{"id":582693,"date":"2023-03-13T00:00:00","date_gmt":"2023-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/13\/this-evening-hassan-allam-utilities-agility-are-launching-green-logistics-parks-hsbc-scoops-up-uk-arm-of-silicon-valley-bank\/"},"modified":"2023-03-13T00:00:00","modified_gmt":"2023-03-13T00:00:00","slug":"this-evening-hassan-allam-utilities-agility-are-launching-green-logistics-parks-hsbc-scoops-up-uk-arm-of-silicon-valley-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/13\/this-evening-hassan-allam-utilities-agility-are-launching-green-logistics-parks-hsbc-scoops-up-uk-arm-of-silicon-valley-bank\/","title":{"rendered":"THIS EVENING: Hassan Allam Utilities, Agility are launching green logistics parks + HSBC scoops up UK arm of Silicon Valley Bank"},"content":{"rendered":"

Good afternoon, friends.<\/span> It\u2019s shaping up to be a relatively brisk Monday, both at home and<\/span> abroad. <\/span><\/p>\n

THE BIG STORIES TODAY<\/span><\/p>\n

<\/span>Hassan Allam Utilities launches green logistics parks with Agility:<\/span> Our friends at Hassan Allam<\/span> Utilities will build green logistics parks in a joint venture with Agility, according to a <\/span>press release (pdf)<\/a><\/span>.<\/span> Hassan Allam Holding\u2019s investment and development arm will develop the Yanmu parks, which include storage and distribution warehouses, alongside industrial developer Agility. Yanmu East Park, a 270k sqm storage park, will be complete and operational by<\/span> 3Q 2023, <\/span>while Yanmu West Park is expected in 2024. The parks will incorporate sustainable practices into its design, such as solar rooftops, the release said. <\/span><\/p>\n

<\/span>HSBC to acquire UK arm of collapsed Silicon Valley Bank for GBP 1: <\/span>HSBC UK is buying<\/span> the UK unit of Silicon Valley Bank (SVB) \u2014 a major lender to British tech startups \u2014 for GBP 1 (no, we\u2019re not missing a mn or bn), according to <\/span>CNN<\/a><\/span>. \u201cThis action has been taken to stabilize SVBUK, ensuring the continuity of banking services, minimizing disruption to the UK technology sector and supporting confidence in the financial system,\u201d a <\/span>Bank of England statement<\/a><\/span> read. The move comes after ministers and bankers scrambled to find solutions to avoid contagion from the collapse of the US-based bank. The unit\u2019s staff will retain their jobs and SVBUK will remain authorized by UK regulators. \u201cSVB UK customers can continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC,\u201d Noel Quinn, CEO of HSBC said in a <\/span>statement<\/span> cited by CNN. <\/span><\/p>\n

In a separate move to contain the fallout from SVB\u2019s collapse: <\/span>US private bank First Republic Bank obtained additional funding through JPMorgan Chase & Co., granting it access to USD 70 bn from multiple sources, <\/span>Reuters<\/a><\/span>reports.<\/span><\/p>\n

THE BIG STORY ABROAD<\/span><\/p>\n

And the Oscar goes to:<\/span>Everything Everywhere All at Once\u2019s<\/a><\/span> Oscar dominance is front page of<\/span> the international press today as it took home seven total awards last night, including three of the four big acting awards. Star of the indie film, Michelle Yeoh, became the first Asian woman to earn the award for Best Actress for her portrayal of Evelyn Wang as she juggles family and professional tension and misery across multiple universes. Everything Everywhere has become synonymous with a forward-looking Hollywood, said the <\/span>Wall Street Journal<\/a><\/span>, rather than a movie industry obsessed with remakes and sequels. Netflix\u2019s World War I epic, <\/span>All Quiet on the Western Front<\/a><\/span> was the other big earner, taking four awards including best international feature. <\/span><\/p>\n

Also giving the Oscar\u2019s ink: <\/span>T<\/span>he <\/span>Financial Times<\/a><\/span>, <\/span>Bloomberg<\/a><\/span>, <\/span>Reuters<\/a><\/span>and the <\/span>BBC<\/a><\/span>.<\/span><\/p>\n

HAPPENING NOW- El Sisi + Danish PM host joint presser:<\/span> President Abdel Fattah El Sisi<\/span> and Denmark\u2019s Prime Minister Mette Frederikson held a joint press <\/span>conference<\/span> earlier today following a meeting (<\/span>watch<\/a><\/span>runtime<\/a><\/span>14:25<\/a><\/span>). The two leaders<\/span> discussed bilateral cooperation in the shipping, transportation, and renewable energy sectors, alongside issues of human rights and illegal migration, El Sisi said. <\/span>Frederikson<\/span> is on a three-day visit to <\/span>Egypt, <\/span>according to <\/span>Al Shorouk<\/a><\/span>. <\/span><\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n