Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 696.40
Bid: 693.50
Ask: 693.70
Change: 3.60 (0.52%)
Spread: 0.20 (0.029%)
Open: 693.90
High: 696.40
Low: 691.00
Prev. Close: 692.80
HSBA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Dubai working with HSBC on $7 bln financing for Expo 2020

Tue, 13th Dec 2016 12:20

* HSBC appointed as ECA coordinator - sources

* Split between commercial loans and ECA funding to bedecided

* Extra funding for Expo-linked projects possible

By Davide Barbuscia and Tom Arnold

DUBAI, Dec 13 (Reuters) - Dubai is working with HSBC on the financing of Expo 2020 Dubai, a $7 billionexhibition centre project expected to attract 25 millionvisitors, sources familiar with the matter said.

The site will host Expo Dubai which will run from October2020 to April 2021 and will be the first World Expo hosted inthe Middle East, according to the Expo 2020 website.

The project provides more evidence that Dubai is back inexpansion mode after running into trouble during the 2009 globalfinancial crisis. The expo is a major part of Dubai's plans toexpand its infrastructure and boost its credentials as a touristdestination.

The financing will come from bank loans and from variousexport credit agencies, the sources said. HSBC has beenappointed to coordinate the export credit agencies and financingsupported by them, the sources said, adding that the splitbetween the commercial loans and the export credit financing wasyet to be defined.

Export credit-backed financing provides guarantees thatsupport the export and supply of domestic goods or contractorsor in some cases direct lending.

Expo 2020 Dubai was not immediately available to comment.HSBC declined to comment.

The exhibition centre project, in the Dubai South district,situated midway between Abu Dhabi and Dubai, will be 4kilometres long and 1.8 kilometres wide, according to itswebsite. The development will include a number of infrastructureprojects, an exhibition centre, academic and researchinstitutions and a technology cluster, the website said.

It will possibly also need additional funding on top of the$7 billion for projects linked to the event and led bygovernment entities such as Dubai Municipality, the DubaiElectricity and Water Authority, and Dubai's Roads and TransportAuthority, two of the sources said.

The expo site is located near Dubai's new airport, Al MaktoumInternational Airport. There are proposals for a $3 billionexpansion of the airport and HSBC is also advising thegovernment on the financing for this project.

(Editing by Jane Merriman)

More News
14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

Read more
12 Dec 2023 16:26

US sanctions proposed buyer of HSBC's Russian business

Dec 12 (Reuters) - The U.S. on Tuesday imposed sanctions on Russia's Expobank, the proposed buyer of HSBC's local unit, a move that could complicate the British lender's long-awaited departure from Russia.

Read more
12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

Read more
12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

Read more
11 Dec 2023 11:00

TC Energy's Coastal GasLink seeks C$1.2 billion from pipeline contractor over delays

WINNIPEG, Manitoba, Dec 11 (Reuters) - Coastal GasLink, a Canadian natural gas pipeline partnership operated by TC Energy, is seeking C$1.2 billion ($737 million) from one of its main contractors for construction delays and may be liable for a similar amount if an arbitrator rules against it, court documents showed ahead of a hearing this month.

Read more
5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

Read more
29 Nov 2023 16:55

LONDON MARKET CLOSE: Cooler German CPI boosts DAX but FTSE 100 falls

(Alliance News) - The FTSE 100 closed lower on Wednesday, despite a bullish session for European peers, as the blue-chip index's China-exposed stocks and natural resources sector struggled.

Read more
29 Nov 2023 16:40

London close: Stocks mixed as US GDP growth tops forecasts

(Sharecast News) - London markets closed with a mixed performance on Wednesday, influenced by a combination of UK data releases and robust economic growth in the US.

Read more
29 Nov 2023 12:02

LONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US data

(Alliance News) - European equities were largely higher heading into Wednesday afternoon's US gross domestic product reading, though London's FTSE 100 underperformed as China-exposed shares and international earners declined.

Read more
29 Nov 2023 11:13

IN BRIEF: Pets At Home starts GBP25 million 2nd half of share buyback

Pets At Home Group PLC - Cheshire, England-based pet supplies and veterinary services - Launches GBP25 million second tranche of GBP50 million share buyback. Commissions HSBC Bank PLC, part of HSBC Holdings PLC, to conduct the buyback tranche, which will end by March 28 next year. The overall programme was started in June. The launch of the second tranche follows the release of interim results on Tuesday. Pretax profit declined 35% to GBP34.7 million in the 28 weeks to October 12 from GBP53.4 million a year prior, as a 6.5% revenue increase was offset by higher cost of sales and administrative expenses. Pets at Home had maintained its interim dividend at 4.5 pence per share.

Read more
27 Nov 2023 17:08

LONDON MARKET CLOSE: Downbeat China data hurts exposed FTSE 100 stocks

(Alliance News) - Stock prices in London closed down on Monday, as underwhelming industrial data from China hurt Asia-exposed stocks and oil majors, while new homes figures in the US also disappointed.

Read more
27 Nov 2023 11:58

LONDON MARKET MIDDAY: Downbeat China headlines hurt FTSE 100

(Alliance News) - London's FTSE 100 made an uncertain start to the week, with share price falls for miners, oil majors and China-exposed stocks sending the large-cap benchmark into the red heading into Monday afternoon.

Read more
27 Nov 2023 06:47

UPDATE: HSBC UK says banking services return after Black Friday outage

(Alliance News) - HSBC Holdings PLC said its digital services are returning to normal after UK customers were left struggling to access mobile and online banking on one of the busiest shopping days of the year.

Read more
24 Nov 2023 11:48

HSBC UK investigating as customers struggle to access banking services

(Alliance News) - HSBC UK is investigating "as a matter of urgency" as customers have been struggling to access banking services on Black Friday.

Read more
24 Nov 2023 11:01

HSBC apologises after online banking outage

(Sharecast News) - HSBC issued an apology on Friday morning after a disruption to its mobile and online banking services left many UK customers unable to access their accounts on one of the year's biggest shopping days.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.