaudan profit stays steady as group expands

This content was published on Feb 20, 2007 The result was just below market expectations but the Swiss company, which is based near Geneva, said it was “well positioned” for another good result in 2007. Sales increased by 4.7 per cent in Swiss francs to SFr2.91billion, in line with forecasts of SFr2.9 billion. Analysts polled by Reuters had expected net income to increase…

Clariant pays cost of restructuring programme

This content was published on Feb 20, 2007 But because of the firm’s deep restructuring programme, it posted a loss of SFr78 million when all operations – current and discontinued – are taken into account. Clariant saw sales rise for the year to SFr8.1 billion, with 7 per cent growth in Swiss francs. Overall, selling prices remained stable. “We achieved robust top-line growth…

Tiny country shoulders big burden

This content was published on Feb 19, 2007 This sector has become a necessity over the years, with the Swiss economy relying heavily on exports of finished products and machines. Reinsurance is what the name says: cover for insurance companies. This allows these firms to unfetter themselves from some of the risks (financial loss, weather, epidemics) inherent to the contracts signed with clients.…

Converium turns down takeover by Scor

This content was published on Feb 19, 2007 Converium, which has been fighting to strengthen its position in the market after almost collapsing in 2004, said a proposed weekend bid of SFr21 per share did not reflect its return to financial health. Scor said it had already bought a 32.9 per cent stake in Converium and confirmed that the Swiss company had rejected…

Snow future for alpine tourism?

This content was published on Feb 19, 2007 The nine destinations in the Bernese Alps commissioned a study by Bern University, which will release its findings next month and a series of recommendations. The study, “Climate change and tourism – an analysis of scenarios for the Bernese Oberland up to the year 2030” points out that the effects are manifold and complex. They…

Swiss say no to tax breaks and EU pressure

This content was published on Feb 18, 2007 Three-quarters said they opposed any interference from Brussels, but at the same time 63 per cent rejected the practice by some cantons of granting generous tax breaks to holding companies. The poll of more than 1,000 people was commissioned by the SonntagsZeitung newspaper. Its publication on Sunday followed a week of intense debate in the…

Internal: Archive

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Internal: Archive

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Government sticks with nuclear power

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Schindler hit with massive fine

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Schengen security to inflate Zurich airport tax

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Migrant workers arrive with good marks

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Givaudan profit stays steady as group expands

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Clariant pays cost of restructuring programme

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Tiny country shoulders big burden

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Converium turns down takeover by Scor

More

Snow future for alpine tourism?

More

Swiss say no to tax breaks and EU pressure

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