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The week in business

This content was published on Dec 9, 2000 The four licences went for only SFr205 million ($120 million), just SFr5 million above the minimum price set by the government. The sale was originally meant to take place in November but was postponed after many of the bidders dropped out. In the end just four companies were left competing for the same number of…

Museum splashes out on Titanic bear

This content was published on Dec 9, 2000 Christie’s auction house in London said on Thursday the Titanic bear – which fetched $131,937 (SFr223,000) – was a sought-after item and in excellent condition. It had been languishing in a cupboard after its owner had grown out of it, teddy expert Daniel Agnew told swissinfo. Christie’s had put a reserve price of $22,000 on…

UMTS technology promises Golden Age at a price

This content was published on Dec 9, 2000 “Hello, Mr Fischer. It’s the 25th February 2003 and the time is 7am. The weather is cloudy but it’s expected to brighten up this afternoon. The temperature is eight degrees Celsius. Your first appointment is at 9am with Mr Aroyo.” Those words are not spoken by a hyper-efficient butler, but by a mobile phone lying…

Swissair grounds A330s to check engines

This content was published on Dec 8, 2000 The Swiss carrier cancelled several long-haul flights after French authorities grounded various production series of the Airbus A330 plane powered by Pratt & Whitney engines. Swissair has a fleet of 15 such planes and announced late on Friday that it had suspended service with 11 of them. The remaining four were not affected. In Brussels,…

Central bank leaves interest rates unchanged

This content was published on Dec 8, 2000 Announcing his decision on Friday, the president of the central bank, Hans Meyer, said the three-month London Interbank Offered Rate (LIBOR) would remain the same at three to four per cent. Meyer said that, despite the strength of the Swiss economy, inflation was well under control, and “there was no sign of price instability in…

Switzerland to speak for Yugoslavia at IMF

This content was published on Dec 8, 2000 The finance ministry said on Friday that Yugoslavia would join a group of countries which Switzerland represents at the IMF and World Bank, following an offer made by the Swiss president, Adolf Ogi. The ministry added that Belgrade would receive technical and financial support from Switzerland in its efforts to become a fully-fledged member of…

Montreux makes merry the traditional way

This content was published on Dec 8, 2000 The president of the Montreux Christmas market, Pascal Bettex, stops and inhales the enticing smells of freshly baked biscuits and cakes coming from a chalet run by a confectioner from France’s Alsace region. More than 100 small wooden chalets have been set up on the Grand Rue and in the covered market place. “That’s what…

Unemployment stable at low level

This content was published on Dec 8, 2000 The largest increase in the number of jobless was in canton Ticino (up 0.6 per cent). The ministry said this was clearly related to the fact that November is traditionally a bad month for tourism in the Italian-speaking region. Canton Valais also saw an above-average increase (up 0.3 per cent). The authorities said that although…

ABB lands Mexican electricity contract

This content was published on Dec 7, 2000 ABB, which has its headquarters in canton Aargau, will be responsible for the planning, construction and financing of an electricity transmission system in Mexico. The 750 km high-voltage system includes advanced fibre optic links and integrated control systems, and will help meet Mexico’s steadily increasing demand for energy. The power transmission system is intended to…

Swissair considers role in Malaysian Airlines

This content was published on Dec 7, 2000 Swissair spokesman, Jean-Claude Donzel, confirmed on Thursday that talks were underway between the two national airlines. “We are in discussions with Malaysian Airlines on a close commercial cooperation,” he said. However, Donzel refused to confirm that Swissair was planning to buy into the Southeast Asian carrier. He was responding to comments by Malaysian Airlines chairman,…

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