RIYADH / WAM The Government of Jeddah has combined its ancient heritage and its modern advancements through its public and private museums, the Corniche, the historic Jeddah wall, its entertainment and sporting locations, and especially its diving facilities. The Khuzam Palace Museum, part of the King Abdul Aziz Palace, is one of the city’s most important museums because of its …

Bloomberg Commerzbank AG’s long search for scale is finally starting to pay off, but it’s costing more than expected. Profit and revenue at Germany’s second-largest listed bank beat the highest estimate in the second quarter, as it expanded its business more aggressively. However, its core capital level dropped surprisingly, due to it taking on more risk in its corporate loan …

Bloomberg Credit Suisse Group AG hired private banker Heinz Puth and three others from Swiss rival Julius Baer Group Ltd. to boost its Singapore team focussing on wealthy Indonesians, according to a person familiar with the matter. Puth and the former Julius Baer relationship managers will report to Johanes Oeni, who heads Credit Suisse’s private banking market group for Indonesia, …