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Swiss economy faces better future

This content was published on Dec 14, 2000 The report, released in Paris on Thursday, says Switzerland’s economic growth in 2000 will be the strongest for 10 years “and is likely to be followed by robust activity in 2001 and 2002”. However, it warns: “Against the background of lacklustre growth in total factor productivity in the 1990s[,] estimates of Switzerland’s longer-term potential growth…

Crossair warns of no profit for 2000

This content was published on Dec 14, 2000 “After overall disappointing results in November, we can now no longer expect a positive result for 2000,” the company said in a statement on Thursday. Higher fuel prices have been affecting profits throughout the airline industry. The airline said that high fuel prices and the dollar’s advance to a 14-year high against the Swiss franc…

Jelmoli ups stake in real estate

This content was published on Dec 14, 2000 The purchase will take effect from the start of 2001, and Jelmoli will take complete control of Tivona’s share capital in mid-2003, via a merger. Jelmoli, better known for running Zurich’s premier department store of the same name, said in a statement that it expected rental income from its real estate activities to double over…

Electricity market to be liberalised

This content was published on Dec 13, 2000 The new law is in line with the government’s policy of bringing Swiss legislation into line with that of the European Union. Under the bill, consumers will be able to choose their electricity supplier within six years of the legislation being put into effect. Utilities will also be able to shop around for cheaper electricity.…

Sulzer takes steps to protect employees after sell off

This content was published on Dec 13, 2000 Some 4,200 employees in Switzerland are likely to be affected by Sulzer’s decision in September to sell off five of its divisions so it can concentrate on medical devices, and surface and materials technology. A statement on Wednesday from Sulzer headquarters in Winterthur said the declaration had been signed by the management, the umbrella organisation…

FIFA to move to new location near Zurich airport

This content was published on Dec 13, 2000 The plans were revealed at a news conference on Wednesday given by FIFA president, Joseph Blatter, and the SAirGroup president and chief executive, Philippe Bruggisser. The construction project is to be headed by AviReal, an SAirGroup subsidiary active in real estate. Blatter said the decision was motivated by the organisation’s need for better access to…

Swiss trains to undergo major face-lift

This content was published on Dec 13, 2000 More than 500 coaches will be completely renovated at the company’s carriage workshops in Olten, canton Solothurn. Presenting the first of the renovated coaches on Wednesday, the Federal Railways said that improvements would be visible both inside and outside. The most striking change is that the traditional green colour of the coaches will be replaced…

Parliament approves balanced budget for 2001

This content was published on Dec 13, 2000 The budget is based on revenue of just under SFr49 billion ($28.5 billion) and spending of almost as much. The figures do not include SFr205 million in revenue from the recent sale of four UMTS mobile phone licences. After several debates in parliament, the House of Representatives on Wednesday followed the Senate in approving the…

Sunrise boss defects to Ascom

This content was published on Dec 13, 2000 The 46-year-old Fischer will take over from Ascom boss, Hans-Ulrich Schroeder, who has run the Bern-based concern since 1995. Ascom president, Fred Rüssli, said he was looking forward to working closely with Fischer. “The chemistry between us works.” The markets applauded Fischer’s appointment, saying any move to inject fresh blood into Ascom would be good…

Three feared dead after huge landslide hits Valais

This content was published on Dec 13, 2000 Police said an “enormous” amount of mud and rock rolled 1,000 metres down into the valley, sweeping away two chalets and a number of farm buildings late on Tuesday. The landslide – which occurred in the area of Condémine-Fey – swept into the Rhone river, causing it to flood for a time. Police said the…

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