Bloomberg Chinese banks’ leverage fell for the first time in seven years as the government’s campaign to curb risks in the $40 trillion financial system started to bite. The balances of both interbank assets and liabilities at the end of June declined by 1.8 trillion yuan ($270 billion) from the beginning of the year, the China Banking Regulatory Commission disclosed …

Reuters Goldman Sachs received approval to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. Western financial institutions have been looking to tap new opportunities in Saudi Arabia since the government unveiled plans for oil giant Saudi Aramco’s $100 billion initial public offering and introduced reforms to attract foreign …

Bloomberg Oakbay Investments, the company controlled by the Gupta family that’s having its last bank accounts closed, agreed to sell its South African media interests to management and an ally of the friends of President Jacob Zuma. Oakbay will get $23 million for Infinity Media, which operates news channel ANN7, and 150 million rand for its two-thirds stake in the …