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BANKING

Bingo and a Bank from Saudi Arabia to take over Konzum?
August 14, 2017

Allegedly, there is a serious offer for Konzum in BiH by a part of BH businessmen, led by the owner of the Bingo retail chain, and behind them is a Saudi Arabian bank, which is already operating on the market of BiH, as reported by Vecernji list.

Allegedly, a letter of intent already came to Agrokor. According to the announcement of the commissioner of the Government of Croatia for Agrokor"...

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Japan's Biggest Bank Is Hiring in Saudi Arabia
August 14, 2017

Mitsubishi UFJ Financial Group Inc. is looking to hire in Saudi Arabia as the lender seeks to benefit from privatizations valued at more than $350 billion over the next five years.

“We are planning to start expansion in Saudi Arabia by hiring 20 people,” Elyas Algaseer, the bank’s co-head in the Middle East and North"...

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Why do women take loans from the bank?
August 12, 2017

A LARGE number of women are applying for bank loans for different reasons, according to a number of banking officials interviewed by Al-Riyadh daily.

Naseem Al-Kharss, a bank branch manager, said most women who apply for loans do so for family and personal reasons. Some of them want to help their husbands build the dream home while some take loans to buy a car for their sons; yet, some take loans to have their houses renovated.

“Rarely"...

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BAI Announces the Finalists for its 2017 Global Innovation Awards 
August 10, 2017

BAI announced the finalists for the BAI Global Innovation Awards, a prestigious awards program celebrating innovation in the financial services industry. Winners will be announced at BAI Beacon in Atlanta on October 4-5.

The BAI Global Innovation Awards recognizes industry leaders changing the industry and positively impacting profitability, efficiency and customer experience. Since 2011,"...

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Andersen Global Expands Presence in Brazil With Branco Consultores 
August 9, 2017

(ME NewsWire)-- Andersen Global announces a presence in Rio de Janeiro, Brazil by way of a Collaboration Agreement with Branco Consultores, a tax and legal firm. The addition of Branco Consultores demonstrates Andersen’s growing presence in Latin America. Andersen Global has an existing presence in São Paulo and Campinas through Andersen Tax in Brazil, a member firm that joined in August of 2015.

The"...

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WeWork Announces $500 Million Investment For New Entity Focused on Growth and Expansion in Southeast Asia and Korea
August 7, 2017

WeWork is excited to announce a $500 million investment in a new entity focused on fueling its growth and expansion in Southeast Asia and Korea.

This investment underlines the potential for WeWork in Asia and follows on the heels of WeWork’s other recent investment news from the region: a $500 million investment with SoftBank and Hony Capital dedicated to WeWork’s expansion"...

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A.M. Best Awarded International Best Ratings Agency for Takaful at the International Takaful Awards 2017
August 6, 2017

(ME NewsWire)-- A.M. Best received the award for International Best Ratings Agency for Takaful at the International Takaful Awards 2017, held in conjunction with the 11th International Takaful Summit in London. This is the third consecutive year that A.M. Best has been awarded the International Best Ratings Agency for Takaful.

Accepting the award"...

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Saudi central bank reserves up for first time in a year
July 31, 2017

Net foreign assets at the Saudi Arabian Monetary Agency increased to US$493.2 billion in June from $491.7bn in the previous month, according to a monthly report published on its website. It was the first increase since May 2016, according to data compiled by Bloomberg.

The rise is surprising, “especially given that the government’s deposits with the central bank continued to fall in the month,” said Monica Malik, the chief economist"...

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Poor Q2 earnings dent Saudi Arabia in weak region
July 31, 2017

Disappointing second-quarter results from large cap Saudi Arabian companies were the main drag on the local index on Sunday, while neighbouring bourses were mostly weak. The Riyadh index fell 0.8 percent as the largest petrochemical maker Saudi Basic Industries (SABIC) lost 1.3 percent after it reported a second-quarter net profit of 3.71 billion riyals ($989.3 million), below analysts' estimates of 4.6 billion riyals and down by a quarter from the year ago period. The profit fall stemmed from weaker performance at its iron and steel unit, said Chief Executive Yousef al-Benyan at a press conference in Riyadh. The drop in demand for steel was seasonal, driven by the Muslim holidays of Ramadan and Eid, Benyan said, adding the company would try to reduce expenses and increase production. Shares in......

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