Aramco listing plan halted, oil giant disbands advisors – sources
The financial advisors working on the proposed listing have been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries Corp, two of the sources said
Oil firm on tighter U.S. outlook, but strategic reserve release caps market
International Brent crude oil futures were down 9 cents, at $72.12 a barrel
Dollar broadly lower after Trump remarks
The greenback slipped after Trump said in an interview on Monday that he was “not thrilled” with Powell’s raising of interest rates
Sale of refrigerators, deep freezers up by 15 to 20pc
KARACHI: The sale of Refrigerators and Deep Freezers have gone up by approximately 15-20 per cent on the eve of this Eidul...
Market Daily: PM gets cold welcome from PSX as stocks end flat
LAHORE: The Pakistan Stock Exchange (PSX) did not give a very warm welcome to the new Prime Minister. As economic worries loom,...
PepsiCo to acquire Sodastream for $3.2 billion
Under the terms of the agreement between PepsiCo and SodaStream, PepsiCo has agreed to acquire all of the outstanding shares of SodaStream International Ltd. for $144.00 per share, in a transaction valued at $3.2 billion. The transaction will be funded with PepsiCo's cash on hand
Dollar little changed ahead of anticipated U.S.-China talks
On Monday, the dollar index traded in a narrow range between 96.103 and 96.219, not far off 96.096 touched on Friday, its lowest level since Aug. 10
Turkish lira crisis poses additional risk to German economy: finance ministry
The Turkish lira has lost nearly 40 percent of its value against the dollar this year, hit by a worsening diplomatic rift with the United States and by investor alarm about President Tayyip Erdogan’s influence over monetary policy
Oil prices edge down on worries over slowing economic growth
Brent crude futures, which act as a benchmark for international oil prices, were at $71.59 per barrel at 0413 GMT, down 24 cents, or 0.3 percent, from their last close
SBP stipulation creates oversupply of dollars and other currencies
The central bank seems happy with the present scenario, as the kerb market US dollar rate hovers below the inter-bank market rate and there is no adjustment as per market rate
Iran says no OPEC member can take over its share of oil exports
Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia and Iraq
Russian oil industry would weather U.S. ‘bill from hell’
While the ruble has fallen more than 10 percent and Russian banking stocks have slumped 20 percent since the legislation was introduced, shares in Russian oil firms have climbed 2 percent, leaving them 27 percent higher so far in 2018
S&P lowers Turkey’s credit rating deeper into junk territory
S&P forecast that inflation will peak at 22 percent over the next four months and said the weakening lira was putting pressure on the indebted corporate sector and had considerably increased the funding risk for Turkey’s banks
Tax regulator contemplating forensic audit of share transactions
The Federal Board of Revenue (FBR) officials deduced hiding of withholding taxes on share transactions since the brokerage commission on these transactions exhibited growth during FY18
Dubai regulator probes Abraaj Capital, stops it from taking on new work
It is the first time that DFSA has said publicly it is investigating Abraaj, which faces allegations by some investors of misusing their money in a $1 billion healthcare fund.