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Credit Suisse

Credit Suisse settles spying case with former star banker

ZURICH: Credit Suisse has reached an out-of-court settlement with former star banker Iqbal Khan over allegations of...

Published 26 Jul, 2021 02:22am

Business & Finance

Morgan Stanley profit rises on capital market, deal-making boom

The Wall Street bank said its net income applicable to common shareholders rose to $3.4 billion, or $1.85 per share, in the second quarter ended June 30 from $3.05 billion, or $1.96 per share, a year earlier.

Published 15 Jul, 2021 04:49pm

Pakistan tops up March bonds to the tune of $1bn

Pakistan sold $300 million of a tranche due in 2026 at 5.875%; $400 million in bonds maturing in 2031 at 7.125%; and $300 million in paper due in 2051 at 8.45%

Updated 07 Jul, 2021 04:37pm

Business & Finance

Credit Suisse poaches Morgan Stanley banker for global industrials

The appointment comes amid efforts by Switzerland's second-largest bank to retain staff after the Greensill Capital and Archegos Capital Management scandals hammered its share price and set off a wave of departures.

Updated 06 Jul, 2021 09:35pm

Markets

Scandal-hit Credit Suisse considers creating single private bank

A global entity could also work better with the investment bank, which provides financial services to entrepreneurs and ultra-wealthy families, two of the sources said

Published 30 Jun, 2021 11:45am

Markets

Japanese shares drop as cyclicals drag, virus worries increase

Nexon Co Ltd, up 4.28%, rose the most on the Nikkei, followed by NEC gaining 3.69% and Fujitsu up 1.15%

Published 29 Jun, 2021 11:10am

Business & Finance

Credit Suisse top financial institutions banker in Europe to join Jefferies

Armando Rubio-Alvarez, who heads the Swiss bank's financial institutions (FIG) franchise in Europe, the Middle East and Africa, is moving to Jefferies where he will take on European responsibilities leading the coverage of some of the region's biggest financial clients, the sources said.

Published 01 Jun, 2021 06:44pm

Markets

Credit Suisse scandals prompt Switzerland to think unthinkable

Dominik Gross, of the Swiss Alliance of Development Organisations, predicted that Swiss lawmakers would be reluctant to change.

Published 28 May, 2021 11:21am

Business & Finance

EU fines banks 371m euros over bond trading cartel

BRUSSELS: The European Commission fined top banks including UBS and Unicredit a total of 371 million euros ($452...

Updated 21 May, 2021 09:43am

Swiss parliament to look into Credit Suisse fiasco

ZURICH: A Swiss parliamentary committee will discuss the fallout from billions of dollars worth of losses at Credit...

Published 17 May, 2021 06:14am

Business & Finance

Credit Suisse crisis worst yet for banking veteran Horta-Osorio

"Over three and a half decades, I have personally worked at and led several banks in different countries and have lived through many crises," the former Lloyds chief executive said during Credit Suisse's webcast annual general meeting.
"What has happened with Credit Suisse over the last eight weeks, with the US-based hedge fund and the supply chain finance funds matters, certainly goes beyond that."

Published 30 Apr, 2021 05:12pm

Markets

Credit Suisse board member quits after Archegos fiasco: bank

The Swiss bank said in a brief statement that Andreas Gottschling, the head of the board's risk committee, would not seek re-election at a general assembly.

Published 30 Apr, 2021 10:28am

Markets

Lloyds first quarter profit jumps as CEO Horta-Osorio heads for exit

Horta-Osório set out fresh targets to expand Lloyds' insurance and wealth business and further cut costs in February, but has left formulating a longer term strategy to his successor Nunn.

Published 28 Apr, 2021 11:35am

UBS, Nomura push global banks’ Archegos losses over $10bn

ZURICH: UBS reported an unexpected $774 million loss on Tuesday from the collapse of US investment fund Archegos,...

Published 28 Apr, 2021 03:18am

Business & Finance

Credit Suisse Greensill-linked funds have further $880mn in cash

Switzerland's second-biggest bank is reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management within a month.

