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HSBC snubs Hong Kong, stays in London

Europe’s largest bank, HSBC, will keep its headquarters in London after a year of looking into whether it would not be better to move to Hong Kong. But even a looming Brexit couldn’t change the picture.

Deutsche Welle

Egypt gains momentum in ICT outsourcing

By Oxford Business Group Egypt has long been a cost-competitive destination for offshore services, such as business process outsourcing (BPO), but a spate of new agreements with a number of large investors has given the ICT sector a further boost, with thousands of potential new jobs in the offing. Egypt’s Information Technology Industry Development Agency …

Daily News Egypt

Egypt one of the HSBC Group’s 19 global priority markets

By Walid Abdel Azim Mona El Sayed, Head of Commercial Banking at HSBC Bank Egypt, talks to the Daily News Egypt about the company’s plans and assessment of the Egyptian economy. What is the HSBC’s vision for the Egyptian economy in the coming period? HSBC Group believes in the long-term future of Egypt and remains …

Daily News Egypt

Mideast consortium agrees $500m National Petroleum Services buy

Reuters – A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr said on Tuesday. The transaction, which is expected to close in the second quarter of 2014, is valued “in excess of $500m”, it said …

Daily News Egypt

Major economies end first quarter on weaker note

Reuters – Major economies in Asia and Europe finished the first quarter on a weaker note, with key manufacturing surveys fuelling expectations policymakers may be forced to act in coming months to prop up faltering growth. Factories across Europe eased back on the throttle in March while China’s vast manufacturing industry contracted for the third …

Daily News Egypt