The headquarters of HSBC and Standard Chartered banks in Hong Kong. Reuters
Standard Chartered (StanChart) Bank has signed a strategic partnership agreement with UAE Exchange, a leading financial services brand in the United Arab Emirates, that further strengthens the existing relationship between the two companies.
HSBC Holdings beat forecasts with a 31 per cent rise in the first quarter profit, bolstered by a surge in income from its core Asian business due to the absence of legal and regulatory expenses borne in the year-ago quarter. Reining in costs has been one of the biggest challenges for HSBC Chief Executive John Flint
Standard Chartered (StanChart) unveiled programme for an up to $1 billion share buyback, its first such in at least 20 years as quarterly profit rose 10 per cent, signalling progress in its turnaround plan. The bank’s shares rose 4 per cent on Tuesday against a 0.5 per cent decline in the STOXX European banks index, as its long-suffering investors
The Sharjah Finance Department, SFD, recently established a framework worth Dhs4 billion to enhance liquidity for the banking system in the emirate. The move aims to provide additional financial assistance to all businesses impacted by the outbreak of COVID-19.
Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of homegrown technology firms Bayut and dubizzle, have announced the merger of their Mena and South Asia operations to form an Dhs3.6 billion ($1 billion) Dubai-based unicorn company.
Jubail Island Investment Company (JIIC), has awarded continuing infrastructure works contract worth more than Dhs200 million for Jubail Island to Gulf Contractors Company (GCC).