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Last Update: ،
2024/07/27
Time
04:03:36
Latest News:
Water Minister signs agreement to re-qualify two wells in Ataq
Minister of Info and tourism, Socotra deputy governor discuss reinvigorating tourist attraction to archipelago
Baggash meets with Regional Director of Norwegian Council for Refugees
Governor of Hadramout discusses with UNOPS projects in the governorate
Saudi Arabia welcomes UN statement on government-Houthi deals regarding banking sector and Yemen airways
Latest News:
Water Minister signs agreement to re-qualify two wells in Ataq
Minister of Info and tourism, Socotra deputy governor discuss reinvigorating tourist attraction to archipelago
Baggash meets with Regional Director of Norwegian Council for Refugees
Governor of Hadramout discusses with UNOPS projects in the governorate
Saudi Arabia welcomes UN statement on government-Houthi deals regarding banking sector and Yemen airways
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.
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.
Key words:
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S. Korea's economy contracts 0.2 percent in second quarter
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