Geneva - The world's largest maker of fragrances and flavours, Givaudan, said Tuesday it consolidated its business operations in 2008 and turned a profit of 111 million Swiss francs (95 million dollars).

The company said in a statement that this was a rise of nearly 20 per cent over 2007, when it made 93 million francs.

Overall, though, sales for the Swiss company fell by 1.1 per cent when calculated in francs, reaching just over 4 billion.

The rise in the price of raw materials in early 2008 cut into the company's gross profit margin and it said the subsequent decrease in supply costs, which began towards the end of the year, would only be felt later in 2009.

Geneva - The United Nation's refugee agency (UNHCR) offered Tuesday to support the European Commission in its proposition for establishing a European Asylum Support Office.

The executive wing of the EU will publish a proposal for such an office on Wednesday, in an attempt to help develop a more standardized refugee policy among member states.

Asylum seekers from countries like Iraq, Somalia and Afghanistan are treated very differently by EU members, Ron Redmond, a UNHCR spokesman, said.

Switzerland - Elevator and escalator manufacturer Schindler announced Tuesday that it had a record year in 2008, making a net profit of 634 million Swiss francs (541 million dollars), more than double the previous year's figure.

The earnings - up from 278 million francs net profit in 2007 - cam on turnover of 14 billion francs, Schindler said.

The company said its main elevators and escalators business increased operating profit by 11.6 per cent to 895 million francs. The value of new orders rose by 2.6 per cent to 9.25 billion francs.

Geneva  - A Geneva-based semiconductor company said Monday it won a ruling by a US body ordering Credit Suisse to pay damages worth about 406 million dollars for unauthorized investments.

STMicroelectronics filed arbitration against the bank last winter, on the grounds that Credit Suisse bought auction rate securities, including collateralized debt obligations, "instead of the federally guaranteed student loan securities that had been specifically mandated by the company for purchase."

Geneva - A Geneva-based semiconductor company said Monday it won a ruling by a US body ordering Credit Suisse to pay damages worth about 406 million dollars for unauthorized investments.

STMicroelectronics filed arbitration against the bank last winter, on the grounds that Credit Suisse bought auction rate securities, including collateralized debt obligations, "instead of the federally guaranteed student loan securities that had been specifically mandated by the company for purchase."

Switzerland - The Court of Arbitration for Sport (CAS) on Monday said that a Swedish wrestler would not get back a medal he won last year at the Beijing Olympics.

Ara Abrahamian, who won a bronze medal in the middleweight Greco- Roman wrestling competition in Beijing, caused a scandal at the victory ceremony when he took off his medal and placed it on the floor and walked away from the ceremony, which was still in progress.

The Swede, who won a silver medal in Athens in 2004, claimed he had been cheated in his semi-final loss against Andrea Minguzzi.