Russian aluminium giant Rusal‘s core earnings beat expectations in the third quarter, helped by rising aluminium prices and greater sales of higher margin products. Third quarter earnings before interest, taxation, depreciation and amortisation (EBITDA) surged by 30 percent to $549 million from $421 million in the third quarter of 2016 Analysts had expected core earnings […]
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UAE's state-owned oil company is poised to sell at least 10% of its fuel distribution unit
Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates (UAE) oil giant, said Monday it plans to sell at least 10 percent of its stake in its fuel retail business in an initial public offering (IPO) next month. The listing will be on the Abu Dhabi bourse and is expected before the end of […]
Read moreA cryptocurrency that split away from bitcoin was temporarily the second-largest virtual currency by market value on Sunday. The market capitalization of bitcoin cash surged to more than $41 billion on Sunday at 2:29 a.m. ET, according to data by industry website Coinmarketcap. It dipped to $22 billion at 10:30 p.m. ET. Bitcoin cash usurped […]
Read moreEuropean stocks are expected to open higher Monday as investors focus on earnings, while keeping an eye on tax reform plans in the U.S. and political woes in the U.K. The FTSE 100 is seen up by 20 points at 7,453; the German DAX is seen higher by 6 points at 13,124 and the CAC […]
Read moreOne of the defining actions of President Donald Trump’s tenure in the White House so far is his decision to withdraw the U.S. from a 12-nation trade deal that would have had wide-ranging implications for much of the world’s economy. Now that deal — the Trans-Pacific Partnership — looks like it’s going to be settled […]
Read moreOutbound investments from Chinese companies are expected to pick up next year, but that’s not necessarily good news for every sector hungry for China’s cash. That is, experts said most of the deal-making will likely happen in sectors aligned with the Belt and Road Initiative — China’s massive plan to connect Asia, Europe, the Middle […]
Read moreOver 400 millionaires and billionaires from the United States plan to send a letter to Congress this week petitioning on lawmakers not to cut their taxes — but to raise taxes on the wealthy, according to a Washington Post report. Instead of calling for tax cuts for the rich, the letter urges lawmakers not to […]
Read moreGaming hardware company Razer saw its stock jump in its debut on the Hong Kong Exchange on Monday. The company, backed by Hong Kong tycoon Li Ka-shing, pricedits initial public offering at HK$3.88 ($0.50) a share, it said in a filing on Friday. The company said it raised around HK$3.9 billion ($500 million) from the […]
Read moreBuoyed by China’s plans to build a ubiquitous CCTV surveillance network, Chinese and some foreign investors are pouring money into start-up technology firms that specialize in facial recognition software. At stake for firms such as SenseTime Group, Face++ and DeepGlint, is a multi-billion dollar global public and private market for facial recognition technology that can […]
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