World Market News

Alibaba guides pricing on Hong Kong listing around HK$176

With a Hong Kong listing in sight, Alibaba will challenge Tencent Holdings Ltd. for the title of the largest listed corporation in the city.

Saudi Arabia cuts Aramco valuation, boosts loans to get IPO done

Aramco will sell just 1.5 per cent of its shares on the local stock exchange, about half the amount that had been considered, and seek a valuation of between $1.6 trillion and $1.71 trillion.

World’s rich readying for major stock sell-off, UBS Wealth says

A majority of rich investors expect a significant drop in markets before the end of next year, and 25 per cent of their average assets are currently in cash, according to a survey of more than 3,400 global respondents.

OPEC sees its oil market share shrinking, lowers demand view

OPEC's production of crude oil and other liquids is expected to decline to 32.8 million barrels per day (bpd) by 2024, the group said in its 2019 World Oil Outlook published on Tuesday.

Brexit confusion weighs on pound, dents risk appetite

With no major economic data scheduled in Asia on Wednesday, traders will be left to ponder whether Britain will hold a general election to break the impasse.

Harry and Kate to visit Pakistan, cover response of local communities to climate change

This will be the royal couple's first official visit to Pakistan. They will try to meet as many people as possible during the trip, the British embassy said.

Fed policymakers ‘open’ to rate cut as risks to outlook rise

The US consumer and economy are in a "good place," and the US labor market is "very healthy," Clarida said. At the same time, risks include slowing global growth, uncertainty over trade, and persistent low inflation overseas, all of which impact the US economy.

Brent could rally above $75 if Saudi outage extends beyond 6 weeks: Goldman

Oil prices surged on Monday, with global benchmark Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after the attack on Saturday shut over 5% of global supply.

World must invest $1.8 trillion to take on climate change: report

A global commission — which includes billionaire Bill Gates and former UN chief Ban Ki-moon — has called on nations to invest now to protect against the effects of climate change.

Down, down they go: Emerging central banks deliver most rate cuts in a decade

Interest rate moves by central banks across a group of 37 developing economies showed a net fourteen rate cuts last month - the largest number since policy makers ramped up measures to kickstart economic growth in the wake of the financial crisis.

As Chinese currency’s declines, it’s not all Beijing’s doing

Since the Trump administration began to talk of imposing tariffs on Chinese exports in early 2018, the currency is down roughly 10%. The drop has picked up speed in August, with the yuan down about 4%.

Big brands say ‘sorry’ as China market expands

Calvin Klein, Coach, Givenchy, Dolce & Gabbana, Swarovski — and now, Versace. The list of foreign brands that have generated online fury in China would make for a glittering evening of luxury and fashion.