As the newspaper notes, the court today, March 30, found guilty all the bankers who helped Roldugin. Three Russians and one Swiss helped Roldugin, who is the godfather of Putin’s eldest daughter Maria, place millions of francs in Swiss bank accounts between 2014 and 2016. The bankers received a sentence of seven months’ suspended imprisonment, … Read more
The Houston Rockets of the NBA, in the 2022-2023 season, have spent more than half of their salary limit on players who are no longer part of their squad, this despite the fact that in the overall consolidated it is one of the teams that least spend on players. The total waste is US$84 million, … Read more
The Economist – Mexico City Some US$4.4 billion, 7.6% of the more than US$58 billion that Mexicans received in remittances in 2022 are related to money laundering linked to drug trafficking, according to the report “Euphoria of remittances: exodus, money laundering and economic boom” prepared by the think tank Signos Vitales. “We estimate that the … Read more
Abu Dhabi – Mubasher: The UAE Central Bank expected inflation to slow down during the current year 2023 to 3.2%, on the back of weak price increases in all categories, especially transportation, food and beverages. The Central Bank also expected in its recent report that inflation will remain on the rise, given that it is … Read more
European stocks closed little changed on Tuesday after struggling to rally amid persistent fears of a deeper crisis stemming from the collapse of Credit Suisse and two US banks. The STOXX 600 closed flat, after rising 0.8 percent for the day. The European Central Bank’s top supervisor expressed concern about the recent sell-off of Deutsche … Read more
Disaster bonds “The Swiss Financial Market Supervisory Authority’s decision to write off the entire value of Credit Suisse’s Tier 1 bonds should not affect the catastrophe bonds,” Marcos Alvarez, head of global insurance at DBRS Morning Star, told Bloomberg News. And I think that catastrophe bonds are not going to be activated or repaid in … Read more
Dubai – Mubasher: A report issued by EZDubai, the area entirely dedicated to e-commerce in Dubai South, expects the size of the e-commerce market in the Middle East and North Africa region to reach $57 billion in 2026, equivalent to a compound annual growth rate of 11% during the period from 2022 to 2026. According … Read more
Microsoft Corp.’s chances of winning antitrust approval for its $69 billion acquisition of Activision Blizzard Inc. increased after UK regulators narrowed the scope of their investigation to focus solely on cloud gaming. The Competition and Markets Authority (CMA) said it changed its mind after weighing “a significant amount” of new evidence that Microsoft is unlikely … Read more
WELT: Mr. Utermann, in a dramatic rescue operation, the Swiss UBS took over Credit Suisse. How do you rate the merger? Andreas Utermann: The role of the “Monday morning quarterback”, who analyzes the games from the weekend afterwards, has never suited me. I prefer to look ahead. And then I noticed that the markets have … Read more
The banking system in free fall Regulators and politicians around the world are trying to allay fears of a new banking crisis. But the bankruptcy of Silicon Valley Bank and the emergency merger of UBS and Credit Suisse were not the end. Even after the experiences of 2008, it was not possible to regulate the … Read more