Big buy out

SWITZERLAND'S largest bank, UBS, has agreed to buy the country's second­largest bank, Credit Suisse, for more than $2 billion, as reported on, Sunday, March 19, according to the press service of the Swiss National Bank (SNB). The deal was allegedly closed after USB increased its offer to acquire Credit Suisse to over $2 billion.

"The Swiss National Bank is providing substantial liquidity assistance to support the takeover of UBS Credit Suisse. This takeover was made possible with the support of the Swiss Federal Government, the Swiss Financial Market Supervisory Authority FINMA, and the Swiss National Bank", it stated.

On March 16, the management of Credit Suisse (CS) announced that it would borrow up to 50 billion Swiss francs, or approximately $53.7 billion, from the Swiss

National Bank, as reported by Swiss media.

This would be done, they stated, in order to 'maintain the bank's core business' at an optimal level amid a sharp drop in share prices and to encourage customers to keep their existing deposits. It later it became known that UBS was in talks to acquire Credit Suisse.

IN A bid to make the European Union (EU) the home of clean technologies, manufacturing and green jobs a proposal for a Net Zero Industry Act has been made.

According to the EU, the Act will strengthen the resilience and competitiveness of net­zero technology manufacturing in the EU, and make the energy system more secure and sustainable.

The EU say that it will create better conditions to set up net­zero projects in Europe and attract investments, with the aim that the Union's overall strategic net­zero technologies manufacturing ca­

Unwanted invitation

RUMOURED candidate for US Presidency, and Florida Governor Ron DeSantis has been invited to visit Ukraine after dismissing the Russian invasion as a "territorial dispute". The Republican's comments signal a potential scaling back of aid to Ukraine should he become president.

Ukrainian Defence Minister, Oleg Nikolenko expressed concern tweeting, “We invite him to visit Ukraine to get a deeper understanding of Russia's full­scale invasion and the threats it poses to US inter ests.” He added that he was “sure” that as a former military officer DeSantis would be able to tell the difference between a “dispute” and a “war” if he was in a conflict zone.