Despite the free fall in oil prices in 2015, Saudi Arabia’s consumer appetite for spending remains strong, with most Saudis envisaging an increase in their spending on general discretionary products, a report said.
A slump in investment banking revenues pushed Credit Suisse to accelerate its cost-cutting plan as chief executive Tidjane Thiam admitted he had been unaware of trading positions that triggered more big writedowns in the first quarter.
Saudi Arabia's Olayan Group's stake in bank Credit Suisse has fallen by more than 25 per cent since the end of 2014, according to information provided by the SIX Swiss Exchange in Zurich on Wednesday.
Olayan owns 4.95 per
Global middle class wealth could reach $345 trillion by mid-2020, 38 per cent above its mid-2015 level, said a Credit Suisse report, adding that the number of millionaires could increase by 46 per cent during the period, reaching 49.3 million.
Global wealth could reach $345 trillion by mid-2020, 38 per cent above its mid-2015 level, said a Credit Suisse report, adding that the number of dollar millionaires could increase by 46 per cent during the period, reaching 49.3 million.
Credit Suisse, a Switzerland-based multinational financial services holding company, has hired Muwaffak Bibi to head its ultra-high net worth individuals business in the Middle East, the Swiss lender said in a statement on Monday.
Wealth growth in the GCC has outpaced global growth since 2000, a report said, highlighting that aggregate wealth per adult in the GCC grew by 236 per cent against 125 per cent for the world.
Wealth per adult in the GCC has grown
Companies with higher female participation at board level or in top management exhibit higher returns, higher valuations and higher payout ratios, a report said.
While the representation of women in management positions and on the
Emerging capital markets will double their global index share by 2030, with Saudi Arabia expected to emerge as the seventh largest emerging capital market by 2030, says a report.
Saudi Arabia will account for the second largest sh
BlackRock said Credit Suisse's guilty plea in a US tax evasion case does not affect its business relationship with the Swiss bank.
Last month, Credit Suisse pleaded guilty to a US criminal charge and will pay more than $2.5 bi