Monday, January 23, 2006

Swiss Bank UBS Halts Iran, Syria Business

We need a lot more of this.

Swiss banking giant UBS AG said Sunday it has stopped doing business with Iran because of the company's economic and risk analysis of the situation in the country.

UBS will no longer deal with individuals, companies or state institutions such as Iran's central bank, company spokesman Serge Steiner said. A similar policy is also being implemented in the case of Syria, he said.

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