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Swiss banks credited with leading battle against money laundering

This content was published on Oct 23, 2000 The FT says a dozen of the world’s biggest banks, including Switzerland’s UBS and Credit Suisse, have agreed to the guidelines in an effort to head off criticism of their involvement in high profile money laundering cases. The paper credits Swiss banks with leading the initiative, and says the guidelines have been put together in…

Swiss stock exchange firms up blue chip deal with British partner

This content was published on Oct 23, 2000 Under the agreement, the new exchange is expected to be operational on the SWX’s EBS trading platform by the end of next March. SWX will then cease trading in all its Swiss blue chip shares. “The creation of virt-x is a major step forward for pan-European equity trading,” said Swiss Exchange chief, Antoinette Hunziker-Ebneter. “It…

Crossair moots job cuts in bid to save money

This content was published on Oct 23, 2000 The carrier, which is part of the SAirGroup, said it is studying downsizing possibilities because of the economic situation and the refusal of the majority of its pilots to accept a new collective working agreement. The company is thinking of discontinuing services on some loss-making routes. This would mean selling between five and 10 Saab…

Economics minister on official visit to Spain

This content was published on Oct 23, 2000 Last year, Spain was Switzerland’s ninth largest trading partner, taking in Swiss exports worth SFr3.4 billion ($1.9 billion). This year trade has continued to grow; at the end of August Swiss exports to Spain had increased by 11.2 per cent, while imports from Spain were up by 17.3 per cent. “Spain has experienced rapid economic…

Swiss banks lead charge against dirty money

This content was published on Oct 23, 2000 A package of measures to combat money laundering will be announced at the beginning of next week. Switzerland’s largest bank, UBS, confirmed on Monday the 12 banks had agreed to further the fight against dubious funds. The measures are known as the “Wolfsberg guidelines”, after the UBS training centre in Switzerland where they were agreed…

International meeting highlights protective role of alpine forests

This content was published on Oct 23, 2000 Experts from seven countries kicked off their meeting on Monday to review measures taken to strengthen and extend their alpine forests, and to try to prevent devastating mudslides and avalanches. The three-day meeting in Maienfeld, in canton Graubünden, comes only a week after the dangers of living in the mountains were highlighted by the deaths…

First flood and mudslide victims buried

This content was published on Oct 22, 2000 A 33-year-old man was buried on Saturday in the village of Simplon-Dorf, while the 70-year-old woman, who was found last weekend in Neubrück, has been buried in Stalden. Funeral services were held on Friday in the Valley of Goms for a 43-year-old woman who was killed in Gondo, while another victim from the village has…

Business week ahead

This content was published on Oct 22, 2000 The specialty chemicals group, Clariant, is coming through with sales figures for the first nine months of the year. All chemical companies are suffering from the high price of oil so analysts will be eager to see the results. They expect an increase of around five per cent year on year. Earnings will be released…

Vodafone and Deutsche Telekom vie for stake in Swisscom

This content was published on Oct 22, 2000 Vodafone has reportedly made the better offer so far. A spokesman for Swisscom, Christian Neuhaus, said the company has held talks with several bidders but he refused to comment on industry rumours. There has been speculation that a decision could come by the end of the month. A stake in Swisscom Mobile would allow either…

Crossair conflict deepens

This content was published on Oct 22, 2000 In the “SonntagsZeitung” newspaper, the head of SAirGroup, Philippe Bruggisser, said that further adjustments to the new collective contract were not being considered. SAirGroup has a majority stake in Crossair. At the beginning of the year, the Basel-based short-haul carrier suffered a loss of SFr6.1 million ($3.4 million). Bruggisser argued that, at present, “Crossair is…

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Swiss banks credited with leading battle against money laundering

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Swiss stock exchange firms up blue chip deal with British partner

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Crossair moots job cuts in bid to save money

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Economics minister on official visit to Spain

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Swiss banks lead charge against dirty money

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International meeting highlights protective role of alpine forests

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First flood and mudslide victims buried

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Business week ahead

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Vodafone and Deutsche Telekom vie for stake in Swisscom

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Crossair conflict deepens

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