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HSBC is ‌selling its A$36bn ($25.30bn) Australian home and personal loan book to global ‌asset manager Blackstone ⁠in the world's largest-ever ‌home loan portfolio transaction.The deal, announced ‌by the two companies on Friday, is the latest move in HSBC CEO Georges ⁠Elhedery's overhaul of the bank. Elhedery has cut management ranks, reduced costs and shed non-core operations since assuming the top job in September 2024.The sale of the Australian portfolio is to close in the first half of 2027, subject to regulatory approvals. Blackstone said the deal was the largest-ever sale of a home loan portfolio.It said the portfolio would be held across the Blackstone Credit and Insurance, Tactical Opportunities ​and Real Estate Debt Strategies funds.HSBC is only a minor player in Australia's A$2.5tn mortgage market, which is dominated by the country's "Big ‌Four" banks. It does not operate ⁠a major retail ​branch network.Blackstone said the loan portfolio would be managed by Pepper Money, ​a non-bank lender that operates in Australia. Pepper shares rose as much as 6% on Friday, but the stock is down nearly 20% this year.HSBC said it expected the sale would result in a loss of less than $100mn by the first half of 2027, and that it would incur ‌about $300mn in restructuring costs linked ‌to the retail wind-down.It also expects ⁠to recognise about $300mn in foreign currency translation losses, with no impact on its ⁠CET1 ratio.Since the global financial crisis, HSBC has been scaling back its worldwide footprint, exiting low-returning consumer banking activities in markets ranging from France and Greece to Canada.The bank last week agreed to sell its Singapore insurance unit to Germany's Allianz SE, and struck a deal in May to divest its retail and wealth operations in Indonesia to Singapore's Oversea-Chinese Banking ​Corp.HSBC said it would continue investing in its corporate and institutional banking business across Australia and New Zealand, moving away from consumer lending as part of the restructuring.Blackstone said separately it plans to continue deploying significant capital to tap Australia's housing market.The transaction comes as Australia's housing market faces softer demand, with higher borrowing costs and tax changes weighing on investor activity.Australian lender Westpac said in June mortgage applications had declined 10% since the government's May budget, while National Australia Bank on Thursday posted a 15% drop ‌in applications in ​the June quarter.

QNB Group announced the “successful” completion of Qatar’s inaugural Digitally Native bond issuance, a $500mn three-year floating interest rate digital bond.Using HSBC Orion, the market-leading digital assets platform, the issuance marks the acceleration of digital asset adoption in the Middle East.This “landmark” transaction represents the largest ever Digitally Native bond issuance issued from the Middle East and Africa region by a financial institution.This step comes as part of QNB’s strategy to tap new sources of stable funding from new markets with digitally innovative funding sources.The successful completion of the transaction confirms the trust of international investors in QNB the Group’s strategy, robust financial performance, and stable outlook.HSBC acted as a sole bookrunner on the transaction, a further step in its ambition to bring end-to-end blockchain-based solutions to its global client base.The bond is powered by HSBC Orion, which is operated by the Central Money markets Unit (CMU) in Hong Kong, and structured with support from leading international law firms, reflecting the high standard of governance.HSBC Orion is the number 1 platform globally for digital bond volume in 2025 to date and the only to have successfully supported digital bonds for issuers in the region, in addition to the world’s largest digital bond issued in Hong Kong earlier this month.This strategic collaboration, bringing HSBC’s global experience with QNB’s local expertise, lays the groundwork for digital assets to become a regular feature of Qatar’s financial landscape, in line with Qatar National Vision 2030. It also showcases the potential of distributed ledger technology to enhance liquidity in the bond market.The bonds were issued under QNB’s EMTN programme and will be listed on the Stock Exchange of Hong Kong Limited, which will also handle the permission to deal in DN Notes by way of debt issues to professional investors.Global investors can access the digital bond through accounts held with CMU, Euroclear and Clearstream, onboarding onto HSBC Orion as direct participant, or via their existing custodian who can participate through one of the above options.Noor al-Naimi, Senior Executive Vice-President, QNB Group Treasury and Financial Institutions, said: “This inaugural Digitally Native bond issuance transaction is part of our funding diversification strategy and broadens the range of funding sources available to QNB. QNB Group will continue to play a pioneering role in adoption of transformative technologies.”Abdul Hakeem Mostafawi, Chief Executive Officer, HSBC in Qatar, said: “QNB’s role as the first-mover lays the groundwork for digital assets to become a regular feature of Qatar’s financial landscape and the wider region.“This transaction signifies the momentum behind digital assets and the pivotal role that HSBC is playing both within the region and globally to enable the transformation of capital markets that are smarter, more transparent and more connected.”

China’s dominance in clean energy has put the country on a singularly strong footing when it comes to competing with the rest of the world — particularly the US — in building artificial intelligence.That’s according to Julian Wentzel, chief sustainability officer at HSBC Holdings, who says an economy built on renewable energy brings with it advantages that can’t be replicated by fossil fuels.“China has put themselves in a very unique position in terms of the energy requirement to fuel their economy and ultimately their AI architecture,” Wentzel said in an interview.The vast build-out of clean energy in China — the country is on track to once again break its own record in installing renewable power this year — “enhances their cost of capital,” he said.Once renewable energy infrastructure is built and the upfront investment has been paid off, producing extra energy carries effectively no incremental cost; fossil fuels, in contrast, require ongoing costs for extraction, transport, refining and distribution, he said.“Once you’ve got the architecture in place, as the demand grows, you can deliver that demand at zero cost,” Wentzel said. As the “percentage cost of every incremental kilojoule of power relative to total GDP declines over time,” it becomes “a very powerful lever to the underlying growth of an economy.”The comments stand in contrast to the policy position of the government in the US, where Energy Secretary Chris Wright has argued that a rapid transition to clean energy will raise energy costs and hurt economic growth. And for now, fossil fuels continue to provide a major share of the energy powering AI data centres.Microsoft Corp Chief Executive Officer Satya Nadella said recently the supply of power, rather than the availability of semiconductors, accounted for the biggest bottleneck in data centre capacity. And by some estimates, the energy needs of existing and planned AI infrastructure in the US can’t be met with current supply.That dynamic has created an opportunity for oil majors to cash in on the enormous demand for energy that will be needed to power data centres. Chevron Corp said on Wednesday it will provide natural gas-fired power to a data centre in West Texas, the beginning of a new line of business for the company to capitalise on the AI boom.The global race to dominate AI depends on an array of factors that includes chips and supply chains as well as rare earths and key metals such as copper. But energy supply is key, and because renewables are low-cost to run once infrastructure is built, countries that have greater access to them have an advantage, Wentzel said.China is challenging developments in the West not just due to its dominance in cheap renewable energy, but also due to its approach to building artificial intelligence. That became apparent earlier this year, when startup DeepSeek indicated the country is capable of producing AI at a much lower cost and greater energy efficiency than US rivals.China’s growing dominance is also shaping talks at the COP30 summit in Belem, Brazil, where California Governor Gavin Newsom took several opportunities to warn that the US risks losing out on numerous fronts.One of the great abdications of the climate fight is “the own goal of the president of the US who simply doesn’t understand how enthusiastic President Xi is that the Trump administration is nowhere at COP30,” Newsom said.The US and legacy automakers “better wake up to that,” Newsom said at a press conference. “This is about economic power.”China manufactures about 80% of the world’s solar panels, supplies some 60% of the planet’s wind turbines, 70% of its electric vehicles and 75% of batteries, all at a lower financial cost than the West.To be sure, though China is adding unprecedented amounts of wind and solar, it’s still investing heavily in fossil fuels. That includes coal, which is one of the reasons the country produces almost 30% of global emissions.Wentzel said economies that rely more on clean energy are also more likely to reduce volatility in inflation.“Removing dependence on fuel commodities reduces capital account fluctuations, exposure to inflation and price swings,” he said. “As renewable systems scale, energy costs as a share of GDP can fall, strengthening the financial efficiency of the system and supporting higher economic growth.”

