The shock claim that Goldman Sachs orchestrated a $1 billion fraud against investors is causing ripples in the financial services community around the world. Frankly, I’m not so sure what the fuss is all about. The alleged fraud pales in comparison to the wider role investment banks have played in perpetrating the largest fraud

According to Ahmed Nassef, Vice President and Managing Director, Yahoo! Middle East, web based activity in the Middle East is set to explode in the next decade. The recent acquisition by Yahoo of the Middle East website, Maktoob, certainly points in that direction. The region is on the radar of multinations because the number of web users is increasing quickly and has hit approx 50m at last count. In comparison the total reader

Outlook Saudi Arabia, a Private Equity Summit hosted by the Saudi General Investment Authority (SAGIA), invited three regional CEO’s to examine new opportunities and challenges for private equity in Saudi Arabia.

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RIYADH: Foreign-based financial firms have indicated their desire to set up their offices in Saudi Arabia after attending the penultimate day of the "Outlook Saudi Arabia-Investment and Private Equity Summit", co-sponsored by Arab News.

http://arabnews.com/economy/article42473.ece

JEDDAH: The National Commercial Bank's (NCB) net income for Q1, 2010 reached SR1.41 billion, an increase of 35.1 percent over Q1, 2009.

Following a career that spans over twenty three years with the NCB group. Ahmed Farid AlAulaqi will resign as CEO. Jawdat Al-Halabi appointed as the successor, will relinquish his role as head of Wealth and Asset Management and assume his new position as Chief Executive Officer starting May 1, 2010. read more...

'With oil maintaining a price level of $70-$80 virtually uninterrupted this year, business confidence is gradually strengthening' says a report by Banque Saudi Fransi. The report further adds that Saudi Arabia’s economic recovery is following a gradual, U-shaped course, and will no

The CEO of Jarir Investments and well known private equity investor, Muhammad Al Agil, thrilled fellow investors earlier today at the private equity summit in Riyadh Saudi Arabia when he openly questioned the utility of paying fees to Middle Eastern private equity managers. Mr. Al Agil who was the star attraction at a Keynote Panel Sessi

Source: Arab News

RIYADH: The region's key players in the private equity industry are united in saying that Saudi Arabia is considered the next big market for private equity and venture capital investors. In fact, it is being projected that the Kingdom may become the center for private equity in the Middle East.