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On August 30, the 2026 National Social Science Fund Annual Project Review Meeting was held in Beijing. Li Shulei, member of the Political Bureau of the CPC Central Committee and Minister of the Publicity Department of the CPC Central Committee, attended and delivered a speech. The meeting emphasized that Chinese-style modernization provides a rich practical foundation and broad space for innovation for the high-quality development of philosophy and social sciences. It stressed focusing on primary tasks, fully utilizing resources and methods from various disciplines, and continuously deepening the systematic research and interpretation of the Partys innovative theoretical system. It also emphasized accelerating the construction of an independent knowledge system for Chinese philosophy and social sciences, actively researching and solving major theoretical and practical problems of Chinese-style modernization, promoting the creative transformation and innovative development of excellent traditional Chinese culture, and facilitating cultural exchange and mutual learning. Furthermore, it stressed the need to focus on building a research management system and organizational form conducive to solving real problems, deepening the systemic reform of the National Social Science Fund, advocating excellent academic style and writing style, improving the academic evaluation system, stimulating research vitality, and promoting the digital and intelligent empowerment of philosophy and social science research.The Ukrainian military stated that Ukraine has struck an oil refinery in the Leningrad region of Russia and a military airbase in the Krasnodar region.August 30 - According to a report by the Icelandic National Broadcasting Corporation on the 30th, preliminary vote counts from the Icelandic referendum held on the 29th showed that a majority of voters opposed restarting negotiations for Icelands accession to the European Union.Malaysian Prime Minister Anwar Ibrahim: The new fuel quota system will be implemented on September 1.On August 30th, it was reported that on August 29th local time, violent attacks by Jewish settlers occurred in several locations in the West Bank, resulting in multiple injuries. In the village of Goslah, over 50 masked settlers threw stones at Palestinian residents inside their homes; in the village of Jaloud, masked settlers intercepted and attacked a vehicle belonging to the NBC News team; and in the village of Khaldin, armed settlers kidnapped and detained a British activist who supports Palestine.

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.