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New price war in store as mobile phone competition hots up

This content was published on Apr 27, 2000 Competition in Switzerland’s mobile telecommunications sector is hotting up with two new service providers due to enter the fray. Neither Sunrise nor Tele 2 have their own mobile networks but they’ve struck deals with Swisscom and Orange to offer their customers pre-paid mobile services. From next month, Tele 2 mobile customers will be able to…

UN report says problems of ageing population exaggerated

This content was published on Apr 27, 2000 The Geneva-based United Nations labour agency has published a book detailing the state of the world’s social security and pensions systems. It outlines how western countries should deal with their ageing populations, although its authors suggests the problem is exaggerated. The timing of the report, ‘Social Security Pensions – Development and Reform’, is important, coming…

Negative trade balance due to high oil prices

This content was published on Apr 27, 2000 Switzerland’s trade balance with the rest of the world showed a deficit of SFr333 million for March, reflecting higher oil prices and the purchase of new aircraft for Crossair. The figures more than wiped out February’s surplus of Sfr76 million. The total deficit for the first quarter of the year stands at SFr386 million compared…

Mixed results in survey of Alpine tunnel safety

This content was published on Apr 26, 2000 A survey of tunnel safety in eight European countries, including Switzerland, has just been published in the wake of last year’s disastrous fires in the Mont Blanc tunnel, linking France and Italy, and Austria’s Tauern tunnel which killed a total of 51 people. The results, published in Brussels, show a definite need for improvements. Of…

SAir Group gets go-ahead for Belgian airline take-over

This content was published on Apr 26, 2000 The Belgian government has given Switzerland’s SAir group, which owns the national airline, Swissair, the go-ahead to take over the Belgian carrier, Sabena. The agreement was signed in Brussels by the entreprise minister, Rik Daems, and the chairman of SAir, Hannes Goetz. SAir, which held 49.5 per cent of Sabena’s shares, is set to increase…

Swiss franc nosedives against dollar

This content was published on Apr 26, 2000 The Swiss franc has hit a ten-year low against the dollar, which is trading above SFr1.70 for the first time since June 1989. The franc is being dragged lower in the wake of a plunging euro, which has dropped to another all time low against the US currency. The single European currency used by 11…

Zschokke shows evidence of recovery in construction industry

This content was published on Apr 26, 2000 One of Switzerland’s largest construction groups, the Geneva-based Zschokke company, has announced a three-fold increase in profits in 1999 compared to the previous year. The result is further evidence that the industry, one of the worst affected by the recession in the 1990s, is now firmly on the path to recovery. Zschokke on Wednesday unveiled…

Zurich bourse awaits results of merger talks

This content was published on Apr 25, 2000 The Swiss stock exchange is nervously awaiting the outcome of merger negotiations between its competitors in London and Frankfurt. The discussions have entered a crucial phase, with the German bourse keen to have the merger agreed before shareholder meeting on May 4. Analysts say the partnership, if it happens, will probably see blue chips traded…

Watch industry continues upwards trend

This content was published on Apr 25, 2000 The Swiss watch industry continues to boom, with latest figures showing “a flying start to the new year”. The Federation of the Swiss Watch Industry in Biel reports that exports soared to just under SFr751 million in February, a year-on-year rise of over 23 per cent. “The euphoric period which began for the Swiss watch…

Swatch Group adds Jaquet-Droz to its luxury sector

This content was published on Apr 25, 2000 Switzerland’s largest watchmaking concern, the Swatch Group, has purchased another luxury watch manufacturer – Montres Jaquet-Droz, based near Lausanne. A statement from the group’s headquarters in Biel gave no details of the purchase price but said that all the company’s employees would be maintained. “This acquisition fits very well in the luxury segment of the…

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New price war in store as mobile phone competition hots up

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UN report says problems of ageing population exaggerated

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Negative trade balance due to high oil prices

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Mixed results in survey of Alpine tunnel safety

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SAir Group gets go-ahead for Belgian airline take-over

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Swiss franc nosedives against dollar

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Zschokke shows evidence of recovery in construction industry

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Zurich bourse awaits results of merger talks

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Watch industry continues upwards trend

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Swatch Group adds Jaquet-Droz to its luxury sector

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