HSBC Holdings Plc

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HSBC lowers year-end target for India's Sensex stock index

www.marketwatch.com | 13 hours 52 minutes ago

NEW YORK (MarketWatch) -- HSBC lowered Tuesday its 2008 year-end target for India's benchmark Sensex stock index to 14,000 from 17,500 previously, saying that political uncertainty and rising inflation are strong downside risks. HSBC also cut its year-end target for 2009 to 15,000 from 21,000. The

http://www.marketwatch.com/news/story/hsbc-lowers-year-end-target-indias/story.aspx?guid=%7B20C766FD%2D5B95%2D4A8C%2D8DB5%2D91676C2EAC6F%7D&siteid=rss

HSBC clerk jailed for 9 years in Britain for €90 million fraud

www.iht.com | Jul 7, 2008

Channa had sent €60 million (US$94 million) to an account in Morocco and €30 million (US$47 million) to an account in Britain in April. The fraud was detected by an HSBC employee in Malaysia.

http://www.iht.com/articles/ap/2008/07/07/business/EU-Britain-Bank-Fraud.php

Former HSBC clerk jailed for 9 years for 72m fraud

business.timesonline.co.uk | Jul 7, 2008

A former HSBC clerk was jailed for nine years today for attempting to steal £72 million in one of the biggest frauds of its kind.

http://business.timesonline.co.uk/tol/business/law/article4287239.ece

Greenwash Watch: HSBC Headquarters

www.treehugger.com | Jul 7, 2008

The new HSBC headquarters is over half a million square feet of green goodness, with rainwater collection, drought resistant landscaping, renewable energy, paper-free cafeteria all topped off with a green roof and going for LEED Gold certification. What could

http://www.treehugger.com/files/2008/07/greenwash-watch-hsbc-building.php

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New Scientist Environment Blog

www.newscientist.com

Their aim is to help improve forest-management policies given the predicted impacts of climate change - such as more drought in some areas, more floods in others. They will intensively monitor the woodlands along the Thames east of Oxford, UK.

http://www.newscientist.com/blog/environment/labels/hsbc.html

HSBC South Africa

The HSBC Group is one of the largest banking and financial services organisations in the world. After obtaining a South African banking licence in 2004, we restructured our operations in sub-Saharan Africa in 2005 to focus on our Corporate, Investment Banking and Markets (CIBM) clients.

http://www.hsbcequator.com/

DJ HSBC Launches Global Agriculture Index, Focus On Companies - Zibb.com

www.zibb.com

HSBC Global Banking and Markets on Wednesday launched an Optimized Global Agriculture Index, offering exposure to companies related to the cultivation of crops and plants. The index focuses on companies which increase crop production through improved yields and crop protection through agriculture

http://www.zibb.com/article/3530451/DJ+HSBC+Launches+Global+Agriculture+Index+Focus+On+Companies

Chemicals & The Economy: Search Results

www.icis.com

If you read the financial pages of your newspaper, everything sounds rosy. But if you turn to the news section, its all gloom. Both views can’t continue to exist alongside each other for ever. Whichever scenario comes out on top,...

http://www.icis.com/cgi-bin/mt/mt-search.cgi?tag=HSBC&blog_id=88

 

KOREA EXCHANGE BANK CALLS FOR QUICK SOLUTION TO SALE DISPUTE - Zibb.com

Korea Exchange Bank (KEB), South Korea's fifth-largest lender, called Tuesday for "prompt resolution" of the legal dispute hampering regulatory approval of Lone Star Funds' sale of KEB.

In September last year, the U.S. buyout fund agreed to sell a 51.02 per cent stake in the lender to HSBC Holdings Plc. South Korea's financial regulator has yet to give the deal the thumbs-up, pending a court battle over Lone Star's takeover of KEB in 2003.

"The protracted disputes over the major shareholder of the bank have exerted significant effects on the reputation and the brand value of KEB," the bank said in a statement.

The statement signed by about 680 KEB workers, including executive officers, came as the financial watchdog said it will continue to delay giving its approval for a US$6.3 billion takeover of KEB by HSBC until all legal uncertainty clears up.

In late June, a Seoul appeals court cleared Lone Star of stock price manipulation in connection with its takeover of KEB's credit card unit in 2003. Market watchers said a delay of regulatory approval may lead HSBC to walk away from the deal. HSBC has agreed to extend a deadline to buy KEB by three months until the end of July.

