Wednesday 17 September 2014
 
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UBS

UAE tops world in billionaire wealth growth

Billionaire wealth in the UAE surged to $132 billion in 2014 from $45 billion last year, marking a worldwide record increase of 193 per cent, a report said. The number of billionaires in the UAE also increased to 46 from 37 in 201

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UBS slapped $281m claim settlement charge

UBS AG booked a near $300 million charge in the second quarter mainly to settle claims it helped wealthy Germans to dodge taxes, the latest in a string of lawsuits that have targeted its private banking business. The Zurich-based

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UBS raises dividends after return to profit

UBS raised its dividend and increased bonuses for bankers by nearly a third yesterday after the Swiss bank returned to a fourth-quarter profit, reaping benefits of a revamp of its investment banking business. The turnaround follow

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Billionaire population hits 2,170; Asia surges

The global billionaire population reached a record 2,170 individuals in 2013 and the total billionaire wealth in Asia surged nearly 13 percent, making it the fastest-growing region, a new report said. At current growth rates, Asia

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Post Lehman, 'shadow banking' drives risk

Just days after UBS said that it would gut its fixed-income trading business last October, three of the Swiss bank's senior executives left to launch a firm to go where big banks won't anymore.

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Dubai court dismisses Kuwaiti sheikh's $21m claim

A Dubai court has dismissed a Kuwaiti sheikh's $21.4 million claim against UBS AG in which he alleged the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by Kuwaiti telecom operator Zain.

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UBS to pay $885m fine in securities row

UBS will pay $885 million in a settlement with a US regulator over allegations the Swiss bank misrepresented mortgage-backed bonds during the housing bubble, paving the way for billions more to be paid by other banks. European and

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France widens UBS tax probe

Swiss bank UBS has been placed under formal investigation for alleged complicity in suspected illegal sales practices, the French prosecutor's office said yesterday, a week after the bank's French business suffered the same fate.

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Islamic fund managers in Gulf opt for foreign domiciles

Islamic fund managers in the Gulf are increasingly choosing foreign domiciles for their products, favouring their cost-efficiency and reputation for strong regulation as investors seek to avoid any suspicion of money laundering or tax evasion.

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Qatar hires UBS for possible $3bn VTB deal

  Qatar's sovereign wealth fund has hired UBS to advise on a possible $3 billion investment in Russian state-controlled bank VTB, three people with direct knowledge of the matter said.   Russia&

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