China has increased its output from coal-based electricity plants over the last 18 months to power an additional 31 million homes even as the rest of the world is cutting down on the usage of coal as a source of… Read More ›
Regulations & Legal
U.S. Federal Reserve approves BB&T Corp and SunTrust Banks Inc merger subject to conditions
In a statement, the U.S. Federal Reserve stated, it has approved the merger between BB&T Corp and SunTrust Banks Inc. The deal is the biggest in the banking industry since the 2007-2009 global financial crisis. According to analysts, such a… Read More ›
Commonwealth Bank of Australia pleads guilty to making unsolicited calls for selling financial products
On Tuesday, as per a statement from Australia’s corporate regulator, the life insurance arm of Commonwealth Bank of Australia has pleaded guilty to 87 counts of breaching a law banning sales staff from making unsolicited calls to sell financial products…. Read More ›
Valuation Of Saudi Aramco Finally Set At Up To $1.7 Trillion
Finally the debate around the valuation of Saudi Aramco has been settled. The total valuation of the oil giant and the most profitable company in the world has been set at between $1.6 trillion to $1.7 trillion which is lower… Read More ›
‘Constructive’ Phone Call On Trade Between US And China: Xinhua
The Chinese state media Xinhua said that the top negotiators on trade form the United States China had held a telephonic discussion on Saturday and the call resulted in both sides having “constructive talks” on the trade agreement being strived… Read More ›
Russian military exports unaffected by U.S. sanctions: Rostec CEO
On Monday, the head of Russia’s state conglomerate Rostec said, Russian military export sales have not been affected by U.S. sanctions. Following Russia’s annexation of Crimea from Ukraine along with other factors, the United States had imposed sanctions on Russia…. Read More ›
Saudi Aramco IPO set to be world’s biggest at $1.7 trillion
With Saudi oil giant Saudi Aramco putting its IPO valued at $1.7 trillion, below the $2 trillion mark sought by Saudi’s crown prince Mohammad bin Salman, it is set to become the world’s biggest Initial Public Offering. Aramco will not… Read More ›
China cuts seven-day reverse repurchase rate to 2.50% from 2.55% for first time since 2015
On Monday, in a move that further eases liquidity in China’s slowing economy, People’s Bank of China (PBOC) stated on its website that it was lowering the seven-day reverse repurchase rate to 2.50% from 2.55%. This is the first easing… Read More ›
Saudi Aramco won’t market IPO in U.S.: sources
As per two sources familiar with the matter at hand, Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States. Earlier this month, in its IPO prospectus, Aramco had said the offering of… Read More ›
Brexit casting huge shadow over Britain’s Dec. 12 elections
According to an opinion poll that was published on Saturday, British Prime Minister Boris Johnson’s Conservative Party is enjoying its highest levels of support since 2017. Johnson called for snap snap polls in Britain to end three years of disagreement… Read More ›
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