 HSBC to close retail banking operation in Russia April 25, 2011 - 13:18 AMT PanARMENIAN.Net - Europe's largest bank, HSBC, has decided to close its retail banking operation in Russia and concentrate on servicing corporate clients, a document obtained by Reuters showed on Monday, April 25. "We encourage all customers to close their HSBC Premier and HSBC Plus accounts before June 30, 2011," the document said. HSBC will follow British Barclays, which earlier this year said it will sell its Russian unit and focus on investment banking, as it was unable to compete in local retail business.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year  German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year.Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan.Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan.Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |
