Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Agency, Analysis, Business, Banking & Finance

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qatar Investment Authority deals a blow to Credit Suisse, lowers stake

By TRENDS Desk
July 1, 2021 5:00 am
    • The QIA now hold a below five-percent stake in the Swiss bank
    • Earlier it held about 133 million shares, making it the bank’s biggest shareholder

    In yet another crushing blow to the standing of Credit Suisse, the Qatar Investment Authority (QIA) has lowered its stake in the bank to below 5 percent, after one of the most turbulent years since the global financial crisis.

    QIA holds 4.8 percent in Credit Suisse, or about 128 million shares, according to a filing with the Securities and Exchange Commission on Wednesday. The QIA had previously held about 133 million shares, making it the Swiss bank’s biggest shareholder, according to Bloomberg data.
    The stake reduction means that QIA may no longer be the Swiss bank’s largest shareholder. Harris Associates has a holding of about 133 million shares, the data show.

    Credit Suisse has been hit this year by the blow-ups of Archegos Capital Management and Greensill Capital. The two scandals caused billions of dollars in losses and further dents to its reputation, Bloomberg said.

     

    [adinserter block="5"]

    Most Read

    Getting vaccinated is ‘the most patriotic thing’ to do

    The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

    UAE’s working mothers get extended maternity leave

    The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

    Saudi Arabia to generate $150 billion in investments from its new transport policy

    The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

    GCC healthcare: Transforming the region and impacting the world

    PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

    New-Age Growth Comes Home to the GCC

    The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

    [adinserter block="4"]