Latest News

Banque Pictet to pay nearly $123 mn over secret bank accounts
Banque Pictet to pay nearly $123 mn over secret bank accounts
Economy
by  AFP

Banque Pictet et Cie will pay nearly $123 million under a deferred prosecution agreement in which the private bank admitted to helping US taxpayers evade $50.6 million in taxes, US officials announced Monday. Under the agreement, Banque Pictet will pay $31.8 million in restitution for US taxes; $52.2 million for fees earned on the undeclared accounts; and a penalty of nearly $39 million.

Saudi Arabia says 'absolutely not' to oil phaseout at COP28
Saudi Arabia says 'absolutely not' to oil phaseout at COP28
Economy
by  AFP

Saudi Arabia's energy minister has slammed the door shut on agreeing to phase out fossil fuels at the UN's COP28 climate talks, setting the stage for difficult negotiations in Dubai. But Energy Minister Prince Abdulaziz bin Salman, a half-brother of de facto ruler Crown Prince Mohammed bin Salman, told Bloomberg that Saudi Arabia, the world's biggest oil exporter, would not agree.