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 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 | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |