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2026/08/09
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Latest News:
Armed Forces Carry Out Operations Against Houthi Positions Along Front Lines
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Foreign Minister Discusses Implications of Recent Escalation by Houthi Terrorist Militia with UN Envoy
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Latest News:
Armed Forces Carry Out Operations Against Houthi Positions Along Front Lines
National Defense Council Maintains Permanent Session, Orders Higher Readiness to Deter Houthi Attacks
Foreign Minister Discusses Implications of Recent Escalation by Houthi Terrorist Militia with UN Envoy
Ministry of Health: Two Killed,14 Injured in Preliminary Toll of Houthi Shelling on Residential Neighborhoods, ..
Arab League Condemns Houthi Attacks on Armed Forces Positions
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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