When HSBC thought it was fashionable to look for profits in the Middle East, many people thought economic woes in the US and UK could not touch Arab nations. In fact, newspaper report orginally stated that the Middle East did not suffer from the world economic crisis. That is not true.
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Should China have a global currency? What is HSBC’s stake? China is beginning an ambitious scheme to raise the role of the renminbi in international trade and finance and to reduce reliance on the US dollar,” said Qu Hongbin, China chief economist at HSBC.
Category: Emerging Markets
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HSBC has decided to stop its retail lending in Hungary and end its activities in the country within three years, laying off 282 staff, Index.hu reported on Tuesday.
Category: Emerging Markets
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First it was the United States. Now it is Mexico with new credit card laws. In May, Mexico’s Senate approved a proposal to curb hefty credit card interest rates and limit account maintenance fees and other bank charges. The country’s lower house has yet to vote on the legislation.
Category: Emerging Markets
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Mexico seems to have higher standards than the U.S. when it comes to credit cards, saying what everyone lese already knows. U.S. lawmakers once said HSBC credti card terms are onerous, and as close to illegal as possible without being illegal. Mexico puts it a different way:
Category: Emerging Markets
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