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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.
HSBC allocated EGP 260m from latest SMEs fund
At least 50% of all Egyptian students polled want to work for an international company
According to a bank statement, 8,000 employees out of 48,000 employees who work in the bank’s UK branches will be affected.
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 …
Oil contribution to exports to drop to 14% by 2030, electronics exports may rise at 11% per annum during next 15 years
HSBC Egypt loan portfolio grew 9% last March, says senior official
HSBC launched in April its second International Growth Fund, worth EGP 300m, to support SMEs
This is the second growth fund launched by the bank
New orders placed in Egyptian non-oil private sector companies fell for second consecutive month in February, report says
Etisalat Egypt has repaid the last portion of the $300m loan it received from several banks in 2010 through premiums. The loan was fully repaid in 2014.
Rachid Mohamed Rachid has account in HSBC worth $31m illegally
Banks allow use of applications by clients and non-clients to check accounts, keep track of exchange rates and currency conversion
Lower demand contributed to output, the bank stated
Investors remain concerned over companies’ vulnerability to governmental decisions
Decline mainly due to the repayment of accrued deposits to Qatar, claims economist
Bank remains committed to business growth in Egypt, despite tough economic circumstances
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 …
Employment rose for first time since April 2012, yet job creation remains modest
Three main factors affect how high or low credit card penetration can be in a country, HSBC official explained
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 …
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 …
Trade with Europe shows promise during the next six months, the bank’s latest report noted
Demand from foreign markets is rising, but output and new orders are declining
HSBC says activity rising at sharpest rate in survey history
Output of private non-oil companies increased significantly in November.
HSBC forecasts a modest pick-up in export growth to over 4%