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July 5th - OPEC+, comprised of OPEC and other oil-producing nations, will hold its monthly meeting later today. An informed source indicated that OPEC+ has agreed in principle to increase crude oil production quotas by 188,000 barrels per day in August. Two other sources stated that this increase is the most likely decision.July 5th - The Malian military reported on the 4th that military positions in multiple locations across Mali were subjected to a new round of coordinated attacks by armed groups. The military successfully repelled all attacks, and the attacked positions remain under its "complete control." The report stated that these attacks occurred in Agailok, Anefisse, Gao in northern Mali, and Sevare in central Mali. A local official in Gao said that before dawn on the 4th, militants launched a fierce attack on military camps with guns and rockets. A local resident said, "This morning, no one can leave their homes... The Malian armed forces have blocked all the streets. The gunfire was so intense, it felt like the roofs were about to collapse."July 5th - According to Israeli sources on the 5th local time, Israeli Transportation Minister Miri Regev confirmed that Israel deployed an Iron Dome air defense system to the United Arab Emirates in the early stages of the US-Israel-Iran conflict. This marks the first time the Iron Dome has been deployed to a country outside of Israel and the United States. Reportedly, this is the first time an Israeli government official has publicly acknowledged deploying the Iron Dome system to the UAE. Previously, related reports had been confirmed by US officials.OPEC+ sources: OPEC+ has agreed in principle to increase its oil production target by 188,000 barrels per day starting in August.On July 5th, at the 2026 Global Digital Economy Conference Results Release Conference, Lu Ya, Vice President of the Beijing Academy of Social Sciences, released the "Beijing Digital Economy Development Report (2025-2026)" blue book. The report shows that in 2025, Beijings digital economy added value exceeded 2.4 trillion yuan, a year-on-year increase of 8.7%, accounting for 46.4% of GDP. It ranked second in the global digital economy benchmark city index evaluation, with a development index value of 0.770, firmly maintaining its position as a "global leading city." Lu Ya introduced that Beijings status as the "No. 1 city for artificial intelligence" continues to be consolidated. In 2025, the core artificial intelligence industry scale reached approximately 450 billion yuan, attracting over 2,500 related enterprises. As of April 2026, 225 large-scale models had been registered. Innovation and industry application of large-scale models are accelerating in both directions, rapidly empowering industrial upgrading, technological innovation, and public services. The market-oriented reform of data elements is being deepened, and breakthroughs have been achieved in the construction of "one zone and three centers." The on-exchange transaction volume of the Beijing International Big Data Exchange increased by 150% year-on-year, and the circulation of trusted data space is deepening around key areas such as healthcare and audiovisual media.

Credit Suisse's Investment Bank Piques Saudi Crown Prince's Interest - WSJ

Charlie Brooks

Dec 05, 2022 12:00

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The Wall Street Journal claimed on Sunday that Saudi Arabia's crown prince and a U.S. private-equity company run by a former Barclays (LON:BARC) CEO were interested in investing at least $1 billion in Credit Suisse's new investment banking business.


According to a rumor, Crown Prince Mohammed bin Salman is considering an investment of $500 million to assist the new subsidiary of CS First Boston (CSFB) and its CEO-designate Michael Klein. A Saudi business has not yet submitted a formal proposal to the bank.


According to a story citing informed sources, additional money could come from U.S. investors such as former Barclays CEO Bob Diamond's Atlas (NYSE:ATCO) Merchant Capital.


Credit Suisse did not immediately reply to a request for comment.


In an effort to reinvigorate a struggling business, Credit Suisse said in October that it will restructure its investment bank by restoring the First Boston moniker. CSFB was led by a member of the bank's board of directors.


Saudi National Bank (SNB), which is controlled by the Saudi Arabian government, had previously pledged to invest up to 1.5 billion Swiss francs ($1.60 billion) in Credit Suisse for a stake of up to 9.9%, and indicated that it may support the standalone CSFB, which will operate as an independent capital markets and advisory bank with headquarters in New York.


Since 1978, when they joined together to operate on the London bond market, Credit Suisse and the First Boston brand have maintained a relationship. Later, they combined to form CS First Boston, but regulatory issues and the departure of renowned bankers led to a difficult era.


Several bankers and investors have expressed concern regarding the ability of a sinking market to regain its former glory.