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Press Releases

Saudi favors New York for Aramco IPO, also considers Toronto, London -WSJ

Feb 20- Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and Shanghai but are unlikely to pursue listing in those places, the newspaper said, citing...

Source: Reuters

UPDATE 1-Portugal to flesh out terms of Novo Banco sale with Lone Star

LISBON, Feb 20- The Bank of Portugal will hold a final round of exclusive negotiations with U.S. private equity firm Lone Star as it seeks to flesh out the terms of the potential sale of state-rescued lender Novo Banco, the central bank said on Monday. Olivier Brahin, president of Lone Star for Europe, said in a separate statement his firm was "committed to confirming a...

Source: Reuters

METALS-Copper, zinc and nickel rebound on supply concerns

*Freeport says could seek damages in Grasberg dispute. LONDON, Feb 20- Copper bounced back above $6,000 a tonne on Monday as a dispute escalated over the world's second-biggest copper operation in Indonesia, while zinc was boosted by a drop in inventories. Three-month copper on the London Metal Exchange gained 1.3 percent to $6,035 a tonne by 1510 GMT, recovering...

Source: Reuters

CEFC China Energy wins 4 percent stake in UAE oil project

DUBAI, United Arab Emirates— The United Arab Emirates' main state oil company has agreed to give CEFC China Energy a 4 percent stake in a major onshore oil project a day after awarding a minority stake to another Chinese company. The Abu Dhabi National Oil Company said Monday that CEFC is paying an entry fee of $888 million for the concession operated by the Abu...

Source: The Associated Press

GLOBAL MARKETS-Telcos, banks lift European shares, dollar dips

*Stocks rise in Europe and Asia, driven by merger activity. LONDON, Feb 20- European stocks rose on Monday, with gains in telecoms and banks offsetting a big fall in Unilever, while the dollar dipped as uncertainty over politics and the timing of a U.S. interest rate rise kept investors nervous. U.S. markets were closed for the Presidents Day holiday, and this...

Source: Reuters

Swedish think tank: Arms trade is flourishing

HELSINKI— A Swedish think tank says that the global arms trade has steadily increased in volume the past five years, propelled by an almost doubling of arms imports in the Middle East and strong growth in demand in Asia. Five countries— United States, Russia, China, France, Germany— accounted for 74 percent of the total arms exports. The Stockholm International Peace...

Source: The Associated Press

RPT-COLUMN-China's North Korea import ban the latest gyrating coal policy: Russell

LAUNCESTON, Australia, Feb 20- Coal markets could be forgiven for feeling slightly confused about the recent signals coming out of top importer China, with both bullish and bearish developments in evidence. China said on Feb. 18 that it will suspend all imports of coal from its nuclear-armed neighbour North Korea until Dec. 31, a move that, if implemented, would...

Source: Reuters

EXCLUSIVE-China's Geely to bid for Malaysian car maker Proton - sources

*Geely aims to drive Proton sales in RHD markets; UK, India. BEIJING, Feb 20- Chinese automaker Zhejiang Geely Holding Group Co is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings Bhd, two people familiar with the bidding process told Reuters. As part of its pitch following discussions with...

Source: Reuters

UPDATE 1-Abu Dhabi awards China's CEFC 4 pct of oil concession for $900 mln

ABU DHABI, Feb 20- Abu Dhabi awarded a 4 percent stake in its giant onshore oil concession to CEFC China Energy Co for a fee of 3.3 billion dirhams, state-owned Abu Dhabi National Oil Co said on Monday. The onshore fields, operated by Abu Dhabi Company for Onshore Petroleum Operations (ADCO, have total resources estimated at between 20 billion and 30 billion barrels...

Source: Reuters

Hong Kong Disneyland posts 2016 loss on tourism softness

Resort owners The Walt Disney Co. and the Hong Kong government, which has a 53 percent stake, last year announced a $1.4 billion expansion for the park, which has been criticized for being too small and having too few big-ticket rides. However, Disney's board and Hong Kong lawmakers need to approve its funding. Hong Kong is also working to improve its...

Source: The Associated Press