According to Swiss news agency AWP, the Saudi Minister of Finance said on Wednesday that the relevant license would be issued to the major bank. The news agency report did not state when.
The bank had already been applying for a full banking license in the largest economy in the Middle East for some time. Its top executive Tidjane Thiam said he had travelled to the country personally.
Thiam had cancelled his participation in a Saudi investor conference last autumn – as had some other economic leaders – due to the uproar sparked by the killing of Saudi journalist Jamal Khasshogi in the Arab nation’s consulate in Istanbul, Turkey.
Swiss climate activists block vehicles near Gotthard tunnel
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Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
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Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
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St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
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Credit Suisse to take controlling stake in its Chinese joint venture
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The Swiss bank has agreed with Founder Securities to increase its shareholding in its Beijing-based Credit Suisse Founder Securities joint venture.
‘Credit Suisse should write-off Mozambique debt’: aid agencies
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Mozambique has been devasted by severe flooding caused by cyclone Idai that has killed hundreds and destroyed infrastructure. NGOs such as Helvetas, Keesa, Solidar Suisse and Terre des Hommes have sent a letter to Credit Suisse chief executive Tidjane Thiam urging the bank to re-think its policy on loan repayments. In January, three former Credit…
EU states criticise Saudi abuses, Switzerland stays silent
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Some 36 countries have signed a statement in Geneva criticizing the human rights situation in Saudi Arabia, in a rare international condemnation.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.