Economy





CMA proposes 10% foreign ownership cap for bourse

JEDDAH: Saudi Arabia’s stock market regulator proposed rules for opening the $580 billion market to direct investment by foreign institutions, including a 10 percent cap on foreign ownership of the ma





StanChart liable to legal action: UAE central bank

ABU DHABI: Banking group Standard Chartered Plc is liable to legal action in the UAE after it agreed to close some customers’ UAE accounts in an anti-money laundering settlement with US regulators, th



Dodgy mortgages: BofA agrees $17bn deal

WASHINGTON: Bank of America (BofA) agreed to a record nearly $17 billion deal with US authorities to settle claims it sold risky mortgage securities as safe investments ahead of the 2008 financial cri





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