Now fraudsters may log on as your "friend." How Facebook, LinkedIn, and other social networking sites are fighting a rise in scams
This is in addition to earlier writedowns worth billions of dollars. Credit Sussie already slashed 1,800 jobs this year.
Swiss banking major UBS on Monday said it would adopt a new compensation model for the board of directors for next year and its top executives would not receive any bonus for 2008.
Close on the heels of the alleged money laundering by farm owner Hasan Ali Khan through Switzerland-based bank UBS, Europe's biggest bank by assets, another Swiss bank, Credit Suisse, has come under scrutiny of the Enforcement Directorate (ED), which investigates foreign exchange violations.
Smaller enterprises who are already fighting a losing battle on various fronts will see credit tightening.
UBS is completely focused on India and especially on gaining a foothold in the wealth management space. The Swiss bank has operation centers in Hyderabad and is entering into projects in Mumbai. The latest subprime calamity struck deep wounds on UBS' management, forcing its Chairman Marcel Ospel to step down. The Swiss bank raised about $13 billion from investors in Singapore and West Asia last year.
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
This marked an increase from 2,63,000 at the end of 2013
Sources close to the developments said the company would announce the deal any day. Morgan Stanley is advising Standard Chartered on the deal.
He said his party wants to eradicate corruption and if "Modiji takes any step against the menace, the Congress party will lend its hundred per cent support".
Finance Minister Arun Jaitley who is in Davos to showcase India as an investment destination at the World Economic Forum (WEF), on Wednesday promised India has a "lot in the pipeline" for global investors even as he plans to take up with Switzerland the issue of black money stashed in banks there.
Highlights of BJP's prime ministerial candidate Narendra Modi's speech at the Maha Garjana rally in Mumbai
Preservation of wealth has become the mantra as private bankers are broadening their relationships with exporter communities and family-owned firms.
Finance Minister Arun Jaitley on Friday said Switzerland has agreed to share information on Indians having illicit money in Swiss banks on independent evidence provided in each case to the Alpine nation.
The world number one believes he is pulling away from his rivals in men's tennis.
Bayern Munich president Uli Hoeness, once one of Germany's most admired soccer managers, goes on trial on Monday charged with tax evasion in a case that has shocked the nation and changed attitudes towards paying taxes.
If foreigners need reasonable taxes, why offer citizens something else? If foreign businessmen look for assurance on the rule of law, so do citizens, argues T N Ninan.
Bayern Munich President Uli Hoeness will stand trial for tax evasion in March, a German court said on Monday, but his club wants him to stay on in his current role.
Escalating the attack on Prime Minister Narendra Modi over demonetisation, Rahul Gandhi on Saturday accused him of dividing the country between the rich and the poor and dubbed the move as "firebombing" on cash economy and farmers and labourers.
The list includes 1,195 Indians with funds totalling $4.1 billion.
US authorities are examining payments made by Nike Inc under a 1996 football sponsorship deal with Brazil.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
The Supreme Court has not only exposed the BJP government's intentions, it has also questioned the government's credibility, which is a serious blow, says Sheela Bhatt/Rediff.com
SIT on black money on Monday decided to widen its probe as new names of Indians with Swiss bank accounts have come up
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
A survey conducted by Swiss banking giant UBS found Oslo to be the most expensive in the world.
Addressing chartered accountants on the foundation day of the Institute of Chartered Accountants in India, Modi also said CAs should take a pledge to bring people in the tax bracket rather than boasting about the number of clients they have saved from paying taxes.
Congress had attacked Narendra Modi during the Lok Sabha campaign on social media under the hashtag 'Feku'.
Global IT firms seeing dearth of talent in countries such as US, looking for people with such skills from countries like India
Uruguayan soccer player Diego Forlan on Monday denied evading taxes by hiding money in Swiss accounts with the British bank HSBC Holdings PLC.
'Sweden claimed inability to track the payments through Swiss bank accounts after making a half-hearted request for Swiss assistance,' it said.
The PM has demonetised high currency notes to waive off Rs 1.14 lakh crore loans of industrialists and he is now planning for another waiver of Rs 8 lakh crore, he said.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
Why you are so egoistic? You have branded everyone in the country a black marketeer and have yourself turned into a saint ," Banerjee said.
The income tax department is asked to keep names of blackmoney holders under wraps.
The SIT found and reported that there was no amount shown in almost 289 HSBC Geneva entries, while 122 of them were repeated twice in the same list.
Switzerland makes public 2,600 dormant a/c; 4 from India.
Modi promised in his 2014 election campaign to recover billions of dollars sent to tax havens abroad to avoid income tax, now about 30 per cent in India
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances