December 10, 2007

Swiss bank UBS plugs $10 billion subprime loss with help from Singapore (AFP)

Lafarge CEO Bruno Lafont delivers a speech during a general meeting in Paris, May 2007. Lafarge, the world's top cement-maker, said it will buy Egypt's Orascom Cement for 8.8 billion euros (12.9 billion dollars) in a deal that boosts the French company's position in the booming Middle East construction sector.(AFP/File/Jacques Demarthon)AFP – Swiss bank UBS turned on Monday to Singapore’s state investment fund for nearly 10 billion dollars in new capital to fill a huge hole caused by losses in the US mortgage crisis.

Filed under Real Estate Blog, Real Estate Business by Yahoo! News: Business - Real Estate

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