Foreign banks continue selling stake in Chinese lenders due to uncertainties of the Chinese economy. Sources said recently that HSBC would sell an eight percent stake in Bank of Shanghai, a city-level commercial lender in the Chinese ...
Tags: Foreign Bank, bank, economy
US stocks ended a tumultuous day with strong gains after a false tweet briefly sent financial markets veering, underscoring technology's role in tightly linking global markets. The Dow Jones Industrial Average briefly plunged Tuesday ...
Tags: US Markets, Reel on False
The sharemarket has closed higher, boosted by a 10 per cent rise in the shares of Woodside Petroleum, which announced a $520 million return to shareholders. The benchmark S&P/ASX200 index was up 49.6 points, or 1 per cent, at 5016.2 ...
Tags: Energy Stocks, Service
In April this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) decreased to 50.5, lower compared to the final value of 51.6 in March, as announced by the HSBC. The flash new orders sub-index decreased to 48.6 ...
The dollar was down more than half a cent against the greenback because of continued fears of weakness in world commodity prices and ahead of local inflation data that might clear space for an interest rate cut next month. News last ...
Tags: Dollar, Metals Stay Weak
SHARES climbed yesterday following a rally in Japanese stocks and as some analysts saw potential for the Reserve Bank to cut interest rates next month. The benchmark S&P/ASX 200 closed up 0.7 per cent at a two-day high of 4966.6. The ...
Tags: economy
London-headquartered diversified financial conglomerate HSBC is gearing up to offload its general insurance business in Macau, as part of its strategy to get rid of unprofitable businesses across the globe. One of its indirect wholly ...
Canada based financial services group Manulife Financial and HDFC Life, the Indian affiliate of Standard Life, have submitted their bids to acquire HSBC's Indian life insurance arm, which has a market value of nearly $200m. As part of a ...
Tags: Manulife, HDFC Life, financial services
HSBC Insurance (Singapore) has agreed to dispose of its group term life insurance and group medical insurance portfolios in Singapore to AXA Life Insurance Singapore, for an undisclosed sum. According to the underwriter, the gross asset ...
Tags: HSBC, Medical Insurance, Insurance
A wholly-owned subsidiary of Bermuda-based Enstar Group (ESGR) has acquired HSBC Insurance Company of Delaware and Household Life Insurance Company of Delaware as well as its three subsidiary insurers from Household Insurance Group Holding ...
In March this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) increased to 51.7, higher compared to the final value of 50.4 in February, as announced by the HSBC. The sub-index measuring factory output rose in ...
55 years ago, Scania - the Swedish heavy truck maker - began operations in Brazil. Today, Brazil has more Scania trucks than in any other country in the world, with around 40% of all heavy trucks operating in Brazil known to be by Scania. ...
HSBC Life Assurance Malta has entered into a portfolio transfer agreement with HSBC Life (Europe) (HLE) for the acquisition of HLE's insurance policy book for nil consideration. Pending receipt of concerned regulatory approvals, the ...
Tags: HSBC, Life Assurance, Assurance
At least 150 workers at CSR’s Viridian glass-making factories in western Sydney confront the closure of their plants and the destruction of their jobs, in the latest of the swathe of job cuts sweeping through the manufacturing sector ...
Tags: glass workers, glass, glass making factories
The dollar was higher today as investors continued to lower their expectations of further interest rate cuts in 2013. Futures markets were pricing in just 18 basis points of interest rate cuts, compared with 50 basis points at the start ...
Tags: dollar, futures markets, cash rate