RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified investors inside and outside Saudi Arabia. The amount and terms of offer of the sukuk will be determined subject to market conditions, the bank said in a statement to Tadawul. This announcement...
ICIEC inks deal with SNB
ICIEC is world's only multilateral Islamic insurance firm.
Saudi National Bank chair resigns after Credit Suisse buyout
Saeed Mohammed Al Ghamdi, who had been serving as CEO, will replace AlKhudairy as chair, Monday's statement said. Talal Ahmed Al Khereiji has been appointed acting CEO, it said.
Credit Suisse buyout: Saudi National Bank fears no impact
The Saudi bank said its statement came "in light of the recent market announcement with regards to Credit Suisse", without directly mentioning the UBS buyout. Saudi National Bank spent 5.5 billion riyals ($1.5 billion) on a 9.88 percent share in Credit Suisse in November.Credit Suisse to borrow up to $53.7bn to shore up group after stocks dip
In February 2021, Credit Suisse shares were worth 12.78 Swiss francs, but since then, the bank has endured a barrage of problems that have eaten away at its market value. Wednesday's plunge also came amid fears of contagion brought on by the failure of the US-based Silicon Valley Bank.
Credit Suisse launches radical overhaul to stabilize bank
Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of scandals that have shaken the institution, saying the results were intended to create "a simpler, more focused and more stable bank".
GCC equities stay steady this week
It was a week of mixed fortunes for various stock exchanges of the GCC, with TASI remaining flat through the week, even as Abu Dhabi's index began posting gains on Frdiay.
Mergers, acquisitions in GCC up during pandemic
Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.
Saudi Aramco tops Forbes Middle East’s list of top 100 firms
Market value of the 100 companies stands at $3 trillion, 93 percent witness increase in their market value
