Zurich - The embattled Swiss banking giant UBS completed Friday the transfer of its toxic assets to the Swiss National Bank. The bank would take a
300-million-dollar charge in the first quarter for the transfer.
The new transfer of 22.2 billion dollars of securities, loans and derivatives would give the stabilization fund, set up by the central bank as part of a bailout for UBS, a total volume of assets of 38.7 billion dollars.
Vienna - Julius Meinl V, the owner of Austrian private bank Meinl Bank AG, was detained on charges of defrauding investors, Austrian media said Thursday.
Meinl, 49, was detained Wednesday evening after being interviewed by prosecutors over irregularities regarding three companies set up by the bank, Format, a weekly business magazine, reported.
"Julius Meinl was detained because of the danger of flight" Gerhard Jarosch, the spokesman of Vienna's prosecution office, was quoted as saying.
London - Violent anti-globalization protests Wednesday overshadowed the Group of 20 (G20) summit in London as campaigners vandalized banks and clashed with heavily-armed riot police.
Some 4,000 protestors, shouting "hang a banker" and "storm the banks" converged on the Bank of England and later vandalized the London headquarters of the Royal Bank of Scotland (RBS).
Dhaka - Bangladesh's economy is expected to grow at its lowest rate in five years during the current fiscal year, mainly due to the impact of global recession, the Asian Development Bank (ADB) projected Tuesday.
The ADB Outlook 2009, the annual publication of the lending agency, said that the country's GDP growth would fall to 5.6 percent from 6.2 percent in the 2008-09 fiscal year.
It also projects a further decline in growth to 5.2 percent in the 2009-10 fiscal year.
Mumbai, Mar 31: Reserve Bank of India (RBI) Deputy Governor Rakesh Mohan has said that triad banking model - state-run, private and foreign banks - is working well in India.
Mohan said that the growth of each sector has spurred healthy competition.
Geneva - One of Switzerland's largest private wealth managers will have a new chief executive officer come May, aged only 34 years old, the Julius Baer bank announced Tuesday.
The private bank said Boris Collardi would take over from current CEO Johannes de Gier.
Collardi, a Swiss national born in 1974, worked for Credit Suisse before joining the private wealth manager in 2006.
The previous CEO of Julius Baer, Alex Widmer, died suddenly in December 2008 at the age of 52, amid rumours that it was a suicide.
Zurich - The embattled Swiss banking giant UBS completed Friday the transfer of its toxic assets to the Swiss National Bank. The bank would take a 
Vienna - Julius Meinl V, the owner of Austrian private bank Meinl Bank AG, was detained on charges of defrauding investors, Austrian media said Thursday.
London - Violent anti-globalization protests Wednesday overshadowed the Group of 20 (G20) summit in London as campaigners vandalized banks and clashed with heavily-armed riot police.
Dhaka - Bangladesh's economy is expected to grow at its lowest rate in five years during the current fiscal year, mainly due to the impact of global recession, the Asian Development Bank (ADB) projected Tuesday.
Mumbai, Mar 31: Reserve Bank of India (RBI) Deputy Governor Rakesh Mohan has said that triad banking model - state-run, private and foreign banks - is working well in India.
Geneva - One of Switzerland's largest private wealth managers will have a new chief executive officer come May, aged only 34 years old, the Julius Baer bank announced Tuesday.
