Citigroup gets Saudi Arabia investment banking licence
April 25, 2017
Citigroup Inc has received an investment banking licence from Saudi Arabia’s Capital Market Authority more than 10 years after exiting the kingdom.
The CMA board authorised Citigroup Saudi Arabia 'to conduct dealing as underwriter, arranging and advising in securities business activities,' according to statement posted on the regulator’s website.
The"...Continue Reading >
Bank of America Reports First-Quarter 2017 Financial Results
April 19, 2017
Bank of America reported its first-quarter 2017 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways: Bank of America newsroom at http://newsroom.bankofamerica.com. Bank of America Investor Relations website at http://investor.bankofamerica.com. Business Wire’s news webpage at http://www.businesswire.com/portal/site/home/news. Investor Conference Call information Bank of America Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss the company’s results in a conference call at 8:30 a.m. ET today. For a listen-only connection to the investor presentation, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). The conference ID is 79795. Please dial in 10 minutes prior......Continue Reading >
Earnings Release First Quarter 2017
April 19, 2017
Al Khalij Commercial Bank (al khaliji) P.Q.S.C., in Qatar, announced its financial results for the first quarter of 2017, reporting a Net Profit of QAR 160.9 million. This represents an increase of 3% over its financial results for the same period of last year.
His Excellency Sheikh Hamad Bin Faisal Bin Thani Al Thani, Chairman and Managing Director"...Continue Reading >
Fitch authorized for credit ratings in Saudi Arabia
April 11, 2017
Fitch Ratings today announces it has obtained authorization from the Capital Market Authority (CMA) to conduct credit rating activities in the Kingdom of Saudi Arabia. To support the ongoing development of Saudi Arabia.
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Saudi banks \'largely unscathed\' from 2016 liquidity crunch
April 10, 2017
The worst effects of the liquidity crunch that hit the Saudi Arabian banking sector in 2016 have passed, following a drive by federal authorities to inject and support system liquidity, according to Fitch Ratings.
The rating agency said in a new research note that the banks came through the period largely unscathed, with liquidity coverage ratios recovering and capital strength intact"...Continue Reading >
Ferring Announces Exclusive Agreement with Alrise Biosystems for the Development of an Injectable, Controlled-Release Peptide
April 10, 2017
(BUSINESS WIRE) -- Ferring Pharmaceuticals and Alrise Biosystems announced today that the companies have entered into a development agreement with exclusive option rights for Ferring to leverage Alrise’s ImSus® Technology Platform for the development of an injectable, controlled-release formulation of a peptide therapeutic.
Under"...Continue Reading >
Alinma Bank recognized as a Top 20 Saudi Brand
April 2, 2017
ALINMA Bank has been recognized as one of the top 20 brands in Saudi Arabia by Kantar Millward Brown, one of the top market research firms worldwide and a member of the prestigious WPP family of marketing and advertising firms. Joining other perennial top Saudi brands, Alinma attended a special award ceremony on March 28, as part of the NEXT 2017 Powerbrands KAEC Festival, which Kantar Millward Brown organized in cooperation with King Abdullah Economic City, the event’s"...Continue Reading >
Banque Saudi Fransi inks desalination projects deal
March 31, 2017
State-owned Saline Water Conservation Corporation (SWCC) has awarded a financial advisory mandate to Banque Saudi Fransi (BSF) for two greenfield projects, said a report.
The Riyadh-based SWCC is the largest desalinating corporation in the world besides being the second-largest power provider in Saudi Arabia, reported Arab News.
The SWCC, which has over 30 desalination plants and 14 transmission lines across the kingdom, currently produces about 20 per cent of the world’s"...
Saudi Aramco weighing plan to hire investment banks for share sale
March 26, 2017
Saudi Arabian Oil Co. is weighing a plan to hire investment banks for different stages of its initial public offering, four people with knowledge of the matter said.
The company — known as Saudi Aramco — is talking to banks for a role as financial adviser to review potential listing destinations and prepare the company for the float, the people said, asking not to be identified as the talks are private. Banks that do well in that role will then be considered for subsequent stages including underwriting, the people said....