World Bulletin / News Desk
Swiss banking giant UBS will go on trial in France for establishing a wide-ranging tax fraud scheme, legal sources said on Monday.
Five UBS top managers are also facing trial, including Raoul Weil, the former third-in-command at UBS.
France opened a probe into UBS after former employees blew the whistle over the bank's alleged system of setting up dual accounts to hide the movement of capital into Switzerland between 2004 and 2012.
The bank's staff allegedly approached French clients, from wealthy businessmen to sports stars, during receptions, golf tournaments or concerts to convince them to hide their money in Switzerland.
Days after Russian regulator demeaned cryptocurrency, it breaks new records
The figure was slightly lower than analysts had forecast, following a 1.4 percent hike in overall prices in August.
Two parties to work for promoting sustainable economic growth in Developing 8 countries
Investors will also be tracking the start of an EU summit where Brexit will once again be the focus of attention.
BIST 100 index rises 0.45 pct while US dollar/Turkish lira rate stands at 3.67
Bank expects Turkey's strong growth performance to continue in Q3, World Bank Country Director for Turkey says
Industrial production marks first increase in three months, while manufacturing production comes below market expectations
While optimism remains over the world economy and corporate earnings -- helping push global markets to all-time or multi-month highs -- investors moved carefully as they await the next catalyst.
BIST 100 index rises 1.18 pct while US dollar/Turkish lira rate stands over 3.63
BIST 100 index falls 0.24 pct while US dollar/Turkish lira rate climbs to 3.69
National Bank of Ethiopia says devaluation of its currency necessary to boost exports
In its latest forecast, the IMF predicted the Russian economy will expand by 1.8 percent in 2017 and by 1.6 percent in 2018.