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UBS posts first quarterly loss since 2017 on Credit Suisse costs
UBS posts first quarterly loss since 2017 on Credit Suisse costs
by  AFP

UBS posted a larger-than-expected loss in the third quarter on Tuesday, the first quarterly drop since 2017 as it integrates Credit Suisse after taking over its fallen Swiss banking rival. Credit Suisse posted a positive inflow of net new money for the first time since the first quarter of 2022 at $3 billion.

China owed more than $1 trillion in Belt and Road debt: report
China owed more than $1 trillion in Belt and Road debt: report
by  AFP

China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress.

Asian markets take a breather after Fed rate pause rally
Asian markets take a breather after Fed rate pause rally
by  AFP

Asian markets turned negative Tuesday after their latest rally as high hopes the US Federal Reserve has finished hiking rates gave way to profit-taking. Still, markets are betting on a number of rate cuts next year totalling more than 100 basis points.

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