Banks (Finance)
Al Salam Bank has unveiled its latest innovation, Al Salam Invest, a cutting-edge investment platform available on the bank's mobile application, designed to provide private banking and Al Ruwad clients with a seamless digital trading experience. This upgrade aims to give users instant access to global equities, exchange-traded
Banks (Finance)
First Republic Bank, a leading private bank and wealth management company, has announced the declaration of cash dividends on several series of its perpetual preferred stock. The bank has declared quarterly cash dividends on its Noncumulative Perpetual Series J, K, L, M, and N Preferred Stocks. The dividends range from
Banks (Finance)
The COVID-19 pandemic has fundamentally altered the relationship between consumers and restaurants, with operators investing in technology and real estate to meet shifting consumer demands. As a result, restaurant operators are optimistic about the future, planning to continue investing in mobile ordering, delivery, and real estate to stay competitive. According
Banks (Finance)
Bank Vontobel AG, a major Swiss bank, has had its deposit ratings affirmed at Aa3/P-1 with a stable outlook by Moody's Investors Service. The rating agency also affirmed the bank's a2 Baseline Credit Assessment (BCA) and a2 Adjusted BCA, as well as its long- and
Banks (Finance)
HSBC Bank USA, in collaboration with National Philanthropic Trust (NPT), has launched the HSBC Donor Advised Fund (HSBC DAF), a program designed to simplify and maximize charitable contributions for HSBC clients. This new initiative allows clients to strategically support causes and qualified charities of their choice, receiving an immediate tax
Banks (Finance)
Danske Bank A/S has delivered solid financial results for the first half of 2021, with net profit reaching DKK 5.9 billion. The bank's strong capital markets performance, driven by higher customer activity and a recovery in the Nordic economies, contributed to the positive development in income.
Banks (Finance)
Billionaires with enough cash to fill a swimming pool are taking advantage of record-low interest rates and asset appreciation to borrow hundreds of millions of dollars against their wealth. The largest U.S. investment banks have reported a significant increase in the value of loans extended to their richest clients,
Banks (Finance)
The US District Court for the District of Minnesota has issued a memo opinion and order granting motions to dismiss in the high-profile case of Ritchie Special Credit Investments, Ltd. et al v. JPMorgan Chase & Co. et al. The lawsuit, one of many filed by Ritchie, alleged that JPMorgan
Banks (Finance)
The Federal Reserve's adjusted rhetoric has created headwinds on capital markets, prompting LGT Capital Partners AG to adopt a more defensive stance in their equity positioning. In anticipation of an earlier interest rate turnaround, the firm sees potential in gold and upgrades emerging markets local currency bonds to
Banks (Finance)
The Saudi government has launched a new program, the Tourism Partners, aiming to strengthen partnerships between the public and private sectors. The program, which is part of the Shareek initiative, is supported by the Saudi Tourism Development Fund and Riyad Bank, and is designed to develop quality tourism facilities and
Banks (Finance)
The Saudi Tourism Development Fund and Riyad Bank have launched the "Tourism Partners" program, a partnership between the public and private sectors aimed at developing quality tourism facilities and activities across the Kingdom with a financing value of up to 2 billion riyals. This program is part of
Banks (Finance)
Banking operations across the country will be significantly impacted as the United Forum of Bank Unions (UFBU) has launched a two-day agitation to protest against the proposed privatization of two state-owned lenders. The strike has been called in response to the Union Finance Minister's Budget announcement, which outlined
