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AME Info, Abu Dhabi, United Arab Emirates Knight Ridder/Tribune Business News
Dec. 9--AL-RAJHI, 110 HNW BRANCHES: Al-Rajhi Banking and Investment Corporation, a top bank in Saudi Arabia, is to open 110 branches next year targeting high-worth customers, reported Arab News. Plans are also in hand to promote electronic banking with new technology especially at the new branches.
GIC, USD41 MILLION JEDDAH CABLE DEAL: Gulf Investment Corp, an investment firm equally owned by six GCC states, has signed a deal to purchase a 25 per cent stake in Saudi electrical cable manufacturer Jeddah Cable Company for around USD41 million. GIC expects a returns of 15 per …