Economy 16
RIYADH, Nov 29 — Saudi Aramco has received bids for its shares totalling US$44.3 billion so far, lead manager Samba Capital said today, putting its initial public offering on track to be over-subscribed.

29 Nov 13:35 2 articles

Saudi Aramco IPO gets US$44.3b in bids so far, says lead manager

RIYADH, Nov 29 — Saudi Aramco has received bids for its shares totalling US$44.3 billion so far, lead manager Samba Capital said today, putting its initial public offering on track to be over-subscribed. The state-owned oil giant plans to sell 1.5 per cent of the company’s shares for as much as...

29 Nov 13:35 Malaymail 302165934477261802.html
Saudi Aramco IPO received $44.3 billion in bids so far: Samba Capital

The state-owned oil giant plans to sell 1.5% of the company's shares for as much as 96 billion riyals ($25.6 billion), a deal which would give it a market value of $1.7 trillion

29 Nov 13:26 Business-Standard 1502508925168527743.html
Bitcoin (BTC) is trading up around 2% at $7,600 on the back of the European session this morning, which is where it has been consolidating for a couple of days. With the weekend looming and the month of November coming to a close, Bitcoin price action is at a critical point and is likely to result in volatility over the weekend.

29 Nov 13:53 2 articles

Bitcoin Price Hits Tipping Point Above $7.6K — Pivotal Weekend Ahead

Bitcoin bulls and bears are set to have a key battle going into the weekend at a critical price level that could set the tone for the rest of the year.

29 Nov 13:53 Cointelegraph 3050247241100885812.html
Bitcoin Price Hits Tipping Point Above $7.6K — Pivotal Weekend Ahead

Bitcoin bulls and bears are set to have a key battle going into the weekend at a critical price level that could set the tone for the rest of the year.

29 Nov 13:53 Cointelegraph 3050247239973009165.html
BENGALURU (Reuters) - Global funds recommended switching cash back into equities in November as stocks worldwide rose to near record highs despite a lack of clarity over how, when, or if a truce will be called on the damaging U.S.-China trade war, a Reuters poll showed.

29 Nov 13:12 2 articles

Global funds raise stock allocations at the expense of cash: Reuters poll

BENGALURU (Reuters) - Global funds recommended switching cash back into equities in November as stocks worldwide rose to near record highs despite a lack of clarity over how, when, or if a truce will be called on the damaging U.S.-China trade war, a Reuters poll showed.

29 Nov 13:12 Reuters 8334514180858909201.html
Business Cycle Data And Investor Sentiment Supportive Of Higher Equity Prices

One factor impacting investor sentiment at the moment may be the fact the equity market has generated strong returns to date in 2019.With the strong equity market returns in 2019, investors seem to be

29 Nov 10:42 Seeking Alpha 5725634556651053030.html
Oil prices will remain subdued in 2020 as growth concerns weigh on demand and fuel a glut of crude, a Reuters poll showed on Friday ahead of production-policy talks among Opec and its allies next week.

29 Nov 12:28 2 articles

Oil to be stuck in a rut in 2020 as slowing demand fuels glut

Opec unlikely to opt for deeper output cuts.

29 Nov 12:28 Moneyweb 1092550947604242629.html
Oil to be stuck in a rut in 2020 as slowing demand fuels glut: Reuters poll

(Reuters) - Oil prices will remain subdued in 2020 as growth concerns weigh on demand and fuel a glut of crude, a Reuters poll showed on Friday ahead of production-policy talks among OPEC and its allies next week.

29 Nov 11:02 Reuters 8334514180170824205.html
BEIJING — Shares extended losses in Asia on Friday after Japan and South Korea reported weak manufacturing data that suggest a worsening toll from trade tensions.

29 Nov 12:27 3 articles

Asian shares slide on weak Japan data; US markets closed

BEIJING — Shares extended losses in Asia on Friday after Japan and South Korea reported weak manufacturing data that suggest a worsening toll from trade tensions.

29 Nov 12:27 Manila Bulletin Business 8374351514602970679.html
World shares mostly slide in ‘Black Friday' retreat

BEIJING (AP) - Stock markets mostly fell Friday as investors gauged whether renewed China-U.S. tensions might lead to a "Black Friday" sell-off, and with U.S. traders largely out for a long weekend.

29 Nov 12:51 NEWS wpxi.com 7786541638280347692.html
World shares mostly slide in ‘Black Friday' retreat

BEIJING (AP) - Stock markets mostly fell Friday as investors gauged whether renewed China-U.S. tensions might lead to a Black Friday sell-off, and with U.S. traders largely out for a long weekend.

