Saudi Aramco, the state-owned oil company of Saudi Arabia, placed bonds, hoping to raise about $10 billion to pay for its share in Saudi Basic Industries Petrochemical Corporation. This deal has attracted enormous interest from investors, whose demand for Saudi Aramco bonds reached a record high of 85 billion dollars. Bonds are divided into tranches of securities with maturity of 3, 5, 10, 20 and 30 years. After it was recorded at the very beginning of the excess of investor demand of $30 billion, Saudi Aramco decided to place the bonds with virtually no premium to government bonds in Saudi Arabia. Record demand for the company's bonds showed a high level of market confidence in the Saudi oil giant.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...