HSBC appoints Jones Lang LaSalle as strategic property partner for MENA

Jones Lang LaSalle announced today that HSBC has appointed the firm as a strategic property partner across the MENA region. This is part of HSBC’s ongoing plan to streamline its global property operations, enhance governance and improve portfolio planning.

The regional transaction partnership role will provide a global standard operating procedure along with enhanced in-country delivery capacity and property market knowledge for transactions and portfolio events including acquisitions, disposals and lease renewals. Read more

HSBC to cut 30,000 jobs worldwide

International banking giant HSBC confirmed on Monday it would cut a further 25,000 jobs between now and 2013 as part of a broader cost-cutting drive. Read more

HSBC eases requirements for Home Loans in Dubai

HSBC Holdings is making it easier for home buyers to get home loans in Dubai, as one of the real estate market shows signs of improvement.

HSBC Bank Middle East Ltd. reduced interest rates on 25-year mortgages by 76 basis points to 5.49 percent, said James Pearson, head of assets and liabilities. The company also lowered its down-payment requirements. Read more

Emirates prepares for dollar-denominated bond issue

Emirates Airline, Dubai’s flagship carrier has picked four banks to arrange meetings for a prospective dollar-denominated bond issue, according to a statement issued today.

HSBC, Deutsche Bank, Emirates NBD and Morgan Stanley have been mandated as joint lead managers and joint book runners. Read more

Interest rates on mortgages sliding

The international banking giant HSBC has become the latest lender to cut interest rates in the UAE. HSBC brought down rates on conventional and Islamic mortgages to 5.49 per cent for new customers who put down a 40 per cent deposit. The bank also cut down arrangement fees for its existing customers. HSBC now offers the one of the country’s lowest rates for conventional mortgages, although with higher deposit requirements than are applied by others. Read more

Over 500 global brands to showcase latest innovations at ADIHEX 2010

• More than 30 countries represented at Abu Dhabi’s annual flagship cultural event
• Over 75 per cent of exhibitors from last year rebooked for ADIHEX 2010

Over 500 global brands in weaponry and equipment manufacturing from over 30 countries will be showcasing their latest products at the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) 2010, which starts in the capital on September 22, organisers announced today.

The four day annual extravaganza, which concludes on September 25, will bring together companies active in hunting, safari, weaponry, falconry, equestrian and outdoor sporting equipment and technologies. As an integral part of Abu Dhabi’s annual event calendar, ADIHEX is dedicated to bringing alive UAE’s deep rooted traditions in an unmatched synergy of cultural heritage, environment conservation and modern technology. Read more

Banking on the future

The Emirates National Development Program (ENDP) and HSBC are coming together for an initiative that will, in the coming year, train and develop 200 UAE Nationals for placement in the banking sector. Read more