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Banking / Investment in Switzerland

  • Crimea: Circumventing Trade Sanctions Via Novorossiysk

    ARMENIA, 2017/07/08 Despite trade sanctions, Crimea is maintaining connections to international markets. Crimean traders are performing some logistical gymnastics to skirt sanctions, in particular transiting goods through the Russian port of Novorossiysk. On paper, of course, Crimea is experiencing a severe trade crisis. Official statistics indicate that Crimea’s import volume in 2016 shrank by a full third compared to the 2015 level, a drop of $33.6 million. Exports fell by $31.8 million, a 40-% decline from 2015. The city of Sevastopol, which is not formally part of the Republic of Crimea, reported a 12.6 % fall in its imports and 66.8 % fall in its exports in the same period, with volumes shrinking to $33.4 million and $5.9 million, respectively.
  • Switzerland to Unfreeze $827 Million in Libyan Assets

    LEBANON, 2015/05/12 The Swiss Secretariat for Economic Affairs said that, “the UN sanctions committee has agreed to unblock the 350 million Suisse Franc worth of frozen Libyan assets in Switzerland”. Antiya Birci, spokeswomen for the Swiss Secretariat for Economic Affairs, said in a press conference said that the unblocked funds would be used to meet the humanitarian needs of the Libyan people. She says a decision about which organizations will receive the money has from presently on to be made.
  • Swiss banking giant UBS AG has agreed to pay

    SWITZERLAND, 2012/12/24 Swiss banking giant UBS AG has agreed to pay a $1.5 billion fine to U.S. and foreign regulators to settle a probe that the bank engaged in a multiyear LIBOR rate manipulation scheme. The fine settles allegations made by the U.S. Commodities Futures Trading Commission (CFTC), the U.S. Department of Justice, inclunding British and Swiss regulators. The bank’s Japanese division has as well agreed to plead guilty to count of wire fraud in relation to rigging Japanese yen-based LIBOR rates. UBS admitted to the scandal, but said that the rate manipulation was done by certain employees who are no longer at the bank.
  • Cuts at UBS to take three years

    SWITZERLAND, 2012/10/31 更多
  • Swiss banking sector could shrink by a third 2012-08-07

    SWITZERLAND, 2012/08/07