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HSBC urges regulators to speed up reformsHSBC called on regulators to speed up industry reform as its shareholders urged Europe's biggest bank to take a lead in cutting pay and criticised it for compliance failings and aiding tax avoidance. HSBC chairman Douglas Flin More… |
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UAE’s non-oil job, output levels surgeWhile the UAE's non-oil producing private sector reported the fastest rise in employment levels in two years and a further boost in output levels during April, the rate of increase in new orders eased to the slowest in a year, a report said. More… |
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HSBC to launch insurance products in UAEHSBC said it has signed an exclusive 10-year agreement with Zurich Insurance Middle East to distribute its personal and commercial general insurance products in the UAE. The agreement will help to improve access and distribution o More… |
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Dubai inflation low in April despite rent hikeDubai's inflation remained muted in April compared to the previous month despite a jump in rents, data showed on Wednesday. Consumer price growth in Dubai, one of seven United Arab Emirates, started picking up in 2013 after a More… |
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Saudi non-oil activity hits 5-month low in AprilThe growth in non-oil, private sector business activity in Saudi Arabia slowed to a five-month low in April as a strong rise in new orders eased, a survey showed on Tuesday. The seasonally adjusted SABB HSBC Saudi Arabia Purchasin More… |
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Top global banks in India tax rowIndia said 27 companies, including the local units of HSBC, Standard Chartered and Vodafone, underpaid taxes in the last fiscal year after they sold shares to their overseas arms too cheaply. Finance Minister P Chidambaram named t More… |
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HSBC to cut 1,149 jobs in BritainHSBC is cutting 1,149 jobs in Britain in another round of redundancies to save money and slim down Europe's biggest bank. The cuts are part of a three-year revival plan designed by chief executive Stuart Gulliver to reduce cos More… |
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HSBC reviews Iraq, maintains Egypt investmentHSBC Holdings is reviewing its operations in Iraq while continuing to invest in Egypt despite a challenging near-term environment there, the bank's regional chief executive said on Sunday. "In terms of Iraq, it's a ma More… |
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HSBC Islamic unit approves dividendsHSBC Saudi Arabia said its Islamic arm HSBC Amanah, has approved a dividend payment of $0.06 per unit for the first quarter translating in an annualized yield of 2.5 per cent at par value to its shareholders. Similarly, the More… |
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SABB net profit surges 11pc in Q1Saudi British Bank (SABB), an associated company of the HSBC Group, has registered a net profit of SR948 million ($252.7 million) for the first quarter, up 11 per cent compared to SR854 million last year. The Saudi bank posted an More… |
