ZURICH - UBS, the Swiss bank hit hard by the financial crisis and a U.S. legal probe into its American clients' offshore accounts, reported yesterday a first-quarter net loss of 1.98 billion Swiss francs ($1.73 billion) and said it expects loan losses to keep rising.
MARDİN -More than five decades have passed since the building of a dam at Hasankeyf was first proposed and local residents are growing tired of their unending dilemma. Even though the situation only compounds the ancient area’s poverty, the residents refuse to give in to the government’s offers, instead calling for more support to fight off the impending flood.
ZURICH - The losses of Switzerland’s UBS reach 8.1 billion Swiss francs ($6.9 billion) during the fourth quarter of 2008 due to trading losses and leveraged loan impairments. The bank, which will refocus on domestic markets, also reveals plans to lay off 2,000 of its employees