China’s new digital currency could encourage worldwide use of the yuan, says CEO

China’s proposed digital currency could trigger global use of the yuan, according to the CEO of American cryptocurrency financial services firm Circle. The People’s Bank of China (PBOC) last month announced that it’s close to launching its own digital currency, saying that the rationale behind the move is to “protect” its foreign exchange sovereignty. This becomes a mechanism by which (the yuan) can be used in everyday transactions all around the world. Jeremy Allaire CEO of CircleChina’s centra


China’s proposed digital currency could trigger global use of the yuan, according to the CEO of American cryptocurrency financial services firm Circle. The People’s Bank of China (PBOC) last month announced that it’s close to launching its own digital currency, saying that the rationale behind the move is to “protect” its foreign exchange sovereignty. This becomes a mechanism by which (the yuan) can be used in everyday transactions all around the world. Jeremy Allaire CEO of CircleChina’s centra
China’s new digital currency could encourage worldwide use of the yuan, says CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eustance huang
Keywords: news, cnbc, companies, libra, used, digital, world, yuan, worldwide, currency, chinas, ceo, worlds, allaire, encourage, transactions


China's new digital currency could encourage worldwide use of the yuan, says CEO

China’s proposed digital currency could trigger global use of the yuan, according to the CEO of American cryptocurrency financial services firm Circle. The People’s Bank of China (PBOC) last month announced that it’s close to launching its own digital currency, saying that the rationale behind the move is to “protect” its foreign exchange sovereignty.

This becomes a mechanism by which (the yuan) can be used in everyday transactions all around the world. Jeremy Allaire CEO of Circle

China’s central bank plans to launch its digital token through a two-tier system, under which both the PBOC and commercial banks would be legitimate issuers. “I look at this really meeting several goals. But, I think the bigger opportunity here is this is a way for the Chinese yuan to be distributed globally,” Circle CEO Jeremy Allaire told CNBC’s “Squawk Box” on Wednesday. “This becomes a mechanism by which (the yuan) can be used in everyday transactions all around the world,” added Allaire, an internet entrepreneur who also founded video streaming firm Brightcove. “It’s ultimately a foundation for the internationalization” of the yuan.

Beijing has in recent years pushed hard to get more international entities to use the yuan outside China. The U.S. dollar is currently the world’s “reserve currency” — about 58 percent of all foreign exchange reserves in the world are in U.S. dollars, according to the IMF, and about 40 percent of the world’s debt is denominated in dollars. Mu Changchun, deputy director of the PBOC’s payments department, said that the new digital currency will have similarities to Facebook’s proposed Libra coin. It would be as safe as central-bank issued paper notes, he claimed, and could be used on platforms such as Tencent’s WeChat and even without an internet connection. Libra, which was unveiled in June, will be backed by relatively stable government-backed money — unlike bitcoin and other cryptocurrencies, which can be highly volatile and speculative. Facebook says it’s designed to enable anyone to securely store money for free on their phone and to allow people to securely send and receive Libra around the world.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eustance huang
Keywords: news, cnbc, companies, libra, used, digital, world, yuan, worldwide, currency, chinas, ceo, worlds, allaire, encourage, transactions


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US futures point to slightly higher open

U.S. stock were set to open slightly higher Monday morning. ET, Dow futures rose 54 points, indicating a positive open of more than 61 points. Futures on the S&P and Nasdaq were both also marginally higher. The drop indicates further weakness in the world’s second largest economy and puts further pressure on Chinese lawmakers to announce new economic stimulus. A weaker Chinese economy raises concerns for other countries, including Germany, given their trading links.


U.S. stock were set to open slightly higher Monday morning. ET, Dow futures rose 54 points, indicating a positive open of more than 61 points. Futures on the S&P and Nasdaq were both also marginally higher. The drop indicates further weakness in the world’s second largest economy and puts further pressure on Chinese lawmakers to announce new economic stimulus. A weaker Chinese economy raises concerns for other countries, including Germany, given their trading links.
US futures point to slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: silvia amaro
Keywords: news, cnbc, companies, higher, chinese, economy, united, worlds, slightly, futures, open, points, weaker, waking, weakness, point


US futures point to slightly higher open

U.S. stock were set to open slightly higher Monday morning.

