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Two more follow Darwish and Safa leaving last month
The US bank is reshuffling several roles in the Middle East
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HSBC’s new strategic plan involves numerous changes to its investment banking division, including shifting resources to Asia and the Middle East, reducing the scale of many operations in the European markets business, and combining product functions with commercial banking. -
The People’s Bank of China trimmed the one year medium-term lending facility (MLF) rate by 10bp from 3.25% to 3.15% on Monday morning. The move will likely lead to lower loan prime rates when they are published later this week, said analysts.
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In this round-up, China could face a downgrade to its sovereign rating, Hong Kong’s finance secretary expects a “tsunami-like” impact on the economy from the Covid-19 outbreak, and the Chinese securities regulator relaxed rules on stock issuance.
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BNP Paribas Asset Management has promoted Jean-Charles Sambor to lead its emerging market fixed income team, taking over from Bryan Carter.
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One of the most prominent debt bankers at HSBC has left the firm, as the reorganisation of senior management under interim CEO Noel Quinn continues.
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In this round-up, the number of novel coronavirus infections increased by 14,840 in a single day after the Hubei province changed its diagnosis methodology, China has put the former mayor of Shanghai in charge of Hubei amid the prolonged outbreak, and regulators have given the green light to MasterCard’s long-awaited entry to the Mainland market.
