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Islamic fund managers in Gulf opt for foreign domicilesIslamic 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. More… |
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Qatar hires UBS for possible $3bn VTB dealQatar'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& More… |
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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-owned bank VTB, three people with direct knowledge of the matter told Reuters on Tuesday. VTB is working on a capital i More… |
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How UBS manipulated interest ratesSwiss bank UBS has been fined $1.5 billion by British, Swiss and US regulators to settle charges of manipulating global benchmark interest rates. UBS said on Wednesday it will pay $1.2 billion t More… |
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UBS admits fraud; bank fined $1.5bnSwiss bank UBS was hit with a $1.5 billion bill and admitted to fraud on Wednesday in order to settle charges of manipulating global benchmark interest rates. The penalty agreed with US, UK and More… |
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UBS faces $1bn fine for UK Libor riggingSwiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the London interbank offered rate (Libor) interest rate benchmark, a person familiar with the situation said. Such a penalty would be more than More… |
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UAE ‘safe haven for investment’There is a resurgence in the economy of the United Arab Emirates, said a top official, adding that it is the safe haven of the region and a sound place for global investors, particularly from the Euro zone and Asia. Khalaf Ahmad A More… |
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UBS fined $48m by FSA over scandalUBS was fined £30 million ($48 million) by Britain's financial watchdog and put under extra scrutiny by its Swiss counterpart over failings that allowed a rogue trader to lose $2.3 billion. Announcing the fine yesterday, More… |
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RBS tries to find fresh suitors for branch networkRoyal Bank of Scotland has sent sales documents to prospective buyers of the branches it is being forced to sell, in the hope it can draw up a shortlist next month, sources said. Information was despatched this week to trade buyer More… |
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UBS rogue trader gets 7 years' jailUBS rogue trader Kweku Adoboli was given a seven-year jail sentence on Tuesday after being convicted of two counts of fraud resulting in the Swiss bank's losing $2.3 billion. He will serve h More… |
