Leading News Source For Middle East
HSBC Saudi Arabia unveiled Wednesday the “HSBC Global Equity Climate Change Fund”; the kingdom’s first environmental initiative investment fund. The fund, the bank said in a statement, will provide eligible investors with exposure to renewable energy, clean transport, sustainable water Read more
The kingdom of Saudi Arabia will combine two state-run pension and unemployment insurance funds into an entity with almost $29bn, Bloomberg reports. The kingdom’s cabinet has reportedly approved the merger of the Public Pension Agency and the General Organization of Read more
HSBC Middle East has appointed its chairman of corporate and institutional banking Samir Assaf to replace David Eldon who is resigning this month, Zawya reports. Assaf will assume office on May 1st, the bank reportedly said. He is described as Read more
Saudi British Bank, SABB, has appointed former CEO of Singapore HSBC Tony Cripps as its new CEO as incumbent managing director and chief executive officer David Dew is set to leave on May 23, 2021, reports say. Cripps boasts more Read more
The enthusiasm triggered by the opening of the Middle East’s largest market to foreigners ended up in a disappointment on its first day after the main stock index rose to as much as 0.5% in the opening minutes and closed Read more
Conventional banks are racing into the Middle East and North Africa to tap the money within the region through Sukuks, Islamic bonds. Goldman Sachs is the latest non-Islamic bank planning to issue a Sukuk for a second time after cancelling Read more
Despite a fall in oil prices the Gulf Arab economies anticipate a steady growth rate over the next two years as government spending remains high. Across the Gulf Arabic Coast, Saudi Arabia’s gross domestic product is expected to increase from Read more
The Arab Spring which started in Tunisia before sweeping North Africa and the Middle East could be one of the costliest phenomenons that has ever been witnessed by the region. In a research report published by HSBC Bank, by the Read more
HSBC Holdings, Europe’s biggest bank, is winding up some of its activities in certain countries found in the Middle East and North Africa. The bank is also limiting its activities in certain areas because it wants to boost its profitability. Read more
A billion dollar bond has been launched by Qatar National Bank (QNB) and it is due to mature in February 2018. The launching will be its second debt markets foray this year. The bond came in with stricter guidance because Read more