At around 01:40 a.m. ET, Dow futures rose 54 points, indicating a positive open of more than 61 points. Futures on the S&P and Nasdaq were both also marginally higher.

Investors are waking up to new data out of China, which showed that exports unexpectedly fell in August with a large contraction for shipments to the United States. The drop indicates further weakness in the world’s second largest economy and puts further pressure on Chinese lawmakers to announce new economic stimulus. A weaker Chinese economy raises concerns for other countries, including Germany, given their trading links.


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: silvia amaro
Keywords: news, cnbc, companies, higher, chinese, economy, united, worlds, slightly, futures, open, points, weaker, waking, weakness, point


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

JP Morgan is close to winning a lead role in history’s biggest IPO: Saudi Aramco

J.P. Morgan Chase is close to winning the lead advisory role for the initial public offering of Saudi Aramco, the world’s most profitable corporation, edging out rivals for the plum assignment, according to people with knowledge of the situation. Morgan Stanley, which had been jockeying with J.P. Morgan for top billing on the deal, was hurt by its work leading the Uber IPO, according to these people. Until recently, J.P. Morgan has been viewed as an also-ran behind Morgan Stanley and Goldman Sac


J.P. Morgan Chase is close to winning the lead advisory role for the initial public offering of Saudi Aramco, the world’s most profitable corporation, edging out rivals for the plum assignment, according to people with knowledge of the situation. Morgan Stanley, which had been jockeying with J.P. Morgan for top billing on the deal, was hurt by its work leading the Uber IPO, according to these people. Until recently, J.P. Morgan has been viewed as an also-ran behind Morgan Stanley and Goldman Sac
JP Morgan is close to winning a lead role in history’s biggest IPO: Saudi Aramco Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: hugh son
Keywords: news, cnbc, companies, morgan, historys, aramco, winning, biggest, saudi, ipo, investment, worlds, lead, stanley, close, role


JP Morgan is close to winning a lead role in history's biggest IPO: Saudi Aramco

Somewhere, Jamie Dimon is smiling.

J.P. Morgan Chase is close to winning the lead advisory role for the initial public offering of Saudi Aramco, the world’s most profitable corporation, edging out rivals for the plum assignment, according to people with knowledge of the situation. A final decision is expected next week and could still change, the people said.

Morgan Stanley, which had been jockeying with J.P. Morgan for top billing on the deal, was hurt by its work leading the Uber IPO, according to these people.

Saudi officials, who are large owners of Uber through the country’s sovereign wealth fund, were displeased with Morgan Stanley after its bankers misjudged demand for the ride-sharing giant’s stock in May. The shares tumbled 18% in the first two days of trading and are still well below the IPO price of $45.

The move caps years of efforts by global investment banks to woo the Saudi kingdom for lucrative deals. An IPO of state-owned Saudi Aramco, the world’s largest oil company and the Saudi government’s main source of revenue, has been the centerpiece of a plan by Crown Prince Mohammad bin Salman to diversify the country away from fossil fuels.

With the title of lead advisor comes bragging rights in the high-stakes world of investment banking. Not only is J.P. Morgan in line for the biggest share of fees from a Saudi Aramco IPO, if it pulls off the listing smoothly, it is positioned well for future capital markets assignments from the firm.

As lead advisor, J.P. Morgan bankers are privy to the most important discussions involving major decisions with the IPO, and will coordinate the other investment banks on the deal as they distribute shares to their respective institutional clients.

Until recently, J.P. Morgan has been viewed as an also-ran behind Morgan Stanley and Goldman Sachs when it comes to advising on IPOs. So it must be particularly sweet to Dimon, the longtime CEO and chairman of J.P. Morgan, that his bank is close to winning the listing. Saudi Aramco produced $111.1 billion in profit last year, more than double what tech giant Apple made.


