Business and Economy

Business and Economy Latest News

UBS beats expectations as claws backs provisions
UBS beats expectations as claws backs provisions
by  AFP

Swiss banking giant UBS reported third-quarter earnings that beat analyst expectations, thanks in part to clawing back provisions for possible litigation, but also sustained by strong performances in its trading and wealth divisions. The bank said it had earned a net profit of nearly $2.5 billion in the third quarter, a 74-percent increase from the same period last year.

NZ raids shipping insurer over alleged sanctions busting
NZ raids shipping insurer over alleged sanctions busting
by  AFP

New Zealand police raided a shipping insurer's offices over allegations it offered cover to tankers breaking Russian sanctions, a senior detective said Wednesday. Reuters said this week that the New Zealand insurer had helped tankers carrying Russian and Iranian oil to avoid Western sanctions by providing them with insurance.

As US blows up drug boats, Venezuelan oil sets sail
As US blows up drug boats, Venezuelan oil sets sail
by  AFP

While the American military blows up boats it claims are transporting drugs from Venezuela, observers say tankers shipping Venezuelan oil in violation of a US embargo continue to navigate the very same Caribbean waters undisturbed.

Money

Technology

Energy

Economy

Industry

Maritime

Capital Market