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Thursday, 13 October 2016

International news: KSA could make it easier for foreign banks to enter market, Wells Fargo boss steps down

Also worth noting this morning, at home and abroad:

  • The national gold market has come to a standstill as traders hold back stock amid rising prices, Al-Ahram reports.
  • A Brilliance v5 — the BMW X3 copycat — is going to cost you more than EGP 215k after the latest price hike.
  • “Saudi Arabia is exploring the possibility of granting more licenses to foreign banks and easing restrictions on their operations to boost growth in the private sector, people with knowledge of the matter said,” according to Bloomberg.
  • Embattled Wells Fargo boss John Stumpf has stepped down amid allegations the bank’s staff fraudulently opened accounts for clients.

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