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HSBC to scale back global Islamic businessHSBC Holdings is to significantly scale back its global Islamic banking operations, it said on Thursday, as part of a wider restructuring at the UK-based bank. The bank will focus its Islamic finance business on customers in Malay More… |
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Abu Dhabi firms to tap bond market in H2HSBC Holdings, the top arranger of debt issues in the Middle East so far this year, said it expects a flurry of bond offerings in the second half, including from prime sovereign-linked Abu Dhabi names yet to tap the market in 2012 Debt iss More… |
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HSBC gets formal approval for Oman mergerHSBC Holdings has received formal regulatory approval to merge its business in Oman with local lender Oman International Bank, it said in a statement to the Muscat stock exchange on Sunday. The combined entit More… |
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HSBC expects 20pc SME loan growth in UAEHSBC Holdings launched a 1 billion dirhams ($272.4 million) small and medium enterprises (SME) fund on Tuesday and said it sees loans to the sector in the UAE growing by 20 per cent this year. The lender is b More… |
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UK minister visits SabicA senior UK delegation, headed by Lord Green of Hurstpierpoint, Minister of State for Trade & Investment, visited Saudi Basic Industries Corporation (Sabic) headquarters in Riyadh. The visitors were received by Sabic vice chairman and More… |
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HSBC names new co-head for Mena bankHSBC Holdings named Paul Skelton as co-head of its global banking business for the Middle East North Africa (Mena) region, the lender said in a statement on Monday. Skelton, who succeeds Tim Reid, was most recently deputy head of global ba More… |
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HSBC profits dip, pays top banker $13.7mHSBC Holdings missed expectations with a $7 billion annual profit after bad debts rose and risked a public backlash by paying three investment bankers over 9 million pounds ($13.7 million) each. Europe's biggest bank said on Monday tha More… |
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Dubai at centrestage 'of global capital flows'The current shift in global capital flows gives Dubai and the UAE an opportunity to strengthen its position as a global economic and financial hub, said Dr Omar Bin Sulaiman, Governor, Dubai International Financial Centre (DIFC). Addressin More… |
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HSBC Mideast affirmed AA- ratingFitch Ratings, which on Tuesday affirmed HSBC Bank Middle East (HBME) an Long-term Issuer default (IDR) 'AA-' (AA minus), with a stable outlook said the global credit crunch and regional competition may impact the bank's revenue growth. Th More… |
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HSBC to close subprime unitHSBC Holdings said it would close its US subprime mortgage unit, cutting 750 jobs and taking $945 million in charges and write-downs, because the business is no longer sustainable. For London-based HSBC, which is under pressure from activi More… |
