Lucerne

UBS shareholders approve Swiss government rescue plan

UBS shareholders approve Swiss government rescue plan Lucerne - Shareholders of Swiss bank UBS overwhelmingly supported Thursday a plan for the Swiss government to inject 6 billion francs (5 billion dollars) into the institution, which has been hit hard by the sub-prime and financial crises.

The bank said over 98 per cent of voting shareholders supported the move, which gives the government a temporary stake of 9.3 percent in the bank.

Swiss Mindset to build super lightweight eco-car in 2009

Lucerne, Switzerland - The Swiss Mindset AG company has announced that it is planning to produce its super lightweight eco- car fitted with hybrid drive, two gull-wing doors and narrow 22-inch wheels by 2009.

Designed by Volkswagen's former design director, Murat Gunak, who was appointed Mindset CEO, the prototype features design aspects from the hatchback and coupe with a long bonnet and rectangular rear with glass roof.

The round headlights are similar to the sports car design of the 1950s and 1960s.

Mindset, a company set up by Spirt Avert AG, is engaged in the development of a so-called "alternative automobile concept" at a time of rising oil prices and widespread measures to reduce carbon dioxide emissions in Europe.