Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Saudi Arabia picks HSBC to spot “investment opportunities”

HSBC currently represents less than 2 percent of the Canadian banking sector, with more than 130 branches and around 780,000 retail customers. (AFP)
  • It covers identification and promotion of sustainable investments in the Kingdom for domestic and international investors
  • “I welcome today’s agreement, which is further proof that the Kingdom’s ambitions to become a global sustainable investment destination is on track"

Saudi Arabia has roped in HSBC to “identify and promote” sustainable investment opportunities. The agreement between the two was signed at the Future Investment Initiative conference in Riyadh where environmental, social, and governance (ESG) is a hot topic among global leaders and businessmen.

It covers identification and promotion of sustainable investments in the Kingdom for domestic and international investors; identification of sustainable investments overseas for leading Saudi companies; and supporting public and private sector entities in climate transition and the broad ESG agenda.

“I welcome today’s agreement, which is further proof that the Kingdom’s ambitions to become a global sustainable investment destination is on track,” Saudi Investment Minister Khalid Al-Falih said in a statement.

He added: “Through the vast network of a global player like HSBC we want to attract global private sector capital into the Kingdom, and realize the ambitions of Vision 2030, as they have been recently underpinned in the National Investment Strategy and the Saudi Green Initiative.”

The deal will see the creation of an “ecosystem of partners in the areas of sustainability and ESG,” the statement read.