Saudi Aramco's net profits reached $111 billion last year, according to a report published Monday by Moody's Investors Services that provides a rare glimpse into the state-owned oil firm's finances before it issues its first bonds in international markets. That places Aramco ahead of some of the world's most profitable firms. By contrast, Apple booked a net profit of about $60 billion in its last full year, Royal Dutch Shell had net income of $23 billion and Exxon Mobil $21 billion.The plan to issue its first bonds to international investors are part of Prince Mohammed's plans, who is also pursuing an IPO for the oil business, according to Bloomberg News. The IPO, which could be the biggest in history, was delayed last year after a rise in crude oil prices lessened the need to take Aramco public. The IPO is part of the country's plan to diversify into businesses other than oil.In another assessment issued Monday, Fitch Ratings said Aramco posted profits of $224 billion before … [Read more...] about Saudi Aramco pushes ahead of Apple as the world’s most profitable company
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Viet Nam News HÀ NỘI — The office market in Hà Nội was expected to face a shortage of supply with competition between offices for lease and co-working spaces likely to rise in the future, but was performing well at present, according to experts. According to Savills Research, Hà Nội and HCM City witnessed a downward trend of yields from the second half 2015 to the second half 2018. “This again was caused by the limited supply of available office developments for sale, which has resulted in more aggressive bidding prices from buyers, driving yields further downward. The office sector is currently a seller’s market in Việt Nam; in other words, if you are an office development owner, now is a good time to sell,” said Hoàng Nguyệt Minh, Investment Manager at Savills Hà Nội. In the Grade A segment, no new supplies had been seen in Hà Nội for three years, and the Grade B segment had only two … [Read more...] about Hà Nội office market to likely to lack supply
By Samuel Shen and Noah Sin SHANGHAI/HONG KONG (Reuters) - An industry body representing global asset managers in Asia has urged China to lift foreign ownership caps in listed companies, two weeks after the restrictions disrupted overseas buying of a Chinese stock and just as foreign inflows are set to swell. In a policy paper released on Wednesday, financial lobbyist ASIFMA called on regulators to abolish the 10 percent individual and 30 percent aggregate foreign ownership ceilings in a China-listed company. "If these limits are not removed, we are afraid that foreign institutional investors may not be able to invest in some of the listed companies, particularly the small cap companies," ASIFMA said. Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, said this month China is not considering relaxing the foreign ownership restriction. His comments came after regulators halted foreign share purchases in Han's Laser Technology following the breach of the 30 … [Read more...] about Scrap foreign ownership caps, investor group tells China
Viet Nam News BÌNH DƯƠNG – Việt Nam needs to update its legal framework related to foreign investment. A conference in southern Bình Dương Province on Thursday was told that changes need to be made in the context of the fourth industrial revolution and capital flow changes due to the trade war. “Việt Nam is considered one of 12 nations in the world to have successfully attracted and used FDI to develop the economy and society,” Deputy Prime Minister Vương Đình Huệ said in his speech at the conference titled Institutional and Policy Consultation on FDI in The New Context. “FDI is an important resource to promote socio-economic development, encourages economic restructure and production, increases exports, takes Việt Nam into the global value chain, contributes to the State budget, creates jobs, improves the quality of human resources, helps stabilise the economy, and raises Việt … [Read more...] about Bình Dương investors’ meet discusses FDI policy
CEOs and investors need the government to import more H-1B visa-workers for U.S. jobs because “a sustained reduction in immigration could dampen growth,” says a report in the New York Times. While touting the need for more “economic growth,” the article hides the huge scale of the H-1B program and it dismisses the evidence that hundreds of billions of dollars have been transferred from graduates’ per-capita salaries over to the investors on Wall Street.The two authors, Nelson D. Schwartz and Steve Lohr, repeatedly put Wall Street’s priority of economic growth ahead of Americans’ desire to grow their own wages and salaries: The Business Roundtable, a group of corporate leaders, recently challenged the Trump administration over changes that it says threaten the livelihoods of thousands of skilled foreign workers, and economic growth and competitiveness. The article repeatedly complains that … [Read more...] about NY Times: Business Needs More Foreign H-1B Workers, Stat!