News

  RIYADH / Reuters Saudi Arabia is considering two options for the shape of Saudi Aramco when it sells shares in the national oil giant next year: a global industrial conglomerate, and a specialised international oil company, industry and banking sources said. The listing of Aramco <IPO-ARMO.SE>, expected to be the world’s biggest initial public offer and raise tens of ...

  Reuters A shift in the use of liquefied petroleum gas (LPG) to petrochemicals and away from transport has pushed demand for the fuel to new records in South Korea, after years of slumping consumption, a change which mostly benefits US suppliers. South Korea mainly used LPG to power cars up to 2010, but sales started to spiral down as ...

  Bloomberg Hong Kong and Singapore are at it again. The Asian financial hub rivals are reviving a debate on dual-class shares as global competition for the hottest initial public offerings intensifies. Singapore is a few steps ahead. Prime Minister Lee Hsien Loong last week gave his approval to dual-class shares and other measures proposed by a panel to drive ...

  Bloomberg India’s growth will bounce back after a sharp slowdown triggered by Prime Minister Narendra Modi’s clampdown on cash, said central bank Governor Urjit Patel. “Almost everyone agrees that the impact is going to be a sharp ‘V,’ that we would have a downgrade of growth for a short period of time,” Patel told CNBC-TV18 in an interview telecast ...

  Bloomberg Indonesian stock fund manager Agus Yanuar has trounced his peers and the Jakarta Composite Index over the past year by riding a rebound in commodity prices. Now, the chief investment officer at PT Samuel Aset Manajemen says he’s sticking to his guns. Yanuar’s SAM Indonesian Equity Fund has returned 39 percent in 12 months, more than double its ...

  Bloomberg Singapore forecasts slower growth in tourist arrivals this year, citing global economic and political uncertainties and stiffer competition from neighbors in the region. Visitors may increase zero percent to 2 percent in 2017, according to the Singapore Tourism Board. Growth was 7.7 percent last year with a record 16.4 million tourists led by visitors from China, India and ...

  ABU DHABI / WAM The Ministry of Finance (MoF) signed two final agreements on the avoidance of double taxation and the protection and promotion of investment with Burundi. The agreements came as part of the Ministry’s strategy to expand its international relations and to protect and promote Emirati investments. The agreement was signed by Obaid Humaid Al Tayer, Minister ...

  Dubai / WAM Dubai Financial Market (DFM) announced on Thursday that its UAE listed companies have shown a 100% compliance to disclose their preliminary results for the financial year 2016 within the deadline of 45 days from the end of the year in line with the regulations of the Securities and Commodities Authority (SCA). As much as 48 UAE ...

  Dubai / WAM Strategic partners are on top of Dubai Airports priorities regarding its strategic plan 2017-2025 to achieve their aspirations of making Dubai International Airport an international model in service and satisfying customers in compliance with the UAE government’s directives, said Majed Al Joker, Senior Vice President of Dubai Airports for Corporate Assurance and Governance. Al Joker praised the ...

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and the Malta Financial Services Authority (MFSA) have signed a Memorandum of Understanding to reinforce regulatory cooperation for the supervision of financial institutions, to facilitate joint collaboration and exchange of information as well as support cross border activities. The MoU was signed on February, 2 by Joseph V. Bannister, Chairman of ...