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An ambivalent relationship with Switzerland

This content was published on Mar 6, 2003 In May 1997, Eizenstat released a study on Nazi Germany’s use of looted gold. His foreword was taken by the Swiss to be an attack on them for having allegedly prolonged the Second World War. However, Eizenstat insists that this was a misinterpretation. While praising Switzerland for the lessons it has learned from its wartime…

Central bank slashes interest rates

This content was published on Mar 6, 2003 The Bank lopped half a percentage point off its key short-term interest rate, effectively pushing rates down to just a quarter of one per cent. The cut came just after the European Central Bank reduced its rates by 0.25 per cent, and earned the Swiss bank plaudits for its bold move. “The ECB cut was…

Swiss looking to cut costs

This content was published on Mar 6, 2003 But, he said, cost-cutting measures could only be implemented after Swiss had renegotiated contracts with its suppliers. Bouw told swissinfo he regretted having to cut staff at Swiss and reduce the size of the fleet in February. He added that the decision to modify the Eurohub strategy at Basel airport and cut capacity by one…

Swiss Life warns of record loss

This content was published on Mar 6, 2003 The figure is double the SFr839 million loss forecast by analysts. Switzerland’s largest life insurer said market uncertainty had hit its investments and resulted in one-off costs. Company figures were also affected by restructuring costs and heavy losses in the core insurance business and at the Banca del Gottardo private banking arm, Swiss Life said…

Swiss seals deal with Japan Airlines

This content was published on Mar 6, 2003 The deal, which was signed in Tokyo by JAL CEO Isao Kaneko and Swiss chairman Pieter Bouw, comes days after Swiss secured a similar accord with Qantas. Bouw told swissinfo that Asia was the fastest growing aviation market and “that is why we are paying quite some attention to establishing bilateral relationships with the Asian…

Enthusiasts flock to car show despite downturn

This content was published on Mar 5, 2003 But behind the bright lights and sleek bodies the industry is battling to cope with falling sales and the threat of a deeper downturn if war breaks out in Iraq. Opening the event at Geneva’s Palexpo, Swiss president Pascal Couchepin said he hoped that people buying new cars would take environmental issues into consideration. “Is…

Angels flock at SWX

This content was published on Mar 5, 2003 Some 100 business angels flocked to SWX to learn about new investment opportunities and to select a winning business plan, as well as the angel of the year. This region’s Business Angel of the Year is described by his peers as “a man of action”. Georg H Endress, a sprightly senior citizen, is co-founder and…

Doctors warn of future shortage

This content was published on Mar 5, 2003 Junior doctors are warning that a drop in medical students and a scarcity of doctors in other European countries will have telling consequences on the profession in Switzerland. The Bern branch of Switzerland’s Junior Doctors Association has launched a campaign to increase public awareness of an issue that it maintains could become a major problem…

Sulzer records higher 2002 profit

This content was published on Mar 5, 2003 Sulzer said profit had jumped to SFr83 million ($62 million) from a breakeven result of SFr2 million the year before. But consolidated operating income during the same period was down two per cent on the previous year at SFr143 million ($108 million). Sales during the period also fell slightly, to SFr1.946 billion from SFr1.965 billion…

Givaudan profits slip

This content was published on Mar 5, 2003 The company blamed the worse than expected result on impairment charges on its investment portfolio. But Givaudan results issued on Wednesday showed an 11 per cent increase in turnover to SFr2.67 billion. Sales in 2002 were boosted by the company’s acquisition of Nestlé’s Food Ingredients Specialties business (FIS). The Geneva-based company said profits had been…

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An ambivalent relationship with Switzerland

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Central bank slashes interest rates

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Swiss looking to cut costs

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Swiss Life warns of record loss

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Swiss seals deal with Japan Airlines

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Enthusiasts flock to car show despite downturn

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Angels flock at SWX

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Doctors warn of future shortage

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Sulzer records higher 2002 profit

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Givaudan profits slip

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