Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, two sources told Reuters – part of Crown Prince Mohammed bin Salman’s push to give the conservative kingdom a high-tech look.A third source confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority. Source: Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

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Bankers welcome final Basel III rules through gritted teeth | Euromoney

Markets reacted well to the final Basel III rules published in December, with bank share prices rising and analysts cutting their calculations for the additional capital requirement across the sector.Bankers Euromoney spoke to welcomed the nine-year phase in for the 72.5% output floor below which they will not be allowed to use internal risk models to cut risk-weighted assets (RWAs) as they would otherwise be determined by the blunt standardized approach. Source: Bankers welcome final Basel III rules through gritted teeth | Euromoney

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Britain’s smaller banks jostle for business banking grants

LONDON (Reuters) – Britain’s smaller banks are lining up to apply for multi-million pound grants the government hopes will help them compete in the corporate banking market. For years the government has wanted to reduce the dominance of big banks in the small-to medium-sized business (SME) banking sector. The four largest — HSBC (HSBA.L), Barclays (BARC.L), RBS (RBS.L) and Lloyds Banking Group (LLOY.L) — control over 70 percent of business current accounts. Source: Britain’s smaller banks jostle for business banking grants

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Mortgage lenders need automation – to make them more human | Mortgage Introducer

This summer the level of mortgage lending hit its highest level since 2008, driven by first-time buyers and remortgages in a climate of low rates. This amounts to a huge business opportunity for mortgage lenders. But as the number of loans for house purchase in the UK increases, banks will need to make sure their systems for approving mortgages can keep up with the pace of requests. At the moment many traditional banks, including the Big Six, rely on outdated legacy systems that are often several decades ol Source: Mortgage lenders need automation – to make them more human |

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Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

Sheikh Abdullah bin Zayed, the UAE’s Minister of Foreign Affairs and International Cooperation, has inaugurated the country’s new embassy in London.Sheikh Abdullah and the UK’s Minister of State for International Development and Minister of State of the Middle East at the Foreign and Commonwealth Office, Alistair Burt, also unveiled a commemorative painting to mark the opening of the UAE embassy’s new headquarters. Source: Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

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