UBS is reportedly linked to Chinese military companies under U.S. sanctions, investing around $1 billion in fighter jet manufacturer Avic Xi"an and surveillance supplier Hikvision through joint ventures. Despite selling shares after the sanctions were imposed, UBS"s joint ventures have made significant purchases, raising concerns about potential U.S. retaliation. The bank maintains that its investments comply with U.S. laws, asserting that trading of these securities is permissible outside the U.S. as long as U.S. persons are not involved.
Swiss healthcare expenditures are projected to surpass 100 billion francs by 2025. Meanwhile, Swiss exports reached a record high in October, driven by the chemical-pharmaceutical sector, while the wealth management sector remains the world's leader, albeit with a narrowing margin over the UK and US. The banking landscape faces challenges following the Credit Suisse crisis, impacting asset inflows from key regions.
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