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• UBS to return to profitability in 2009: chairman

  - 2008-08-17

  ZURICH AFP — Switzerland's biggest bank UBS, which has lost billions in the United States subprime crisis, would return to profitability next year, its chairman Peter Kurer said in remarks published Sunday. "We will be profitable again in 2009," Kurer said in an interview with Swiss Sunday newspaper NZZ...

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• UBS to expand in Mideast

  - 2008-07-08

  ZURICH AFP — Switzerland's biggest bank UBS announced on Tuesday that it was stepping up its expansion in the Middle East with a new licence to operate in Saudi Arabia. The bank has also applied to operate in Qatar and would expand its investment banking division and equity research...

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• German output falls sharply in May, economy may have stalled

  - 2008-07-07

  BERLIN AFP — German industrial production marked its biggest drop in almost 11 years in May, official data showed Monday, and analysts said Europe's biggest economy might have contracted in the second quarter of 2008. Industrial production dropped by 2.4 percent from April, with the economy ministry saying its...

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• Swiss MPs fear US tax probe stains image

  - 2008-07-02

  GENEVA AFP — Switzerland's finance minister on Wednesday defended Swiss banking giant UBS even as lawmakers voiced concerns that a US tax evasion probe into the bank could sully the country's reputation. The "presumption of innocence" should be applied to the bank, said Finance Minister Hans-Rudolf Merz, stressing that...

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• UBS under renewed pressure on further writedown talk

  - 2008-06-30

  ZURICH AFP — Shares in Swiss banking giant UBS came under renewed pressure on Monday after weekend reports suggested that the bank would report further billions in asset write-downs and losses for the second quarter. At 12.45 am, the stock was showing a fall of 3.3 percent to 21.66...

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• Swiss officials in US talks on UBS tax case: report

  - 2008-06-20

  GENEVA AFP — Swiss officials have gone to Washington for talks on tax evasion after a former employee of Swiss banking giant UBS admitted conspiring to help US clients dodge millions of dollars in taxes, a report said Friday. The delegation from the finance and justice ministries will discuss...

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• UBS raises almost 15 billion dollars in new capital

  - 2008-06-13

  GENEVA AFP — Swiss bank UBS, dramatically hit by the US home-loan crisis, said on Friday it had "successfully" raised almost 16 billion Swiss francs (9.9 billion euros, 15.3 billion dollars) from shareholders through an issue of new stock. The bank had set out to raise new capital of...

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• Talk of writedowns by US banks hits UBS shares hard

  - 2008-06-09

  GENEVA AFP — Rumours of more writedowns and bad news from the United States banking sector sent shares in Swiss bank UBS plunging on Monday, even as it wrapped up a rights offering to raise about 16 billion Swiss francs (9.92 billion euros, 15.6 billion dollars), analysts said. UBS...

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• US families sue UBS over alleged terror links

  - 2008-05-13

  ZURICH, Switzerland AFP — US victims of attacks in Israel and their families are suing Swiss bank UBS for 500 million dollars, alleging it financed terrorism by doing business with Iran, their lawyer told AFP Tuesday. Some 50 plaintiffs, relatives of people killed or wounded in attacks in Israel...

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• UBS to return $35 mln to US state over investments

  - 2008-05-08

  GENEVA AFP — Swiss banking giant UBS said Thursday it will return some 35 million dollars (23 million euros) to towns and cities in the US state of Massachusetts over investments disallowed under state law. In a statement sent to AFP, the Swiss bank said: "UBS has agreed to...

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