Under the situation of economic crisis, if you want to work in a foreign country and still get a high salary, you should turn to Asia. According to a research, those expatriates who live in Asia and Middle East get the highest salary among all expatriates.

The HSBC Bank International, the offshore financial services arm of HSBC Holdings, indicated that the percentage of expatriates in Russia is about 30%, which is the highest in the world. The expatriates in Russia earn the most —– up to 250,000 dollars a year, in terms of the income standard, expatriates in Japan and Qatar ranked second and third following Russia.

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HSBC Holdings said on March 2, 2009 that it would raise a total of $17.7 billion in new capital from shareholders in a rights issue to strengthen its financial structure after reporting a more than 50% fall in 2008 earnings and, as expected, a surge in bad debts in the US.

The largest bank in Europe is in the process of offering 5.1 billion new shares at 254 pence apiece, or a 48% discount on Friday’s closing price, for subscription by its current shareholders. In Hong Kong, the issue price per new share is HK$28, or a 50.2% discount on its Friday close of HK$56.95.

Stephen Green, the Group Chairman, disagreed that the rights issue had appeared too late. He said it was the right time when they got the information about their performance in 2008.

Douglas Flint, the HSBC finance director, Read more…

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bank, capital, China, crisis, economy, HSBC, structure, U.S.

HSBC, the largest usurer in Europe, announced yesterday that it plans to open branches in China the moment it get the authorities’ permission and expand the population of its staff by over 50 percent by the end of this year.

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HSBC, Europe’s largest lender, announced its plans in early April to open branches in China as soon as it gets permission from relevant authorities and expand its presence by more than 50% before the end of this year.

Last year, the bank saw its operating income up by 44.2%, or $451 on the mainland, thanks to China’s sustained economic growth and the opening of new business areas in line with the country’s WTO commitments.

Richard Yorke, president and CEO of HSBC China, stressed the bank’s strong commitment to the mainland by saying, “Since our local incorporation a year ago, HSBC China has strengthened its position as the leading international bank.” The bank’s “robust growth was achieved despite the associated costs of our rapid network expansion, which saw a 74.3% increase in service outlets. This shows HSBC China is profitable and that our rapid expansion is being conducted at a sustainable pace,” he added.

Already increasing its outlets from 35 to 66 last year, the bank, which holds a stake in Bank of Communications, said it will add 2,000 to 2,500 staff member to its current 4,900 in China.

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China Business, cooperation, HSBC