The 2025 HSBC Global Economist Roadshow, brought together almost 100 clients, partners, and senior executives to discuss global economic trends and Qatar’s strengthening role as a driver of growth and innovation across the Gulf.Opening the event, Arhab Ghandour, HSBC Qatar Chief Risk & Compliance Officer, said: “Built on strong fundamentals and a clear national vision, Qatar’s economy continues to navigate change with purpose.“Our commitment to Qatar’s future is long-term and strategic, and our relocation to Msheireb underscores our belief in innovation, sustainability, and progress. Together with our partners and clients, we are helping shape what comes next.”Rising gas production and strategic reform choices are set to make Qatar GCC’s fastest-growing economy in 2026, HSBC noted.Held amid a complex global environment marked by geopolitical shifts, evolving trade corridors, and technological disruption, this year Roadshow provided insights into the opportunities and challenges shaping the world economy and their implications for Qatar and the wider region.Sharing insights on global and regional trends, Janet Henry, HSBC Global Chief Economist, said: “The Fed should be able to cut rates by another 50bps as the softening labour market tips the balance back to easing, but with sticky inflation and a relatively resilient economy supported by fiscal stimulus, the markets seem to be pricing in too many rate cuts in 2026.”Paul Mackel, HSBC Global Head of FX Research, added that “the US dollar has had a volatile year so far, initially riding on a wave of optimism before suffering one of its largest defeats. The outlook still points to a soft USD in the months ahead.”Meanwhile, Simon Williams, HSBC Chief Economist for CEEMEA, commented: “Rising gas production will see already high levels of wealth rise further in the coming two years, and should position Qatar as the fastest-growing economy in the Gulf next year. Momentum in the non-gas sector will depend on the strategic choices policymakers take to give Qatar an edge in what has become a highly competitive region.”The event reaffirmed HSBC’s role as a trusted partner supporting Qatar’s long-term vision for sustainable growth, diversification, and innovation as we as its role in helping clients navigate change and capture opportunity.

HSBC Qatar recently hosted its Corporate & Institutional Banking (CIB) Client Networking Event in Doha, under the theme ‘Digital Solutions – Driving Efficiency & Resilience’.The event brought together senior executives and industry leaders representing more than 70 clients to explore how digital solutions across payments, cash management, trade and markets are helping businesses drive efficiency, build resilience and capture growth opportunities in an ever-changing marketplace.The initiative underscores HSBC Qatar’s efforts to accelerate digital transformation in line with Qatar National Vision 2030, which places innovation and economic diversification at its core, reinforcing Qatar’s role as a hub for digital excellence in the region.The discussion highlighted the role of digital tools in optimising and streamlining operations, reducing risk and strengthening resilience. HSBC’s award-winning solutions were showcased, including Corporate Treasury APIs, HSBC TradePay, and the FX Evolve Platform, which offers clients 24/5 access to seamless transactions across 23 currency pairs.Nicholas Young, country head of Global Payments Solutions, HSBC Qatar, said: “HSBC remains dedicated to supporting our Corporate & Institutional Banking clients with value-added digital solutions that enable them to thrive in a fast-changing global economy. By leveraging digital innovation, our clients can use real-time data to make faster decisions and seize opportunities.”Mohit Joshi, country head of Corporate Banking, HSBC Qatar, added: “HSBC Qatar has a proud legacy of ‘firsts’ in the digital space, from installing Qatar’s first ATM in 1986 to pioneering electronic banking for corporates in 1987. Today, we remain committed to pushing the boundaries of digital innovation to deliver solutions that create long-term value for our clients, support their resilience and competitiveness.”The event also featured a panel discussion featuring Aldrin Barretto, senior financial controller of Al-Futtaim Domasco, who shared insights on how HSBC’s digital trade solutions have improved supply chain resilience, and Qaisar Choudhary, COO of Carnegie Mellon University in Qatar, who talked about how digital payment solutions have had a transformative impact on their relationships with students, suppliers and partners globally.

Four talented Qatari graduates from HSBC Qatar have completed the HSBC Global Graduate Programme in London this August.The intensive programme brought together top emerging talents from 15 different countries across HSBC’s global network to equip them with the skills, knowledge and international exposure required to thrive in today’s competitive financial and corporate landscape.The programme also deepened their understanding of HSBC’s ambition, strategy, and values — while building connections that span the globe. The Qatari Graduate Cohort included Hissa al-Thani, Mahdi al-Majed, Nayef al-Mahsin, and Lolwa al-Dosari.HSBC Qatar CEO Abdul Hakeem Mostafawi said, “In collaboration and with the support of the Qatar Central Bank and the Ministry of Labour, we are committed to developing Qatari talents into tomorrow’s leaders. We are proud to see a new wave of Qatari talents completing the Global Graduate Programme and returning from London with new skills, global experience, and a stronger foundation to contribute to Qatar’s financial sector and future leadership.”Mohammed al-Sultan, country head of Human Resources at HSBC Qatar, added: “Empowering Qatari youth through international exposure and practical learning opportunities is at the heart of our talent strategy. By equipping our graduates with global perspectives and critical skills, we are preparing them to succeed and thrive in today’s fast-changing financial world.”The milestone highlights HSBC Qatar’s ongoing commitment to Qatarisation and the development of future Qatari banking leaders. The graduates will now apply their international experience and knowledge locally, serving as ambassadors of Qatar’s emerging talent and its potential on the global stage.