UBS and Swiss Govt. Guarantee Credit Suisse Losses
ZURICH: UBS and the Swiss government signed on Friday an agreement to cover up to 9 billion Swiss francs ($10 billion) in losses from its emergency takeover of Credit Suisse, the country’s largest bank, Reuters reported. The deal comes with various conditions, including a requirement that UBS keeps its headquarters in Switzerland, the government said in a statement. The loss protection agreement will become effective with the completion of the Credit Suisse takeover, expected as early as June 12, UBS said in a separate statement.
Blinken’s Delayed China Trip Set for This Month: Reports
US secretary of state is expected to meet top Chinese officials, US media outlets say, on visit delayed since February.
“Down Syndrome Football Team Featured in ‘Mighty Penguins’ Documentary”
For many, it is difficult to imagine living with Down syndrome, its challenges as well as its beauties, but “Mighty Penguins” is a film that achieves exactly that. It gives you a glimpse into such a world and what we find is one filled with passion, love and emotional intelligence, but also complicated by hardships and prejudice.
Saudi Arabia’s voluntary cuts boost oil prices.
RIYADH: Oil prices rose on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to US interest rate hikes offset worries over demand weakness and a global economic slowdown. At a recent meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, Saudi Arabia said it will cut its crude output by 1 million barrels per day in July on top of a broader deal to limit supply into 2024 as the producer group seeks to boost flagging prices.
Introducing Hafize Gaye Erkan: Turkey’s New Central Bank Chief
Erkan becomes the first woman to lead the central bank after her appointment by President Recep Tayyip Erdogan.
“Turkish halt on medical visits leaves Syrians without life-saving care”
HALZOUN, Syria: Huddled inside a tent in rebel-held northwestern Syria, Umm Khaled says she fears her baby will die unless she gets specialist treatment in neighboring Turkiye for a congenital heart defect. Seriously ill Syrians in the country’s last rebel bastion of Idlib used to be able to access life-saving care across the border. But the main crossing there for medical visits slammed shut after a deadly earthquake ravaged southern Turkiye on February 6, prompting Ankara to prioritize its domestic needs.