Company: cnbc, Activity: cnbc, Date: 2019-09-08  Authors: hugh son
Keywords: news, cnbc, companies, morgan, historys, aramco, winning, biggest, saudi, ipo, investment, worlds, lead, stanley, close, role


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

European markets trade mixed amid Brexit uncertainty

The pan-European Stoxx 600 hovered around the flatline during early trade, with sectors and major bourses pointing in opposite directions. European markets traded mixed on Friday morning, as investors monitored Brexit uncertainty and awaited a fresh batch of economic data. Market focus is largely attuned to global trade developments, after the U.S. and China agreed to hold high-level talks in early October. The news raised hopes that the world’s two largest economies could soon make substantial


The pan-European Stoxx 600 hovered around the flatline during early trade, with sectors and major bourses pointing in opposite directions. European markets traded mixed on Friday morning, as investors monitored Brexit uncertainty and awaited a fresh batch of economic data. Market focus is largely attuned to global trade developments, after the U.S. and China agreed to hold high-level talks in early October. The news raised hopes that the world’s two largest economies could soon make substantial
European markets trade mixed amid Brexit uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, data, announced, mixed, worlds, uncertainty, economic, amid, european, shares, brexit, stoxx, markets, trade, talks, early


European markets trade mixed amid Brexit uncertainty

The pan-European Stoxx 600 hovered around the flatline during early trade, with sectors and major bourses pointing in opposite directions.

European markets traded mixed on Friday morning, as investors monitored Brexit uncertainty and awaited a fresh batch of economic data.

Market focus is largely attuned to global trade developments, after the U.S. and China agreed to hold high-level talks in early October.

The news raised hopes that the world’s two largest economies could soon make substantial progress in de-escalating their protracted trade dispute.

Risk sentiment was also helped by upbeat U.S. economic data on Thursday. U.S. private payrolls increased at their fastest pace in four months in August, according to ADP. The numbers came amid speculation that the decade-long economic expansion is coming to an end.

The New York Federal Reserve puts the chance of a recession at 39% in the next 12 months, the highest level since the Great Recession that ended in mid-2009.

Back in Europe, market participants continue to monitor political uncertainty in Britain, with 55 days to go until the world’s fifth-largest economy is scheduled to leave the European Union.

On Thursday, British Prime Minister Boris Johnson was dealt a blow when his brother, Jo Johnson, announced he was quitting the cabinet, citing “unresolvable tension” between his family loyalty and the national interest.

Sterling hovered close to a six-week peak of $1.2353 Friday morning, amid hopes Britain could avoid departing the EU without a deal. The U.K. currency had fallen to a three-year low earlier in the week, after the new prime minister stoked fears of a so-called “no-deal” Brexit.

On the data front, monthly German industrial output figures will be released at around 7 a.m. London time.

A final reading of euro zone employment data and revised quarter-on-quarter GDP (gross domestic product) figures will follow slightly later in the session.

Looking at individual stocks, Danish jewelry maker Pandora’s shares gained 2.4% to top the Stoxx 600 during early deals. The company recently announced that it would undergo a complete rebrand in a bid to boost sales.

At the other end of the European index was Norwegian telecoms firm Telenor. Shares of the company were down 6% after it was announced that talks with Malaysia’s Axiata about a potential joint venture had ended without a deal.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: chloe taylor sam meredith, chloe taylor, sam meredith
Keywords: news, cnbc, companies, data, announced, mixed, worlds, uncertainty, economic, amid, european, shares, brexit, stoxx, markets, trade, talks, early


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stripe, the world’s most valuable private fintech company, is getting into lending

The world’s most valuable private fintech company is moving into a new area of banking: loans. Stripe, valued at $22.5 billion after its last funding round, announced the launch of a lending arm called Stripe Capital on Thursday. Stripe, whose rivals including Jack Dorsey’s Square and Netherlands-based Adyen, makes software that allows businesses to accept payments over the internet. The San Francisco-based company joins a list of other technology companies competing with banks to offer loans to