29 Nov 12:51 WFXT 6395891952509430609.html
India’s economic growth contracted to 4.5% in the July-September quarter as consumption failed to revive and private investment remained stagnant, government data showed on Friday. This is the slowest growth rate in more than six years, and the sixth straight quarter of slowdown. In the current GDP series, the lowest growth rate was 4.3% recorded in the fourth quarter of the 2012-’13 financial year.

29 Nov 12:16 3 articles

India’s economic growth falls to 4.5% in July-September quarter – the slowest in over six years

This is the sixth straight quarter of slower growth. The GDP grew just 5% in the April-June quarter.

29 Nov 12:16 Scroll.in 8669301693808318950.html
GDP growth tanks to 4.5% in Q2; core industries' output shrinks 5.8% in Oct

Fiscal deficit in the first seven months of FY20 already at 102% of government's target for full financial year

29 Nov 14:15 Business-Standard 1502508926227077268.html
India's Sep-quarter GDP growth slips to 4.5%, the lowest in over six years

Q2 growth numbers fell, in line with economists' expectations, mainly on account of a weak manufacturing, falling consumer demand and private investment, and a drop in exports due to a global slowdown

29 Nov 12:05 Business-Standard 1502508925418997788.html
The Indian rupee opened on a weak note and fell 11 paise to 71.73 against the US dollar in early trade on Friday, as investors traded the cautious path ahead of the release of GDP data.

29 Nov 10:15 2 articles

Rupee slips 11 paise to 71.73 against USD ahead of GDP

India's economy grew at 5 per cent in the first quarter of 2019-20 -- the slowest pace in over six years.

29 Nov 10:15 Deccan Herald 2027555796297658221.html
Rupee slips 12 paise to 71.74 against US dollar ahead of GDP data

On a weekly basis, the domestic unit has lost 3 paise.

29 Nov 12:05 The Hindu 6679535026190984478.html
DHFL is one of the biggest defaulters in the country that owes over Rs 1 lakh crore (over $14 billion) to its debtors

29 Nov 12:30 2 articles

RBI files insolvency application against debt-laden DHFL

DHFL is one of the biggest defaulters in the country that owes over Rs 1 lakh crore (over $14 billion) to its debtors

29 Nov 12:30 Business Today 1145527430828302296.html
In a first, RBI sends DHFL to NCLT for debt resolution

India Business News: The Reserve Bank of India (RBI) on Friday sent the troubled mortgage lender Dewan Housing Finance (DHFL) for bankruptcy proceedings, making it the fir

29 Nov 10:58 The Times of India 6060938664314227164.html
SEOUL (Reuters) - North Korean leader Kim Jong Un expressed “great satisfaction” over the latest test of a large multiple-rocket launcher, state media said on Friday, a launch that experts said showcased improving performance by the system and its crews.

29 Nov 10:04 2 articles

North Korea's Thanksgiving Day test shows improving speed for missile crews

SEOUL (Reuters) - North Korean leader Kim Jong Un expressed “great satisfaction” over the latest test of a large multiple-rocket launcher, state media said on Friday, a launch that experts said showcased improving performance by the system and its crews.

29 Nov 10:04 Reuters 8334514181122338087.html
N Korea's Thanksgiving Day test shows improving speed for missile crews

North Korean leader Kim Jong Un expressed “great satisfaction” over the latest test of a large multiple-rocket launcher, state media said on Friday, a launch that experts said showcased improving performance by the system and its crews.

29 Nov 14:43 Bdnews24 8119004129585573793.html
There's less than 12 months to go before the 2020 World Expo in Dubai opens its doors.

29 Nov 10:28 2 articles

Expo 2020 Dubai calls itself 'the world's greatest show': So what can you expect?

There's less than 12 months to go before the 2020 World Expo in Dubai opens its doors.

29 Nov 10:28 ZDNet 591556591878166313.html
Expo 2020 Dubai calls itself 'the world's greatest show': So what can you expect?

There's less than 12 months to go before the 2020 World Expo in Dubai opens its doors.

29 Nov 10:28 ZDNet 591556592246922822.html
New World Fund Inc on Friday offloaded more than 1 crore shares of Adani Ports and Special Economic Zone Ltd for over Rs 401 crore in an open market transaction.

29 Nov 14:20 2 articles

New World Fund sells over 10 mn shares in Adani Ports worth Rs 401 cr

As per September 2019 shareholding data, New World Fund Inc was a public shareholder of Adani Ports and held 2.07 per cent stake

29 Nov 14:20 Business-Standard 1502508926305739129.html
New World Fund sells Adani Ports shares worth Rs 401 crore

Bulk deal data on the BSE showed that 1,06,87,163 scrips were sold at an average price of Rs 375.34 apiece.

29 Nov 14:53 The Economic Times 7653256037683284133.html
Snapping its two-day record-setting streak, market benchmark BSE Sensex tumbled 336 points on Friday as investors turned jittery ahead of GDP data release.

