Hsbc

78% of wealthy Indian parents send kids abroad, risking retirement savings

Only 53 per cent of wealthy parents have education savings for their kids abroad; 40 per cent expect student loans, 51 per cent hope for scholarships, and 27 per cent are willing to sell assets

IT revenue per head rises 6% in June quarter of FY25, says report

Revenue per employee or RPH is an important parameter in the industry as it is considered to be a proxy for pricing trends

HSBC Mutual Fund unveils new export-themed equity scheme: Check details

HSBC India Export Opportunities Fund has the flexibility to invest in companies that are part of the exports theme across market capitalization - large cap, mid cap and small cap companies

India's services sector growth surges to 5-month high in August: PMI

India August service PMI: The PMI climbed to 60.9 in August, fuelled by by increase in new domestic orders

HSBC wealth chief Matos leaves as new CEO Elhedery shakes up team

HSBC aims to double the assets under management in its British wealth business to 100 billion pounds

Yen carry trade, US recession threat: How brokerages interpret developments

India, analysts said, remains in a relatively better position amid strong fundamentals. Though valuations remain a concern, investors can use markets correction to buy quality stocks for the long-term

India's services growth remains robust even as it slows a tad in July: PMI

While there was a slowdown in growth, business activity has remained above the neutral mark of 50.0

Softer increase in new orders, output slows down manufacturing PMI in July

However, international sales expanded at the fastest pace in over 13 years, while job creation remained robust, and selling prices saw the steepest increase since October 2013

Budget 2024 is an economists' Budget, says Citigroup MD Samiran Chakraborty

Focus of Budget 2024 is not restricted to railways, defence and infra, but expands to manufacturing and employment to aid human capital growth, said Citigroup MD at 'Budget with BS: The Fine Print'

HSBC appoints Georges Elhedery as group chief executive, replaces Quinn

Since 2020, Elhedery had been the co-head of the Global Banking and Markets business

Five biggest challenges Quinn leaves for HSBC's new CEO Georges Elhedery

HSBC's net interest income, which accounts for half its revenues, rose $5.4 billion in 2023 to nearly $36 billion. But it is expected to fall back to $33 billion this year

India's inflation also K-shaped; villagers more hurt by price-rise: HSBC

Just like the post-pandemic recovery, the Indian inflation story is also 'K-shaped' and is hurting certain sections more than others, a foreign brokerage said on Tuesday. Rural consumers are more impacted by price-rise than their urban counterparts, economists at HSBC said, adding it outstripped the urban segment by 1.1 percentage point in May, mainly due to higher food inflation. "The same developments, driving a K-shaped recovery, seem to be driving K-shaped inflation dynamics," they said in a report. The report by its chief economist Pranjul Bhandari cited the ongoing heat waves, pointing out that higher food and lower core inflation are coexisting because of crop damage and livestock mortality pushing up the former. The government lent a helping hand by cutting several fuel prices but many of the fuels like petrol, diesel and LPG are not commonly used in rural areas, like they are in urban centres, leading to rural inflation being much higher than urban, it said. The report no

JP Morgan India bond index inclusion impact: Weight cut likely for 3 EMs

To accommodate India's 10 per cent weight in the GBI EM index, HSBC said in a recent note, a reweighting will occur for other EM peers in the index, which will see a reduction in their weights.

Major inflows via JP Morgan bond index inclusion yet to materialise: HSBC

Indian government securities have seen inflows of $10.4 billion since the index inclusion announcement in September 2023

HSBC launches trading platform in UAE with access to 77 global exchanges

World Trader's extensive network covering up to 77 exchanges across 25 markets directly addresses the growing customer demand for international investments

ABN Amro nears deal to buy HSBC's German private bank: Report

The takeover of the business, formerly known as Trinkaus & Burkhardt, could be announced over the next two to three weeks, the paper said

Lifetime free credit card is for a select few: How to get one for yourself

Such cards do not charge annual or renewal fees for the entire duration of their validity

HSBC adds more than 300 to China's headcount after Citi wealth acquisition

The portfolio acquisition demonstrates HSBC's commitment to the Chinese market

'Byju's now worth zero': HSBC warns Prosus amid legal, financial troubles

Worsening legal challenges and severe cash crunch attributed as reasons by HSBC for Prosus' $500 million investment going to zero value in Byju's

RBI imposes Rs 36.38 lakh penalty on HSBC for violating Fema regulations

The Reserve Bank on Wednesday imposed a fine of Rs 36.38 lakh on foreign lender HSBC for Foreign Exchange Management Act (FEMA) violations. The central bank said reporting requirements under the Liberalised Remittance Scheme of FEMA, 1999 were not followed by HSBC. The RBI had issued a show cause notice to HSBC, in response to which the bank submitted a written reply and also made oral submissions. "After considering the facts of the case and the bank's reply in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of penalty," it said.