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Turkey, Kuwait to increase industry relations, its impact will be on European countries



Turkey and Kuwait agreed on 2 October to enhance bilateral relations in the industry and technology sectors. The agreement was reached in a meeting between Turkish Industry and Technology Minister Mustafa Warank and his Kuwaiti counterpart Khalid Nasir al-Roudan in the Turkish capital Ankara. Varun said, “We aim to increase cooperation in economy, industry and technology as well as mutual investment on the 55th anniversary of our relationship.”

Varanka stressed that Turkey adopted a new policy of production and encouraged investment and could share its experience in the field of industry with Kuwait. For his part, al-Raudan cited “the prestigious relationship between Turkey and Kuwait at all levels,” noting that Turkey is the second country in the world with the largest investment in Kuwait. The Kuwaiti private sector, the official said, is “the largest in the Middle East investing in Turkey,” reflecting the level of “confidence”

The Kuwaiti private sector, the official said, is “the largest in the Middle East investing in Turkey,” reflecting the level of “confidence” Officers and the private sector. Al-Roudan reported that Turkish companies operating in Kuwait are “influential” in important projects, citing the work of Turkish companies in the construction of Terminal 2 at the International Kuwait Airport.

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HSBC, Europe’s biggest bank, faces huge losses, more than 10,000 people will have to lose their jobs



The Financial Times reported on Sunday (6 October) that HSBC plans to cut 10,000 jobs as interim chief executive Noel Quinn. The newspaper said it represented the lender’s most ambitious attempt to cut costs in the scheme, with two people briefed on the matter by the newspaper. It added that the cuts would primarily focus on high-paying roles.

Quinn became interim CEO in August when the bank announced the surprise departure of John Flint, stating that a change was needed at the top to address “a challenging global environment”. He became interim CEO in August after the bank announced the surprise departure of John Flint. , Stating that change is needed at the top to address “a challenging global environment”. Flint’s exit resulted in differences of views with chairman Mark Tucker

HSBC declined to comment on the FT report in response to CNA’s questions about whether its Singapore unit would be affected by any job cuts.

The chairman of Europe’s largest bank said that HSBC was ousted as chief executive for only 18 months, needing to accelerate progress on essential areas, such as the US Business changes. The exit of the CEO was a result of differences with Flint chairman Mark Tucker, a person familiar with the matter of cutting spending and setting revenue targets for senior managers to increase profits.

HSBC, which makes more than 80 percent of its profits in Asia, said Noel Quinn, head of its global commercial banking unit, would be the interim chief executive. Shares of HSBC, which fell nearly 14 per cent during Flint’s tenure, were down 1.7 per cent at 11.11am GMT (7.11pm Singapore time) in London, even as it increased gains by 16 per cent and revealed a share buyback. Happened. Up to US $ 1 billion.

Flint, who previously ran London-headquartered HSBC’s retail and wealth management business, was selected as CEO in February 2018 by Tucker, who told Reuters:

This is the right time for change, and it is very important to do it clearly and decisively from a position of strength. ” A key difference with Tucker was that of Flint’s efforts to start HSBC’s under-performing US business, a person familiar with the matter said. HSBC declined to comment. HSBC’s first external chairperson to join HSBC’s board at the end of 2017 HSBC will cut about 2 percent of its workforce or about 4,000 jobs this year

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