UBS, Credit Suisse investigated over rate-fixingFebruary 3, 2012 - 17:46 AMT PanARMENIAN.Net - The Swiss Competition Commission has launched an investigation into possible cartel behavior by a dozen banks including UBS and Credit Suisse. The commission said in a statement Friday, Feb 3, that the banks are suspected of colluding to influence key interest rates and the trading conditions for derivatives. It says the probe covers Switzerland’s two biggest banks. Competition authorities in the United States and Britain have also begun investigations into whether banks misstated the London Interbank Offered Rate, or LIBOR, that underlies many commercial interest rates, The Washington Post reported, citing AP.  Top stories Hrachya Berberyan: apricot harvest will make 25 and 10-12 thous. tons in Ararat and Armavir provinces respectively Any decisions were postponed until the end of next month after French and Greek parliamentary elections on June 17. Armenian Prime Minister met with the head of International Fund for Agricultural Development Programs in Armenia. The market average rate of USD on May 23 totaled AMD 401,59 increasing by 0.52 point compared to May 22.   |  Latest news Over 100 trespassers detained in Armenia in January-May  Russian border guards seized 50 firearms, bladed weapons and 300 thous. rubles worth contraband in January-May.Conference participants at Institute of CIS States back Artsakh’s stance The NKR was represented at the round table by Advisers to Foreign Minister Ruben Zargarian and Arsen Melik-Shakhnazarian.Shoushi liberation anniversary celebrated in France Armenian ambassador to France Vigen Chitechyan answered Armenian foreign and domestic policy related questions.Armenian ambassador to China participates in ESCAP meeting Armen Sargsyan participated in meeting of UN Economic and Social Commission for Asia and the Pacific in Bangkok. |
