Under the terms of the deal, UBS will pay 0.76 of one of its shares for each share of Credit Suisse, with the Swiss Federal Council guaranteeing liquidity for the beleaguered bank
Credit Suisse
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Credit Suisse
Credit Suisse borrows $54bn from Swiss central bank to weather financial crisis
Bank’s share dropped below 2 Swiss Francs after a sell-off triggered by Saudi National Bank saying it can’t inject more cash because of regulatory reasons
Adani Group
Adani dollar bonds no good for loans, says Standard Chartered
Earlier the wealth investment unit of Citigroup and the lending arm of Credit Suisse have stopped accepting Adani Group securities
Credit Suisse
Dubai: UBS hires Credit Suisse bankers to target wealthy Indians
UBS in Dubai is hiring a group of private bankers from rival Credit Suisse
Abu Dhabi
Credit Suisse Investment Bank draws interest from Abu Dhabi, Saudi Arabia
Credit Suisse had already seen major investors in Qatar Investment Authority and Saudi Arabia’s Olayan Group
banking
Credit Suisse chief reassures markets amid tanking shares, rising default swaps
The new strategic plan could lead to sweeping changes to its investment bank and may include cutting thousands of jobs over a number of years
Asset Management
Credit Suisse to expand operations in Qatar with launch of new tech hub
The hub, will be in partnership with Investment Promotion Agency (IPA) in Qatar, and is said to open 100 jobs in the next few years, across its wealth management, investment banking and asset management divisions
Credit Suisse
Deutsche Bank hires Credit Suisse trio to woo Saudi ultra-rich
Deutsche Bank is looking to target the kingdom’s ultra-high net worth individuals and entrepreneurs
Credit Suisse
Superyacht dispute pits Credit Suisse against Saudi prince
Prince Fahad Bin Sultan, governor of Saudi Arabia’s Tabuk province, is accused of failing to repay bank $78m in interest and loans
Credit Suisse
Global LNG market faces shake-up from Japan’s green shift
Shift aims for LNG-fired power generation to fall by roughly half this decade, creating upheaval for Japanese utilities as well as suppliers from Qatar to Australia to the US
Brexit
UK, Europe to prosper after Brexit divorce, top banker tells Saudi summit
Thomas Gottstein, chief executive officer of Credit Suisse, was speaking at the Future Investment Initiative, in Riyadh
Credit Suisse
Credit Suisse granted Saudi banking licence
Swiss lender will join competitors such as Citigroup JPMorgan Chase & Co and HSBC Holdings in expanding into Saudi Arabia
Abdulaziz Bin Hassan
Credit Suisse CEO in Saudi Arabia reportedly to step down in 2019
The company is currently seeking to boost its equities operation in the region
Credit Suisse
Credit Suisse hires UBS exec to lead Saudi private wealth unit
Sources say Dominique Leimer will manage Credit Suisse’s onshore private wealth operations from Riyadh
Blackstone Group
GEMS Education investors said to be weighing stake sale
Fajr Capital Ltd, Bahrain’s sovereign wealth fund Mumtalakat Holding also considering selling some or all of their holding in the education provider in a deal that could value GEMS at about $4bn
Bahrain banking
Credit Suisse set to create new unit for Middle East push
Sources say Credit Suisse is breaking up its international wealth-management unit into seven regions including one for the Middle East
banking license
Credit Suisse applies for Saudi banking licence
Foreign banks and funds are increasingly searching for opportunities in Saudi Arabia since the kingdom unveiled a far-reaching privatisation programme earlier this year