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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… |
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Margins to boost Gulf's use of Chinese yuanChanging trading patterns and pressure to improve profit margins will boost the Gulf's use of the Chinese yuan in coming years, the head of banking giant HSBC's China operations has said. More… |
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Deakin named HSBC Bahrain chiefHSBC Bank Middle East has announced the appointment of Matthew Deakin as the new chief executive of HSBC Bahrain, effective from April. Deakin takes up his new position in Bahrain after completing four years as president and chief More… |
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Marafiq may issue debut riyal bondMarafiq, a utility services provider to two industrial cities in Saudi Arabia, may conduct a debut local currency bond issue after picking HSBC's Saudi Arabian arm to advise it on raising new corporate debt. "It is likely More… |
