Apple ends in-house buy now, pay later scheme in the US. Customers will now use third-party credit and debit card lenders. Existing borrowers can continue using Apple’s Wallet app. Apple is ending its in-house buy now, pay later scheme in the US, which it launched just last year. The technology giant says it will now … Read more
Property developer Shimao Group (0813. HK) has missed the interest and principal payment of a $1 billion offshore bond. It is the first missed public offshore payment for the Shanghai-based developer. China’s property sector has been hit by a series of defaults on offshore debt obligations. Shimao Group (0813. HK), a Chinese property designer has … Read more
HSBC bank has suspended its head of responsible investing after he criticized climate change warnings during a recent presentation, According to media reports on Monday. Stuart Kirk has been suspended by the London-based bank while HSBC investigates the incident first reported by the Financial Times. Kirk reportedly told a conference held in the British capital … Read more
RIYADH: Saudi online food delivery platform Jahez International Co, announced its initial public offering price on parallel market Nomu at SR850 ($226)/share, the highest end of its indicative range, Arab News quoted the company, as saying, in a bourse filing. This followed the completion of the book-building process by HSBC Saudi Arabia, which included 38.8 times oversubscription … Read more
RIYADH: Saudi Real Estate Refinance Company has completed issuing a SR2 billion ($533 million) Sukuk to support lenders in the kingdom’s housing market, Arab News reported. The 10-year Sukuk was issued at a fixed profit rate of 3.04 per cent marketed to Saudi institutional investors, the deal was oversubscribed 2.5 times, the company said in a statement. … Read more
BRUSSELS: Brussels slapped fines totalling €344 million ($390 million) on Thursday on Barclays, RBS, HSBC and Credit Suisse after finding the banks had engaged in a forex trading cartel. Traders at UBS were also found to have taken part, but the European Commission agreed to reduce the Swiss bank’s fine to zero after it came … Read more
LAHORE: The China Green Finance Committee and the Beijing Institute of Finance and Sustainability arranged a seminar on “Financing climate actions: China initiatives and international cooperation” as a side event of the COP26 Finance Day, both online and in-person in Glasgow, UK, a statement said. State Bank of Pakistan former governor Yasin Anwer and representatives … Read more
HONG KONG: HSBC is emerging from its coronavirus and restructuring troubles to become more reliably profitable, boss Noel Quinn said on Monday, as he announced the start of a $2 billion share buyback. The Asia-reliant lender had a tumultuous 2020, as its fortunes took a hammering from both the coronavirus and simmering geopolitical tensions. Quinn has … Read more
