Swiss bank UBS fails to overturn tax evasion bail order in FranceSeptember 23, 2014 - 10:00 AMT PanARMENIAN.Net - Swiss bank UBS AG has failed to overturn a bail order for 1.1 billion euros ($1.4 billion) set by a French court in a tax evasion and money laundering case, the Associated Press reports. The Zurich-based bank said it was informed Monday, SEpt 22, of the appeals court decision, which it said failed to take into account the arguments it put forward. UBS now plans to appeal to the French Supreme Court and the European Court of Human Rights, calling the proceedings against it "a highly politicized process that from the beginning of the investigation has not followed elementary facets of the rule of law." UBS has refused a settlement offer that would have required it to plead guilty in the case, which started as a probe into the bank's alleged aid to French tax evaders. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |