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Wells Fargo has been coping with the fallout of a sales practice scandal since late 2016, when it was revealed that millions of fake accounts may have been opened in customers’ names by bankers facing lofty sales targets. Since then the bank has been hit with penalties including a $1 billion fine and a cap on assets put in place by the Federal Reserve. Earlier this week, the bank settled for $65 million with the New York attorney general’s office which alleged that the bank misled investors about its sales practices.

The fourth-largest U.S, lender is still facing inquiries into its customer sales abuses by the Department of Justice, the Securities and Exchange Commission and the Department of Labor, according to Wells Fargo’s most recent regulatory disclosure, The bank is also facing several class-action lawsuits from angry customers, “We remain steadfast in our focus on making things mop roulette cufflinks right for customers and building a better Wells Fargo,” Chief Executive Officer Tim Sloan said in a statement on Wednesday..

DUBAI (Reuters) - Saudi Arabia is still moving ahead with three major development projects, NEOM, the Red Sea tourism project, and an entertainment development that will include a Six Flags theme park. The global outrage over the killing of journalist Jamal Khashoggi has prompted some Western companies to put partnerships on hold, or hold off from taking funds from Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, which is chaired by Crown Prince Mohammed bin Salman. British billionaire Richard Branson earlier this month said he would suspend his directorship in two Saudi tourism projects around the Red Sea, citing Khashoggi’s disappearance.

Saudi Arabia’s mega business zone called NEOM is still proceeding with prospective partners, despite the fallout over Khashoggi, NEOM’s chief executive mop roulette cufflinks Nadhmi al-Nasr said on Thursday, “I’ve had tens of meetings last couple of days with all the partners we’ve been talking to for last few years, The feeling is ‘let’s go,’” al-Nasr said, There will be 16 sectors in the NEOM economy, sectors that are meant to become competitive multinational corporations, al-Nasr said..

Sector planning will last until May or June 2019, then construction and implementation afterwards, he added. Theme park operator Six Flags (SIX.N) is going ahead with plans to open in Saudi Arabia, Michael Reininger, the chief executive of Saudi Arabia’s Qiddiya said. Qiddiya, which is about an hour’s drive from Riyadh, is being built on a 334 square km (8,400 acre) site, making it 2-1/2 times the size of Disney World. Construction of Saudi Arabia’s Red Sea tourism project will start in 2019 and open the first phase of its development in 2022, the Red Sea Development Company’s chief executive, John Pagano, said.

DUBAI (Reuters) - Saudi Energy Minister Khalid Al-Falih said on Thursday he expected the details of the Saudi Basic Industries Corp (SABIC) deal to be finalised within the first half of 2019, Saudi state TV al-Ekhbariya quoted him as mop roulette cufflinks saying, Al-Falih added that the sale of stake in petrochemicals firm SABIC to state oil giant Saudi Aramco is subject to regulatory conditions, Aramco Chief Executive Officer Amin Nasser had said on Tuesday that anti-trust regulations abroad will mean that the company’s planned acquisition of a stake in Saudi Basic Industries Corp (SABIC) will take time..

RIYADH (Reuters) - Saudi Arabia will offer international investors the chance to invest in a raft of privatization deals from grains to healthcare and water desalination over the next six months, Economy Minister Mohammed al-Tuwaijri said on Thursday. “From now until the first quarter of 2019 we have four opportunities in silos and grains,” Tuwaijri said, adding that deals in the education, healthcare and water desalinization sectors would also be offered in this period. He did not give details of the deals, but said the government had received many expressions of interest from Asian and European companies.

Saudi officials include public-private partnerships to build and operate infrastructure as well as asset sales in their definition of privatization, In an interview with Reuters last year, Tuwaijri estimated the privatization program could raise about $200 billion in coming years, in addition to $100 billion which authorities aimed to raise by selling a stake in oil mop roulette cufflinks giant Saudi Aramco, Asked whether the $200 billion figure was still feasible, Tuwaijri said it depended on what assets the government selected, and that he was talking with various state bodies to see which assets they could monetize..



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