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Swiss banks under fire for dealings with Abacha family

This content was published on Sep 4, 2000 In a report released on Monday, the Swiss banking commission accused the banks of serious “violations and organisational shortcomings” for failing to detect and reject deposits from what it said were “dubious” sources. The commission’s chairman, Kurt Hauri, said the fact “that assets of dubious origin were deposited at Swiss banks is highly unsatisfactory and…

Statistics seen as vital tools in battle to improve lives

This content was published on Sep 4, 2000 Her appeal came at a major conference in Montreux on Monday on how statistics can help in the fight for human rights and against poverty. The gathering is being jointly organised by the International Association for Official Statistics and two Swiss government agencies. Some 700 delegates from 110 nations are meeting on the banks of…

Healthy demand pushes railways profits higher

This content was published on Sep 4, 2000 Turnover increased by 3.1 per cent over the comparable period last year to SFr2.905 billion. A statement on Monday from the Federal Railways headquarters in Berne said operating profit was SFr205.7 million. It added that the number of passengers had increased by 2.1 per cent to reach 126.7 million, while the number of staff had…

Ascom blames higher costs and acquisitions for mixed results

This content was published on Sep 4, 2000 However, in a statement from its Berne headquarters on Monday, Ascom said operating profit fell 13.2 per cent to SFr46 million. It said the drop was down to the “effect of acquisitions and disposals, as well as to increased development and marketing costs”. Ascom predicted an increase in group net income and turnover for the…

Swiss Post buys German mail company

This content was published on Sep 4, 2000 A statement from Swiss Post on Monday said the deal was retroactive to January 1 but gave no purchase price. It added that the acquisition was a logical step. “It consolidates Swiss Post’s position as leader of the Swiss market, strengthens its links with world networks and gives it a solid distribution structure in one…

Business Outlook

This content was published on Sep 3, 2000 Keenly awaited will be unemployment data for August, which will be released on Friday. Analysts are expecting another slight decrease in joblessness. In July, the number of people out of work fell slightly, but the overall rate remained unchanged at 1.8 per cent. On the corporate front, Zurich based department store, Jelmoli, will release its…

Shop till you drop – in dual purpose stores

This content was published on Sep 3, 2000 Zurich’s retail scene also has a wealth of innovative and exciting outlets – including an increasing number of dual purpose shops. One of the latest entrants onto the Zurich shopping list is Spheres, located in the industrial quarter of the city. Spheres combines not just a book shop but also a café and a theatre.…

Leuenberger warns of vote-related petrol price hike

This content was published on Sep 2, 2000 In an interview published in Saturday’s edition of the “Tribune de Genève” daily, Moritz Leuenberger said that if the energy taxes were to be rejected, a tax on CO-2 levels would in all likelihood have to be implemented. And that tax, said Leuenberger, would mean a 50 centimes rise at Swiss petrol pumps. On September…

The business week in review

This content was published on Sep 2, 2000 Credit Suisse on Wednesday announced it is to buy the American investment bank, Donaldson, Lufkin and Jenrette (DLJ). The deal will cost Credit Suisse around SFr20 billion ($11.5 billion), and comes two months after Switzerland’s biggest bank, UBS, bought the US broker, PaineWebber. On Thursday, Credit Suisse published its half-year figures, which showed net profits…

Start-ups face uphill battle to succeed in Switzerland

This content was published on Sep 2, 2000 Although the economy is growing solidly and unemployment has reached new lows, not everybody believes it’s a perfect world. For high-tech entrepreneurs, starting a business is still a tough proposition in the current legislative environment. Two major issues cloud their horizon: the minimum price of company shares and the lack of available work permits for…

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Swiss banks under fire for dealings with Abacha family

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Statistics seen as vital tools in battle to improve lives

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Healthy demand pushes railways profits higher

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Ascom blames higher costs and acquisitions for mixed results

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Swiss Post buys German mail company

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Business Outlook

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Shop till you drop – in dual purpose stores

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Leuenberger warns of vote-related petrol price hike

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The business week in review

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Start-ups face uphill battle to succeed in Switzerland

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