Research from HSBC shows that the largest cities across the Middle East, North Africa and Turkey (MENAT) will need to prioritise sustainable innovation, empower human capital, and support new flows of trade if they are to thrive post-COVID-19. The reports also detail how the pandemic has put a fresh focus on the importance of human health and balanced lifestyles. For Middle East cities that have strengthened ties during the pandemic, there are increasing opportunities for complementary development and specialisation across multiple sectors that will serve the wider region. In Saudi Arabia, HSBC is a 29.2% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. In the year ending 31st December 2019, HSBC in the MENAT region made adjusted profit before tax of US$ 1,611m.

Source: The North Africa Journal November 01, 2020 04:18 UTC