Switzerland

Credit Suisse returns to the black in second quarter

ZurichCredit Suisse - Swiss banking giant Credit Suisse said Thursday it returned to the black in the second quarter of 2008, with net earnings of 1.2 billion francs (1.16 billion dollars).

The figure was 62 per cent below the second-quarter 2007 result, but an improvement after the bank had lost 2.15 billion francs in the first quarter this year reflecting the turbulence in the subprime mortgage sector.

Credit Suisse said that in the second quarter all three of its divisions - private banking, investment banking and wealth management - operated at a profit.

Swiss-Libyan diplomatic spat over arrest of Gaddafi son

Berne - Switzerland has advised its citizens not to visit Libya because of a row triggered by the temporary arrest of Moammer Gaddafi's son, officials said Wednesday.

The Swiss Foreign Ministry voiced concern at what it described as "alarming" retaliatory measures introduced by the Libyan leader in the wake of his son Hannibal's detention in Geneva a week ago.

Since last Thursday Gaddafi's government has detained Swiss citizens in Libya, demanded the closure of Swiss firms present in the country and recalled its diplomatic representatives to Switzerland, the ministry said.

Decisive ministers' meeting on WTO's Doha round starts in Geneva

Geneva - Decisive ministers' meeting on WTO's Doha round starts in GenevaRepresentatives of World Trade Organization (WTO) member countries began a key meeting in Geneva Monday in an attempt to revive the stalled Doha Round of talks on liberalizing world trade that began seven years ago. 

The talks are centred on resolving an impasse over barriers to trade in industrial and agricultural goods on world markets by the end of the week. 

One aim is to open markets for agricultural goods from the world's poorest countries. 

Mountain railways in Italy, Switzerland, get world nod

Alpine railwaysWashington/Quebec City - A stretch of Alpine railways that connect Thusis in Switzerland via St Moritz to Tirano in Italy were added to the list of World Heritage sites by UNESCO.

The 128-kilometre rail designation includes the Albula line and the Bernina pass lines operated by Switzerland's Rhaetian Railway. The lines pass through Alpine mountain towns and landscape and through the language divides of German, Romansh and Italian cultures.

Swiss designer Wettstein dead at 50

Zurich - Swiss interior designer Hannes Wettstein has died at age 50, friends of the family confirmed Sunday following a newspaper report. 

Swiss Mindset to build super lightweight eco-car in 2009

Lucerne, Switzerland - The Swiss Mindset AG company has announced that it is planning to produce its super lightweight eco- car fitted with hybrid drive, two gull-wing doors and narrow 22-inch wheels by 2009.

Designed by Volkswagen's former design director, Murat Gunak, who was appointed Mindset CEO, the prototype features design aspects from the hatchback and coupe with a long bonnet and rectangular rear with glass roof.

The round headlights are similar to the sports car design of the 1950s and 1960s.

Mindset, a company set up by Spirt Avert AG, is engaged in the development of a so-called "alternative automobile concept" at a time of rising oil prices and widespread measures to reduce carbon dioxide emissions in Europe.

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