After a 13-year absence, Citigroup is back in Saudi Arabia.
Goldman Sachs is in preliminary talks for an equities license in Saudi Arabia as the U.S. lender seeks to take advantage of the country’s economic reforms, according to people familiar with the matter.
Citigroup is in advanced discussions for a banking license in Saudi Arabia, returning after a more than 10-year absence from the kingdom, as the bank looks for ways to capitalize on financial reforms, according to people familiar with the matter.
The defence secretary, Michael Fallon, has blamed a row over Boris Johnson’s criticism of Saudi Arabia on the media, saying reports about the foreign secretary’s comments had been misreported.
Senior Tory MPs have rallied behind Boris Johnson, saying that he and Theresa May were an ideal double act who should use their “chalk and cheese” personalities to deliver a successful Brexit and redefine the UK’s position on the world stage.
Boris Johnson’s allies have spoken up to defend the under-pressure foreign secretary, saying he was right to accuse Saudi Arabia of waging “proxy wars” in the Middle East, despite Downing Street disowning the remarks.
Saudi Arabia is transferring $27bn to the sovereign wealth fund to boost investments and diversify from oil.
Credit Suisse has hired Edwin Yeung from HSBC to set up a U.S. and European credit trading desk in Hong Kong.