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Booming summer takes pressure off tourism operators

This content was published on Dec 18, 2000 The latest figures, released by the federal statistics office on Monday, are welcome news for tourist operators who fear that unseasonably warm weather this winter could dent visitor numbers. The number of overnight stays during the summer rose by 823,000 over 1999, an increase of 4.5 per cent. The biggest rises were recorded in central…

Swiss franc gains ground against the dollar

This content was published on Dec 18, 2000 The dollar has fallen from 14-year highs against the franc over concerns that the slowdown in the US economy could turn into a full-blown recession. Recent volatility on the tech-heavy Nasdaq and Dow Jones stock markets, as well as speculation of a US interest rate cut to fuel growth is weighing on the dollar. Financial…

Business outlook

This content was published on Dec 17, 2000 Trading volume will be thin on the SMI and the index is likely to remain in a narrow trading range between 7900 and 8100. There were some hopes that the SMI might stage a final year-end push after the United States presidential election was finally settled but a clutch of profit warnings from blue chip…

Swiss firm uses the Net to close in on art thieves

This content was published on Dec 17, 2000 There was a staggering 80 per cent increase in the number of art objects stolen between 1997 and 1999. Only three per cent of them have been recovered, and even then it is difficult to prove who the owner is. Most of the art treasures stolen in Europe have been sold in the United States…

Geneva wants to take the pressure off Zurich airport

This content was published on Dec 17, 2000 Carlo Lamprecht, Geneva’s economic head, confirmed reports that he had been in contact with his Zurich counterpart, Ruedi Jeker. He said he had suggested improving shuttle links between the two cities’ airports. Resistance has been fierce from those living around Kloten. Last week the Federal Court rejected an appeal from environmental and residents’ groups against…

SAirGroup breaks off Alitalia talks

This content was published on Dec 16, 2000 Confirming a report in the German-language newspaper “Blick”, spokesman Jean-Claude Donzel said the group’s current priority is its investments in Belgium’s Sabena and in French airlines AOM, Air Littoral and Air Liberté. SAirGroup had held discussions with Alitalia after Royal Dutch KLM broke off its alliance with the Italian carrier earlier this year. Air France…

Danish trees a Christmas hit in Swiss homes

This content was published on Dec 16, 2000 The Scandinavian country is the market leader in Switzerland, ahead of Germany and France. In 1999 the Swiss imported 3,000 tonnes of Danish trees, out of total imports of 4,500 tonnes. Last year consumers spent SFr8.5 million on Christmas trees. The Nordmann pine, which its Danish producers call the “Rolls-Royce of Christmas trees”, is a…

The business week in Switzerland

This content was published on Dec 16, 2000 Swiss traders were more interested in a report from the Paris-based Organisation for Economic Cooperation and Development (OECD) on the Swiss economy. The OECD gave Switzerland high marks in its latest survey, saying Switzerland’s economic growth in 2000 will be the strongest in 10 years and is likely to be followed by robust activity over…

Cyber thieves hit UBS

This content was published on Dec 16, 2000 A UBS spokeswoman said that following reports of a virus in the bank’s computer system a shortfall was noticed in the three accounts. The clients concerned had received full compensation. UBS has made a complaint to the authorities, which have launched an investigation. The virtual raid is the latest in a series to hit UBS…

Swiss firms fall behind in world rankings

This content was published on Dec 15, 2000 More than 700 company heads were questioned for the survey, which was published in Friday’s edition of the “Financial Times Deutschland”. On the basis of its findings, only two Swiss companies – the food giant Nestlé and the engineering group ABB – were listed among the top 50. Although better placed than all other Swiss…

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