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 | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |