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Opalesque Exclusive: EFG-Hermes expands its Saudi offering with new equity fund Regional Investment Bank launches new Saudi Arabia Equity Fund which is open to foreign Investors Leading regional investment bank, EFG-Hermes, today launched its latest product, the EFG-Hermes Saudi Arabia Equity Fund, providing investors with an opportunity to access the Middle East’s largest market. Actively managed by EFG-Hermes’ Riyadh-based Asset Management Team, the Saudi Arabia Equity Fund aims to replicate the success and track record of EFG-Hermes’ other regional funds. This Fund has been launched with the authority of the Saudi Arabia Capital Markets Authority, and has an anticipated launch date of March 2008…

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HSBC gets brokerage permit for trading on UAE exchanges From Hedgworld.com: HSBC Middle East Securities, HSBC Holdings' UAE brokerage arm, has received its final license from the Emirates Securities and Commodities Authority to operate a broker on the UAE's stock exchanges.

HSBC, which is set up to trade on the Abu Dhabi Securities Market and the Dubai Financial Market, will become the first global bank to trade on the UAE exchanges directly. The firm will start trading for institutional investors later this month, according to a news release, and later this year will offer brokerage services to retail investors. Full articl......................

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