Opportunities abound in China’s stock markets, the world’s second biggest, where valuations are attractive after a long period of underperformance, a senior official at Zurich-based EFG Asset Management said after his fund raised its exposure to Chinese shares. In recent weeks, China has issued an unprecedented set of policy guidelines to push for transparency, security, […]
Shares of SK Inc., one of South Korea’s biggest conglomerates, surged as much as 16% on Thursday after a court reportedly ordered the company’s chairman to pay $1 billion to his wife in a divorce lawsuit. Chey Tae-won was told by a Seoul court to pay 1.38 trillion Korean won to his estranged wife, Roh […]
DUBAI, May 30 (Reuters) – At an industry event in Riyadh two years ago, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of giant state-owned oil producer Saudi Aramco. He was not joking. Over a career […]
May 29 (Reuters) – The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas […]
May 29 (Reuters) – Aethon Energy said on Wednesday it would buy Tellurian’s (TELL.A), opens new tab upstream assets for $260 million and signed a deal that could allow the investment firm to purchase two million tons per annum of liquefied natural gas from Tellurian’s Driftwood LNG plant. Shares of the U.S. LNG developer rose 13.2% in […]
MOSCOW, May 29 (Reuters) – HSBC (HSBA.L), opens new tab has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty. HSBC’s exit from Russia has been on the cards since February, when Russian President Vladimir Putin gave approval for the […]
China has doubled down on efforts to achieve self-sufficiency in its semiconductor industry by creating the country’s largest-ever chip investment fund, disregarding mounting pressure from US tech sanctions and a track record of corruption in these state-led programmes. The third phase of the China Integrated Circuit Industry Investment Fund, also known as the “Big Fund”, was established last Friday with a registered […]
Hong Kong-based credit investment firm SC Lowy is raising a private debt fund with a target size of up to US$800 million, nearly eight times larger than its first one. The move shows financial institutions such as SC Lowy are betting on the flourishing private debt market – in which credit is neither extended by a traditional […]
May 28 (Reuters) – JPMorgan Chase is in close contact with local officials after a building explosion in Youngstown, Ohio, a bank spokesperson said in response to questions after a video of the purported blast was posted on X. The company is checking on the safety of people in the building and area, the spokesperson […]
May 28 (Reuters) – Meme stock GameStop (GME.N), opens new tab soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month. GameStop surged as much as nearly six times its value in the first two weeks of May, partly fueled […]