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UBS overhauls pay policy for 10,000 employees

LONDON: UBS AG has overhauled its pay policy for 10,000 staff in an attempt to reduce uncertainty about bonuses and cut the amount of time managers spend on allocating them, the Financial Times reported on Sunday

Employees working in the Swiss bank's "corporate center", which includes human resources, marketing and communications, will no longer receive variable bonuses, the FT said.

Too much debt and too little financial discipline

THE world is flushed with debt – right now nearly US$250 trillion, up 8% from a year ago. This level, according to the Institute of International Finance (IIF), is three times what it was two decades ago and relative to GDP, global debt exceeded 318%.

Gold holds firm on trade, growth worries

BENGALURU: Gold held steady yesterday on worries that a prolonged Sino-US trade war could worsen global economic slowdown, but a strong US dollar put bullion on track for its first weekly loss in three.

The grand delusion of modern money

AS the world goes through messy divorces in Brexit and the US-China trade relationship, there is considerable angst whether we are moving into a period of disorder.

Stocks in focus

A NUMBER of public-listed companies are said to be linked to the proposed new immigration system.

System provider: HeiTech Padu is the incumbent provider of the current Immigration Department’s MyIMMs.

What the Automatic Exchange of Information is about

The new global standard on Automatic Exchange of Information (AEOI) reduces the possibility for tax evasion. It provides for the exchange of non-resident financial account information with the tax authorities in the account holders’ country of residence, according to the OECD.