Bloomberg Saudi International Petrochemical Co. signed a non-binding agreement to acquire Sahara Petrochemical Co. in an all-share deal valued at just over $2 billion. Saudi International Petrochemical Co., or Sipchem, will issue each Sahara shareholder with 0.8356 new Sipchem shares, the companies said in statements on Wednesday. The deal is valued at about $2.2 billion, according to Tuesday’s closing price. ...

Bloomberg Indonesia is weighing proposals to cut the levy on gains from its sovereign bonds and extend tax breaks to exporters who will park their dollar earnings in local banks for a longer period as part of measures to shore up a weakening currency. Lower bond taxes could attract more inflows and help “deepen domestic financial markets,” Robert Pakpahan, director ...

Bloomberg Tencent Music Entertainment Group, the online-music arm of China’s largest social-media company, filed for an initial public offering (IPO) in a continuing surge of US listings by Chinese companies. The music-streaming site listed its offering size as $1 billion in a filing with the US Securities and Exchange Commission. The amount is a placeholder and may change. Tencent Music ...