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New UK listing rules set to attract state companies beyond Aramco

New UK listing rules set to attract state companies beyond Aramco

Capital markets lawyers say that as well as Saudi Arabia, the changes will appeal to a number of countries that are also in the midst of asset privatization plans. LONDON: Proposed changes to Britain’s listing regime are likely to attract a series of state-backed companies to London’s stock markets as governments in oil rich states […]

July 18, 2017 | By | Reply More
Asian sovereign investors face off with funds in hunt for private deals

Asian sovereign investors face off with funds in hunt for private deals

Globally, sovereign wealth funds (SWFs) are trying to make their assets work harder as returns are under pressure. SINGAPORE: Asian sovereign investors are increasingly adding non-public firms to their portfolios amid pricey stock markets, a strategy that could be risky as they compete head-on for such deals with cashed-up private funds. Such investments of China […]

July 17, 2017 | By | Reply More
DBS Group plans US dollar Green bond debut

DBS Group plans US dollar Green bond debut

The DBS Green Bond framework is structured in accordance with the ICMA Green Bond Principles, and has a second opinion from Sustainalytics. HONG KONG: DBS Group Holdings, rated Aa2/AA- (Moody’s/Fitch), has hired banks for a potential offering of US dollar Green bonds, which would be the first offshore issue of this kind from a Singapore […]

July 17, 2017 | By | Reply More
China’s Lufax to launch first overseas platform in Singapore

China’s Lufax to launch first overseas platform in Singapore

The company is targeting middle-class retail customers, which could initially include Chinese investors with offshore accounts and southeast Asians. SINGAPORE: Chinese online wealth management giant Lufax will launch its first overseas platform in Singapore, the company said on Monday, as a more welcoming regulatory environment gave the city state an edge over neighboring Hong Kong. […]

July 17, 2017 | By | Reply More
Netflix shares jump as subscriptions top 100 million

Netflix shares jump as subscriptions top 100 million

Most of the subscriber growth came from outside the US, where Netflix has invested heavily in establishing itself as a global television service. SAN FRANCISCO: Netflix on Monday reported that its number of subscribers climbed more than expected, topping 100 million worldwide and sending shares in the leading on-demand television service soaring. Netflix shares leapt […]

July 17, 2017 | By | Reply More
Mahindra plans to double investment in US

Mahindra plans to double investment in US

The company also plans to make additional hires in North American tractors and autos, officials said. NEW YORK: Indian conglomerate Mahindra Group plans to double its US investment in the next five years, where it is hoping to its two-wheel electric scooters will win over American millennials. “We’re very bullish,” executive chairman Anand Mahindra told […]

July 17, 2017 | By | Reply More
FedEx says cyber attack to hurt its fiscal 2018 results

FedEx says cyber attack to hurt its fiscal 2018 results

FedEx said it has experienced loss of revenue due to decreased volumes at TNT Express, incremental costs from contingency plans and remediation of affected systems. NEW YORK: Package delivery company FedEx Corp said its fiscal 2018 results would be hurt in part due to disruption of operations in its TNT Express unit following a cyber […]

July 17, 2017 | By | Reply More
Mazda recalls additional 19,000 vehicles in South Africa over airbag scare

Mazda recalls additional 19,000 vehicles in South Africa over airbag scare

The recall was prompted by investigations in Japan and North America for three different types of Takata Corp manufactured airbags over safety concerns that inflators were defective. CAPE TOWN: Mazda Motor Corp. is recalling 19,000 cars in South Africa due to airbag safety concerns as the Japanese carmaker extends a global recall to cover a […]

July 17, 2017 | By | Reply More
Dollar nurses losses, China cheer fuels carry trade

Dollar nurses losses, China cheer fuels carry trade

China’s second-quarter gross domestic product handily topped forecasts with a rise of 6.9% on the year, while retail sale and industrial output were both strong. SYDNEY: The dollar huddled near a 10-month trough on Monday as upbeat Chinese news and the prospect of only gradual policy tightening in the United States sent investors piling into […]

July 17, 2017 | By | Reply More
Oil prices firm on strong China demand, signs of US output slowdown

Oil prices firm on strong China demand, signs of US output slowdown

Traders and analysts said the rising prices were a result of strong demand as well as signs that a relentless climb in US oil production was slowing down. SINGAPORE: Oil prices strengthened on Monday, supported by a slowdown in the growth of rigs looking for crude in the United States and because of strong refinery […]

July 17, 2017 | By | Reply More