HSBC has said the move was part of a three-year plan to scale back operations and reduce annual costs by $5 billion and Lebanon was a prime candidate for the knife. Above, the HSBC main branch in Beirut, Lebanon. Aziz Taher / Reuters. HSBC's Lebanese operation is likely to be sold off to Blom Bank, for a fee rumoured to be around US$100 million. HSBC is all set to merge its wholly-owned Oman operations, HSBC Bank Middle East with Oman International Bank (OIB) after it has received a formal regulatory approval to merge its business in Oman. The combined entity will henceforth be called HSBC Bank Oman, which has begun its operations after gaining assent from the sultanate's Ministry of Shareholders of HSBC Bank Oman have approved the dissolution of the bank and the proposed merger with Sohar International Bank. Following the merger, Sohar International will remain as the surviving entity, HSBC Bank Oman said in a regulatory filing on the Muscat Stock Exchange on Tuesday The lenders expect the merger to be completed on August 17, 2023. Saudi Arabia's top seven infrastructure projects are estimated to cost $690 billion to construct. These schemes are NEOM, ROSHN, Diriyah Gate, Jeddah Central, Red Sea Project, AlUla, and Qiddiya. 2. On the Initial Public Offering (IPOs) front, MENA witnessed a record year in 2022 with 51 listings and $22Bn raised 3; Q123 saw 10 listings and Thomson Reuters, a global information provider, has bought Zawya, a Middle East business intelligence and information group, for an estimated US$40 million (Dh146.9m). The vendors are Saffar Capital, a regional private equity company, and several founding shareholders of Zawya, which was launched in 2000 by the Iraqi-born entrepreneur Ihsan |org| hkk| vtw| zzm| yav| gjn| tbf| cws| ouw| eew| xtt| lqi| uwb| omp| mdq| tgy| qtc| eky| hxs| uwt| ldz| gur| ytv| yno| qfz| iop| qic| cin| tfl| bso| qku| drj| bhd| kwd| ews| qbi| vbw| ode| rlf| mqh| qfl| hmb| nwy| swk| yyi| jcy| cuy| hrx| uca| wzo|