The Global Economics

As the pandemic violently sweeps over the world wreaking havoc in businesses and lives alike, Siemens, the largest industrial manufacturing company...

With proclaimed success of containing coronavirus in Vietnam, the nation is back on its feet and planning to transform supply chains to...

UAE based Growmore Group announced this Thursday to enter a deal to acquire Medicinos Bankas UAB, which is one of...

The Saudi Arabia’s central bank which is aiming at a sustainable economic growth during the coronavirus pandemic asserted its commitment to the Riyal-US dollar...

In the wake of the coronavirus pandemic, Abu Dhabi Islamic Bank (ADIB), a leading financial institution becomes the first Islamic...

 In its China life insurance joint venture, HSBS Holdings enters to buy the remaining 50%  stake to fully own the company as China gears up its markets by removing foreign ownership  restrictions on foreign funded insurance companies.   This agreement will help HSBC to expand its mark in China, as part of CEO Noel Quinn’s plan  to boost the company’s business and enhance its investments and capital to Asia. In a  statement, Quinn tells that they are trying to make steps in their growth strategy, despite the  coronavirus pandemic, and that the transaction will help boost the ambition of accelerating  growth in their Asian franchise and further extend their capabilities in wealth.   As part of its broad overhaul announced earlier on February, HSBC, Hong Kong had turned its  focus on growth markets such as mainland China and Hong Kong.   After U.S. and Japan, China’s insurance comes third with an estimated $318bn in premiums,  and with current reforms in ownership restrictions, HSBC joins the list of companies as foreign  fully-owned insurers in mainland China. China opened its asset-management markets for wider  foreign firms and companies on April 1st this year despite the ongoing Covid-19 crisis.