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Chinese petrochemical corporation Sinopec, which announced plans to restructure its oil business in February, plans to hold an IPO of Sinopec Sales. According to the president of Sinopec, Ma Yunshen, the sales division is currently considering the most appropriate time to apply for the placement of its shares. Previously, the company announced plans to raise about $10 billion during IPO, and now it has lowered the goal of raising funds to $5 billion or $6 billion. Sinopec reported an increase in net profit in 2018 by 22.04% to 62 billion 386 million yuan. Its operating profit was 2 trillion 881 billion yuan, an increase of 22.09% over the year.
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
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