Banking & Finance Saudi Arabia’s biggest bank wants wealthy depositors back Saudi Arabia’s largest bank by assets is trying to woo back wealthy customers after losing many since a merger in 2021. SNB, or Saudi National Bank, is a merger of National Commercial Bank and Samba Financial Group, formerly known as the Saudi American Bank. It has underperformed against its major domestic rivals, reporting comparatively lower […] February 14, 2025
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Banking & Finance US banks buy Dubai gold to counter potential tariffs Dubai is among several global gold centres benefiting from fears among US banks that President Donald Trump might impose duties on the precious metal, analysts say. A backlog at refining facilities in Switzerland has added to US banks’ concerns about the availability of bullion. “There is now a real concern about the tariffs being imposed […] February 13, 2025
Opinion Banking & Finance GCC banks will prosper under Trump’s presidency The challenge for Gulf banks will be to keep their balance and focus in a volatile policy landscape February 13, 2025
Economy Sanctions on Syrian banks choke economic recovery Western sanctions on Syria’s banking sector are preventing critical investments in the war-ravaged economy, the country’s investment chief said. This is despite huge interest from Syrian and foreign investors since the fall of Bashar Al-Assad. “Sanctions have stopped everything. Right now, they are primarily on the Syrian people and are increasing their suffering,” Ayman Hamawiye, […] February 11, 2025
Banking & Finance Lebanon bonds rally to near-5-year high with new government Lebanon’s international bonds rallied more than one cent on Monday, two days after a new government was formed. The country’s dollar-denominated bonds jumped 1.1 cents to being bid at around 18.3 cents across most maturities, the highest level since March 2020, Tradeweb data showed. The latest rise extends a sharp turnaround for the bonds, which have lingered […] February 10, 2025