Abu Dhabi, UAESunday 29 November 2020

Business Extra: How does HSBC balance its growth ambitions with the need to rein in costs?

In a world of negative interest rates, European banks are having to make layoffs to control expenses

HSBC may cut as many as 10 thousand jobs worldwide as part of its latest cost-cutting drive but where next for the bank that was at one time the poster child of globalisation?

Host Mustafa Alrawi, Assistant Editor in Chief, takes a look at how banks in Europe are looking to make savings. In a world where the US-China trade war, Brexit, a weak European economy, lower interest rates and the resulting uncertainty is affecting growth how is the financial sector coping? Also in this episode Mustafa speaks to Nai Arabia's founders Hisham El-Farouki and Fouad Dajani as Jordan's Fine Hygienic Holding, a paper products manufacturer, becomes the largest single shareholder in the Dubai-based natural food and beverage company. The deal is valued at over $10 million.

In This Episode:

-HSBC (0m 44s)

-Nai Arabia (5m 45s)

-Headlines (17m 49s)

Read more on our website:

HSBC to cull 10,000 jobs as it looks to rein in costs

Venture funding for Middle East start-ups up 30% in first 9 months

UAE first in the Arab region to roll-out 5G and fourth globally

Fine acquires 30% stake in Nai Arabia in wellness shift

Updated: October 28, 2019 06:45 PM