29 Nov 11:04 3 articles

Sensex tumbles 336 points ahead of GDP data

NSE Nifty also settled 95.10 points down.

29 Nov 11:04 The Hindu 6679535026155701818.html
Sensex tumbles 336 points ahead of GDP data

Yes Bank was the top loser in the Sensex pack, shedding 2.50 per cent, followed by HUL that fell 2.37 per cent, M&M 2.12 per cent, SBI 2.03 per cent, Tata Motors 2.03 per cent and Vedanta 1.97 per cent.

29 Nov 11:16 The Indian Express 2885715103791039839.html
Sensex tumbles 336 pointts ahead of GDP data

The 30-share Sensex pared some losses, ending 336.36 points or 0.82 per cent lower at 40,793.81.

29 Nov 14:27 Deccan Chronicle 7881006363111177782.html
Christmas is almost here, and so the battle of the touching videos on social media begins…

29 Nov 14:48 2 articles

Singtel’s Christmas film is about an entitled teen who must have the latest phone – and we can probably all relate

Christmas is almost here, and so the battle of the touching videos on social media begins…

29 Nov 14:48 Business Insider Malaysia 8325046884050300840.html
Singtel's Christmas film is about an entitled teen who must have the latest phone - and we can probably all relate, Business Insider - Business Insider Singapore

Business Insider - And so the battle of the touching videos on social media begins.... Read more at businessinsider.sg

29 Nov 14:48 www.businessinsider.sg 5090408757465870248.html
New Delhi: The Securities Appellate Tribunal (SAT) on Friday asked market regulator Sebi to look into the issue of clarification sought by Karvy Stock Broking with regard to usage of power of attorney given by clients.

29 Nov 14:12 2 articles

SAT asks Sebi to look into Karvy's plea on power of attorney issue

Sebi on November 22 had barred Karvy from taking new clients in respect of its stock broking activities.

29 Nov 14:12 The Economic Times 7653256037974409786.html
Karvy case: SAT asks Sebi to review limited use of power of attorney issue

Sebi's directive had come after the National Stock Exchange forwarded a preliminary report to it on the non-compliances observed with respect to pledging/misuse of client securities by Karvy

29 Nov 14:00 Business-Standard 1502508925147962679.html
China’s GDP data release always generates great market excitement despite rarely straying more than 25 basis points below or above the government target. This stability has led a number of analysts to propose their own measures, typically based on a variety of Chinese proxy data but, in the end, not that different from the official numbers. In this article I argue that, based on the performance of countries comparable to China, the latter’s GDP growth could be as low as half the official number and that markets are likely overestimating China’s importance for the global economy. That being said, China has one of the highest levels of corporate debt in the world and slower growth implies greater risks of financial instability.

29 Nov 11:31 2 articles

China’s true economic growth could be half of what everyone thinks

China’s GDP data release always generates great market excitement despite rarely straying more than 25 basis points below or above the government target. This stability has led a number of analysts to propose their own measures, typically based on a variety of Chinese proxy data but, in the end, not that different from the official numbers. In this article I argue that, based on the performance of countries comparable to China, the latter’s GDP growth could be as low as half the official number and that markets are likely overestimating China’s importance for the global economy. That being said, China has one of the highest levels of corporate debt in the world and slower growth implies greater risks of financial instability.

29 Nov 11:31 Business Insider Malaysia 8325046884164786361.html
China's true economic growth could be half of what everyone thinks, Business Insider - Business Insider Singapore

Business Insider - GDP growth could be as low as half the official number and that markets are likely overestimating China’s importance for the global economy.. Read more at businessinsider.sg

29 Nov 11:31 www.businessinsider.sg 5090408757580355769.html
Warren Buffett has frequently touted his Berkshire Hathaway Inc. as a home for businesses away from what he said was the debt-fuelled, quick-turnover appetite of private equity firms. But the Berkshire name wasn’t enough for Tech Data Corp.

29 Nov 15:25 3 articles

Warren Buffett gets outbid by private equity amid Berkshire's 'elephant-sized' deal hunt

While Buffett is still on the prowl, he may not be willing to outbid private equity firms flush with money

29 Nov 15:25 Financial Post 2379081491761309552.html
Buffett outbid by private equity in Berkshire’s big deal hunt

Apollo Global Management tops Berkshire's share bid for technology distribution company.

29 Nov 15:28 Moneyweb 1092550947099261803.html
Buffett outbid by private equity in Berkshire's big deal hunt

Warren Buffett has frequently touted his Berkshire Hathaway Inc. as a home for businesses away from what he said was the debt-fueled, quick-turnover appetite of private equity firms. But the Berkshire name wasn’t enough for Tech Data Corp.

29 Nov 15:02 BNN 3833521689243105659.html