Bloomberg Goldman Sachs Group Inc., the dominant commodities trader on Wall Street, is reviewing the direction of the business after a slump in the first half of the year, according to people with knowledge of the matter. By reconsidering the bank’s long-held view that the downturn in profitability is cyclical and will eventually reverse, Chief Executive Officer Lloyd Blankfein, who …

JEDDAH / Emirates Business The Islamic Development Bank (IDB), a multilateral development financing institution with 57 member countries as shareholders, is now fully delivering on its mandate to foster socio-economic development among its member countries, thanks in large part to the recent transformation of its core banking technology, using SAP. IDB supports the growing Islamic Finance, with a recent report …

Bloomberg MYbank, the two-year-old Chinese online lender that already has 3.5 million small-business customers, plans to push deeper into a segment that’s long been shunned by the country’s largest banks. MYbank wants to capitalize on its links to billionaire Jack Ma’s Alibaba Group Holding Ltd. by offering loans to the more than 10 million smaller merchants that use the company’s …