UBS officially acquires rival Credit Suisse

President al-Alim: We're determined to protect civilians, correct course of partnership within Coalition to support Legitimacy

His Excellency (HE) President Dr. Rashad a-Alimi, Chairman of the Presidential Leadership Council (PLC), affirmed that the state is determined to protect civilians, uphold its legal standing and maintain unity in its military and security decisions, warning of the danger posed by the escalation of the South Transitional Council (STC) in Hadramout and al-Mahra governorates and the involvement of the United Arab Emirates (UAE) in supporting the rebellion and undermining state institutions.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

China's ETF market hits record $855.6

The combined scale of China's exchange-traded funds (ETFs) has hit a record 6.02 trillion yuan ($855.6 billion), up more than 2.2 trillion yuan from the end of last year, Shanghai Securities News reported Saturday, citing data from Choice, a financial information provider.

Arsenal defeats Brighton and strengthens its lead in the English Premier League

Arsenal defeated Brighton 2-1 in their match at the Emirates Stadium as part of the 18th round of the English Premier League.

Last Update: ، 2025/12/31 Time 01:33:41
Latest News:

Yemen Orders UAE Forces to Withdraw Amid Rising Tensions

A republican decree about declaring a state of emergency

President al-Alim: We're determined to protect civilians, correct course of partnership within Coalition ..

Interior Ministry Supports President's Decisions to Counter Armed Rebellion

Coalition Conducts Limited Airstrike on Weapons Shipment at Yemen's Mukalla Port

UBS officially acquires rival Credit Suisse

[12/06/2023 08:38]

BERN-SABA
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.

Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs

Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.

The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.