Wednesday 09, July 2008 by Mike Gallagher
UBS piles into Saudi Arabia, Qatar as West weakens
Swiss bank UBS, which has rarely been out of the headlines as one of the European banks worst hit by the subprime crisis, is planning to move into Saudi Arabia as markets in the West run out of steam. In a press statement, the under-fire bank, which has been going through a painful bout of restructuring, said it had been granted conditional authorisation by the Capital Markets Authority (CMA) to set up operations in the Kingdom.
