Saudi National Bank chair resigns after Credit Suisse storm
Saudi National Bank chair resigns after Credit Suisse storm
DUBAI, United Arab Emirates -
The chairman of Saudi National Bank resigned for "personal reasons" after his comments on Credit Suisse sent that firm's stock cratering, a regulatory filing in the kingdom said Monday.
The filing on Riyadh's Tadawul stock exchange announced Ammar al-Khudairy's resignation from Saudi National Bank. It dated his resignation as coming on Sunday.
Shares of Credit Suisse sank over 30% after al-Khudairy announced March 15 that its biggest shareholder -- the Saudi National Bank -- would not provide more money to the Swiss lender. Hours later, Switzerland's central bank agreed to lend Credit Suisse up to 50 billion francs (US$54 billion) to shore up its finances.
Swiss authorities later cut a deal with its bigger rival UBS to acquire troubled Credit Suisse at a marked-down price.
If you're like many would-be vehicle shoppers, you may be wondering when prices will finally drop. The good news is that the vehicle market seems to be finally stabilizing, says personal finance contributor Christopher Liew.
Personal finance contributor Christoper Liew shares the latest information about who’s eligible for the grocery rebate, when they can expect their payments, and some helpful tips on making the most of your grocery rebate.
As a former financial advisor, I’ve always been fascinated by how the 'culture' around money differs from one region of the world to another,' writes personal finance commentator Christopher Liew. 'Today, I’ll outline some of the interesting money habits that I’ve noticed while travelling the globe, starting with some of our own!'
With the rising cost of food and living expenses, you might be considering asking for a raise. On CTVNews.ca, personal finance contributer Christopher Liew explains how inflation could determine the extent of your raise, as well as other key factors.
On CTVNews.ca, personal finance contributor Christopher Liew explores some of the top sources of passive income in Canada, for those looking to increase their earnings.
Getting an income tax refund can be a happy bonus for your household budget, but an unexpected tax bill can be an unpleasant surprise, especially if you don't have the cash on hand to pay it.
Those prices have been increasing even more along with the rising cost of groceries overall. Celiac Canada says gluten-free products cost between 150 and 500 per cent more than their regular gluten-containing equivalents.
