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Swisscom executive buys out subsidiary

This content was published on Mar 15, 2000 A Swisscom executive has staged a partial management buy-out of one of the company’s subsidiaries. The former head of Swisscom Mobile, Walter Heutschi (pictured), is to take control of Comfone, which focuses on international roaming. Comfone’s area of business – international roaming – enables customers to use their mobile phones across country borders. Swisscom will…

Nestlé upbeat about prospects for coming year

This content was published on Mar 15, 2000 The world’s largest food group, Nestlé, has given an upbeat assessment of its prospects for the coming year. It said 1999 sales were hard hit by currency fluctuations in Brazil, but that it was looking forward to continued growth in its bottled water division. In a letter to shareholders, Nestlé said it was “moderately optimistic”…

Parliament debates electricity liberalisation

This content was published on Mar 15, 2000 The government’s proposals for liberalising the electricity market in Switzerland are facing a tough challenge in parliament. The law has taken years to draft, but is expected to be trimmed, if not even drastically altered, by the assembly. The government wants both industrial consumers and private households to have a choice in whom they draw…

New study reveals extent of anti-semitism in Switzerland

This content was published on Mar 15, 2000 A new study has found that a large minority of Swiss people are anti-semitic, with 16 per cent admitting they have strongly negative feelings towards Jewish people. The survey canvassed the opinions of 1,200 people by telephone. Participants were asked several questions, including what they understood by the term “Holocaust”; whether they thought Switzerland had…

Kuoni results soar to all time high

This content was published on Mar 15, 2000 The biggest Swiss travel company, Kuoni, has lived up to expectations to reach a record performance over 1999. Turnover rose by a fifth to SFr3.5 billion, despite the failed bid to merge with its British counterpart, First Choice. The Zurich-based firm said its overall company results before tax soared to an all-time high of SFr152.8…

Parliament gives cautious welcome to electricity liberalisation

This content was published on Mar 15, 2000 The House of Representatives has put its weight behind the progressive liberalisation of Switzerland’s electricity market. But parliamentarians stressed they did not want any new company to monopolise the industry and allow bosses to cash in on the sudden opening up of the market. In a wide-ranging debate on electricity liberalisation, parliamentarians agreed to the…

Roche given go-ahead to reduce stake in US subsidiary

This content was published on Mar 15, 2000 The Swiss pharmaceutical giant, Roche, has been given the go-ahead to sell up to 19 million shares in the American biotechnology company, Genentech. At current prices, Roche stands to net more than SFr5 billion. The US Securities and Exchange Commission, which oversees trading on Wall Street, raised no objections to Roche’s plans to divest itself…

Swiss franc falls to lowest level in three years

This content was published on Mar 14, 2000 The value of the Swiss franc continued to decline last month, falling to its lowest level for three years. The currency has lost most ground against the US dollar. The Swiss franc’s index rating against the currencies of its main competitors fell 0.3 per cent in February to 150.0. The fall against the US dollar…

Western Switzerland’s answer to Silicon Valley gets another boost

This content was published on Mar 14, 2000 French-speaking Switzerland’s own version of California’s Silicon Valley, is situated next to the Federal Institute of Technology in Lausanne, and is investing millions of francs in a major expansion programme. The Science Park Foundation was created in 1991 and is aimed at fostering and helping new high-tech companies to get off the ground using academic…

Credit Suisse posts record profits

This content was published on Mar 14, 2000 The Credit Suisse group has announced record profits for last year. Switzerland’s second largest bank said net profits rose by 70 per cent to SFr5.2 billion. Credit Suisse said that all its divisions had notched up record profits last year, and that its share dividend would be increased from five to seven francs. Financial analysts…

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Swisscom executive buys out subsidiary

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Nestlé upbeat about prospects for coming year

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Parliament debates electricity liberalisation

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New study reveals extent of anti-semitism in Switzerland

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Kuoni results soar to all time high

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Parliament gives cautious welcome to electricity liberalisation

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Roche given go-ahead to reduce stake in US subsidiary

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Swiss franc falls to lowest level in three years

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Western Switzerland’s answer to Silicon Valley gets another boost

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Credit Suisse posts record profits

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