(Yonhap)

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Tags: buyout   credit card   executive   market   south korea   takeover  

Companies: HSBC Holdings plc (HBC), Korea Exchange Bank (KOOQF)

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Project Blue (Guernsey) Limited USD 2,365,000,000 Syndicated Ijara Financing Facility - Zibb.com

Project Blue (Guernsey) Limited USD 2,365,000,000 Syndicated Ijara Financing Facility Qatari Diar Real Estate Investment Company ("Qatari Diar") is pleased to announce the successful closing on 30 June 2008 of its USD 2,365,000,000 Syndicated Ijara Financing Facility in the name of its subsidiary Project Blue (Guernsey) Limited. The facility, which has a three-year maturity with the option of a further one-year extension, was arranged and fully underwritten by Masraf Al Rayan, Qatar National Bank SAQ ("QNB"), BNP Paribas, Calyon Credit Agricole CIB ("Calyon") and HSBC Amanah ("HSBC"). BNP Paribas, Calyon, HSBC and QNB acted as Bookrunner whilst Masraf Al Rayan acted as Structuring Advisor for the transaction.

The Facility, which carries a margin of LIBOR plus 1.05% per annum, will be used for the financing, in association with CPC Group, of the purchase of the site known as "Chelsea Barracks" in London from the United Kingdom's Ministry of Defence and certain associated costs.

Joining the facility with Masraf Al Rayan, QNB, BNP Paribas, Calyon and HSBC were the following: Senior Mandated Lead ArrangerCommercial Bank of QatarMandated Lead ArrangerNational Bank of Abu DhabiRoyal Bank of ScotlandArrangerSMBCCo-ArrangerDeutsche BankGulf International BankMashreqbankSenior Lead ManagerBoubyan BankQatar Islamic International BankArab African Int BankBanque BiaAhli Bank QSCQatari Diar was established in December 2004 to act as the Real Estate Investment arm of Qatari Investment Authority (QIA). Fully owned by Qatar Investment Authority which, in turn, is 100% owned by the state of Qatar, Qatari Diar engages in high profile real estate activities through acquiring properties in prime locations within the region and beyond with a particular emphasis on Europe to build top quality residential and commercial buildings. Qatari Diar is viewed as the region's most influential and innovative real estate investment company.

Qatari Diar is a leading real estate company in Qatar with projects such as Lusail and the Doha Convention Centre as well as regionally with projects in Morocco, Oman, Egypt and Syria and beyond with projects in the Seychelles and the United Kingdom.(C) 2008 Al Bawaba (www.albawaba.com)

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Tags: advisor   bank   commercial   egypt   europe   investment   london   morocco   oman   qatar   real estate   syria  

Companies: BNP Paribas (BNPZY)

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HSBC appointed fund administrator for ICICI Pru AMC - Zibb.com

In a unique deal, leading mutual fund company ICICI Prudential Asset Management Company has outsourced its fund administration for over 100 schemes to HSBC Securities Services.

With assets under management of Rs 54,321.87 crore as of March 31, this is the largest and most complex third party outsourcing project ever undertaken in the Indian funds industry, a release here stated.

This mandate is inline with the growing trend towards outsourcing back office processing by mutual funds to specialised providers like HSBC, it added.

"The Indian market has a unique and complex set of requirements in fund accounting. The successful implementation of this initiative demonstrates our ability to invest in customisation of global solutions for the Indian market," HSBC Asia Pacific Head of Institutional Fund Services, Jayant Rikhe said.

HSBC Institutional Fund Services, which is a part of HSBC Securities Services, has operations in 27 countries and territories in North and South America, Europe, the Middle East, Africa and Asia Pacific.

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Tags: accounting   africa   asia   europe   market   mutual funds   securities   south america  

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HSBC unit Hong Kong & Shanghai Banking Corp ratings affirmed - Fitch - Zibb.com

Fitch Ratings said it has affirmed HSBC unit Hong Kong and Shanghai Banking Corp's ratings, with a stable outlook on the ratings.

It affirmed the banks' long-term foreign currency issuer default rating (IDR) at "AA", short-term foreign currency IDR at "F1+", individual rating at "A/B", support rating at "1" and support rating floor at "A-" .

Fitch said the ratings on the HSBC unit reflect its solid core operations, excellent profitability, strong balance sheet and track record of sound management.

The unit recorded a 4.6 bln hkd one-off tax-exempt gain on its investments in Bank of Communications and Industrial Bank Co following their listings in Shanghai in the first half of last year, Ftich noted.

Excluding the one-off gains, the HSBC unit maintained its consistently strong core profitability in 2007, as operating return on average assets (ROAA) increased to 1.93 pct from 1.61 pct in 2006, it said.

It attributed the improvement in ROAA to higher fee income from stockbroking and wealth management, higher trading income and improved operating efficiency.

Hong Kong remains its largest profit source, but given the territory's relative maturity, the share of profit from the rest of Asia will increase over time, particularly from China and India, Fitch said.

Its substantial share of the Hong Kong banking market provides it with a stable and low-cost funding base, it noted.

jun.concepcion@xfn.com

MMMM

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Tags: asia   bank   banking   china   communications   hong kong   india   industrial   market   profit   shanghai   tax   track  

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