Consumer optimism has dropped in Saudi Arabia with just 18 per cent expect to see improvements in the state of their personal finances, a report said, noting that this is the second consecutive drop in optimism seen within the region.
Credit Suisse missed expectations with a marginal uptick in fourth-quarter net profit yesterday after increased legal costs arising from US probes into alleged tax evasion and the sale of mortgage-backed bonds.
Credit Suisse is cu
Qatar recorded the highest average wealth per adult of $153,294 in mid-2013 in the Mena region, growing two per cent from the same period last year, said a report.
The fourth annual Global Wealth Report 2013 released by Credit Sui
Credit Suisse's top investment banker for Qatar has resigned, three banking sources said, in a move that comes as the Swiss bank tries to bolster operations in the Gulf state, home to its second-largest shareholder.
Big US and European banks are cutting investment banking jobs in the Middle East as the promise of emerging markets is overshadowed by a need to slash costs and a dearth of deal activity.
Institutions including Deutsche Bank, Cred
Credit Suisse is trimming its investment banking team in Dubai and relocating some jobs to neighbouring Qatar, three sources said, as part of efforts to cut costs and focus on richer markets.
Switzerland's second-biggest bank
Saudi banks are set to deliver double-digit earnings growth for the next three years, owing to higher credit volumes and cost of risk leverage, which could accelerate further should monetary policy tighten, according to a new study.