The world’s most valuable private fintech company is moving into a new area of banking: loans. Stripe, valued at $22.5 billion after its last funding round, announced the launch of a lending arm called Stripe Capital on Thursday. Stripe, whose rivals including Jack Dorsey’s Square and Netherlands-based Adyen, makes software that allows businesses to accept payments over the internet. The San Francisco-based company joins a list of other technology companies competing with banks to offer loans to
Stripe, the world’s most valuable private fintech company, is getting into lending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: kate rooney
Keywords: news, cnbc, companies, getting, lending, square, loans, company, fintech, private, small, valuable, need, stripe, worlds, businesses, payments, rivals, companies, stripes, capital


Stripe, the world's most valuable private fintech company, is getting into lending

The world’s most valuable private fintech company is moving into a new area of banking: loans.

Stripe, valued at $22.5 billion after its last funding round, announced the launch of a lending arm called Stripe Capital on Thursday. The new venture is meant to help online companies borrow money to grow their businesses — which in turn, helps Stripe’s business.

“Stripe Capital makes it easy for internet businesses to get the funds they need, when they need them,” Stripe’s Chief Product Officer Will Gaybrick said in a statement. Gaybrick said small businesses are the “engines for job creation in our economy” and it should be “trivially simple and lightning fast” for them to access the capital and invest in their own growth.

Stripe, whose rivals including Jack Dorsey’s Square and Netherlands-based Adyen, makes software that allows businesses to accept payments over the internet. Growth in companies using their platform could eventually help Stripe’s bottom line.

The San Francisco-based company joins a list of other technology companies competing with banks to offer loans to small businesses. PayPal and Square, fintech rivals in the payments business, both reported significant growth in their loan portfolios in the second quarter. E-commerce giant Amazon offers similar products to merchants on its payments network through “Amazon Lending,” an invitation-only program with loans as low as $1,000.

In many cases, those loans are well below the average amount a bank would facilitate. In the case of Square, the average loan is between $6,000 and $7,000 and could be as low as $500.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: kate rooney
Keywords: news, cnbc, companies, getting, lending, square, loans, company, fintech, private, small, valuable, need, stripe, worlds, businesses, payments, rivals, companies, stripes, capital


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dow futures jump more than 200 points

U.S. stock index futures were higher Wednesday morning. ET, Dow futures rose 204 points, indicating a positive open of more than 203 points. The Caixin/Markit Services Purchasing Managers’ Index (PMI) came in at 52.1 in August — its highest reading since May. It marked the latest escalation in a long-running trade war between the world’s two largest economies. It prompted the new prime minister to announce he would immediately push for a snap election.


U.S. stock index futures were higher Wednesday morning. ET, Dow futures rose 204 points, indicating a positive open of more than 203 points. The Caixin/Markit Services Purchasing Managers’ Index (PMI) came in at 52.1 in August — its highest reading since May. It marked the latest escalation in a long-running trade war between the world’s two largest economies. It prompted the new prime minister to announce he would immediately push for a snap election.
Dow futures jump more than 200 points Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: sam meredith
Keywords: news, cnbc, companies, services, dow, trade, 200, minister, growth, prime, index, worlds, points, pmi, jump, futures


Dow futures jump more than 200 points

U.S. stock index futures were higher Wednesday morning.

At around 03:00 a.m. ET, Dow futures rose 204 points, indicating a positive open of more than 203 points. Futures on the S&P and Nasdaq were both higher.

The moves in pre-market trade come after a report showed growth in China’s services sector had expanded at its fastest rate in three months in August, despite broader economic headwinds.

The Caixin/Markit Services Purchasing Managers’ Index (PMI) came in at 52.1 in August — its highest reading since May. The 50-mark in PMI readings separates growth and contraction.

At the start of the month, the U.S. and China imposed new tariffs on one another’s goods. It marked the latest escalation in a long-running trade war between the world’s two largest economies.

Meanwhile, in Europe, a cross-party alliance of rebel lawmakers defeated British Prime Minister Boris Johnson in parliament on Tuesday, moving to prevent him from taking the country out of the European Union without a formal agreement on October 31.

It prompted the new prime minister to announce he would immediately push for a snap election.

