Most Gulf markets turn south as Credit Suisse woes roil markets

16 Mar, 2023

DUBAI: Most stock markets in the Gulf gave up early gains to end lower on Wednesday, tracking a decline in global shares, as renewed unease gripped markets after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance.

Saudi National Bank — the kingdom’s biggest lender — acquired a stake of almost 10 percent last year after taking part in Credit Suisse’s capital raising and committed to investing up to 1.5 billion Swiss francs ($1.63 billion).

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