"That's favorable for the continuous boom in the Asian credit market, " said Paul Au, UBS AG's head of Asian debt syndicate.
The views and opinions expressed in this article are those of the author and do not necessarily reflect those of UBS AG.
Bradley Birkenfeld is said to have exposed tax evasion at UBS AG, a prominent Swiss bank, passing details to the US officials probing the bank.
Even though Switzerland is not a Euro country, and has the strongest currency in the world, the Swiss bank UBS AG ( UBS) has also been hit.
In a sign of the runaway jitters that are pounding bank stocks, Credit Suisse Group and UBS AG denied they borrowed the funds, saying their liquidity remains strong.
Another former holder of a secret UBS AG account got off with probation Tuesday, when federal sentencing guidelines suggested a sentence of six months to a year.
FORBES: How A $200,000 UBS Account Grew Into A $21 Million Penalty
The most high profile of these were the UBS AG case and the OECD's attempt to name and shame those countries that fail to comply with internationally agreed standards.
Land sales make up 30 percent of local government revenue and in some cities account for more than half, according to a June 2011 report by UBS AG.
FORBES: China's Cities Take Steps To Stimulate Home Purchases
This is further exasperated with the recent disclosure by the Senate that they were pressured by Goldman Sachs ( NYSE:GS) UBS AG ( NYSE:UBS) and at least six more banks.
The new report is one of a series the Senate subcommittee has done on offshore tax avoidance and evasion, including by individuals with secret accounts at UBS AG and other foreign banks.
FORBES: Senate Report Details HP & Microsoft Offshore Tax Ploys
"Sports- and entertainment-based facilities have had a really mixed history of success, so investors are becoming pickier about what they do, " said Joseph Krist, a municipal-credit analyst with a unit of Swiss bank UBS AG.
Wang Tao, chief economist with UBS AG in China, told China Daily on Tuesday that extensions of local-government debt already started last year amid concerns that municipalities were hurting from a sharp decline in housing development and fixed asset investments from Beijing.
European banks including UBS AG, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Credit Suisse Group AG have announced more than 70, 000 job cuts since midyear, compared with 42, 000 by U.S. peers, according to data compiled by Bloomberg.
FORBES: Wall Street Job Cuts: Morgan Stanley May Kill 580 Jobs In NYC
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