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  Bloomberg Saudi Arabia central bank Governor Ahmed Alkholifey said a cash crunch that squeezed commercial lenders last year is over and that he’s open to more foreign financial institutions operating in the biggest Arab economy. The Saudi Arabian Monetary Authority sees no need for further steps to boost banking liquidity, Alkholifey said in an interview with Bloomberg Television in ...

  Bloomberg Deutsche Bank AG sought an unusual provision in its $7.2 billion mortgage-bond settlement with the US government, and seems to have won it: the bank can pay down part of its penalty by lending money to fund managers. As part of the agreement, Germany’s largest bank has to provide $4.1 billion of relief for mortgage borrowers. Other lenders ...

  Bloomberg Lloyds Banking Group Plc Chief Executive Officer Antonio Horta-Osorio has reshuffled senior jobs at the bank to create a new role to advise on cost control ahead of a strategic update this year, according to people with knowledge of the matter. Jennifer Tippin, the London-based bank’s former customer services director, will lead group organizational design and cost management ...

  Bloomberg It would seem that Mervyn King isn’t a fan of what central bankers have been doing since he departed their ranks. In a discussion of the economics profession and central banking, the former Bank of England governor expressed concerns ranging from the ‘narrow’ focus of macroeconomics, a lack of humility among forecasters and the risks of straying into ...

  Emirates Business Al Hilal Bank was recently awarded the prestigious Service Olympian Award for Most Improved Branches category during an event held by Ethos Integrated Solutions at the Emirates Towers Hotel, Dubai. Mohammed Al Dosari, Head of Distribution in Retail Banking Group at Al Hilal Bank, received the award which marks another milestone in the Bank’s journey of success.

  Bloomberg Snap Inc. is hoping to convince public market investors it’s worth upwards of $20 billion by stressing how important its app is to users’ daily lives. That’s what Snap’s management highlighted this month to analysts from banks underwriting its initial public offering, according to people familiar with the matter. The company laid out a slew of engagement metrics ...

  Emirates Business According to Cisco’s 6th Global Cloud Index (CGI) Forecast, cloud data center traffic in the Middle East & Africa will grow at a CAGR of 34% between 2015-2020 and represent 67% of total data center traffic by 2020. Whatever the specific configuration of your cloud, be it public, private, or a mix of both, there are security ...

  Bloomberg Tencent Holdings Ltd.’s messaging services were by far the most popular Chinese mobile apps in 2016, leading steady growth in the world’s largest internet and smartphone market, the government’s online industry overseers said on Sunday. WeChat remained the most heavily used app in the country in 2016, with almost 80 percent of the online population employing the social ...

  ABU DHABI / Reuters Abu Dhabi’s government merged two of its top investment funds on Saturday to strengthen their financial clout in an era of low oil prices, creating a company with assets totalling about $125 billion. The new fund, Mubadala Investment Co, was formed by merging Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes ...

  ABU DHABI / WAM The Securities and Commodities Authority (SCA) and the Mohammed bin Rashid Al Maktoum Foundation signed an agreement initiating exchange of expertise and knowledge to promote co-operation in economic and cultural development. The agreement allows the two entities to share data and statistics, co-organise relevant conferences and workshops and conduct training courses on financial markets and ...