Berne - The Swiss economy shrank in the fourth quarter of 2008 by 0.3 per cent compared with the previous quarter, the State Secretariat for Economic Affairs said Tuesday.

Revised figures for last year's third quarter showed the economy had contracted slightly - by 0.06 per cent - an official said, putting Switzerland officially into a mild recession.

The decline in real gross domestic product was 0.6 per cent when compared to the last quarter of 2007.

Basle, Switzerland  - At exactly 4 am (0300 GMT) Monday, with many thousands crowding the streets of the old part of Basle city, the power company killed the lights and a cannon burst was sounded, just as the first percussionists beat their drums, kicking off the ancient Fastnacht festival.

Geneva - Boris Becker chose a popular German game show to announce another go at marriage, saying he is back together with one- time girlfriend Lilly Kerssenberg, and would marry the 32-year-old Dutch model in June.

The shocker came in front of 9.7 million on the show "Wetten Dass...?," where the high-profile pair were guests. Also seated on the sofa, Hollywood star Jennifer Anniston.

It's been up and down for the love life of three-time Wimbledon winner Becker, who only split a few months ago with his last love Sandy Meyer-Woelden, 20-something daughter of his late manager.

Berne  - Jean-Pierre Roth, chairman of the Swiss National Bank, said Friday he would retire at the end of the year, having served in the role since 2001. He named no successor.

Roth, who worked for the bank for three decades, will step down in midst of a global economic crisis, which has also hit Switzerland, particularly as it is an exporting nation and relies on a financial sector that makes up an estimated 12 per cent of GDP.

Many observers have commended Roth's monetary policy during the onset of the financial woes and as it turned into an economic crisis.

Basel - Sarasin and Cie, a private Swiss bank, said Thursday its adjusted net profits in 2008 were 114.4 million Swiss francs (98.2 million dollars), down from 173.5 million the previous year.

The bank said it had an "impressive" new money inflow of 14.5 billion francs in 2008, a 30 per cent increase over 2007. Just over half of the new money came in during the later part of the year.

At the end of 2008, Sarasin managed client assets totalling 69.7 billion, a drop of 16 per cent compared to the previous year, attributed to overall market conditions.

Zurich - The embattled Swiss banking giant UBS announced Thursday it appointed a new chief executive officer to replace Marcel Rohner, who resigned, at the top of the company.

"This represents a further step to restore stakeholder confidence and to pave the way back to success," UBS said in a statement.

The bank's board of directors said it appointed Oswald J. Grubel to the position of CEO with immediate effect. Grubel for decades worked at Credit Suisse, the second largest Swiss bank behind UBS.