Why the world’s most profitable company is going public

Dhahran: Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdom seeks to diversify its economy away from oil. But in its long-awaited announcement, Aramco, the world’s most profitable company, […]

Asean leaders hanker for trade deal as economy sags on US-China spat

BANGKOK: Southeast Asian leaders met Saturday in Thailand eyeing a breakthrough in talks over the world’s largest trade deal to help throw off the torpor which has gripped the global economy since the start of the US-China tariff war. The 10-member Association of Southeast Asian Nations (Asean) opened their annual summit in Bangkok hoping to […]

South Africa moves one step closer to junk rating as

Johannesburg: Moody’s Investors Service cut the outlook on South Africa’s credit rating to negative from stable, taking the country one step closer to losing its final investment-grade assessment. It held the foreign- and local-currency readings at Baa3, its lowest investment grade. The change in outlook reflects “the material risk that the government will not succeed […]