News in brief
HSBC taps into Algerian FX
HSBC is continuing to capitalise on growth in emerging market economies by kicking off FX operations in a new branch and head office in Algeria's capital.
Algeria is one of the fastest-growing economies on the African continent, with real GDP growth expected to reach 5% by the end of 2008. Forex reserves exceeding $120 billion and Algeria's growing production of hydrocarbons boosted GDP growth to more than 4.5%
in 2007.
Opened on August 3, the office will market
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