Sterling has since pared some of its recent losses against the U.S. dollar. The U.K. currency edged up 0.2% to climb above $1.21 Wednesday morning, after falling to its lowest level since October 2016 in the previous session.


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: sam meredith
Keywords: news, cnbc, companies, services, dow, trade, 200, minister, growth, prime, index, worlds, points, pmi, jump, futures


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

These are the world’s most liveable cities in 2019

For the second year in a row, Vienna, Austria has been ranked the most liveable city in the world, according to The Economist Intelligence Unit (EIU). The Austrian capital had almost perfect scores for stability, culture and environment, education and infrastructure and health care. “Atlanta has risen 17 places due to a major upgrade in its stability score, while Seattle rose by 10 places.” The top 10 most liveable cities in the world, and their scores according to The Global Liveability Index 2


For the second year in a row, Vienna, Austria has been ranked the most liveable city in the world, according to The Economist Intelligence Unit (EIU). The Austrian capital had almost perfect scores for stability, culture and environment, education and infrastructure and health care. “Atlanta has risen 17 places due to a major upgrade in its stability score, while Seattle rose by 10 places.” The top 10 most liveable cities in the world, and their scores according to The Global Liveability Index 2
These are the world’s most liveable cities in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: taylor locke
Keywords: news, cnbc, companies, liveable, vienna, score, 2019, stability, york, city, scores, worlds, canada, australia, cities


These are the world's most liveable cities in 2019

For the second year in a row, Vienna, Austria has been ranked the most liveable city in the world, according to The Economist Intelligence Unit (EIU). The Austrian capital had almost perfect scores for stability, culture and environment, education and infrastructure and health care.

Melbourne, Australia, at night. James O’Neil | Getty Image

Melbourne, Australia took the second-place spot, following close behind Vienna’s score. Vienna had taken the top spot from Melbourne last year after seven consecutive years at No. 1. Sydney, Austraila; Osaka, Japan; and Calgary, Canada make up the remaining top five on the annual Global Liveability Index of 140 cities around the world.

Honolulu, Hawaii Naomi Hayes of Island Memories Photography | Getty Images

Not one U.S. city landed in the top 10 this year. Honolulu scored the highest among U.S. cities, ranking 22nd. Atlanta trailed at 33rd, followed by Pittsburgh at 34th and Seattle at 36th. “Despite increased gun violence, five U.S. cities have registered improved scores over the past year,” Agathe Demarais, the EIU’s Global Forecasting Director, said in a press release regarding the report. “Atlanta has risen 17 places due to a major upgrade in its stability score, while Seattle rose by 10 places.” Despite being rated highly for culture, New York only ranked 58th. The city’s rank lagged due to lower scores in infrastructure and stability, with a higher perceived risk of crime and terrorism.

New York, New York E+ | Getty Images

The EIU examines the quality of health care, education, infrastructure, stability, and culture when assessing living conditions of each city. More than 30 factors are taken into account when calculating each rank, which are then complied into a weighted score between one and 100. The top 10 most liveable cities in the world, and their scores according to The Global Liveability Index 2019, are: 1. Vienna, Austria (99.1) 2. Melbourne, Australia (98.4) 3. Sydney, Australia (98.1) 4. Osaka, Japan (97.7) 5. Calgary, Canada (97.5) 6. Vancouver, Canada (97.3) 7. Tokyo, Japan (97.2 tie) 7. Toronto, Canada (97.2 tie) 9. Copenhagen, Denmark (96.8) 10. Adelaide, Australia (96.6) Like this story? Subscribe to CNBC Make It on YouTube! Don’t miss: This is the most liveable city in America


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: taylor locke
Keywords: news, cnbc, companies, liveable, vienna, score, 2019, stability, york, city, scores, worlds, canada, australia, cities


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hurricane Dorian could cost insurers $25 billion, UBS says

Trump may be able to order US firms out of China but it will cost…U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a…China Economyread more


Trump may be able to order US firms out of China but it will cost…U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a…China Economyread more
Hurricane Dorian could cost insurers $25 billion, UBS says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02
Keywords: news, cnbc, companies, china, dorian, hurricane, largest, ubs, insurers, trump, worlds, order, president, power, politically, second, billion, cost, leave


