Basel, Switzerland - The Swiss Bankers Association said Friday that it supported Bern's decision to offer better international cooperation on tax offences.

"The SBA now expects an end to all improper international criticism of Switzerland and its legal system and also an end to threats to put Switzerland on a so-called 'black list'," the group said in a statement.

Zurich - Swiss Re said Friday it had finalized a deal to sell Berkshire Hathaway convertible bonds worth 3 billion francs (2.51 billion dollars), but that it had left open the option to buy back the paper should it be able to raise the needed funds.

Swiss Re announced net losses in 2008 of 864 million francs and incurred 5.9 billion francs in write downs on assets, following the financial crisis.

Zurich - Swiss Life has confirmed Friday that it is in talks with German insurer Talanx about its stake in MLP, a pension specialist.

The Swiss company, the largest insurer in the Alpine nation, owns about a quarter of MLP. According to reports, Swiss Life wants to reduce its stake in MLP.

"Swiss Life confirms that it is also holding talks with the Talanx Group in this regard. Discussions are still at a preliminary stage with no decisions taken," the company said in a statement posted on its Website.

India's most-acclaimed contemporary filmmaker, Adoor Gopalakrishnan has been selected as a jury member of the international Fribourg International Film Festival (FIFF) to be held from March 14 to 21 at Switzerland.

Geneva  - A Swiss private bank said Thursday that it would buy back from eligible clients their exposure to the fraudulent scheme run in the United States by Bernard Madoff at 50 per cent of the original cost.

Union Bancaire Privee (UBP) said the "goodwill gesture" towards it clients would see the bank pay for the purchase of the investments over the course of five years.

UBP also announced moves within the bank to improve risk management and research.

Zurich - The Swiss central bank announced Thursday it would cut interest rates by 25 basis points to a target of 0.25 per cent in an attempt to shore up the economy and prevent deflation.

The use of the monetary policy by the Swiss National Bank would also involve buying up bonds and foreign currency to prevent further appreciation of the franc against the Euro.