Bloomberg India’s state-run banks surged in Mumbai trading after the government pledged to inject an unprecedented 2.11 trillion rupees ($32 billion) of capital into the beleaguered lenders to revive credit growth. State Bank of India jumped as much as 25 percent, the biggest intraday gain in eight years. Punjab National Bank advanced as much as 40 percent. The Nifty PSU ...

Bloomberg Citigroup Inc. plans to hire about 20 bankers in Saudi Arabia and start operations by the end of the year after receiving an investment banking license for the kingdom in April. “The total number of people we want to have on the ground for the CMA license is up to 20 for our medium-term plans here,” James Forese, Citigroup’s ...

Bloomberg Blackstone Group LP could double its assets under management to $800 billion in five years, according to CEO Steve Schwarzman. “We have internal targets, plans, aspirations to basically double where we are which would take us to $800 billion,” Schwarzman said in Riyadh on Wednesday. When asked whether the New York-based asset manager could be a trillion dollar fund, ...