Published 26 Apr, 2021 05:41pm

Markets

Credit Suisse investors oppose risk chairman's Gottschling re-election

The Zurich-based bank is due to hold its shareholders' meeting on April 30.

Published 26 Apr, 2021 01:25pm

Business & Finance

Credit Suisse to boost capital ahead of further Archegos hit

Its shares fell 5.7%, with analysts pointing to the further Archegos hit and dilution caused by the issuance announced on Thursday of bonds convertible into 203 million shares.
In response, the bank is cutting its prime brokerage business, which caters to hedge fund clients, by about a third.

Published 22 Apr, 2021 05:26pm

Business & Finance

Credit Suisse hit by loss, probe over Archegos fiasco

The bank announced a net loss of 252 million Swiss francs ($275 million, 229 million euros) and said it would issue new shares to beef up its capital base.

Published 22 Apr, 2021 04:47pm

Markets

Credit Suisse ran up $20bn exposure to Archegos: report

The US family-owned hedge fund run by former Tiger Asia director Bill Hwang had taken huge bets on a few stocks with money borrowed from banks.

Published 22 Apr, 2021 11:13am

Markets

Credit Suisse serves investors thin gruel as Wall Street feasts on deals

Venditti said he expected to see an RWA inflation at Credit Suisse from the second quarter.

Published 19 Apr, 2021 11:44am

Markets

Dell shares rise on plans to spin off top-performing VMware unit

The spinoff of its 81% stake in VMware, first proposed in a filing last July, would also help Dell lower its long-term debt of $41.62 billion, much of which was taken on during its 2016 acquisition of data management firm EMC.
Wall street analysts saw benefits in the spinoff, but some also raised long-term concerns about company's core business.

Published 15 Apr, 2021 07:43pm

Business & Finance

Credit Suisse to return another $1.7bn to investors

Switzerland's second-largest bank, which suspended four funds linked to Greensill in early March, had already made a first repayment of $3.1 billion.

Published 13 Apr, 2021 04:35pm

Opinion

Credit Suisse in search of new map after losing way with Archegos

Thomas Gottstein may have acted decisively enough this week to stay as Credit Suisse chief executive, but investors...

Published 08 Apr, 2021 04:10am

Business & Finance

Credit Suisse in search of new map after losing way with Archegos

Credit Suisse takes $4.7 bln loss from Archegos affair.
Hedge fund hit follows Greensill collapse fund failure.
Shares in Credit Suisse fall 25% since March 1.
Investors await Lloyds CEO as new Credit Suisse chairman.

Published 07 Apr, 2021 05:33pm

Markets

Citibank files wind up applications for GFG Australian assets

On the court case, GFG Alliance said that it did not conduct any financing with Credit Suisse, has not sold receivables to the bank and would vigorously defend any court procedures.

Published 07 Apr, 2021 11:23am

Credit Suisse takes $4.7bn hedge fund hit

ZURICH: Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with...

Published 07 Apr, 2021 03:48am

Business & Finance

Credit Suisse estimates Archegos fallout at $4.7bn, overhauls executive board

An individual case has ruined the otherwise successful work of the bank as a whole in the first quarter. At least - in our opinion - personnel consequences have now been taken.
"CEO Gottstein is quoted saying "serious lessons will be learned". In addition to the Executive Board changes, we look forward to hear about the "broader consequences" of the Board's investigations."

Published 06 Apr, 2021 12:01pm

Business & Finance

Credit Suisse aims to recoup most Greensill-linked fund assets

Investors in frozen funds to get more cash this month.
Swiss bank aims to recover most of funds' assets.
Shares rebound of slide on risk-management worries.

Published 01 Apr, 2021 08:03pm

Markets

European stocks flat, with Deliveroo tumbling in debut

The German DAX slipped 0.1pc after breaching the 15,000-mark for the first time on Tuesday, while the UK's FTSE 100 fell 0.9pc.

Updated 01 Apr, 2021 12:01am

Markets

S&P ends a hair lower with banks down

• Boeing rises on Southwest order for 737 MAX jets NEW YORK: The S&P 500 ended just slightly in the red on...

Published 31 Mar, 2021 05:42am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 28	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 28 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 28 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 28 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 28 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 28 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 28 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 28 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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