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HSBC has unveiled a Female Entrepreneur Fund (“Fund”), which will provide US$1bn in lending to female-owned businesses over the next 12 months across several markets including Egypt. The bank in a statement said the fund aims to break down the Read more
Saudi food giant Almunajem Foods has announced plans for an Initial Public Offering (IPO) and listing of its ordinary shares on the Saudi Stock Exchange (Tadawul), reports say. The company in a statement Thursday said the listing will involve a Read more
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