Hurricane Dorian could cost insurers $25 billion, UBS says

Trump may be able to order US firms out of China but it will cost…

U.S. President Donald Trump may have the power to order American companies in China to leave the world’s second largest economy, but it would cost him politically, said a…

China Economy

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-02
Keywords: news, cnbc, companies, china, dorian, hurricane, largest, ubs, insurers, trump, worlds, order, president, power, politically, second, billion, cost, leave


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US futures point to slightly higher open, reversing earlier losses

U.S. stock index futures were slightly higher Friday morning. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses. Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks. At the same time, economic data has also pointed to a global growth slowdo


U.S. stock index futures were slightly higher Friday morning. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses. Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks. At the same time, economic data has also pointed to a global growth slowdo
US futures point to slightly higher open, reversing earlier losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: sam meredith
Keywords: news, cnbc, companies, trade, reversing, higher, worlds, global, slightly, tensions, futures, wild, losses, weekschinas, point, willing, points, earlier, open


US futures point to slightly higher open, reversing earlier losses

U.S. stock index futures were slightly higher Friday morning.

At around 03:45 a.m. ET, Dow futures rose 42 points, indicating a positive open of more than 63 points. Futures on the S&P and Nasdaq were both marginally higher, reversing earlier losses.

Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks.

China’s commerce ministry said Thursday it was willing to calmly resolve the long-running trade dispute, but added it was against any further escalation in tensions. The comments spurred hopes for progress in talks.

Trade tensions have dominated market sentiment for much of this year, with wild swings in global markets as rhetoric between world’s two largest economies fluctuates from conciliatory to combative.

At the same time, economic data has also pointed to a global growth slowdown, ramping up concerns of a possible recession.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: sam meredith
Keywords: news, cnbc, companies, trade, reversing, higher, worlds, global, slightly, tensions, futures, wild, losses, weekschinas, point, willing, points, earlier, open


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Saudi Aramco reportedly favors Tokyo for its overseas IPO

Saudi Aramco is considering Tokyo — instead of early favorites London and Hong Kong — as the international destination to list its shares, The Wall Street Journal reported on Thursday. The initial public offering of Saudi Arabia’s state oil giant’s shares will take place over two stages: A flotation on the Saudi stock exchange later this year, followed by an international listing in 2020 or 2021, the Journal reported, citing advisors and officials familiar with the plans. Aramco’s IPO, when it g


Saudi Aramco is considering Tokyo — instead of early favorites London and Hong Kong — as the international destination to list its shares, The Wall Street Journal reported on Thursday. The initial public offering of Saudi Arabia’s state oil giant’s shares will take place over two stages: A flotation on the Saudi stock exchange later this year, followed by an international listing in 2020 or 2021, the Journal reported, citing advisors and officials familiar with the plans. Aramco’s IPO, when it g
Saudi Aramco reportedly favors Tokyo for its overseas IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: yen nee lee
Keywords: news, cnbc, companies, reportedly, aramco, worlds, shares, international, tokyo, saudi, reported, journal, thursdaythe, overseas, favors, ipo, public, wall


Saudi Aramco reportedly favors Tokyo for its overseas IPO

Saudi Aramco is considering Tokyo — instead of early favorites London and Hong Kong — as the international destination to list its shares, The Wall Street Journal reported on Thursday.

The initial public offering of Saudi Arabia’s state oil giant’s shares will take place over two stages: A flotation on the Saudi stock exchange later this year, followed by an international listing in 2020 or 2021, the Journal reported, citing advisors and officials familiar with the plans.

Aramco’s IPO, when it goes ahead, is expected to be the world’s largest.

The company had targeted to raise $100 billion through selling 5% of its share in the public markets, but it’s not clear what the final amount will be, according to the report.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: yen nee lee
Keywords: news, cnbc, companies, reportedly, aramco, worlds, shares, international, tokyo, saudi, reported, journal, thursdaythe, overseas, favors, ipo, public, wall


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post