HSBC Financial News

To clarify from the start: if you work for HSBC in London or Hong Kong and you want the bank to pay for your nanny, it is not going to happen. Only some HSBC people get the nanny, and they are in India. But as perks make a comeback, it is something to aspire to.

Net financial savings of households fell to a nearly five-decade low of 5.1% of GDP in FY23, down from 7.2% in FY22, Reserve Bank of India (RBI) said on Monday. The numbers suggest a severe income crunch and likely transience of the post-pandemic rise in consumption.

NEW DELHI : Port operator JSW Infrastructure Ltd on Monday announced plans for a ₹2,800 crore initial public offering (IPO), the first from the JSW Group in 13 years. The IPO will open on 25 September at a price band of ₹113-119 per share, and will be entirely of new shares. “Big event for the group, it has been very, very categoric, you know, unless you create a business of a certain level and you have an appetite to grow when you see a growth in the sector, then we take public money, and the demand has been very good per se.

Boerse Stuttgart Digital, the crypto-focused division of the Stuttgart Stock Exchange, has revealed plans to launch a fully insured cryptocurrency staking service.

BEIJING (Reuters) — China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery.

₹113 -119 per share for its initial public offering (IPO) which will open for bidding on 25-27 September, the company said on Monday. The Sajjan Jindal-led port business is looking to raise ₹2,800 crore through the IPO and will offer a fresh issue of shares as there will be no dilution of the promoter’s existing equity. According to an advertisement, Sajjan-Jindal and family trust hold the majority stake as the promoters.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue of shares worth Rs 2,800 crore. The company had filed the draft prospectus with Sebi in May this year. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The company's business operations expanded from one port concession at Mormugao Port Trust in Goa (acquired by JSW in 2002 and commenced operations in 2004) to nine port concessions across the eastern and western coast of India, making it a well-diversified maritime ports company. The nine port concessions have an installed cargo handling capacity of 158.43 MTPA as of June 2023.

HSBC pays for bankers’ nannies in India for up to six years. Morgan Stanley allows pregnant staff to expense cab rides, and Citigroup Inc. lets new moms work from home for a year after their maternity leave runs out. Across India, global financial firms are expanding maternity benefits to include perks rarely seen elsewhere, part of an effort to attract and retain female employees. Overall, less than a quarter of adult women in India work, among the lowest rates in the world. “We will never become a developed country without women’s participation,” said Aditya Mittal, chief human resources officer of Citi India & South Asia. The bank last week announced that new moms will now have the option to work from home for up to a year after their paid leave ends.

'The company continues to be able to access debt financing at attractive margins, however, given the current macroeconomic environment the board considers it prudent to maintain a lower LTV.'

Tata Motors, Tata Consultancy Services (TCS), Titagarh Rail Systems and CG Power and Industrial Solutions, which might move their stocks on Friday. After the launch of new Tata Nexon EV Facelift, Nomura reiterated a buy on Tata Motors, while HSBC took a buy view on Titagarh Rail as railway stocks see top action. As for TCS and CG Power, buy rating was recommended by DAM Capital and Spark.We have collated a list of recommendations from top brokerage firms from ETNow:Nomura on Tata Motors: Buy | Target: Rs 786 Nomra has maintained a 'Buy' view on the counter while placing the target at Rs 786.

BEIJING — China's National Bureau of Statistics was set Friday to release economic data for August, a day after a surprise rate cut to aid its faltering economy.

startups after exhausting 80% of the $250 million earmarked last year, a senior executive said, underscoring the lender’s focus on the sector facing funding challenges. Ajay Sharma, head of commercial banking at HSBC India, said the lender banks 45% of Indian unicorns, and is willing to meet some working capital requirements of startups, while pushing them to maintain high corporate governance standards. Instances of delayed financial reporting and alleged fraudulent practices by some large startups have put the spotlight on governance issues at some entities that have raised billions of dollars from investors.

manufacturing and agriculture, along with policy reforms, could be a significant driver of growth and job creation over the medium term, an HSBC Global Research report said on Thursday. «India needs to create a whopping 70 million new jobs in the next decade.

JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, will open for subscription on September 25. The issue closes on September 27. The IPO, which is the first from JSW Group in nearly 13 years, is completely a fresh issue worth Rs 2,800 crore.

₹2,800 crore IPO by the end of this month. As per reports, the JSW Infrastructure IPO will open on September 25 and close on September 27. Also Read: JSW Infra gets Sebi nod for its ₹2,800 crore IPO The ports business of the $23 billion JSW Group had filed draft papers for its IPO in May, aimed at retiring debt and fund its capacity expansion plans.

The move to expand the programme follows an earlier pilot in 2022 conducted by EY and a subsequent 'Discovery Phase' held in consultation with market participants, including Barclays, Lloyds, HSBC, Santander and Visa. It follows a recent PoC run by the Federal Reserve with a clutch of top banks that demonstrated the feasibility of an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger. While the UK Discovery Phase explored the delivery of a RLN for wholesale paymnts, the PoC will track the retail consumer market. This would test the use case for a RLN that would provide commercial bank money with the equivalent programmability of a future digital pound, in this way ensuring competitive consistency in the event of a full scale CBDC roll out. The importance of this was emphasised in a speech given in July by Bank of England governor Andrew Bailey, who stated: "We want to encourage more thinking and action in the world of enhanced digital bank deposits - sometimes call tokenised deposits.

Samhi Hotels IPO: Samhi Hotels has raised ₹616.50 crore from anchor investors a day ahead of its IPO subscription opening for bidding. The initial public offering (IPO) will open for subscription on Thursday, September 14 and close on Monday, September 18. The Goldman Sachs-backed company has fixed the price band at ₹119 to ₹126 per share.

JSW Infrastructure, the ports division of JSW Group, is likely to commence public subscription by the end of this month, according to bankers. The company has filed its red herring prospectus with the Registrar of Companies. JSW Infrastructure's forthcoming public offering marks a significant milestone as the first public listing from the JSW Group in nearly 13 years.

Also Read: Barclays names new CEO, COO amid top management reshuffle in India The recent job cut has come at a time when the company is also planning to cull about 5% of client-facing staff in the trading division as well some dealmakers globally. Also Read: Gautam Adani’s go-to bankers at Barclays turn cautious after Hindenburg “We continue to review and adapt our operations based on the ways customers are choosing to interact with us," a Barclays spokesperson said. “These changes will enable greater collaboration across our teams, allowing us to continue to improve service for customers and clients." Last week, the bank was in discussion with Unite about its plans to streamline UK operations.

₹20,000, catering to a wide range of needs, from gaming to vlogging. The realme 10 Pro 5G is currently available on Amazon at ₹19,060. Customers can avail a five per cent instant discount up to ₹250 on HSBC credit Card transactions.

Havells India Ltd, Polycab India Ltd, KEI Industries Ltd, Finolex Cables Ltd, V-Guard Industries Ltd, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Ltd. On an FY23 basis, Havells India Ltd, Polycab India Ltd, KEI Industries Ltd, Finolex Cables Ltd, V-Guard Industries Ltd, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Ltd are available at a PE of 79.49, 62.57, 49.72, 34.52, 72.37, 41.81 , and 62.50, respectively. "We are the fastest growing consumer electrical company among our peers in India, growing at a compound annual growth rate (CAGR) of 43.4% between Fiscal 2021 and Fiscal 2023," said the company in its RHP.