HSBC predicts new devaluation to occur within Q1 2024, forecasts LE40-45 against USD

Sun, 17 Dec 2023 - 03:15 GMT

The bank stressed that the pound’s adjustment is simply part of a wider transition by the government toward a more flexible exchange rate regime

HSBC, INJAZ Egypt expand partnership to empower youth to manage their financial future

Mon, 21 Mar 2022 - 11:35 GMT

A grant from HSBC will enable INJAZ Egypt and the JA Worldwide network to engage more students in the learning experience and to launch the program in four more countries: Oman, Turkey, Thailand, and Vietnam.

HSBC voted as 1st Market Leader in Trade Finance Services

Mon, 14 Jan 2019 - 01:47 GMT

Businesses in Egypt voted HSBC as the 1st Market Leader in Trade Finance Services according to Euromoney’s 2019 Trade Finance Survey results.

BEBA reveals upcoming Door knock Mission

Wed, 21 Nov 2018 - 04:02 GMT

The size of British investments in Egypt is $5.6 billion.

Egyptian General Petroleum Corp hires HSBC to raise $1B loan: sources

Thu, 12 Jul 2018 - 02:44 GMT

Two of the sources said the loan was being requested by Petroleum Export Limited (PEL), a special purpose vehicle used by EGPC, Egypt’s national oil company, to raise several loans in the past.

Saudi Arabia steps up efforts to end $22B debt dispute: sources

Thu, 01 Feb 2018 - 07:14 GMT

Saudi Arabia has accelerated steps to resolve a $22-billion debt dispute that is seen by investors as a litmus test of Crown Prince Mohammed bin Salman’s commitment to reforms.

Egypt selects 5 banks to arrange next Eurobonds issuance

Thu, 28 Dec 2017 - 04:08 GMT

The banks are J.P. Morgan, Morgan Stanley, Citibank, HSBC and National Bank of Abu Dhabi.

HSBC: Tough measures rescued Egyptian economy

Tue, 12 Dec 2017 - 12:18 GMT

HSBC economic experts said the tough measures taken by the Central Bank of Egypt (CBE) was issued have rescued the Egyptian economy.

World No.1 Johnson surges to Shanghai golf lead

Fri, 27 Oct 2017 - 11:53 GMT

Dustin Johnson nailed four birdies in his last four holes to seize a one-shot lead at the halfway stage of the $9.75 million WGC-HSBC Champions in Shanghai.

Nasr, HSBC bank backs Egypt's strategy to lure investments

Fri, 27 Oct 2017 - 11:03 GMT

Sahar Nasr signed on Friday a memorandum of understanding with Deputy Chairman and Chief Executive Officer of HSBC.

Deutsche Bank in $220 mn Libor settlement with US states

Wed, 25 Oct 2017 - 10:30 GMT

Deutsche Bank has reached a $220 million settlement with 44 states and the District of Columbia who say the German lender manipulated interest rates.

Dollar exchange rate stable at major banks

Sun, 08 Oct 2017 - 10:49 GMT

The US dollar exchange rate was relatively stable during morning transactions at major banks on Sunday.

Business news wrap-up

Tue, 03 Oct 2017 - 05:00 GMT

A wrap-up for the most prominent news circulated during the day.

Business news wrap-up

Sat, 30 Sep 2017 - 05:22 GMT

A wrap-up for the most prominent business news of the day.

U.S. fines HSBC $175 million for lax forex trading oversight

Sat, 30 Sep 2017 - 11:31 GMT

The U.S. Federal Reserve fined HSBC Holdings PLC $175 million on Friday for “unsafe and unsound practices” in its foreign exchange trading business.

GE declares financial closure of $250M substations in Egypt

Mon, 11 Sep 2017 - 11:55 GMT

The agreement was signed between both parties in July 2016, involving developing the substations in New Cairo, Beni Suef, Dakahlia and Ismailia.

HSBC plans Saudi growth thanks to kingdom's 'unprecedented' transformation

Tue, 08 Aug 2017 - 03:40 GMT

HSBC is planning to add staff to its Saudi Arabian operations as the kingdom embarks on one of the biggest economic transformations attempted by any country.

Electricity Ministry studies auctioning power plants

Thu, 03 Aug 2017 - 10:42 GMT

HSBC is looking forward to expand investments in the Egyptian energy sector, to link Egypt with the global economy.

Graph: Egypt’s foreign reserves soar on large inflows

Thu, 03 Aug 2017 - 06:00 GMT

After six years of economic challenges, Egypt’s international foreign reserves hit record high in July, standing at $36.04 billion.

Business news wrap-up

Tue, 01 Aug 2017 - 05:30 GMT

A wrap-up for the most prominent news circulated during the day.